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Viral Syntex Ltd.

BSE: 526171 Sector: Industrials
BSE 05:30 | 01 Jan Viral Syntex Ltd
NSE 05:30 | 01 Jan Viral Syntex Ltd

Viral Syntex Ltd. (VIRALSYNTX) - Company History

Incorporated in Sep.'85 as a private limited company, Viral Syntex (VSL) was converted into a public limited company in Jul.'92. VSL was promoted by M L Khandelwal and K K Khandelwal. The company is engaged in re-processing various grades of polymer waste at its unit at Dombivili, near Mumbai. VSL went public in Aug.'93, to part-finance a project for the manufacture of polyester chips in technical collaboration with Engineering Recycling Maschinen and Anlagen Gesell Schaft (Erema), Austria. Polyester chips are the basic raw materials used for polyester fibres and polyester yarns. VSL implemented a project to manufacture 6000 tpa of regenerated speciality polyester staple fibre by setting up a modern plant at Ankleshwar, Gujarat. The plant was commissioned in Mar.'95. Encouraged by the overwhelming response to its products, the company now plans to increase capacity to 25,000 tpa at an estimated cost of Rs 60 cr. In addition, VSL is planning forward integration by setting up a spinning unit with 25,000 spindles. In 1995-96, the company earned foreign exchange worth Rs 5.83 cr. The company commissioned a modern PET flakes manufacturing plant with a capacity of 7500 tpa in Mar.'96, at Talasari. It also installed core spun yarn making machines to increase the capacity to 3000 tpa. It has commenced a project to increase the production of polyester chips/PET flakes, as well as setting up of core spun yarn and geo textiles capacity.