Rajasthan Petro Synthetics Ltd Company Summary

Rajasthan Petro Synthetics Ltd Summary

Rajasthan Petro Synthetics Ltd was established in 1983. The Company pioneered the introduction of polypropylene yarn for use in textiles in India. The Company is presently engaged in Office Management Services / C&F Agency Operations.The Company commissioned a plant to manufacture Polypropylene Multi-Filament Yarn (PPMFY) in technical collaboration with Core Engineering, Switzerland, in 1987, with an installed capacity of 1000 tpa. The capacity was later increased to 2750 tpa in 1991 in technical collaboration with Scam Engineering and STP Impianti, Italy. PPMFY manufactured by the Company, is texturised into crimped yarn which can be used in industrial applications such as filter fabrics, soft luggage fabrics, narrow-width fabrics (tapes and straps) and sewing threads. RSPL recently promoted a new Company, Poddar Pigments, to manufacture pigment-based polypropylene master batches, an import substitute. It was expanding the capacity for polypropylene partially oriented yarn (PPPOY)and setting up facilities to manufacture micro-denier polyester filament yarn (MDPFY). In 1995-96, the Company has increased the installed capacity of polyester filament yarn by 4500 tpa. During the year, the company earned foreign exchange worth Rs 98 lac.During 1996-97, production in three lines supplied by NOY vallsina for polyester yarn are still under trial run and in the process of stabilisation. In 1996-97, company earned a foreign exchange of worth Rs. 1.21 cr.The Company was declared Sick by the Board for Industrial & Financial Reconstruction (BIFR) on 21.3.2001. The Rehabilitation Schemes submitted by the Company have not been found acceptance to the Secured Creditors and they took over and sold the Assets of the Company during the year 2008-09. Prior to this, the Company was involved in manufacturing and processing of fabrics/ yarn. However, since year 2008-09, the Company has been involved in the business of C&F Agency and Transportation.