Damodar Industries Share price

The Company was incorporated on 11th December 1987 as a private limited company with the main object to set up an unit at Daman for twisting and doubling of synthetic yarn. Its commercial production started in September 1988. The Company was converted into public limited company on 20th March 1992 by passing a special resolution in Extra Ordinary General Meeting held on 4th March 1992. The Company''s Multicoloured Yarn project at Vapi (Gujarat) commenced production in March 1993. In 3rd phased company proposed to set up Fancy yarn project at Daman Union Territory which shall be part finance by Public Issue. The Company is making profits for the last 5 financial years. The profitability for the financial year 1992-93 was adverselyeffected due to disturbances in several part of the country particularly in major textile centres Bombay and Surat. The details of installed capacity plant & machinery cost of project and means of finance of existing units at Daman and Vapi are as under: Installed Capacityitems Daman Unit Vapi Unit(kgs. in lacs)Fancy yarn3.60 2.60Major Plant & Machinery Daman UnitVapi UnitNos.Nos.Rapid Dryer 50 kgs. 1Thermic fluid heater 1High speed dye packageWinder 1Fancy yarn dyeing machine 1Yarn dyeing machine 1Tarn setting machine 1Cone winding machine 18Twisting machine 7Cradle winding machine 2Fancy double twister 2PRESENT BUSINESS OF THE COMPANY.The company is presently engaged in the business of SyntheticFancy Yarn processing at its unit at Daman (Union Territory) andVapi (Gujarat).