Patspin India Share Price

Incorporated in 1991, Patspin India Limited was promoted by GTN Textiles under the leadership of B K Patodia and Umang Patodia. The Company is engaged in manufacture and export of Cotton Yarn. The yarn is manufactured from the worlds best sources of long and extra long staple cotton like American Supima, Egyptian Giza, contamination free Australian and American cottons and superior Indian cotton like Shankar6 and DCH32. The Company was the first in India to manufacture compact yarn using the breakthrough technology of compact spinning, and also uses stateofart machineries across its plants. It works 2 plants at Palakkad in Kerala and Ponneri in Tamil Nadu having a capacity of 1,14,000spindles, consisting of 70,752 Compact Spinning and 43,248 Ring Spinning, and also capacity for value added products ie. Twisting, Gassing and Soft winding.The promoters have 5 decades of experience in spinning industry with its first unit in Kerala in 1966. The Company derives its strength from rich experience of promoters in marketing of cotton yarns in international market for over 3 decades. With flexibility to produce varied counts of cotton yarns, carded, combed, single and twisted, multi fold and gassed, the Company has retained its customers. Patspin India set up a 100% EOU to manufacture medium and fine counts, combed or gassed yarn, with financial assistance from Itochu Corporation, Japan, and Kerala State Industrial Development Corporation. The company tapped the capital market in Nov.93 to partfinance the project.Patspin has undertaken a twophase expansion project which includes diversification into twisting, knitting and other valueadded products with the available infrastructure. In 1996, the second phase of expansion of 2016 spindles was fully implemented. It also completed the expansion of capacity in Unit B by 16128 spindles in Dec96. This expansion with 100% combing capacity is being set up at the cost of Rs 50 cr. The company exports to Japan, Italy, Israel, the UK, Mauritius, etc. It has made applications for recognition as an Export House. In 1996, the company received the coveted ISO 9002 (IS14002) certification from Bureau Veritas Quality International (BVQI).During 19992000, the textile ministry has launched Textile Upgradation Fund which provides 5% interest susbsidy on the loans eligible and hence the company has undertaken the project at a cost of Rs.1065 lacs for both modernisation and upgradation of technology.Compact Spinning Technology, a new technology which was introduced during the last year has been well received in International Markets due to this the Company continues to expand its capacity in the current year (2001) also.The Company in 200607 undertook projects for substantial expansioncummodernization under Technology Upgradation Fund Scheme with a total outlay costing Rs.273 crores, including 4 Wind Mills with a total capacity of 5.8 MW at a cost of Rs.34.22 crores. Besides, the Companys new Plant at Ponneri was commissioned in February, 2008. Again, the new unit at Ponneri, Udumalpet was expanded to its full capacity of 62400 spindles by June 2008, and resultantly, all the projects were almost completed during the year 2009. Later on, the Company implemented the remaining project in respect of modernization, upgradation, and marginal expansion plans at Kanjikode Unit and addition of balancing equipment to enhance the output at Ponneri Unit at a project costing Rs.42.41 crores as on 31st March, 2015.