Jasch Industries Ltd Company Summary

Jasch Industries Ltd Summary

Jasch Industries Ltd (JIL) was established in December, 1985. The Company manufactures PU Resins and PVC/PU Coated Fabrics (i.e. Synthetic Leather/ Artificial Leather) & Allied Products & Nucleonic & X-Ray Source based Thickness Gauging Systems in Electronic Gauge Division. Engaged in the manufacture of PU foam and laminated products (inst. cap. : 240 tpa; 5 lac mtr pa), the Company (JIL) set up manufacturing facilities for PU resin, PU synthetic leather and non-woven fabric for captive consumption in manufacturing PU leather. While the installed capacity for PU resins is 3600 tpa, that for synthetic leather and non-woven fabric is 36 lac mtr pa each. Production of PU resin and PU leather commenced in 1994 and that of non-woven fabric from 1995. The company has a technical collaboration with Ducksung Chemical Company, Korea, which has over two decades of experience in the manufacture of PU resin and PU leather. Jasch Plastics, a firm managed by the promoters of JIL, manufactures PVC synthetic leather. The promoters manage two other concerns which produce PVC foam leather and blowing agents for the PVC industry. During 1997-98, the company has developed in-house and test marketed a product known as Beta/Gamma Thickness Gauge. This product was initially designed to measure the tickness of coated fabric being manufactured by the company. However market enquiries made by the company have revealed that this product has considerable market potential. Therefore the company now plans to produce this product on commercial basis.During the year 1999-2000, the Company has negotiated a package of relief and concessions with ICICI Ltd. resulting in reschedulement of repayment period of the term loan and reduction in rate of interest from 18.5% to 14.5 % which will substantially reduce the interest burden of the Company.During the year 2000-01,the sales of the company has registered a growth of 9.20% over the previous year.Operating Profit of the company has also registered a growth of 9.30% over the previous year and this would have been higher,but for the increase in the prices of petro based raw material and fuel oil during the year 2000-01.The interest and finance charges have declined sharply by about 16.00% during the year 2000-01,due to full impact of reduction in interest rate from 18.50% to 14.50% on term loan of the financial institutions,repayment of term loans and better inventory and working capital management.The New PU Coating Line Plant was installed for production in March, 2007. The Company installed a computerized Numerically Controlled Machining Centre in its Electronic Gauge Division for improving productivity and finish of the machine. The Company modernized its PU wet Processing Line & WC Dry Process Line during 2007-09 resulting it into higher productivity, reduced energy consumption & inputs with better quality of products.During the year 2011-12, the Company acquired a Company manufacturing and marketing Nucleonic Gauges in USA, which commenced operation under new management from January, 2012. On 16th February, 2016, a new Company i.e. Jasch Automation Ltd was incorporated as a wholly owned subsidiary to receive the demerged business of Automation Division of the Company. On 30.06.2019, the Jasch North America Co (JNAC), the wholly owned subsidiary of Company sold its entire shareholding in INDEV and JIL disinvested its entire shareholding in JNAC and repatriated proceeds thereof. After this disinvestment, both JNAC and INDEV ceased to be subsidiaries of the Company.The Scheme of Arrangement for demerging/ restructuring the Nucleonic Gauges Undertaking of the Company to its wholly owned subsidiary, Jasch Gauging Technologies Limited (JGTL) was approved during the year 2022-23.With effect from 01 January 2022, Company modified its PU coated fabrics line, resulting in increase of capacity from 24 lakh metres to 30 lakh metres per annum. Similarly, during the year, capacity of PVC coated production lines was also increased from 78 lakh metres to 94 lakh metres per annum.