KUSH INDUSTRIES Share price

The Suzlon Group commenced its operations in the year 1987 whenSulzer Synthetics Pvt. Limited set up a sizing unit in Ankleshwar. This Company also set up facilities for draw twisting. Later this Company became a closely held Public Limited Company by the name of Suzlon Synthetics Limited (SSL). SSL had facilities for 400 MT. perannum of Draw Twisting and 800 MT. per annum of sizing ofFilament Yarn. For the year ended March 31 1993 SSL''sturnover and operating profit were Rs.2924 Lacs and Rs.115 Lacsrespectively. In the year 1992-93 the promoters- Shri T. TantiShri V. Tanti Shri M. Patel and Shri K. Patel of the SulzonGroup incorporated another Company. Sulzon Fibres Limited(SFL) as a closely held Public Limited Company with a paid-upCapital of Rs.158 Lacs. In 1993 SFL made a Public Issue of2370000 Equity Shares of Rs.10/- each for cash at paraggregating Rs.237 Lacs to part finance its draw Twisting andWeaving projects involving an outlay of Rs.570 Lacs. Thebalance was funded by a Term Loan from GIIC of Rs.150 LacsSubsidy of Rs.25 Lacs and Promoters'' Contribution of Rs.158Lacs. The Draw Twisting Project was commissioned in March 1993 and theWeaving Project was commissioned in September 1993. In 1994-95SFL''a Weaving operations focused entirely on weaving ofFurnishing Fabrics.In 1994 a decision was taken to merge SSL into SFL since theline of business of both the companies was similar. SSL wasmerged with SFL for a consideration of Rs. 270 Lacs paid by theissue of 27 Lacs Equity Shares (in the ratio of 1:1) at par tothe Shareholders of SSL with effect from April 1 1994.Present ActivitiesThe Company has three manufacturing units two located in GIDCAnkleshwar and one in GIDC Karanj. The Draw Twisting Sizingand Texturing Divisions of the Company have installed capacitytotalling 3030 MT. per annum. The Weaving Division hasinstalled capacity of 2.40 Lacs Meters per annum. The Companyhas technologically advanced imported machineries and equipmentsat above plants. These machineries are operated by technicallyqualified and experienced work force.The Company is presently manufacturing Polyester Filament YarnPolyester Micro Filament Yarn Texturised Yarn PolyesterFilament Sized Yarn and export quality Synthetic Fabric forfurnishing and drapery. The quality and ranges of products ofyarn manufactured by the Company have very wide use in makingdress materials and sarees by weaver. Whereas Synthetic Fabricfor manufacturing and drapery produced with imported designs hasgot very good response in the local as well as overseas market.The quality products of the Company has got wide acceptanceamong the weavers and has some premium over the othermanufacturers too. The innovative and periodical marketoriented changes in the produce sizes and mixes have put theCompany in a commendable position over its competitors. As aresult of all these the Company has entered a very fair amountof goodwill putting itself among the most reputed TextileManufacturers of Surat.The Company uses judicious mix of imported as well as indigenousraw materials depending upon the prices timely availability andrequirement of end-uses etc. With the Scientific Inventory andProduction Planning and Management proper use of blends ofimported and Indigenous materials the Company has been able torestrict its Raw Material Cost Manufacturing and AdministrativeExpenses are also wall within the control. Efficient workingcapital management has kept the Financial Cost in Control. Theapproach of the management is to master in all areasprogressively for the balanced growth with a tremendous supportfrom its entire Work Force.