Jyoti Overseas Ltd Company Summary

Jyoti Overseas Ltd Summary

Jyoti Overseas (JOL) was incorporated in 1974 and promoted by B L Somani. It is managed by chairman B L Somani and managing director Pramod Somani. The company has a wholly owned subsidiary in the name of Jyoti Overseas (US). JOL is a leading manufacturer of high-quality industrial fabrics, with a major portion of the companys earnings coming from exports. The company was awarded the Star Exporter status in 1990 and was subsequently recognised as an Export House by the Government of India in 1994. It exports to over 15 countries including the US, Canada, the UK, Australia, etc. The subsidiary company is engaged in the distribution of industrial fabrics, with local offices in California and South Carolina. The company won the Export Excellence Award from the MP Importers and Exporters Association in 1993 and 1994.Presently, the company has an installed capacity of 80 looms. The company now plans for further expansion by installing additional 54 Picanol looms to meet the increasing demand for its products, particularly in the export market. The commercial production of the expanded capacity will commence from Oct 96.In 1995-96, the company earned foreign exchange worth Rs 33.51 cr.In 1996-97 the company expanded its installed capacity by adding 154 picanolmake shuttle looms imported from Holland, under EPCG License.The Company is implementing the final phase of its expansion programme envisaging import of 20 Airjet Looms from picanol N V Belgium. The Looms have been installed and the trial run is expected to be started in September2000.