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Rishi Techtex Ltd.

BSE: 523021 Sector: Industrials
NSE: RISHIPACK ISIN Code: INE989D01010
BSE 00:00 | 17 May 37.40 1.00
(2.75%)
OPEN

36.60

HIGH

37.50

LOW

36.60

NSE 05:30 | 01 Jan Rishi Techtex Ltd
OPEN 36.60
PREVIOUS CLOSE 36.40
VOLUME 450
52-Week high 69.75
52-Week low 35.15
P/E 7.99
Mkt Cap.(Rs cr) 28
Buy Price 37.35
Buy Qty 350.00
Sell Price 40.00
Sell Qty 400.00
OPEN 36.60
CLOSE 36.40
VOLUME 450
52-Week high 69.75
52-Week low 35.15
P/E 7.99
Mkt Cap.(Rs cr) 28
Buy Price 37.35
Buy Qty 350.00
Sell Price 40.00
Sell Qty 400.00

Rishi Techtex Ltd. (RISHIPACK) - Company History

Incorporated in 1984, Rishi Packers was promoted by B G N Patel. The company's products include HDPE/PP woven sacks and fabric, multi-wall bags and plastic granules. The company's plant at Daman has an installed capacity of 2000 tpa for sacks and fabric and 300 lac pa for multi-wall bags. Multi-wall bags are kraft paper lined HDPE/PP bags which increase barrier properties of the material. To part-finance its expansion programme, the company made a rights issue (1:2) in Jun.'94 at a premium of Rs 20. Its product is consumed by manufacturers of cement and cement paints, rubber compounds, milk powder, solid and granulated chemicals, thermosetting resins, petrochemicals, synthetic rubber, etc. In 1995-96, the company proposed to increase the present capacity of multiwall bags by 16 mln pa which is to commence operations from Jun.'97 and is also proposing to set up a project for production of Raschel bags, for which L/C for the import of machinery has been opened. This is an EOU unit. Cost of the above projects is expected to be Rs 11 crores which will be financed by borrowings, internal accruals and by issue of shares. During 1997-98, the company has successfully implemented the new project for the manufacture of Raschel bags and modernised its Woven sacks operations. It by replacing two Tape Lines and 30 Looms. During 1998-99, the Company commenced a new woven sacks project at Dadra in the Union Territory of Dadra and Nagar Haveli with a capacity of 750 MT per annum. The Company also issued 600000 Equity shares of Rs. 10 each at a premium of Rs. 5/- per share to promotor group on private placement basis to raise funds to meet the working capital requirements. During the year 2000-01, the company has registered 9.5% growth in respect of turnover over the previous year. The total turnover is stood at Rs.2978.79 lakhs during 2000-01, as against Rs.2720.30 lakhs in the previous year. Due to severe erosion of margins in the industry, the PBT has dropped during the year, inspite of increase in turnover.