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Citizen Yarns Ltd. Company History and Annual Growth Details

The company ws incorporated on 3rd May, 1990 under the Companies Act, 1956 in the State of Gujarat as Citzen Yarns Private Limited. It was subsequently converted into Public Company by passing resolution on 23rd July 1992. The company has obtained Certificate of Change of Name from the Registrar of Companies, Gujarat, Dadara & Nagar Haveli on 14th October, 1992.

The Company has been promoted with the object of setting up a textile complex having facilities for manufacturing and marketing of Cotton Yarn in the range of 4s and 20s both single-ply and multiply as well as a variety of specialised derivative products such as industrial threads and fabrics, terry-towelling etc. The company is carrying on the manufacturing of Cotton Yarn by Open-End Spinning process since 1991. The company had installed two open-end Spinning machines have 160 rotors each and started commercial operations in September 1991. Both these rotor spinning machines are of ELITEX (Czechoslovakia) make and are operating since installation. These two machines have an installed capacity of 1650 TPA based on a product mix of 4s and 6s Cotton Yarn. and the company had achieved cpacity utilisation of 66% during 1992-93. As part of the expansion project, the company has installed two more open-end spinning machines of 192 rotors each imported from ELITEX. These two machines have been operationalised in June 1993.

Citizen Cotton Mills (P) Ltd is a subsidiary of the company and Hi-Tech Winding System Pvt. Ltd is an associate concern of the company.

2011
-Registered Office of the Company has been shifted From 7, Harsiddha Chamber, 3rd Floor, Ashram Road, Ahmedabad-380 014.To 2 Corner, Nr. Tirupati Complex, Under Jivraj Bridge, Satellite, Ahmedabad - 380 051

2012

--Registered Office of the Company has been shifted from "2 Corner, Nr. Tirupati Complex, Under Jivraj Bridge, Satellite, Ahmedabad- 380051" to "1, Ankur Complex, B/h. Town Hall, Opp. X-ray House, Ellisbridge, Ahmedabad - 380006"

2015
-Citizen Yarns Ltd has splits its face values of share from Rs. 10 to Rs. 5

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