Pranavaditya Spinning Mills Ltd Merged Company Summary

Pranavaditya Spinning Mills Ltd Merged Summary

Incorporated as a public limited company in 1990, Pranavaditya Spinning Mills is promoted by the Keshavlal Talakchand (KT) group. The KT group is an integrated group which has been manufacturing and exporting cotton yarn, textiles, knitwear and garments for the last five decades. The group started operations as a trading concern in 1942, and till today has promoted a number of companies engaged in the manufacture and export of textiles and textile-related products.The companys plant with 12,768 spindles in Kolhapur district, Maharashtra, manufactures cotton yarn. Subsequently, the capacity was increased to 16,608 spindles. For further modernisation and expansion, the company entered the capital market in 1995.The KT group, to which the company belongs, exports to nearly 30 countries all over the world including Australia, Canada, the UK, Germany, Italy, Belgium, the Netherlands, Czechoslovakia, Turkey, Hong Kong, Taiwan, Mauritius, Korea, Singapore, etc. During 1998-99, the Company applied to Maharashtra State Electricity Board (MSEB) to put up a Captive Power Plant of 1.9 MW capacity at cost of Rs. 550 lacs.