Marvel Industries Ltd.

Marvel Industries Limited (MIL) was incorporated on February 5, 1992
 as a public limited company and it was issued certificate of
 commencement of business on April 23, 1992 from the Registrar of
 Companies, Mumbai, Maharashtra.
 
 The company is presently engaged in the manufacture of HDPE/PP woven
 sacks of a total capacity of 2880 tpa at MIDC, Malegaon Industrial
 Estate, Sinnar, District Nashik, Maharashtra.
 
 The company started the manufacture of HDPE/PP woven sacks in May,
 1993 with a capacity of 1020 tpa.  The project of the company was
 part financed by a public issue of Rs. 33.60 lacs, promoters
 contribution of Rs. 123 lacs, rupee term loan of Rs. 225 lacs from
 SICOM/ICICI and state 
 subsidy of Rs. 30 lacs.  The company later expanded its capacity to
 2880 tpa in September, 1994.  The expansion was part financed by a
 rights issue of Rs. 156.60 lacs at par, term loan from ICICI/SICOM of
 Rs. 450 lacs and bridge loan from SICOM of Rs. 18.75 lacs.
 
 During the year 1993-94, the company produced 903 MTs of
 Polypropylene (PP) woven sacks (including 442 MTs of job work)
 indicating almost full capacity utilisation.  During 1994-95, the
 company produced 1641 MTs of woven sacks (including 37 MTs of
 jobwork) indicating a capacity 
 utilisation of 82.05%.
 
 For the eleven month period ended February 29, 1996 the company
 manufactured 2352 MTs of woven sacks indicating a capacity
 utilisation of 89.09%.
 
 The total cost of the proposed project was earlier estimated at
 Rs.2900 lacs.  However, there was a cost overrun of Rs. 73.57 lacs in
 the expansion project which increased the total project cost to
 Rs.2973.57 lacs.  The capital cost of expansion project was estimated
 at Rs. 644 lacs, which was increased to Rs. 717.57 lacs and of
 diversification project is Rs. 1326 lacs.  The commercial production
 of the expansion project was delayed by three months and it started
 in March, 1996.  Industrial Credit & Investment Corporation of India
 (ICICI) has sanctioned a term loan of Rs. 750 lacs and SICOM has
 given a sanction of Rs. 350 lacs for the proposed project.
 
 2008
 -Company has created email id for Grievance Redressal Division /
 Compliance Officer of the Company is marvel@bom3.vsnl.net.in.