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N B Footwear Ltd. Company History and Annual Growth Details
The company was incorporated on 24th September 1987 as a Private Limited Company and converted into a public limited company on 14th April, 1988.
The company has been promoted by Mr.A.L.Prasad of Nava Bharat Enterprises Ltd with the backing of the Nava Bharat Enterprises Ltd, Nava Bharat Ferro Alloys Ltd and Beardsell Group of Companies. It manufactures full leather shoes/shoe uppers. The company has set up a project at Cheduvalai, Vellore in North Arcot District of Tamil Nadu on land measuring 3.35 acres for the manufacture of 300000 pairs of full leather shoes/shoe uppers per annum.
The company commenced commercial production on 1st June 1989. In order to execute some of the export orders in 1989-90, the company proposed to procure three additional machines from Italy, and West Germany on Deferred Credit Basis. The company has also increased the licensed capacity from 300000 pairs p.a. to 2000000 pairs p.a. during 1989-90.