ZENITH FIBRES Share price

Zenith Fibres Limited (ZFL) was incorporated on 12thDecember 1989 as a public limited company. In January1993 it set up its manufacturing unit at Savil near BarodaGujarat to manufacture Polypropylene Staple Fibre (PPSF)with a capacity of 1000 tpa.The 1000 tpa PPSF capacity was set up at a total cost ofRs.6.60 crores. This project was funded by a ForeignCurrency Loan of Rs. 1.92 crores from ICICI Rs. 1.68 croresfrom IDBI and a issue of Equity Shares aggregating Rs.3crores. Out of this Equity Issue a public issue of Rs.1crore was made in March 1993.MAIN OBJECTS OF THE COMPANYThe main object of the Company as set out in its Memorandumof Association are:To manufacture process buy sell import export hireexchange alter or improve or otherwise deal in all kindsof synthetic fibres filaments and fabrics includingpolypropylene polyester nylon and acrylic.PRESENT BUSINESSOver the years focus on Research & Development has seenthe Company innovate applications for PPSF substitutingconventional material like nylon acrylic and polyesterstaple fibre. The company through its research anddevelopment has for the first time introduced applicationsfor PPSF and PPSY. No other company in India manufacturingPPSF or PPSY is selling its products to the hosiery socksfleece fabrics and sanitary fabric sectors.ZFL manufactures PPSF ranging from 1.5 deniers to 15deniers. It caters to market for the niche range of PPSFbelow 3 deniers. The Company has been operating at highlevels of capacity utilisation. An 84% utilisation wasachieved for 1994-95.