12.05 0.16(1.35%)
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Promoted as a joint sector company by Mohta Industries (MIL) and the Punjab State Industrial Development Corporation (PSIDC), Vardman Polytex Ltd. (VPL) was incorporated as Punjab Mohta Polytex. The Company's principal activity is manufacturing of yarn & garments. The company came out with a rights issue at a premium of Rs 60 aggregating Rs 24.92 cr and 28.48 lac 13% secured NCDs of Rs 250 aggregating Rs 71.21 cr in Jan.'95. The issue was to set up a 100% EOU with an installed capacity of 25,200 spindles in Punjab, expansion of its plant, and to meet long-term working capital needs. Total project cost was Rs 110.14 cr. VPL manufactures coarse, medium and fine counts of 100% cotton yarn. It also produces 100% acrylic yarn, acrylic cotton yarn, polyester cotton yarn and tyre cord yarn. The company exports its products to the UK, Belgium, Italy, Germany, Korea, Australia, New Zealand, Hong Kong and Taiwan.During 1998-99, the company had taken expansion by way of a new unit of 19,872 spindles at Baddi at a cost of Rs 41 crs which was commissioned on November, 1999. The Bathinda unit was also upgraded with an investment of Rs.34.00 crore making it capable of competing with the best in cotton yarns.An expansion of spindles was taken up latter in the year 2001 at a cost ...