Uniroyal Industries Ltd Company Summary

Uniroyal Industries Ltd Summary

Incorporated on 30 December, 1993 as a public limited company, Uniroyal Textile Industries Ltd set up a plant for the manufacture of labels and narrow fabrics at Panchkula, Haryana. It has an installed capacity of 1,15,425 sq mtr pa of tafeta and 38,475 sq mtr pa of satin labels. The company came out with a public issue in Dec.94 to part-finance its project.The company was promoted by Arvind Mahajan and Pritam Chand Mahajan and the project was undertaken with the assistance of Haryana State Industrial Development Corporation. The Company is carrying on the business of manufacture and trading of garment accessories such as labels narrow fabric woven labels, prinited labels, hang tags, plastic seals etc. Commercial production commenced in Jan.95. The products manufactured by the company are used by garment exporters, fashion garment industry and ready-made garment manufacturers.During 2005, the Company commenced two new business activities, Pharmaceutical business and business of real estate at Baddi, Himachal Pradesh to set up the Pharmaceutical Plant. The real estate business was started in a partnership firm, M/s Uniroyal Builders and Developers for construction and development of residential and commercial complexes.The Company expanded by installing 4 high speed narrow fabric looms, 3 cut and fold machines and some other machines with total outlay of Rs. 5.22 Crores in 2006. Capacity of woven labels facility was enhanced by installing additional machinery with a total outlay of Rs. 5.40 Cr. in 2007.During 2006-07, the Scheme of Amalgamation of Sidharatha Textile Mills Ltd. and Uniroyal Pharmaceutical Ltd. with the Company was effective from July 27, 2006. As per the said Scheme, 22,33,220 equity shares of Rs. 10 each were allotted to erstwhile shareholders of amalgamated companies, which got listed on the Mumbai Stock Exchanges on 14th February, 2007. Resulting, the Company changed its name from Uniroyal Textiles Industries Limited to Uniroyal Industries Limited, w.e.f. 28 February, 2007.