|Our Company was incorporated on January 22, 2003 under the Companies
Act, 1956 as Firstwinner Trading Private Limited. Our Company was originally
promoted by Mr. Vijay Dargar and Mr. Sanjay Gupta on January 22, 2003.
Their shareholding was purchased by Mr. Rinku Patodia, Mr. Sachin K. Jadhav,
Ms. Hetal S. Jadhav and their friends on January 24, 2003. Mr. Vijay Dargar
and Mr. Sanjay Gupta resigned from the Directorship on January 24, 2003
and in their place Mr. Sachin K. Jadhav and Ms. Hetal S. Jadhav had been
appointed as Directors. Mr. Rinku Patodia appointed as Director on August
4, 2003 and then Mr. Sachin K. Jadhav resigned on September 5, 2003.
The name of our Company has been changed to First Winner Industries Private
Limited, and further to First Winner Industries Limited. We started our operations
with the objective to supply the textile fabrics to wholesalers and apparel &
garment manufacturers. Initially, we started trading in the textile fabrics and now
with a view to have our own manufacturing facilities, we have set up our own
weaving unit during 2006-07 by installing 100 looms. The manufacturing facilities
are located at MIDC, Tarapur, District Thane, Maharashtra. The unit has total
installed capacity to manufacture 108 lakh meter grey fabrics per annum and
commenced commercial production w.e.f. March 19, 2007. We are executing
job works for fabric and garment manufacturers. The income from job work
constituted 0.07% and 6.01% of total income during 2006-07 and for the first
quarter ended June 30, 2007.
We have two subsidiaries viz. Ramshyam Textile Industries Limited and Realgold
Exports Private Limited which are engaged in the same business. Ramshyam
Textile Industries Limited commenced its operations of weaving from February
1, 2006 and became our subsidiary on April 1, 2007. Ramshyam Textile Industries
Limited is having 48 looms with total installed capacity of 42.24 lakh meter fabrics
per annum. Realgold Exports Private Limited, which was incorporated on December
12, 2002 also became our subsidiary on April 1, 2007 and is having weaving unit
with 48 looms and total installed capacity of 62 lakh meters per annum.This unit
expected to commence its commercial production by November, 2007. Both the
subsidiaries are having manufacturing facilities at MIDC Tarapur, District Thane,
Maharashtra. For details, please refer to paragraph Our Subsidiaries appearing
on page number 76 of this Draft Red Herring Prospectus.
Major events in the History of Our Company:
A chronology of key events in our corporate history is set out below:
Year Key Events
2003 Incorporation of Company
2003 Started trading of Textile fabrics
2006 Change of Name to First Winner Industries Private Limited
2006 Conversion of private limited company into public limited company
2007 Establishment of Factory at MIDC, Tarapur for manufacturing of fabrics with
a capacity of
108 lakh meters per annum and commencement of production in March, 2007.
2007 Ramshyam Textile Industries Limited became Subsidiary of our Company
2007 Realgold Exports Private Limited became Subsidiary of our Company
-E-mail ID for Investors Complaints:firstname.lastname@example.org.
-The Board recommends a dividend of 5%.
-Board of Directors of the Company has unanimously approved the appointment of Mr. Binod Kumar Tiwari as an Independent Non-Executive Director of the Company.