Swadeshi Polytex Ltd

Swadeshi Polytex Ltd (503816)


Key Stats

Day's Price Range
52-Week Price Range
1 Month Return-17.91 %
3 Month Return27.47 %
1 Year Return69.33 %

Company Financials

  • Annual
Value in ₹ crore

Peer Comparsion

Rank 82
Rank 82
Rank 97
Dividend Yield
Rank 19
Rank 78
Price To Book Ratio
Rank 51
Debt To Asset
Rank 97

Company Information

Incorporated in Mar.70 Swadeshi Polytex 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 knowhow. The company manufactures polyester staple fibre. R Ramkrishna in the present chairman of the company.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 12200 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 30000 tpa but actually it was increased first to 10000 tpa in 198788 and then to 14000 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 Calcuttabased Swarup group with a 24 share is the secondlargest shareholder in the company.For the second consecutive year during 19992000 there has been no operation and production in the company and the same stands 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.
OrganisationSwadeshi Polytex Ltd