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Orient Syntex Ltd.

BSE: 503878 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Orient Syntex Ltd
NSE 05:30 | 01 Jan Orient Syntex Ltd

Orient Syntex Ltd. (ORIENTSYNTEX) - Company History

In 1982, G L Lat and S K Kejriwal, two former employees of the Birla group, set up a 17,280-spindle unit (cost: Rs 83.5 mln) to manufacture synthetic and blended yarn, at Yavatmal, Maharashtra. The company branched out from the manufacture of grey and dyed synthetic blended yarn into trading in food products, plastics and paper. A 100% EOU (cap.: 4320 spindles) has been set up at Yavatmal, Maharashtra, bringing the total capacity to 21,600 spindles. The company went public in Dec.'93 to part-finance the project. The capacity of this unit was enhanced further, with the addition of 8640 high-speed air-jet spindles in 1994. The company owns a modern fibre-dyeing plant, which can manufacture slub yarn and fancy yarn of 12-40 single and two-ply counts. The company is planning a 25,000-spindle unit at Khandwa. The first phase of 13,000 spindles was completed by 1995. Latest equipment with quality control systems will be procured from Germany, Italy, Switzerland and Japan to manufacture high-grade yarn. The company intends to go in for a worsted spinning unit to manufacture yarn for socks and also an export-oriented cotton towelling facility. In 1995-96, the company earned foreign exchange worth Rs 16.35 cr. The implementation of the proposed expansion of 8640 spindles is delayed.