Mohit Industries Share price

Mr. Narayan Saboo and Mr. Sitaram Saboo promoted MohitFibres Private Limited on 18th February 1991. The companywas then converted into a Public Limited Company i.e. MohitFibres Limited and obtained a fresh certificate ofincorporation on 17th February 1995 from Registrar ofCompanies Gujarat at Ahmedabad. The Company started itsactivities with trading of yarn. In short span of time ofthree years (i.e. 92-93 to 94-95) the turnover of thecompany has increased from Rs.4.74 Crores to Rs.13.01Crores. The profit after tax has increased from Rs.0.84Lacs to Rs.22.82 Lacs. The gross block of the company as at31st March 1992 was Rs.0.49 Lacs and the same is increasedto Rs.137.66 Lacs as at 31st March 1995. The company isgrowing slowly but steadily and gradually.PRESENT BUSINESSThe Company has set up a plant for manufacturing weavingcloths at village Kudsad Taluka Olpad Dist.Surat at atotal outlay of Rs.94.00 lakhs. The present installedcapacity of the same is 8 lakh meters p.a. The said unitwas part financed by GIIC to the extent of Rs.40.25 lakhs.The present unit is running at a capacity utilisation ofabout 94%.SUBSIDIARIES OF THE COMPANYThe Company does not have any subsidiary.