KRM International was incorporated on 2 Feb.'88 and went public in 1992. It has been promoted by the Modi brothers -- Shashi Kumar Modi, Sunil Kumar Modi and Sanjay Kumar Modi. The company manufactures and exports leather shoe uppers, leather garments and allied leather products and exports hosiery garments. The present installed capacity is 1200000 pairs of shoe uppers a day. The company has established a good market in Slovakia, Germany, Japan and Europe. The company came out with a public issue in Mar.'93 at a premium of Rs 30 to part-finance the tannery project. The joint venture with Daga Goerdts Imports (DGI), Germany, to manufacture leather shoes has been shelved. KRM will undertake this on its own. Also, the joint venture with Chipruffe Marketing, UK, to manufacture knitted garments with financial participation from both partners has been restricted to a marketing tie-up along with technical support. An agreement has been signed wherein Chipruffe will source knitted garments for five years exclusively from KRM. The company has chalked up a substantial expansion-cum-diversification plan. In the knitted pure garment division, the company had been hitherto sourcing garments from the market for export. Now, it will be manufactured by a separate company. Company mainly focused on the export market of developed countries of Europe with tight cost control measures and better working capital. The company is having subsidiary viz Bipin Textile Processing Industries Ltd. The company has become a sick company as the Accumulated losses have eroded the Networth in 2000-01.