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Raj Rayon Industries Ltd.

BSE: 530699 | NSE: RAJRAYON | Series: BZ | ISIN: INE533D01024 | SECTOR: Textiles - Processing

BSE Live

Aug 03, 14:10
0.27 -0.01 (-3.57%)
Volume
AVERAGE VOLUME
5-Day
19,525
10-Day
22,438
30-Day
89,638
18,001
  • Prev. Close

    0.28

  • Open Price

    0.29

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.27 (13133)

NSE Live

Aug 03, 14:05
0.25 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
194,894
10-Day
206,378
30-Day
395,206
288,492
  • Prev. Close

    0.25

  • Open Price

    0.25

  • Bid Price (Qty.)

    0.25 (469166)

  • Offer Price (Qty.)

    0.30 (414055)

Company History - Raj Rayon Industries
The Company was incorporated on 17th August 1993 as a public limited 
 company with Registrar of Companies, Maharashtra and obtained
 Certificate 
 of Commencement of Business dated 1st September, 1993. 
 Mr. Gourishankar Poddar and Mr. Ratanchand Jain originally promoted
 the
 company. Later, Mr. Ratanchand Jain disassociated himself from the
 Company 
 and Mr. Sushil Kumar Kanodia became one of the company's promoters.
 Due to other 
 interests, Mr. Sushil Kumar Kanodia resigned as Chairman & Joint
 Managing 
 Director of the Company in January 2001 and gradually his entire
 shareholding 
 was transferred, by way of gift, to Mrs. Rajkumari Kanodia, who is
 one of the 
 main Promoters now, with Mr. Gourishankar Poddar and Raj Money Market
 
 Limited.
 
 It  is mainly been engaged in the manufacturing of Polyester
 Texturised 
 Yarn. It started  manufacturing activities in the year 1994, by
 installing 
 one texturising machine with a manufacturing capacity of 600 T.P.A.
 (capacity 
 based on manufacturing Polyester Texturised Yarn of 80 Denier) at the
 company's
 first unit (Unit I) situated at Survey No. 272/1/1, Village Dadra,
 Silvassa, Dadra 
 and Nagar Haveli, UT.
 
 It has made the company's maiden public issue in April 1995 of
 14,40,000 equity shares of 
 Rs.10/- each aggregating Rs.144 Lacs and the company's Equity Shares
 were listed on 
 Bombay Stock Exchange Limited and the Jaipur Stock Exchange. The main
 
 object of the Issue was to expand the company's manufacturing
 capacity of Polyester 
 Texturised Yarn from 600 T.P.A. to 1,200 T.P.A. (capacity based on
 manufacturing 
 Polyester Texturised Yarn of 80 Denier), by adding one more 
 texturising machine. 
 The total capital outlay for this expansion project was Rs. 263 Lacs,
 which was to
  be financed by public issue of Equity Shares aggregating Rs. 144
 Lacs, Promoters Contribution in the public issue aggregating Rs. 69
 Lacs, and Term Loan of 
 Rs. 50 Lacs from The South Indian Bank Limited The commercial
 production of 
 this project commenced on 31st October 1995.
 
 In the year 1996-97, It commenced setting-up of company's second unit
 (Unit II) at 
 village Amli, Silvassa, for manufacturing Polyester Texturised Yarn
 with a 
 capacity of 2,600 T.P.A. (capacity based on manufacturing Polyester 
 Texturised Yarn of 80 Denier) by installing four Draw Texturising
 machines. 
 The total capital outlay for this project was Rs.1,170 Lacs, which
 was
 financed by IDBI by way of term loan aggregating Rs. 700 Lacs, Rs.
 200 
 Lacs by way of preferential allotment to Promoters and Promoters
 Group & 
 balance Rs. 270 Lacs was by way of internal accruals. Commercial
 production 
 for this project commenced in the year 1997-98.
 
 In the year 1998-99, it started further expansion at Unit II, for
 manufacturing 
 Polyester Texturised Yarn with a capacity of 2,600 T.P.A. (capacity
 based on 
 manufacturing Polyester Texturised Yarn of 80 Denier) by installing
 four Draw 
 Texturising machines. The total capital outlay for four texturising
 machines & 
 supporting equipments, aggregating Rs. 667 Lacs was financed by SICOM
 
 Limited by way of lease assistance. Commercial production for this
 project 
 commenced in the second quarter of year 1999.
 
 In the year 1999-2000, the funding assistance from The South Indian
 Bank 
 Limited were taken over by State Bank of India.
 
 In the year 2001-02, it undertook another expansion project at our
 third unit 
 (Unit III) situated at Survey No. 259/12, Village Dadra, Silvassa.
 This expansion 
 project was completed in two phases. In the first phase, the
 installation of six 
 texturing machines with a manufacturing capacity of 7,590 T.P.A.
 (capacity based 
 on manufacturing Polyester Texturised Yarn of 80 Denier) was
 completed in June 
 2003. The total capital outlay in the first phase was Rs. 1,590 Lacs,
 which was 
 partly financed by SICOM Limited by way of a term loan aggregating
 Rs. 1,000 
 Lacs. The balance amount of Rs. 590 Lacs was funded by way of issue
 of 
 additional equity share capital aggregating Rs. 150 Lacs
 (preferential allotment 
 to Promoters and Promoters Group) and Rs. 440 Lacs was by way of
 cash 
 accruals.
 
