JINDAL WORLDWIDE Share price

JINDAL WORLDWIDE LTD. was incorporated on 2nd September1986 under the name and style of Jindal (India) TextilesMills Pvt. Ltd. The Company was incorporated with the mainobject of carrying out activities related to the textilegoods. The Company adopted new Articles of Associationvide special resolution passed at the Extra OrdinaryGeneral meeting held on 3rd May 1993 and consequently tocorrectly reflect the business activity profile of theCompany the name was changed to JINDAL (INDIA) TEXTILESMILLS LIMITED as per Certificate dated 1st June 1993. TheCompany has since passed the necessary resolution datedMarch 6 1995 for change of name and consequently the namehas been changed to JINDAL WORLDWIDE LTD. as per FreshCertificate of Incorporation dated April 181995 from theRegistrar of Companies Gujarat.The company started its operations in 1990-91 only. Priorto this period it was one of the partners in a partnershipfirm Jindal (India) Textile Mills for the period 1986 to1988. The other partners were Shri Radheshyam T. Agarwal(Individual) Shri Kailash T. Agarwal (Individual)Yamunadutt Agarwal (HUF). and Sarbati Devi Agarwal(Individual).Presently the Company is engaged in the exports of textilegoods like bed sets bed sheets pillow covers cushioncovers etc made out of all types of fabrics includingcotton flannel seersucker satin linen twill viscosepolyester viscose polyester cotton and cotton viscose.The Company has been exporting these products to variouscountries such as Germany. France Italy NetherlandsNorway Finland Denmark Sweden Israel Saudi Arabia.U.A.E. Greece U.S.A. and other countries.In the year 1987 & 1988 the company received an income ofRs. 9954 and Rs. 66999 respectively by way of share inpartnership profit. In 1988 it also started trading oftextile items in the local market and generated sales tothe extent of Rs. 72307. In the year 1989 the companyreceived interest income of Rs. 1371. The actual operationsincluding exports started only in the year 1990-91. FromRs. 858.57 lacs in 1990-91 the Company has grown by404.16% over the past four years to register a turnover ofRs 41.46 cr for the year 1994-95.The company being in the business of trading. does not haveany requirement of technology. Moreover due to the samereasons the capacity build-up cannot be gauged. TheCompany shall now be enhancing its operations in tradingand shall also be gearing up its finance division. Themanagement of the Company is ably assisted by a competentmanpower base as discussed in details under the paraMANAGEMENT.The Company gets its work done on a job-work basis fromother companies for the goods to be exported. The Companysupplies major raw materials to these companies formanufacture of goods meant for exports. The quality of boththe raw materials and the final product are strictlymonitored by the Company personnel. The Company has adoptedthis policy in order to meet the international qualitystandards.The Company does not have any identifiable competitors inthis field. All trading houses whether manufacturing ortrading only can be deemed to be competition for thecompany. The Company however is concentrating on Bedsheets(sets) and other related items which are being supplied tothe buyer in the form and packaging as required. Thecompany is confident of meeting any competition in thisfield based on the past performance and the contactsestablished with overseas buyers.There is an outstanding case against the Company in a Courtin Germany wherein the total liability shall be of Rs.92.97 lacs (including interest on the claim w.e.f.01/08/91) in the event of an ruling that goes against theCompany. The details of this case have been brought outunder the head PROMOTERS AND THEIR BACKGROUND and alsounder the head OUTSTANDING LITIGATIONS.A subsidiary of the company and two group concerns weretemporarily closed due to pollution control problems. Thedetails regarding the same have been given under the headSUBSIDIARY and GROUP COMPANIES AND THEIR PERFORMANCE.