Kamadgiri Fashion Ltd Company Summary

Kamadgiri Fashion Ltd Summary

Kamadgiri Fashion Ltd (Formerly known Kamadgiri Synthetics Ltd), promoted by P K Goenka and Others, was incorporated as a private limited company in Feb.87. Its unit at Umbergaon, Gujarat, has an installed capacity to manufacture 21 lac mtr pa of synthetic fabrics. KSL commenced production, sales and exports in 1987. The company went public in Nov.93 to part-finance the increase in its existing weaving capacity from 21 lac mtr pa to 29 lac mtr pa by installing state-of-the-art shuttleless weaving machines and to set up a spinning unit with a capacity of 360 tonnes per annum. KFL is mainly engaged in the business of manufacturing and job work in Textile Industry. The companys product is exported to Egypt, Indonesia, Kuwait, Saudi Arabia, Bahrain, Colombia, Lebanon, U.A.E, Bangladesh, Jordan, Singapore. The company has been granted Export House Status by Government of India, Ministry of Commerce for a period of 3 years from 01.04.96 to 31.03.99.Company took new innovative product mix, design, blended fabric and better product line, maximum utilisation of capacities, cost reduction, economies of scales which will bring in positive change in turnover and profitability of company.Strips Apparels Limited, a subsidiary company was merged with the Company as a part of its expansion plan during the year 2006-2007 and the said Scheme of Amalgamation became effective on 29th June, 2009. As result of amalgamation and exchange ratio approved in the Scheme, the Company issued 17,39,866 equity shares of Rs. 10/-- aggregating to Rs. 17,398.66 in the ratio of 1 fully paid up equity share of Rs. 10/- each of the Company to be issued and allotted to shareholders of Strips Apparels Limited for every 3.44 equity shares of Rs. 107- each held in by Strips Apparels Limited.