Ashima Syntex Limited is a Gujarat based company engaged in the
business of manufacture of polyester filament year. It is also
engaged in the trading of fabrics.
It has got four divisions - Polyester Division, Ashima Denims, Ashima
Fabrics and Ashima Spinfab.
Ashima Syntex Ltd (ASL) was incorporated as a Private limited company
on the 17th June, 1982 in Gujarat and was subsequently converted into
a Public limited company on the 26th August 1988.
ASL currently has facilities for texturising Polyster yarn, Draw
twisting of Filament yarn(PFY) and sizing of PFY. The company also
has a division for the manufacture of high tensile fasteners and
automobile components.Further, ASL is involved in construction
activities and also act as selling agents in Ahemadabad, North
Gujarat & Surat for PFYand Partially Oriented Yarn(POY) manufactured
by J.K.Synthetics Ltd.
The texturising division of ASL was started in 1982 with the
installation of 288 spindles with the capacity to manufacture 16
MT/month of 80 Dn Texturised PFY. The division was later raised to 44
MT /month by addition of 216 spindles. The division has been
performing satisfactorily with Net Sales increasing from 14.71crores
in 1988-89to Rs. 22.00 crores.
The Draw twisting division was started in 1989 with the installation
of one Teijin Seiki, Draw twisting machine with the capacity to
manufacture 40 MT/month of 50Dn.Bright Trilobal PFY. The capacity of
this division was doubled with the addition of one more machine in
The turnover of the division was Rs. 1.25 crores in 1988-89, which
has increased to Rs.13.80 crores in 1991-92.
In 1991-92, ASL entered the construction business and is engaged in
consultancy on construction matters and development of Real estates.
The company is also engaged in trading of texturised, draw twisted
and sized yarn.
The sizing facilities and J.K.Synthetics Agency have been acquaired
by ASL in june,1992. As part of the package deal with the seller
Anagram Finance Limited(AFL), the company was also required to
purchase facilities for the manufacture of high tensile fasteners and
automobile components. The assets and liabilities of these divisions
were acquired by ASL on 30.06.1992.
The division was started in 1988 and is engaged in sizing of PFY.
The division has a Tsudakoma three tier sizing machine with an
installed capacity of 590 tpa of PFY. The sizing division would help
the company achieve forward integration for its Draw twisting
The division was started in 1990 and has a dealership of
J.K.Synthetics Ltd for the sale of PFY and POY in Ahemadabad, Surat
and North Gujarat. ASL has been involved in marketing of PFY for
about a decade and would thus derive an added advantage through the
aquisation of this dealership.
The division is engaged in the manufacture of High Tensile Fasteners
(1900 tpa) and automobile components (100 tpa). The working of the
divison has not been profitable in the past. The company is striving
to turn this division around. If these efforts donot fructify, the
company may close down the division and discharge the attendant
liabilities. As a matter of abundant caution, the aggregate
requirement of funds (Rs.2142lacs) has been estimated after including
provision for meeting such liabilities, although sale of the assets of
the division would be adequate for these purposes.
The existing manufacturing operations of the company are located at
Ashima Complex, village Karannagar, Taluka Kadi, Dist. Mehasana, a
notified backward area.
-The Ahmedabad-based Rs 600-crore Group Ashima to launch a new
collection of cotton fabric for the domestic garment industry every
-Ashima has designated E-mail ID for Investor Complaints: