Reliance Chemotex Industries Ltd

History of Reliance Chemotex Industries Ltd

Incorporated in 1977 in Maharashtra, Reliance Chemotex Industries Limited (RCIL) is engaged in manufacturing and sale of Synthetic & blended Yarn. The Company commenced as a small spinning mill that addressed the needs of apparel fabric manufacturers in 1979. In 1982, it expanded the production capacity to 16,320 spindles. The Company implemented a modernisation-cum-expansion programme to increase its capacity to 17,280 spindles. It entered the capital market to part-finance this expansion. It completed expansion programme and the commercial production started from Mar.'96. To meet its Working Capital requirements the company issued 16% NCD of Rs.300 lacs to IDBI on a private placement basis. It also allotted 2,48,500 10% Cumulative Preference shares of Rs.100/-each to promoters and their associates during 2002-03. RIICO has sanctioned a Term loan of Rs.122.50 lacs under TUF for modernisation and installation of various machines. The Company initiated further expansion of its spinning capacity by adding another 14,976 spindles and out of them 6240 Spindles already installed and commissioned during the year 2008-2009. The Captive Power Plant of 135 MW located at Bikaner in Rajasthan was started in July, 2010. The Company undertook the expansion and modernization of its existing plant at Udaipur which commenced commercial plant production in May, 2013. During the financial year 2021-22, the Company embarked on an expansion project with a total project cost of approxi ...mately 100 crores. The Company expanded the capacity by adding 13,440 spindles at Udaipur, Rajasthan Plant on March 30, 2024. The company's capacity has increased to 68,256 spindles from 54,816 spindles i.e. an increment of capacity around 25%.