PBM POLYTEX Share price

The Company was incorporated on the 24th November 1919 under the Companies Act of Baroda State of S.Y.1975 under the name and style of ''The Petlad Bulakhidas Mills Company Limited''.The management of the Company was taken over by ''THE HOUSE OF PATODIAS'' in 1978 and the name of the company was changed to ''PBM Polytex Limited''. The Company obtained a fresh Certificate of Incorporation from the Registrar of Companies Gujarat at Ahmedabad on the 20th October 1986 consequent to the change in name.Presently the Company has at Petlad Gujarat one of the most modern spinning units with a complement of 34308 spindles and 840 Rotors. The Company has also diversified into texturising and twisting of filament yarn and set up a 216 spindle capacity texturising and 1320 spindle twisting division at Silvassa in the Union Territory of Dadra and Nagar Haveli. The Company has set up an Export Oriented Spinning project at Boregaon Dist. Chhindwara Madhya Pradesh by installing 18144 spindles at a cost of about Rs. 25 Crores. The project has been fully implemented and is working at full capacity since January 1993. Direct/Indirect and deemed exports from this unit is about 95% of total production.Subsequent to the takeover extensive modernisation of the mill was effected under Shri K.K.Patodia the present Chairman. The Company''s factory building was repaired and new buildings constructed the plant and machinery were gradually replaced with the latest machinery through seven major modernisation pogrammes during the past fifteen years. The Company has co-promoted along with Patodia Syntex Ltd. a 100% Export Oriented Spinning Unit viz M/s Eurotex Industries and Exports Ltd. Patodia Syntex is a Group Company and a Government recognised export house and the recipient of the National Award for Excellence in Export by Government of India for the year 1990-91. Eurotex Industries and Exports has been performing well and has secured from the Government of Maharashtra a Certificate of Excellence in Export for the year 1991-92.BUSINESS OF THE COMPANYThe Company presently manufactures all kinds of processing yarns industrial yarns hosiery yarns polyster blended yarns texturised and twisted yarns and other specialised yarns. The Company''s products find application in hosiery leatherite packing cloth belt and velvet cloth tyre cords jari yarns synthetic fabrics and in handlooms and power-looms.