Triton Corp. Ltd

Triton Corp. Ltd

Incorporated in Apr.'90 as a public limited company Triton Copr. Ltd. formerly known as Stencil Apparel is promoted by Amit Judge and his associates. The company came out with a public issue in Feb.'91 to part-finance its project of setting up a plant at Noida Uttar Pradesh to manufacture 7000 shirts and 2500 trousers/jeans pd.Commercial production at the trouser plant and the shirt plant commenced in Sep.'91 and Dec.'91 respectively. In 1992-93 the company incurred losses. In the next year it changed the product-mix resulting in lower raw material costs and substantial reduction in expenses and it could post a profit.On the export front the company supplies to global brands including Cacharel C&A Grigio Perla Fila Boggi Liz Claiborne etc. In 1993-94 it forged a new tie with brands like Nautica Atlantis and Anyway.In 1994-95 the company implemented a restructuring scheme with the consent of the financial institutions to pay back the high cost debts of the institutions. In 1995-96 the company sold one of its manufacturing facilities at Noida Phase II the proceeds of which along with the funds brought in by the promoters were utilised directly for settling the high cost debts of financial institutions.During the year 1999-2000 the company has been declared sick and has been referred to BIFR.As informed in the last year the company has been referred to BIFR and a rehabilitation scheme has been approved under which M/s Rajendra Seclease has been inducted as a co-promoter and the company has acquired the stake.The New management is planning to start new business of manufacturing trading & marketing to improve the bottom line of the company.