Emtex Industries India Ltd Company Summary

Emtex Industries India Ltd Summary

Formerly known as Maliram Makharia Industries, Emtex Industries (EIL) was incorporated in Jan.82 and converted into a public limited company in Mar.89. The name was changed to Emtex Industries (India) on 13 Aug.92. It commenced commercial operations in Jan.83 to process grey cotton fabrics at MIDC, Badlapur. In 1989, EIL set up facilities to process 75 lac metres pa of grey synthetic fabrics.The company has been promoted by Shivprakash Makharia, Chairman and Managing Director, alongwith Pradeep Makharia and Pramod Makharia. EIL came out with a public issue of 24 lac equity shares at a premium of Rs 5 aggregating Rs 3.60 cr, to part finance the Rs 6.34-cr expansion. The textile processing division is diversifying into the manufacture of salicylic acid and its derivatives like sodium salicylate, benzyl salicylate and methyl salicylate. EIL chalked out expansion and diversification programmes at a capital outlay of Rs 138 cr to set up a Rs 58-cr ready-made garment knitting-cum-processing unit with a capacity of 30,000 pcs pd. It also put up a Rs 60-cr aspirin plant at Panoli, Gujarat. The company increased the installed capacity of its Chemicals division to 713 MT. The production of Salicylic Acid and Methyl Salicylate and its derivatives has received overwhelming response from customers.The company ventured into information technology. Unique products, business solutions and database are proposed to be developed for identified customers abroad and in india in due course.In 2001 a modernisation programme for setting up facilities to process 120 wide fabrics was shelved out.The programme is expected to implemented in current financial year.