Gokak Textiles Ltd Company Summary

Gokak Textiles Ltd Summary

Gokak Textiles Limited was formerly incorporated under the name of ANS Textiles (Bangalore) Limited on March 27, 2006. The name was changed to Gokak Textiles Limited, with effect from January 23, 2007. As per the Scheme of Arrangement, the Textile Division of erstwhile Forbes Gokak Limited (now known as Forbes & Company Limited) was transferred to Gokak Textiles Limited with effect from April 1, 2007.Presently, the Company is in the business of textile, manufacturing cotton yarn, blended yarn, industrial fabrics, terry towels, t-shirts, polos, undergarments, etc. The Companys fellow subsidiaries include Forbes & Company Limited, Forbes Doris & Naess Maritime Limited, Forbes Technosys Limited, Volkart Fleming Shipping & Services Limited, Eureka Forbes Ltd. and Forval International Services Ltd. Apart from this, the Company has 3 power plants with a total capacity of 10.8 MW: the old 3.5-MW power house,2.8-MW DJ Madan power house and a new 4.5-MW unit. On January 17, 2012, the Company formed a wholly owned subsidiary Gokak Power & Energy Ltd. In 2011-12, the whole of Hydro Power Business of the Company was transferred to its subsidiary Gokak Power & Energy Limited for a consideration of Rs.120 Crores effective from 20th September, 2012.