Nitin Spinners Ltd Share Price

History of Nitin Spinners Ltd

Nitin Spinners Limited was incorporated on 15th October, 1992 as a private limited Company with the name Nitin Spinners Private Limited. On November 15, 1994, the company was converted into Public Limited company and the name was changed to Nitin Spinners Limited. Nitin Spinners is an ISO 9001:2008 company and a Government of India recognized Export House, manufacturing 100% Cotton and Blended Yarn, Knitted Fabrics and Woven Fabrics. The company is engaged in manufacturing of Cotton and Blended Yarn, Knitted Fabrics and Woven Fabrics. The company's range of products are used to manufacture products, such as apparel and garments, under garments, terry towels, woven fabrics, home furnishings, carpets, denim, industrial textiles, medical textiles and socks. In the year 1993, the comp ...any set up their first unit at Hamirgarh, Bhilwara (Rajasthan) for manufacturing coarse cotton yarns. They installed two open-end spinning machines with 192 Rotors each aggregating 384 Rotors which were acquired from Elitex, Czechoslovakia under EPCG scheme. In November 1993, they commenced commercial production. In the year 1994, the company undertook first expansion project involving installation of one Autoconer Machine of 216 Rotors from Schlafhorst AG & Co., Germany and increased the number of Rotors to 600. During the year 1996-97, the company undertook their second expansion project involving acquisition of two Autoconer open-end spinning machines of 240 Rotors each from Schlafhorst AG & Co., Germany and thus increased their capacity to 1080 Rotors. In October 1997, the company commenced commercial production. In September 1998, the company installed two open end spinning machines of 384 Rotors from Elitex, Czechoslovakia with total capital outlay of Rs190 lakh. In January 1999, the company was converted into 100% Export Oriented Unit (EOU), which was awarded by Government of India. In April 2002, the company completed their fourth expansion project which involved installation of 14,112 spindles to produce combed and carded cotton yarns of 20s to 40s count. They also installed 7 knitting machines as a forward integration programme. In November 2004, the company completed their fifth expansion project of adding 13,104 spindles and 6 knitting machines. In February 2005, the company undertook their sixth expansion project which involved addition of 408 Rotors and 2 knitting machines. During the year 2005-06, the company came out with initial public issue to part finance their expansion project. The shares of the company were listed with the Bombay Stock Exchange Ltd and National Stock Exchange Ltd with effect from February 2, 2006. During the year 2006-07, the company implemented expansion project for installation of 50400 spindles, Knitting Machines and F.O. based Power Plant of 7.66 MW. The plant became operational with effect from September 29, 2006. In May 1, 2007, the company commenced the commercial production for expansion of Spinning & Knitting capacity. During the year 2007-08, the company implemented expansion project of Rotor Spinning capacity by addition of 2000 Rotors and in January 31, 2008, they commenced commercial production on expanded capacity. During the year 2008-09, the company commenced commercial production on the coal/ lignite based thermal power project with the installed capacity of 10.50 MW. The Company in 2014-15, expanded spinning and knitting capacity by installing 72,480 spindles and 19 knitting machines costing Rs 281 Cr. and the commercial production on expanded capacity commenced effective on 09.02.2015. After implementation of this, expansion project installed capacity of Company was increased to 150096 Spindles, 2936 Rotors and 49 Knitting Machines. The Company installed an Integrated Textile Unit at Bhanwaria Kalan in the District of Chittaurgarh, Rajasthan at an estimated project cost of Rs 675 Crores in 2017-18. In 2023-24, Company implemented expansion project for installation of 94848 Compact Spindles and 3312 Rotors at Hamirgarh Plant (Bhilwara District) & 32640 Compact Spindles and 264 Airjet Spinning positions at Bhanwaria Kalan (Chittorgarh District) Plant. The commercial production was commenced on 28.09.2023 & 30.11.2023 respectively. The expansion projects of Weaving & Knitting capacity were completed in 2024. The Board of Directors at its meeting held on 27.01.2025 approved expansion project at an estimated project cost of Rs 1120 Crores for installation of approx. 66000 Spindles, 240 Airjet/Rapier Looms along with Dyeing & Finishing capacity, at Bhanwaria Kalan (Chittorgarh District) Plant, debottlenecking equipment at Hamirgarh Plant (Bhilwara District) and Renewal Power Project at both the Plants.