Modern Denim Ltd

Key Stats

₹0.6
Day's Price Range
₹0.6
₹0
52-Week Price Range
₹0.6

Company Financials

  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 459
EPS
Rank 464
BVPS
Rank 529
Dividend Yield
Rank 186
ROE
Rank 592
Price To Book Ratio
Rank 353
Debt To Asset
Rank 529

Company Information

Established as Modern Suitings Modern Denim MDL belongs to the Modern group. In 1990 it formed its denim division for which a 100 EOU was set up at Ahmedabad which commenced commercial production in 199293 using rope dyeing technology to manufacture indigo blue denim. In 1993 MDL acquired its present name after its suitings business was vested with Modern Syntex I a group company. It is the second biggest denim manufacturer in the country. MDL entered into a technical agreement with Tencate Consultants TCC Holland for the denim project. TCC will in turn be acquiring the technical knowhow from Atlantic Mills Ireland which manufactures indigo blue denim fabric.Its product quality is widely appreciated in the international market including the UK the US Singapore Hong Kong Chile West Asia etc. MDL plans to tie up with a leading manufacturer of jeans to produce readymade jeans.It issued right NCDs and privately placed preference shares to increase its capacity from 7.2 mln mtr pa to 10 mln mtr pa and to put up an EPCG denim unit with a capacity of another 10 mln mtr pa to increase its total capacity to 20 mln mtr pa. This expansion has been completed and has commenced operations from Oct.95. It now plans to implement the balancing scheme to improve the capacity utilisation and also diversify the product mix to cater to the highly competitive international market.The accumulated losses of the company at the end of 31st March 1999 have resulted in erosion of more than 50 of its peak net worth during the immediately preceeding four financial years making it potentially sick industrial company and has therefore decided to submit the necessary report of such erosion of net worth to the BIFR.As the Denim Industry is in the recessionary trend the company suffered a lot during the year also and still not recovered from the heavy loss.However the demand for new innovations like Ring DenimStretch Denim used by fashion designers are increasing world over.
OrganisationModern Denim Ltd
HeadquartersJaipur
IndustryTextiles