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Sheena Textiles Ltd.

BSE: 521026 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Sheena Textiles Ltd
NSE 05:30 | 01 Jan Sheena Textiles Ltd

Sheena Textiles Ltd. (SHEENATEXTILES) - Company History

Promoted by Maheshkumar Goenka and Manoj Goenka of the Texport group which is well-established in the manufacture and export of readymade garments, Texport Textiles is a 100% EOU manufacturing terry towels. The company came out with a public issue in Jun.'92 to part-finance its 714-tpa terry towel-project at Thane, Maharashtra. Commercial production commenced in Jul.'92. It has a marketing agreement with a leading American textiles trading company. In 1993-94, the company undertook an expansion programme. The company's profitability suffered due to a strike, which affected the operations. The operations were partially suspended in Dec.'95 and were fully suspended from Mar.'96 onwards due to financial constraints. During the year 1998-99, there was a change in the management of the Company and all the previous Director's resigned and there place was taken by the current directors i.e. Ram Prakash Chugh, Manoj Kumar Chugh, Satish Kumar Chugh. The Company is in the process of setting up a 100% EOU in Surat with 125 looms to manufacture Terry Towels for the export market. During the year 1999-2000, the new project at Surat which is the largest unit in Asia in terms of weaving capacity under single roof started commercial production. Also during the year the company's name has been changed to "Sheena Textiles Ltd"