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Subh Tex (India) Ltd. Company History and Annual Growth Details

History of the Company

The Company was incorporated as ÂRavi Synthetic Private LimitedÂ a private limited company under the Companies Act, 1956 pursuant to Certificate of Incorporation dated November 16, 1987 bearing registration number 45305 of 1987 issued by the Registrar of Companies, Maharashtra. The name of the Company was changed to ÂSubh Tex (India) Private LimitedÂ pursuant to fresh certificate of incorporation consequent upon change of name dated December 13, 1990, issued by the Additional Registrar of Companies, Maharashtra. Thereafter, the Company was converted into a public limited company under the Companies Act and the name of the Company was changed to its present name ÂSubh Tex (India) LimitedÂ pursuant to fresh certificate of incorporation consequent upon change of name on conversion to public limited company dated July 03, 2003 issued by the Deputy Registrar of Companies, Maharsahtra. Corporate identification number is U99999MH1987PLC045305.

Promoters of the company are Santosh Kumar Pralhadrai Saraf and Shraddha Animesh Gupta.The Company is an ISO 9001:2008 certified organization which specialises in manufacturing and trading of grey fabric.The Company was originally promoted by Mr. Devanand Aswani, Mr. Shyam Chawla, Mr. Gulab R. Majithia and Mrs. Hansa P. Majithia.The Company was then taken over by Vinay Poddar and Ashok Gupta and their family members in February 1991. The current promoters i.e. Santosh Kumar Pralhadrai Saraf and Shraddha Animesh Gupta took over our Company on July 31, 2012 along with complete management control and the residual holding of Vinay Poddar and Ashok Gupta and their family members is now classified as public holding.

Initially, the Company was engaged in the trading activity. In the year 1992-93, the Company started a yarn dyeing unit at Vapi. In the year 1997 our Company started its manufacturing Unit I engaged in Grey Fabric weaving. In the year 1998 the Company closed down its yarn dyeing unit and in the year 2002 our Company started the Unit II for grey fabric weaving. In July 2012 the Company shifted its entire machinery of Unit I to Unit II. Currently we have a single unit for the manufacturing of grey fabric with an installed capacity of 3.5 Lacs mtrs/month.

Key Events and Milestones:

Year

1987
- Incorporation

1991
- Change of management by Vinay Poddar and Ashok Gupta

1993
- the Company started a yarn dyeing unit at Vapi

1997
- Company started Unit I for Grey Fabric Weaving

2002
- Company started Unit I for Grey Fabric Weaving

2012
- ISO 9001:2008 certification as a Manufacturer and Exporter of Fabrics and Garments from British Certifications Inc
- Change in management - Takeover by Santosh Kumar Pralhadrai Saraf and Shraddha Animesh Gupta

2013
-The equity shares of Subh Tex (India) Ltd (Scrip Code: 536671) are listed and admitted to dealings on the Exchange in the list of MT Group Securities.

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