Indo Count Industries Ltd Share Price

Summary

Indo Count Industries Limited was originally incorporated as Vishnu Aluminium Limited in November, 1988. The Company changed the name from Vishnu Aluminium Limited to Indo Count Industries Limited in April, 1990. The company was promoted by A K Jain, S Jain and associates. The Company went public in Nov.90 to part-finance a 100% EOU (inst. cap. : 26,208 spindles) to manufacture combed yarn at Gokal Shirgaon in Kolhapur, Maharashtra. The Company mainly deals in top of the bed items in textiles business. It operates a wide network of operations in local as well as in overseas market.In 1994-95, the installed capacity was increased to 32,256 spindles with the commissioning of 6048 spindles. ICIL has been accredited with the ISO 9002 certification. ICIL further added 18,144 spindles and diversified into grey knitted fabric by installing 8 knitting machines. The scheme, being executed as unit number two, is run by a captive diesel power plant. The project was appraised by IFCI at a cost of Rs.53.6 cr. Part of this cost was met out of the foreign currency loan of US$ 11 mln sanctioned by IFCI.During 1999-2000, the company has been granted financial assistance under Technical Upgradation Fund Scheme for modernizing the spinning mill and for expansion in knitting capacity. To improve its quality,production and productivity the company has initiated modernisation programme for its plant & machinery under TUF scheme. The installed capacity of Spindleage-Cotton Yarn was increased upto 5
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