Konark Synthetic Ltd

Konark Synthetic Ltd

Konark Synthetic Limited engages in the production and sale of textile products in India. The companys products include synthetic multifold yarns home furnishing fabrics and readymade garments. It offers texturised and air-texturised specialty synthetic yarns; fabrics such as upholstery drapery-sheer and main top of the bed top of the table and suitings; apparel comprising trousers shirts and shorts; and carded combed and compact cotton yarns. The company exports its products to customers primarily in Turkey China Russia the Middle East Germany and the United States. In addition it involves in the development of residential commercial and township properties. The company is headquartered in Mumbai India.Konark Synthetics (KSL) was incorporated in the year 1984 and is promoted by Prakash Dalmia and Ram Niranjan Tibrewala. The company has two plants one in Palghar and the other at Silvassa for fancy twisting and air texturising respectively. In 1989 KSL went public with an equity issue at par of Rs.60 lakh to part finance its expansion. The expansion envisaged setting up two more units at Silvassa and Palghar for air texturising and fancy twisting respectively. It acquired the air texturising technology and machines from Japanese AIKI. An expansion project for projectile shuttleless weaving with the latest technology is also on the anvil. The group is also setting up another export oriented unit for the manufacture of terry towels. The Silvassa unit (Dadra & Nagar Haveli) was commissioned from July 1989 while the Palghar (Thana) unit was commissioned in 1987. During 1989-90 the fancy unit at Palghar suffered a setback due to reduced activity on account of frequent labour agitations decrease in average sales realisation of fancy yarns and increase in input yarn prices. In 1990-91 the Palghar unit remained closed due to a labour agitation. However an agreement was arrived at with the union and the production was resumed from April 1991 on a single shift basis.The company was formerly known as Konarak Synthetics Limited and changed its name to Konark Synthetic Limited in April 1995.