TEXMACO INFRA & HOLDG Share price

The Company was incorporated on 4th August 1939 under The Indian Companies Act VII of 1913. The Company is a highly diversified Engineering complex with five factories situated at Belgharia Agarpara Panihati and Sodepur within 15 Kms of Calcutta all served with strong infrastructural support. It is engaged in manufacture and sale of a wide range of Engineering products used in Textile Sugar and Chemical Industries. It has been also engaged in the manufacture of Railway Wagons Industrial Boilers and other Engineering products. The Company has pioneered the manufacture of Textile Spinning Machinery and Industrial Boilers and with continuous diversification over the years it has emerged as the largest manufacturer and exporter of Wagons in the country.The customers of the Company include Indian Railways other Government Departments and leading organisations both in Public and Private Sectors and the Company has to its credit successful execution of prestigious contracts for projects financed by World Bank and other International Financial Institutions. The order book of the Company as of date is over Rs.250.00 crores.The Company had a shipping division which was closed down with the sale of the ship in the year 1994-95.The Cement unit of the Company was being run by Zuari Agro Chemicals Ltd (ZUARI) under a working arrangement effective from 1st January 1994 which continued upto 6th February 1996. Thereafter pursuant to an MOU signed between the Company and ZUARI the Cement Division was transferred to the latter during the year 1994-95.The Company has two spinning units - located at Delhi and Kathua (Jammu & Kashmir) and four ginning factories - located in Punjab (one) Rajasthan (two) and Haryana (one). These factories have been given on working arrangement against which monthly rents are being received by the Company.The Company had been declared as a Sick Industrial Company and was referred to the Board for Industrial & Financial Reconstruction (BIFR) in the year 1990. The Company came out of BIFR as per the order of the Hon''ble Calcutta High Court dated 8th August 1996 with effect from 1st April 1995.PRESENT BUSINESS OF THE COMPANY: The Company has five engineering units located at Belgharia (manufacturing Textile Machinery Steel Casings & Ingots) Agarpara (manufacturing Railway Wagons Boilers Sugar Mill Machinery Pressure Vessels Diesel Road Rollers) Sodepur (manufacturing Railway Wagons Pressure Vessels Heat Exchangers & Chemical Machineries) and Panihati (manufacturing Points & Crossings Diesel Powered Fork Lift Trucks) all in the District of 24 Parganas (North) West Bengal.The textile division consists of Birla Textiles situated at Delhi and Chenab Textiles at Kathua Jammu & Kashmir. The ginning factories of the Company are located at Malout in Punjab Kesrisinghpur & Sangaria in Rajasthan and Fatehabad in Haryana. These factories have been given on working arrangement against which monthly rent is being received.Birla Textiles a division of the Company located at Delhi has to be dosed down by 30th November 1996 as per the order of the Supreme Court dated 8th July 1996 along with 167 other units for Environmental reasons. The Supreme Court Order however provides for assistance for the relocation of the Mills and also utilisation by the Company of the land made available as a result of the closure/relocation of the Mills. The Company expects reasonable income from the development of the land.