SENSEX NIFTY
Banswara Syntex > Company History > Textiles - Spinning - Synthetic Blended > Company History of Banswara Syntex - BSE: 503722, NSE: BANSWRAS
YOU ARE HERE > MONEYCONTROL > MARKETS > TEXTILES - SPINNING - SYNTHETIC BLENDED > COMPANY BACKGROUND - Banswara Syntex
Banswara Syntex
BSE: 503722|NSE: BANSWRAS|ISIN: INE629D01012|SECTOR: Textiles - Spinning - Synthetic Blended
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Oct 21, 16:00
81.25
-0.7 (-0.85%)
VOLUME 511
LIVE
NSE
Oct 21, 15:31
80.75
-1.25 (-1.52%)
VOLUME 205
Company History - Banswara Syntex
The Company was initially promoted by Shri R.L.Toshniwal and Rajasthan
 State Industrial Development & Investment Corporation Limited (RIICO)
 in joint sector.  The company was incorporated on 5.5.1976 as a
 Public Limited Company for manufacture of synthetic blended yarn.  It
 received certificate of commencement of business on 27th September,
 1976.  Later on it was converted into Private Sector.  RIICO
 originally subscribed to 4,69,293 shares each of Rs.10/-.  In terms
 of the buy-back agreement
 shares dis-invested by RIICO has been bought back by the promoters,
 their friends and relatives at price ranging from Rs.12/- to Rs.57/-
 per share. The company is now working as private sector undertaking. 
 At present RIICO is holding only 12,000 shares of the Company.
 
 The Company started its operations in April, 1978 with 12500 spindles
 at Banswara (Rajasthan) which is a backward area.  It generated cash
 surplus in very first year of its operation. Expansion and
 modernisation programme has been undertaken from time to time. 
 Balancing equipments were also installed. Barring year 1981-82 to
 1983-84 on account of power cut in the State of Rajasthan, working of
 the Company remained satisfactory.  The Company's performance has
 considerably improved in the year1987-88 onwards.  Performance during
 the year1993-94 has been excellent.  The turnover of the Company has
 increased substantially during 1993-94 to Rs.9453 lacs from 9100
 lacs(for fifteen months) of previous year recording a annualised
 growth of30%.  The company in fact is one of the market leaders
 infancy spun yarn.
 
 The company is already in export market for last five years. Export
 of yarn and fabric during the year 1993-94 has been to the tune of
 Rs.16.16 crores compared to Rs.10.98 crores (15 months) of previous
 year, showing an annualised increase of 84%. The Company has been
 recognised as Export House by Ministry of Commerce for its export
 achievements.  The Company has established a good overseas market of
 yarn and fabric.  In order to increase value added exports which will
 ultimately improve profitability of the company a new weaving unit in
 the name and style of Toshco International has already been set up
 wherein 24 Air Jet looms are working.
 
 The Company is undertaking expansion and modernisation programmes in
 phased manner.  Before the commencement of this IIIrd phase of
 expansion project the company has already completed 1st phase in
 which 2880 spindles are installed.  In IInd phase company has
 installed 2880 spindles and 21 Air Jet looms taking total installed
 capacity of the company before commencement of this phase to 40,260
 spindles and 45 Air Jet looms with total outlay of 1175 Lacs.  These
 two phases were funded by term loans of Rs.610 lacs from IDBI, Rs.200
 lacs by UTI and balance from internal accruals.
 
 
 2004
 
 -Banswara Syntex Ltd has set up a trouser factory in Daman following
 a number of requests from its customers to provide them a `package'
 of value-added products
 
 2006
 
 Banswara Syntex Ltd (BSL) has entered into a 50:50 joint venture with
 Carreman Michel Thierry (CMT), France.
 
 -Banswara Syntex has given the Bonus in the Ratio of 1:2
 
 2007
 
 -Banswara Syntex was awarded Highest Export Performance in Man Made
 Fibre Blended Fabrics
 
 -Banswara Syntex secures export orders worth Rs 20 cr.
 
 2008
 
 -Banswara Syntex was awarded Highest Export Performance in Man Made
 Fibre Blended Fabrics
 
 -Started Worsted Spinning Division to produce wool mixed yarns. 
 
 -Started Cotton yarn dyeing at Banswara.
 
 2009
 
 -Banswara Syntex was awarded Best Overall Export Performance SRTEPC
 Special Award
 
 -Banswara Syntex was awarded Best Export Performance in Man-Made
 Fibre Blended Yarn
 
 -Banswara Syntex was awarded Best Export Performance in Man-Made
 Fibre Blended Fabrics
 
 -Banswara Syntex was awarded Best Export Performance in Acrylic Yarn
 
 -Company started production of technical fabric and jacquard
 technical fabric.
 
 2010
 
 -Banswara Syntex was awarded Best Export Performance in Man-Made
 Fibre Blended Fabrics
 
 2011
 
 -Banswara Syntex was awarded Best Export Performance in Synthetic &
 Rayon Spun Fabrics
 
 -Banswara Syntex launches new fashion brand 'SaintX'
 
 2012
 
 -Banswara Syntex was awarded for Fourth Best overall Export
 Performance in the category of SRTEPC Special Award (Trophy)
 
 -Award for Best Export Performance in the category of Man-made Fibre
 Blended Yarn (Gold Trophy)
 
 -Award for Best Export Performance in the category of Acrylic Yarn
 (Gold Trophy) 
 
 -Award for Best Export Performance in the category of Man-made Fibre
 Blended Fabrics (Gold Trophy) 
 
 -Banswara Syntex entered into a 50:50 Joint Venture (JV) agreement
 with France based Treves S.A.
Source : Dion Global Solutions Limited
Quick Links for Banswara Syntex
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.