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.