Mohite Industries Ltd Share Price

History of Mohite Industries Ltd

Incorporated on 31st Oct.'90 as a public limited company, Mohite Industries Limited, formerly known R M Mohite Textiles Limited was promoted by Mohite Shivaji Ramchandra and Monika Shivaji Mohite. The Company changed its name from ' R M Mohite Textiles Limited' to 'R M Mohite Industries Limited' on 04 November, 2011 in Pune and again to Mohite Industries Limited on February 2, 2015. The Company has expanded its capacity with most modern latest and sophisticated machines. The state of the art machinery and technology was supplied by the reputed and renowned world class leaders In textile machinery like RIETER, SCHLAFHORST, LUWA, VOLKMANN, USTER etc. . After completion of its expansion and modernization, the company has installed capacity of 33,312 spindles. The company set up a 100% ...export oriented cotton spinning unit to manufacture carded and combed yarn which commenced commercial production on 2nd May'93. RMMTL came out with a public issue in Dec.'96 to part-finance its 100% EOU expansion project to manufacture a variety of cotton yarn 30/1s (combed and carded) count. Looking to the high potential of the cotton yarn exports, Company had gone for expansion by setting up of 12096 spindles. The cost of expansion project was Rs 36 Crores. Commercial operations relating to the expansion project started from 1st October 1998. The Company opened its branch office in Ajman Free Zone, U.A.E., in March, 2004. The installed capacity of spinning-unit increased to 35216 spindles from the installed capacity of 29744 spindles in 2004. The Company commissioned Hydro Electric Project of 10 MW capacity at Radhanagari (Maharashtra) in 2010-11. It held 51 % stake in First Steps Baby-Wear Pvt. Ltd. based in Bangalore. Thereafter, it acquired another Hydro Power Project of 3.5 MW capacity at Kallamawadi Dam foot on BOT basis in 2011 and started construction of power house. It acquired subsidiary i.e. Solitaire Constructions Private Limited in 2018-19. Thereafter, it also ventured in manufacturing of gray knitted fabric by installing various types of knitting machines. The grey fabric manufactured got high demand in the market and the company has planned to install facilities for processing of fabric. The company has also ventured in generation of Electric Power by installing Hydro Power Plant at Radhanagari Dam Foot near Fejiwade, Radhangari. The capacity of the project is 10 MW.