The
Company was incorporated as a Private Limited
Company on 13th August 1984 under the name of
Nakoda Textile Industries Private Limited. It
became a deemed Public Limited Company by virtue
of Sec. 43 A of Companies Act 1956 on 17th August
1989. By means of resolution passed by company
in annual general meeting held on 16th September
1991, company was converted into Public Limited
Company. The Company was engaged in trading of
yarn for year since incorporation and estabished
it's own texturising plant at Silvassa in the
Union Territory of Dadra & Nagar Haveli in
February 1986. It was engaged in processing of
Polyester Yarn like Texturising & Twisting.
It's license capacity & installed capacity
of Texturising was 708 M.T. and Twisting is 525
M.T. in 1991. The Texturising capacity was then
expanded to 2658 M.T. by adding new texturising
machines. The expansion plant was setup at village
Karanj. The company embarked upon integrated plan
of POY spinning with an installed capacity of
6000 MTPA, initially. POY spinning lines alongwith
other machineries were erected at the site and
commercial production commenced in March 1997.
The company then discontinued trading activity
in grey cloth. Gradually, POY capacity was enhanced
to 12500 MTPA by installation of balancing equipements,
increasing productivity, introducing cost control
and developing capabilities of human resources.
The Company made its maiden Public issue of Fully
Convertible Debentures aggregating to Rs. 600
lacs in the year 1992. A preferential allotment
of equity shares aggregating to Rs. 494.50 lacs
was made in the year 1997. With this allotment
the total Paid up Equity capital is Rs. 1100 lacs.
The shares are listed at Bombay
Stock Exchange.
In
the year 1999 the company was successful in acquiring
plant and machineries of Garware Nylons Ltd. (in
Liqn.) Pune. It has enhanced its POY production
capacity to 21600 MTPA in the year 2001. Further
company also acquired POY production facilities
of Indian Organic Chemicals Ltd., Chennai. The
equipements of same where used at surat plant
for further expansion and to enchance production.
In the year 2004 POY spinning capacity has been
expanded to 31000 MTPA.
In the year 2007 company undertook Expansion envisaging addition of 20,000 MTPA of Fully Drawn Yarn (FDY) to the existing capacity. The FDY plant became fully operational in November 2007. FDY is expected to improve both, the top and bottom line of the company significantly as FDY is a more value added product. Unlike POY which has to be texturised before conversion to fabrics. FDY can be directly used for weaving. | 
