NAHAR SPINNING MILLS Share price

The Company was incorporated as a Private Limited Companyon December 16 1960. The Company was converted into PublicLimited Company on March 31 1963. The Company commencedbusiness-operation with setting up of a worsted spinningunit and a hosiery unit at Ludhiana. The Company madesignificant growth in the manufacture and export of woollenknitwear cotton hosiery garments and woollen textiles. In1964 the Company was accorded the status of a RecognisedExport House for its export performance. It has beenrecognized as "Recognised Trading House" by Government ofIndia-since 1991. The Company for its excellent exportperformance has been awarded various Certificates of Meritand Awards including the most prestigious National ExportTrophy by Government of India.Presently the Company is engaged in the manufacture andexport of cotton hosiery garments woollen knitwears &textiles cotton & synthetic yarn. The Company''s cottonhosiery garments woollen knitwears and textile units aresituated at various locations in Industrial Area Ludhianaand Dhandari Kalan Focal Point Ludhiana. The worsted yarnproduced at Company''s spinning unit at Sherpur Ludhiana isused for its captive consumption. The Company has also itsown Dyeing unit equipped with Modern machinery atLudhiana.The Company has recently set up a new Spinning Unit for themanufacture of cotton/synthetic yarn at Village SimraiMandideep Distt. Raisen in the state of Madhya Pradesh. Ofthe proposed capacity of 50400 spindles it commencedcommercial production on 8784 spindles in the month ofJanuary 1993. By October 1995 the company had installed37920 spindles and the company is confident of installingthe balance spindles by December 1995.To enhance the installed capacity of spinningunit at Village Simrai Mandideep Distt. Raisen by 25000spindles (i.e. from 50400 spindles to 75400 spindles) theCompany made a rights issue in March/April 1994. Thecommercial production of these 25000 spindles has beendelayed because of the delay in the receipt of plant andmachinery. However the Company expects that the commercialproduction shall start in February 1997.