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Kush Industries Ltd. Company History and Annual Growth Details

The Suzlon Group commenced its operations in the year 1987 when Sulzer Synthetics Pvt. Limited set up a sizing unit in Ankleshwar. This Company also set up facilities for draw twisting. Later, this Company became a closely held Public Limited Company by the name of Suzlon Synthetics Limited (SSL). SSL had facilities for 400 MT. per annum of Draw Twisting and 800 MT. per annum of sizing of Filament Yarn. For the year ended March 31, 1993, SSL's turnover and operating profit were Rs.2924 Lacs and Rs.115 Lacs, respectively. In the year 1992-93 the promoters- Shri T. Tanti, Shri V. Tanti, Shri M. Patel and Shri K. Patel of the Sulzon Group, incorporated another Company. Sulzon Fibres Limited (SFL) as a closely held Public Limited Company with a paid-up
Capital of Rs.158 Lacs. In 1993, SFL made a Public Issue of 23,70,000 Equity Shares of Rs.10/- each for cash at par aggregating Rs.237 Lacs to part finance its draw Twisting and Weaving projects involving an outlay of Rs.570 Lacs. The balance was funded by a Term Loan from GIIC of Rs.150 Lacs, Subsidy of Rs.25 Lacs and Promoters' Contribution of Rs.158

The Draw Twisting Project was commissioned in March 1993 and the Weaving Project was commissioned in September 1993. In 1994-95, SFL'a Weaving operations focused entirely on weaving of Furnishing Fabrics.

In 1994, a decision was taken to merge SSL into SFL since the line of business of both the companies was similar. SSL was merged with SFL for a consideration of Rs.270 Lacs paid by the issue of 27 Lacs Equity Shares (in the ratio of 1:1) at par to the Shareholders of SSL with effect from April 1, 1994.

Present Activities

The Company has three manufacturing units, two located in GIDC, Ankleshwar and one in GIDC, Karanj. The Draw Twisting Sizing and Texturing Divisions of the Company have installed capacity totalling 3,030 MT. per annum. The Weaving Division has installed capacity of 2.40 Lacs Meters per annum. The Company has technologically advanced imported machineries and equipments at above plants. These machineries are operated by technically qualified and experienced work force.

The Company is presently manufacturing Polyester Filament Yarn, Polyester Micro Filament Yarn, Texturised Yarn, Polyester Filament Sized Yarn and export quality Synthetic Fabric for furnishing and drapery. The quality and ranges of products of yarn manufactured by the Company have very wide use in making dress materials and sarees by weaver. Whereas Synthetic Fabric for manufacturing and drapery produced with imported designs has got very good response in the local as well as overseas market.

The quality products of the Company has got wide acceptance among the weavers and has some premium over the other manufacturers too. The innovative and periodical market oriented changes in the produce sizes and mixes have put the Company in a commendable position over its competitors. As a result of all these, the Company has entered a very fair amount of goodwill putting itself among the most reputed Textile
Manufacturers of Surat.

The Company uses judicious mix of imported as well as indigenous raw materials depending upon the prices, timely availability and requirement of end-uses, etc. With the Scientific Inventory and Production Planning and Management, proper use of blends of imported and Indigenous materials, the Company has been able to restrict its Raw Material Cost Manufacturing and Administrative Expenses are also wall within the control. Efficient working capital management has kept the Financial Cost in Control. The approach of the management is to master in all areas progressively for the balanced growth with a tremendous support
from its entire Work Force.