Niwas Spinning Mills Ltd

Key Stats

Day's Price Range
52-Week Price Range

Company Financials

  • Annual
Value in ₹ crore

Peer Comparsion

Rank 463
Rank 467
Rank 542
Dividend Yield
Rank 185
Rank 987
Price To Book Ratio
Rank 365
Debt To Asset
Rank 529

Company Information

Incorporated as a private limited company Niwas Spinning Mills became a public limited company in 1986. Its manufacturing unit is located in Solapur in Maharashtra.The company is engaged in openend spinning of cotten yarn which is mainly used in bedsheets ropes towels etc of which Solapur is a major consuming centre.During 199192 it undertook a Rs 10.50cr project to increase the manufacturing capacity by setting up six openend spinning units to manufacture cotten synthetic yarn of higher counts mainly to cater to the export market. The spinning machines were imported from Elitex Czechoslovakia. The company entered into the export market by establishing a 100 EOU to manufacture and market terry towels. The potential areas of exports are Europe the Gulf countries and the US.During 199596 Zero Interest 5446875 Fully convertible debentures issued in May95 were converted into 13751550 Equity Shares at a premium of Rs.30.Since the spinning industry passed through a very tight market condition where the demand for yarn was significantly low the networth of the company has eroded and hence it has made a reference to BIFR during the year 19992000.
OrganisationNiwas Spinning Mills Ltd