Aviva Industries Ltd Company Summary

Aviva Industries Ltd Summary

Aviva Industries Ltd was formerly incorporated as Ankush Electronics & Electricals in Ocotber, 1984 to carry out manufacturing and trading in electrical goods and services. Later in February 1992, it was acquired by the Gupta group where after it diversified into textiles trading activities and its name was changed to Ankush Synthetics Limited and thereafter to Aviva Industries Ltd in November 2005. The Company has been at the forefront of Glass Mosaic production in India, spanning almost 4 decades of production. Founded in 1984, Aviva was a Denim Manufacturing unit that was then taken over by present Promoters and has been functioning since then in the Glass Mosaic Industry. The Company has its business of trading and Manufacturing of Glass and Glass Mosaic Products and Construction Chemicals from the trading of textiles.The Company is relatively less susceptible to fashion changes than apparel business because fabric is an intermediary product and is usually manufactured according to design and patterns provided by apparel manufacturers. Design and texture of fabric can be quickly updated to meet customers specifications. The end of Multi Fibre Agreement (MFA) quota restrictions on textile products has resulted in price competition among suppliers from low cost economics, the Company could face pricing pressure as various suppliers who were restrained by quotas start competing for same orders in the international markets.