Mid India Industries Ltd

Mid India Industries Ltd (MIDINDIA)


Key Stats

Day's Price Range
52-Week Price Range
1 Month Return-3.47 %
3 Month Return-36.86 %

Company Financials

  • Annual
Value in ₹ crore

Peer Comparsion

Rank 458
Rank 463
Rank 529
Dividend Yield
Rank 186
Rank 591
Price To Book Ratio
Rank 353
Debt To Asset
Rank 529

Company Information

Incorporated in Mar.91 as Mid India Spinning Company a public limited company Mid India Industries MIIL is a 100 exportoriented spinning unit. MISL is mainly promoted by R P Ganediwal and others. Its name was changed to the present one in Feb.95.The companys unit is located in Mandsaur a rich cottongrowing area in Madhya Pradesh. It went public in Mar.93 to meet the entire capital requirement for the first phase of the installation of 12480 spindles at a cost of Rs 16.3 cr. The plant is equipped with stateoftheart spinning machines. Commercial production started in Jan.94. The company has entered into a MoU with Unimax Italy for the purchase of the entire production. For the second phase of expansion 12500 spindles building construction has been already started and machineries are almost finalised. In 199596 the company earned foreign exchange worth Rs 18.94 cr. During 199697 the second phase of cotton yarn has been postponed for the further expansion of installation of another 8160 spindles. Company is planning to open overseas office to make effective marketing in the international yarn market and provide best services to the foreign buyers.As the accumulated losses of the company have resulted in erosion of more than 100 of its net worththe company has become a sick industrial company as per Section 31O of SICA .
OrganisationMid India Industries Ltd