|The Company was incorporated on 11th December, 1987 as a private limited company with the main object to set up an unit at Daman for twisting and doubling of synthetic yarn. Its commercial production started in September, 1988. The Company was converted into public limited company on 20th March, 1992 by passing a special resolution in Extra Ordinary General Meeting held on 4th March, 1992. The Company's Multicoloured Yarn project at Vapi (Gujarat) commenced production in March, 1993. In 3rd phased company proposed to set up Fancy yarn project at Daman, Union Territory, which shall be part finance by Public Issue. The Company is making profits for the last 5 financial years. The profitability for the financial year 1992-93 was adversely
effected due to disturbances in several part of the country, particularly in major textile centres, Bombay and Surat.
The details of installed capacity, plant & machinery, cost of project and means of finance of existing units at Daman and Vapi are as under:
items Daman Unit Vapi Unit
(kgs. in lacs)
Fancy, yarn 3.60 2.60
Major Plant & Machinery
Daman Unit Vapi Unit
Rapid Dryer 50 kgs. 1
Thermic fluid heater 1
High speed dye package
Fancy yarn dyeing machine 1
Yarn dyeing machine 1
Tarn setting machine 1
Cone winding machine 18
Twisting machine 7
Cradle winding machine 2
Fancy double twister 2
PRESENT BUSINESS OF THE COMPANY.
The company is presently engaged in the business of Synthetic
Fancy Yarn processing at its unit at Daman (Union Territory) and
-Damodar Threads Ltd delists Equity Shares from Calcutta Stock Exchange Association Ltd (CSE) under SEBI (Delisting of Securities) Guidelines-2003.
-The company has issued rights in the ratio of 8:5 at a premium of Rs 25/- Per Share.