Cheslind Textiles Ltd Company Summary

Cheslind Textiles Ltd Summary

Cheslind Textiles (CTL), incorporated as a public limited company on 26 Jul.89, was promoted by managing director T N Anand Reddy, chairman R Surender Reddy, T N Arvind Reddy and Madanapalle Spinning Mills. The company came out with a Rs 7.03-cr public issue in Feb.93 to part-finance the Rs 46.89-cr project. CTL manufactures combed cotton yarn. Its products are 100% combed cotton yarn of medium and fine counts, ranging from 30s to 70s. It exports goods to Taiwan, Singapore, Hong Kong, Japan, etc. CTL is setting up facilities for a 100% EOU in Tamilnadu, with an installed capacity of 25,200 spindles to manufacture combed cotton yarn. It has a technical collaboration agreement with Luwa, Switzerland. The company plans to add some knitting machines.In 1994-95, CTL increased the installed capacity of cotton yarn by 8064 spindles. For the particular expansion, the company has received a proposal from the collaborators like Germany, France, Italy, Switzerland, South Korea, Hong Kong, Mauritius.During 1998-99, CTL increased its installed capacity of cotton yarn by 1632 spindles there by taking its total capacity to 35904 spindles to further technological upgradation of 43,344 spindles in 1999-2000.Under the Technology Upgradation Fund Scheme the company has increased the spindle capacity upto 48384 spindles. The company has set up a 100% EOU plant at Pondichery at a cost of Rs.7 crores.