Alps Industries Ltd Share Price

History of Alps Industries Ltd

Alps Industries Ltd (AIL) (formerly known as Alps Textiles Pvt. Ltd.) which started as a Partnership Firm in 1962 was converted into a Private Limited Company in 1972 and became a Public Limited Company. The Company is into manufacture and selling of home furnishings, made-ups, window coverings and architectural products like venation blinds, vertical blends, artificial ceilings, drapery rods etch under the brand name 'Vista Levolor'. AIL came out with a public issue(size Rs.7.79Cr) in April 1995 to part finance its expansion programme. It set up a spinning, weaving, processing and fabrication unit in Ghaziabad, UP, which is producing vegetable dyes, cotton, yarn, and fabricate and dye cotton fabric and fibre. The company has been supplying to Park B Smith, US, for over 20 years. T ...he window coverings division has a collaboration with Levolor Corporation, US, while the natural dyes have been developed in technical association with IIT, Delhi. AIL has also recently entered into an exclusive collaboration with Franciaflex Company, France, for production of awnings, a new concept in elegant sun protection. The company has also purchased a process house in Noida, and entered into an agreement with NHDC for setting up a process house to meet the growing requirement of eco-friendly textiles by exporters. AIL has been steadily exporting to Japan, Canada, the US, Germany, the UK, etc. Its products find a regular place in Harrods, Bloomingdales and Macy's departmental stores. In 2000, the company has started manufacturing of Pashmina Shawls and fashion accessories which was exported to Europe, Hong Kong, Japan and U.S.A. It has also enhanced its fibre dyeing capacity by adding a plant imported from Italy. Investments have been made in Assam and Madhya Pradesh, manufacturing printed and specially processed fabrics for industrial applications.The company was awarded ISO 14001 certification and ISO 9002 certification by KMPG, Netherlands, for conforming to environment friendly process. During 2001 the company has initiated modernization programme on which the spinning machines have been replaced with ring spinning machines.The Weaving capacities are also modernised with new state of art looms.A natural dyes for textiles was developed by the company.It has also signed MoU with IIT,Mumbai for setting up an SCFE plant based on technology developed by them. In 2005, the Company launched high-value real wood flooring and aluminum composite panels. It floated a wholly owned subsidiary Alps Retail Private Ltd to set up branded retail presence in the domestic market. It increased domestic dealership network from 150 distributors to 192 distributors. During the year 2005-06, the Company made two fresh equity issues. It made a domestic issue of 4,150,500 equity shares in October 2005 and followed it up with a GDR offering under which it issued 5,382,750 shares in March 2006. GDRs got listed on the Luxembourg Stock Exchange. The total funds raised from the issues were Rs. 498.06 millions and Rs. 972.50 millions respectively. The funds from the domestic offering were used to set up the spinning unit at Haridwar, which already commenced commercial production in February 2006. The funds from GDR offering were deployed in the expansion projects of spinning at Haridwar unit and weaving at Sahibabad unit. During 2006-07, significant capacities of yarn spinning that commenced operations during the second half of 2005-06 achieved improvement in utilization levels as production got streamlined progressively. Operations commenced at the leased facilities of Jaspur Spinning Mill in May 2006 after necessary refurbishing. Apart from this, a wholly owned subsidiary company named Alps USA Inc. was established in April 2007 in the USA. The second phase of expansion of Spinning Unit for Compact Yarns Project was completed which commissioned 66,000 spindles, out of which 31,200 for Compact Yarn and 34,800 for normal Yarn and resulting to this, the Company commenced commercial production of the plant from January, 2008. It added 25 TFO machines to produce Doubled Yarn at the Haridwar Unit. It introduced Stainless Steel Architectural Hardware, under the brand Vista'. It started production on Transfer Printing machine installed in FY 2017-18. In 2018-19, it ventured into fire retardant fabrics suitable for hotel industry and Defence sector for technical textiles. It started new products in Yarn segment.