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L D Textile Industries Ltd.

BSE: 502954 Sector: Industrials
BSE 05:30 | 01 Jan L D Textile Industries Ltd
NSE 05:30 | 01 Jan L D Textile Industries Ltd

L D Textile Industries Ltd. (LDTEXT) - Company History

L D Textile Industries, a reputed manufacturer of synthetic blended yarns with a total installed capacity of 39,136 spindles at Ankleshwar, Gujarat, has a weaving unit at Vikhroli, Bombay. It was promoted by Kalicharan L Mehra in 1958 as a partnership concern and was incorporated as a private limited company in 1965. The looms in the company's Bombay unit have been leased out, hence spinning of polyester/viscose blended yarn at the company's Ankleshwar plant forms the core business activity. In 1993-94, the company installed a one-MW wind farm in Lamba, Gujarat. In early 1995, it implemented its expansion plan by installing an additional 15,360 spindles at its plant at Ankleshwar and adding another 1 MW capacity to its wind farm at Lamba. In Dec.'94, the company offered 1:1 rights issue (premium : Rs 90) to part-finance the above expansion. In early 1995, the company successfully allotted 2 lac equity shares (premium : Rs 90) to ICICI and 2.5 lac equity shares (premium : Rs 110) to Kotak Mahindra Finance, both on private placement. In 1995-96, the company made a net loss of Rs 1.8 cr. This is mainly due to the steep rise in raw material prices, excise duty and power tariffs. The company increased spindle-capacity from 31,936 to 41,536. During the year 1998-99, the company has become a sick industrial company.