Indo Rama Synthetics (India) Share price

Indo Rama Synthetics (India) Limited was incorporated on 28th April 1986 as a Public Limited Company and received a Certificate of Commencement of Business on November 24 1986. The Company is a member of Indo Rama group of companies ("the Indo Rama Group") which has its origin in Indonesia. The Indo Ramagroup is a multiproduct multilocational group having interests in synthetic fibre synthetic and blended yarn furfural and furfural alcohol worsted yarn and crumb rubber having a presence in Indonesia. Thailand Sri Lanka and Nepal besides India.PRESENT BUSINESS OF THE COMPANYThe Company is one of the leading manufacturers of synthetic and blended yarn. The Company''s main facilities are located at Pithampur near Indore (Madhya Pradesh) and Butibori near Nagpur (Maharashtra). The Company set up its first spinning mill with a capacity of 21120 spindles for the manufacture of synthetic yarn at Pithampur Madhya Pradesh in 1989. The capacity has been gradually increased over the years and now stands at 63696 spindles. Out of this 25104 spindles are utilised mainly for manufacture of cotton and polyester cotton yarn for export purposes. The Company now manufactures cotton synthetic and blended yarn at Pithampur.The Company has recently implemented a backward integration cum expansion scheme at Nagpur by setting up an integrated plant with the following facilities:* Polycondensation plant for manufacture of PSF PFY and polyester chips with a capacity of 69300 tpa (hereinafter referred to as CP1)* 59184 spindles for the manufacture of synthetics and blended yarns out of which approximately 54576 spindles are in operation.* 16 DTY machines for further processing of POY into draw texturising yarn.The financial assistance for Company''s facilities at Indore and Nagpur have been extended by IFCI ICICI IDBI Exim Bank IFC Washington DEG Germany IKB Germany SBI and other Indian commercial banks.The Company has won Synthetic and Rayon Textiles Promotion Council Export Awards in the very first year of operation i.e. 1989-90 and repeated this feat for the subsequent four years also. The Company''s unit at Pithampur Indore has received ISO 9002 certification. The Company has been recognised as a Trading House by the Government of India.