Swadeshi Polytex Ltd

Swadeshi Polytex Ltd Technicals

Swadeshi Polytex Ltd Financials

Swadeshi Polytex Ltd Shareholding Pattern

About Swadeshi Polytex Ltd

Incorporated in March, 1970, Swadeshi Polytex Limited (SPL) was promoted by the Swadeshi Cotton Mills Company. It entered into a collaboration with Clickers Zimmer, Frankfurt, Germany, for the purchase of machinery and supply of technical know-how. Initially, the Company manufactured polyester staple fibre. Presently, it is engaged in the activities of Real Estate Development and allied business. The company has been stagnating since its inception. No expansion or diversification plans were implemented although a letter of intent was obtained in 1981 to raise the capacity from 6100 tpa to 12,200 tpa. When Rajaram Jaipuria acquired the control of the company in 1986, he decided to increase the capacity to the minimum economic viable size of 30,000 tpa, but actually it was increased first to 10,000 tpa in 1987-88 and then to 14,000 tpa by end of Mar.'89. SPL is managed by the National Textile Corporation (NTC) which holds the largest stake in the company (33%). In Feb.'87, it staked its claim to the single largest block holding in the equity of SPL, following the nationalsation of Swadeshi Cotton Mills. The Calcutta-based Swarup group, with a 24% share, is the second-largest shareholder in the company. Company's factory was closed since 1988 at Ghaziabad. For the second consecutive year during 1999-2000, there were no operation and production in the company and the same were suspended. Since the erosion of the networth of the company has been more than 50% of the peak ...networth, the company has filed Form C' with BIFR, pursuant to provisions of SICA. The Company had entered into Real Estate in the year 2011. There has been production during 2015-16.