GTN Industries Ltd - GTN INDUSTRIES Share Price

Summary

GTN Industries Ltd (Formerly known GTN Textiles Ltd) was incorporated in 1962, GTN Textiles was taken over by the present promoters in 1966. The flagship of the GTN Patodia group, GTN Textiles (GTNTL) has several unique distinctions. It was the first company to export cotton yarn from India to Japan and Italy. The Company has its production facilities in the State of Telangana and Maharashtra and is presently engaged in the business of Spinning and Doubling of Yarn.In 1992, it exported virtually its entire production, although it is not an EOU. The installed capacity of its plant at Alwaye, Kerala, has been increased from 12000 to 38600 spindles, bringing the companys total spindleage to 60340. In Jan.93, GTNTL came out with its maiden public issue to modernise the existing plants, meet long-term working capital requirements and invest in the groups newly promoted company, Patspin India Ltd.GTNTL is a government-recognised Export House and a Star Exporter. Perfect Spinners, a group company, also into cotton yarn, was merged with the company in Apr.94. It is implementing an expansion-cum-modernisation programme at all its units. GTN Exports and Packworth Udyog are subsidiaries of GTN Textiles. In 2000-2001 the company has raised term loan of Rs.22.83 crores under Technology Upgradation Fund Scheme which provides for 5% interest subsidy,for marginal increase in capacity and substantial modernisation/replacement of old machinery across the units,by availing world-class... Read More