Incorporated on 20 Oct.'92, Duck Tarpaulins was promoted by Velji Mulchand Thakkar, Dwarkadas Velji Thakkar, Rameshchandra Velji Thakkar, Harishchandra Velji Thakkar, Sreenivas Neelkanth Talwalkar, Dhanshree Sreenivas Talwalkar and Akshay Dwarkadas Thakkar.
The company is engaged in the manufacture and marketing of PE tarpaulins and other allied products like woven fabric, laminated fabric with an installed capacity of 3250 tpa. PE tarpaulins are used to cover open trucks and railway wagons, commercial vehicles, ships and boats, swimming pools, sugar, cement, fertiliser, etc. The product is also used in government departments -- food, defence, electricity, irrigation, agriculture, etc -- and also used to construct temporary habitation.
The company came out with a public issue in Nov.'94 to part-finance the company's project to manufacture 3250 tpa of PE tarpaulin.
The company markets its products under the brand name Duck Tarpaulins. It has exported the product to the US, the Netherlands, Germany, Australia and west Asia. The fabrication stage of the production process is labour intensive giving the Indian manufacturers an edge over producers from other countries.
In 1997-98, the company has made sales of Rs 615.60 lakhs (Previous Year Rs. 970.27 lakhs) and incurred loss of Rs 283.81 lakhs as against loss of Rs 137.47 lakhs in the previous year. Since the accumulated losses of the company as at 31st March 1998 amounted to Rs 406.86 lakhs, under the terms of section 23 of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), the company has become 'Potentially Sick' and more than fifty per cent of the net worth of the company has been eroded.