|Shekhawati Poly-Yarn Limited was originally incorporated on November 5, 1990 as a Private Limited Company under the Companies Act, 1956 in the State of Maharashtra and a Certificate of Incorporation was obtained from the Addl. Registrar of Companies, Maharashtra, Mumbai having a Certificate No. 11-58818/1990. Later, it was converted into a Public Limited Company by passing a Special Resolution at the Extra Ordinary General Meeting of the
Company held on 27th Feb, 2010 and Fresh Certificate of Incorporation for the same was obtained from the Registrar of Companies, Maharashtra, Mumbai on 19th April, 2010.
Our Company presently is engaged in manufacturing of Knitted and Woven Fabrics with its registered Office at 2, Anantwadi, Vaidya Bhawan, 1st Floor, Bhuleshwar, Mumbai- 400 002 and manufacturing facilities at:
Plot No 20, Sheetal Industrial Estate, Demini Road, Dadra, Dadra and Nagar Haveli, 396 191
Plot No 44, Government Industrial Estate, Masat, Samarwani, Dadra and Nagar Haveli, 396 230
Plot No 185/1,Naroli Village, Kanadi Phatak, Silvassa, Dadra and Nagar Haveli, 396 235
MAJOR EVENTS OF OUR COMPANY
Shekhawati Poly-Yarn Limited (=Shekhawati) was incorporated in 1990 with an object to deal in textiles. It started manufacturing Texturised Yarn with 2 machines setup in 1995-97 (Unit 1). Our Company soon identified opportunities in selling Twisted Yarn and integrated its facilities to manufacture Twisted Yarn by installing Twisting Machines (TFO). It then replaced two Texturising Machines by installing newer technology high speed Texturising Machines along with 5 TFO machines in 2005. With aggressive expansion plans, our Company expanded into Unit 2 by adding 8 additional Texturising Machines. Our Company in March 2009 had 10 Texturising Machines and 5 Twisting (TFO) Machines in operations.
Shekhawati identified 12 acre land at Silvassa to install 10 additional Texturising Machines in factory building admeasuring 55000 Sq.ft. The civil construction of the factory has been completed and production with 8 new machines has been started.
This is Phase 1 of the proposed expansion program in our Company for which the financial closure has been done by bringing in Part equity and part debt. The expansion project for the Unit 3 has been financed partly by Term Loans from State Bank of India and Shamrao Vithal Co-operative Bank and by owners contribution.
The expansion History is summarized as below:
Incorporation Trading of Textiles
Setting-up of Unit 1 at Village Dadra, Silvassa - with one Texturising Machine 600 TPA
Additional One Texturising Machine Installed 1200TPA
Modernisation of Texturising Machines to increase installed capacity 2400TPA
Forward Integration to Twisting by installing 5 TFO machines 600TPA
Setting-up of Unit II at Village Masat, for manufacturing Texturised Yarn by installation of 8 additional Texturising Machines 10800 TPA
Construction of Unit 3 completed at Silvassa measuring 55000 Sq. Ft. Installation of 4 Texturising Machines is completed and 6 Texturising Machines are already Procured but yet to be Installed (not Funded through IPO Proceeds).
2010-11 Installation of Texturising Machines Out of the 6 Texturising Machines already procured as mentioned above, 4 Machines have been installed and 2 Machines are yet to be installed.