Blue Blends India Ltd Company Summary

Blue Blends India Ltd Summary

Blue Blends (India), the flagship company of Arya Group was set up in 1982. It is engaged in texturising, twisting, crimping, coning, sizing and dyeing of yarn, weaving of fabrics, and merchant exports, with plants at Murbad, Silvassa, Palghar, Daman, Panoli, etc. At present, the company has 9 weaving looms, 12 texturising machines and a dyeing capacity of 1440 tpa. The company issued and allotted 25 lac warrants on a preferential basis to the promoters entitling the warrant holder to apply for one equity share per warrant at a price of Rs 25 each. The company has allotted 15 lac equity shares at a premium of Rs 15 each to those warrant holders who have applied.The company diversified into the manufacture of premium denim fabrics with a capacity of 20,000 mtr per day at Ahmedabad, which went on stream in Aug.95. The company has forward integrated into manufacture of a wide range of jeans, ladies and childrens garments under the Blends brands.It has increased the capacity of Weaving Looms and Texturising Machine by 44 and 4 Nos respectively in 1997-98. Blue Blends Equity Ltd is the subsidiary of the company. During 1999-2000, the company became sick company as its accumulated losses exceeds the entire net worth of the company and it has been referred to BIFR in 2000. The Board has dismissed the reference and the company made a fresh reference to BIFR for the year ended March,2002.