CLASSIC FILAMENTS Share price

Classic Filaments Limited (CFL) was originallyincorporated as a Private Limited Company on 24th April 1990in the name and style of V. Natverlal Synthetics PrivateLimited The original promoters of that company were ShriVinod Kumar Agarwal and Shri Rameshchandra Godiawala. Thepresent promoters Shri R.M Mittal and Smt Renu Mittaljoined the Company Board in July 1991 and September 1993respectively. The name of the Company was changed toClassic Filaments Private Limited on 10th September 93 and afresh certificate war obtained from the ROC Gujarat on10th September 1993. The company has subsequently beenconverted into a Public Limited Company vide the BoardResolution dated 21-01-1995 and a fresh certificate fromRegistrar of Companies Gujarat Dadra & Nagar Haveli hasbeen obtained on 15th February 1995.The company is presently engaged in the manufacture oftexturised Polyester Yarn with a installed capacity of 350mtpa based on 50 Denier. The Company also from time totime sources its turnover by way of job work contracts. Theexisting manufacturing facilities include 3 machineshaving a aggregate of 720 Spindles located at Pipodara andAnkleshwar in Gujarat. The Company now proposes to expand its capacity byinstalling 4 more Texturising machines of SDS 9 and SDS 7type with 864 Spindles for manufacture of additional 2850MTPA (on mix of 50 & 84 Denier basis) of Yarn. Two machineswill be attached with airjets with male & female couplingwith many folds for better value addition.The Company has already partly implemented expansionprogramme by installing a Texturising machine 1 No. SDS 7216 Spindles with the financial assistance from GSFC andInternal accruals at Karanj. The Company proposes to diversify into Wind PowerGeneration of 500 KW for its captive consumption. TheCompany plans to reduce its power cost to Nil within next 5years which is expected to give a significant costadvantage to the Company vis-a-vis other players in theindustry.