GINI SILK MILLS Share price

During the period 1981 to 1988 the Company was running aprocess house on lease basis at Andheri Bombay belongingto its group concern M/s. Gini Silk Mills a partnershipfirm. However in 1989 a division of Harlalka familybusiness took place as a result of which GINI stoppedrunning the Process House and the partnership firm went toother family members. Gini Silk Mills Ltd. (Gini) startedselling shirting under the brand name ''GINI'' by procuringthe grey fabrics and getting it processed from outside. Inthe year 1985 GINI set up its own weaving unit atKandivli Bombay. However it continued to procure greyfabrics from outside also to increase the turnover. Thebrand name of ''GINI'' has been registered as a trade mark byGini Silk Mills Ltd. a Vishwanath Harlalka Enterprise.GINI is now proposing to set up a Process House at E-15MIDC Tarapur Dist. Thane to process grey fabrics mainlyshirtings manufactured by the Company and its associatefirms as a diversification project. The proposed installedcapacity is to process 150 lac mtrs. of fabrics per annumon 3 shifts and 300 working days basis.PRESENT BUSINESSThe Company is engaged in the manufacturing of polyestershirting fabrics and has a weaving unit at Kandivli Bombaywith 20 looms installed. The promoters are also getting thefabrics processed from outside processors for marketing.The Company has been operating at a capacity utilisation ofover 80% for the past five years and has a track record ofgrowth and consistent profitability for the last fiveyears.The Company has been depending heavily on outsideprocessors for processing of grey fabrics where both thedelivery schedules and the quality was not being maintainedand in order to overcome these problems the promoters havenow decided to set up their own process house at MIDCTarapur to process the fabrics manufactured by theassociate companies as well as for GINI.