Eurotex Industries and Exports Ltd Company Summary

Eurotex Industries and Exports Ltd Summary

Belonging to the Patodia Group and promoted by PBM Polytex, Eurotex Industries & Exports Ltd was incorporated in Feb. 87. The Company is primarily engaged in the business of manufacturing of cotton yarn, knitted fabrics and real estate development. It manufactures cotton yarn of various counts from 30s to 100s. Being a 100% EOU, has agency and selling arrangements with various reputed buyers in the UK, Switzerland, Germany, Italy and Japan. The Company commenced manufacture of Cotton Yarn in 1989. It diversified into the processing of yarn and manufacture of woven and knitted superfine cotton fabric of international standards, for which it came out with a rights issue at a premium in Oct.92. It started production of phase-I of its expansion project of 14,112 spindles at the second (new) 100% EOU. The entire spinning plant got imported from Switzerland. To meet the working capital requirements, the Company had issued 13% Debentures of Rs.5 Cr. to UTI Banks in 2001 and same were redeemed during the year itself.