Moneycontrol
Get App
SENSEX NIFTY
you are here:

Hind Syntex Ltd.

BSE: 503881 | NSE: HINDSYNTEX | Series: BZ | ISIN: INE155B01012 | SECTOR: Textiles - Spinning - Synthetic Blended

BSE Live

Mar 11, 16:00
1.66 -0.08 (-4.60%)
Volume
AVERAGE VOLUME
5-Day
483
10-Day
683
30-Day
514
938
  • Prev. Close

    1.74

  • Open Price

    1.66

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Mar 11, 15:32
1.45 -0.05 (-3.33%)
Volume
AVERAGE VOLUME
5-Day
313
10-Day
369
30-Day
292
1,356
  • Prev. Close

    1.50

  • Open Price

    1.50

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Company History - Hind Syntex
YEAR                       EVENTS
 1980 - The Company was Incorporated on 3rd December, in Madhya
 Pradesh.
 
      - The Company's object is to manufacture and processing of
 manmade
        fibres and synthetic blended yarn such as rayon, acetate and 
        triacetate, acrylic, modacrylic and anidex.
 
      - The Company was promoted by Hind Filters Pvt. Ltd. (HPL) and
        Shri. Ravi Mohan in association with Madhya Pradesh Audyogik 
        Vikas Nigam, Ltd. (MPAVN), to set up a spinning mill
 initially
        with a complement of 16,320 spindles.  The product-mix
 envisaged
        comprised of 20s viscose yarn, 2/40s polyester viscose
 blended
        (48:32) both grey and dyed yarn.
 
 1981 - 900 shares taken up by signatories to the Memorandum of 
        Association.
 
 1982 - In 1983, 27,49,100 shares issued of which 10,19,100 shares to
        promoters (7,00,000 shares to Hind Filters Pvt. Ltd. and
 3,19,100
        shares to Shri Ravi Mohan, his friends, etc) and 3,00,000
 shares
        to MPAVN were reserved and allotted.  The balance 14,30,000 
        shares offered to the public at par.
 
 1986 - Working resulted in lower profits due to an increase in the
 cost
        of production.
 
      - 3150 No. of equity shares forfeited.
 
 1987 - Forfeiture on 550 No. of equity shares annulled.
 
 1988 - The Company undertook a project to set up a new unit at 
        Pillukhedi, Rajgarh, Madhya Pradesh with a spindleage of
 15,360 
        which was further rasied to 18,240.
 
      - Forfeiture on 550 No. of equity shares annulled.
 
 1989 - Profitability was affected due to a strike from 17th February
 to
        14th March, 1990.  The factory restarted operations on 14th
 March
        1990 on go slow and large scale absenteeism.
 
      - Forfeiture on 100 No. of equity shares annulled.
 
 1990 - Production was severely affected at Birgod unit due to strike
 by
        workmen for about three months from April to June.
 
 1991 - Profitability, was however, severely affected due to higher 
        interest cost and steep increase in excise duty.
 
      - 14% non-convertible debentures for the aggregate face value
 of
        Rs.125.0 lakhs were privately placed with UTI in June.  The
        implementation of the project was delayed due to non delivery
        of plant and machinery as per schedule.
 
 1992 - 27,19,650 No. of equity shares allotted in prop. 1:1.
 
 1994 - Profitability was affected due to commensurate increase in
 raw
        material cost which could not be passed on to the customers.
 
      - 7200 spindles were installed at Pillukhedi Unit No.2.
       
      - The Company further proposed to start construction of new
 factory 
        building to house 14,400 spindles.
 
 1995 - The profitability was affected, due to general increase in
 cost.
        The Company is facing uphill task due to severe recession in 
        textile industry and continuous price fall.
 
      - Birgod unit was closed from 5th June, to 24th June, due to
        illegal strike by the working resulting in loss of production
 350
        Tons dyed yarn.
 
      - 2880 spindles were installed at Pillukhedi Unit No.2.  The 
        Company has also set up 2 Nos. NEPC MICON, Wind Electrical
        Generators of 225 KW each, with a capacity outlay of Rs.220
 lakhs
        at Jamgodrani Hills near Dewas, through M.P. Windfarms Ltd.
 
 2007
 
 -The Company has given Investor Grievance Redressal email ID -
 hslindr@sancharnet.in.at  website www.hind-syntex.com on the page
 address.
 
 2012
 - Hind Syntex Ltd has appointed Mr Vinod Dinanath Nadkarni as a
 Nominee Director of the company.