 During the year, 2003-04, the entire financial assistance from IDBI
 (Term Loan of 
 Rs. 140 Lacs) & SICOM Limited (term loan of Rs. 734 Lacs and finance
 lease of 
 Rs. 217.30 Lacs) was taken over by State Bank of India. In the second
 phase of
 expansion at our Unit III, it  installed another six texturing
 machines, with a 
 manufacturing capacity of 7,650 T.P.A. (capacity based on
 manufacturing Polyester 
 Texturised Yarn of 80 Denier), installation of which was completed in
 March 2004. 
 The total capital outlay in the second phase was aggregating Rs.
 1,500 Lacs, which 
 was partly financed by State Bank of India aggregating Rs. 900 Lacs.
 The balance 
 amount of Rs. 600 Lacs was funded by way of additional equity share
 capital
 aggregating Rs. 200 Lacs (preferential allotment to specified
 persons) and Rs. 400 
 Lacs was by way of internal accruals.
 
 In the year, 2003-04 itself, we further planned to move into backward
 integration for 
 production of POY, which is the key raw material for manufacturing
 Polyester 
 Texturised Yarn, at the company's fourth unit (Unit IV) situated at
 Village Surangi, Silvassa. Initially, this project was commenced with
 a manufacturing capacity of 30,000 T.P.A.
 (capacity based on manufacturing average 150 Denier of POY) and the
 total 
 projected capital outlay was Rs. 3,453 Lacs, which was partly
 financed by 
 State Bank of India aggregating Rs. 2,000 Lacs. The balance amount of
 
 Rs. 1,453 Lacs was to be funded by equity aggregating Rs. 1,000
 Lacs,
 internal accruals aggregating Rs. 353 Lacs and unsecured loans
 aggregating 
 Rs. 100 Lacs. 
 
 However, during the initial stages of the  implementation of the
 project, the Company 
 found  good potential in the demand of POY and it also received
 business enquiries 
 for purchase  of POY itself. Accordingly,  The company's management
 decided to 
 increase the capacity of the POY project from 30,000 T.P.A. to 60,000
 T.P.A. 
 (capacity based on manufacturing average 150 Denier of POY). The
 doubling of total production capacity will be carried out by
 converting the winders with 2 thread lines 
 into 4 thread lines and by carrying out other modifications,
 accordingly as required in the overall project.
 
 Further, since the shares of the Company were not traded on the
 Jaipur Stock Exchange, 
 it  got the company equity shares de-listed from the Jaipur Stock
 Exchange with effect from 
 17th August 2004. 
 
 During the year 2004-05, It has entered into trading activities of
 various imported items 
 like ready made garments, sports items, decorative lights & other
 consumables and items of 
 household / kids use. It is  currently selling these items to
 Pantaloon Retail (India) 
 Limited (BIG BAZAAR) outlets all over India.
 
 2005 
 
 -Raj Rayon Ltd has informed that the price band of the proposed 100%
 book building Public Issue of 85,00,000 Equity shares of Rs 10/- each
 for cash at a Price of Rs 55/- per Equity Share at the Lower end and
 Rs 65/- per equity Share at the Higher end be and is hereby fixed and
 accordingly the issue price will be 5.5 times the face value at the
 lower end of price band and 6.5 times of the face value at the higher
 end of price band.
 
 2007
 
 -Raj Rayon Limited has informed that Mr. N.V.Agandeswaran Company
 Seceretary, holding ACS No: 7966 who has been appointed as the
 Company Secretary of the Company with effect from 20th December 2006
 has been re-designated as Company Secretary and Compliance Officer of
 the Company with effect from 2nd February 2007.
 
 -Registered Office of the Company has been shifted From 3A/205,
 Mittal Ind. Estate, Sakinaka, Mumbai - 400059 India To  5-C/196 & 197
 Akshay Mittal Industrial Estate, Sakinaka, Andheri (East), Mumbai -
 400059 India.
 
 2010
 
 -Company has changed its name from Raj Rayon Ltd. to Raj Rayon
 Industries Ltd.                                                  
 
 2011
 -Registered Office of the Company has been shifted From 5-C, 196/197,
 Akshay, Mittal Industrial Estate, Saki Naka, Andheri (East), Mumbai-
 400 059, State of Maharashtra To Survey No. 177/1/3 & 177/1/4,
 Village - Surangi, Dist -Silvassa, Dadra & Nagar Haveli (UT) - 396
 230 
 
 -Registered Office of the Company has been shifted From Survey No.
 177/1/3 & 177/1/4, Village - Surangi,  Dist - Silvassa, Dadra & Nagar
 Haveli (UT) - 396 230 To Survey No. 177/1/3, Village - Surangi, Dist
 -Silvassa, Dadra & Nagar Haveli  (UT) - 396 230.
 
 2013
 -Company has splits its Face value of Shares from Rs 10 to Re 1. 
 
 2014
 -Mr. Naval Babulal Kanodia has been appointed as Whole Time Director
 of the Company.