Rishi Techtex Ltd

Incorporated in 1984, Rishi Techtex Limited (Formerly known Rishi Packers Limited) was promoted by B G N Patel. The Company is one of Indias leading sciencedriven technical textile companies. It is is engaged in manufacturing and exports of HDPE/PP Woven Sacks and Shade Nets. It has two manufacturing plants, one at Union Territory of Daman and the other at Union Territory of Dadra.To partfinance its expansion programme, the company made a rights issue (1:2) in Jun.94 at a premium of Rs 20. Its product is consumed by manufacturers of cement and cement paints, rubber compounds, milk powder, solid and granulated chemicals, thermosetting resins, petrochemicals, synthetic rubber, etc. In 199596, the company proposed to increase the present capacity of multiwall bags by 16 mln pa which is to commence operations from Jun.97 and is also proposing to set up a project for production of Raschel bags, for which L/C for the import of machinery has been opened. This is an EOU unit. Cost of the above projects is expected to be Rs 11 crores which will be financed by borrowings, internal accruals and by issue of shares.During 199798, the company has successfully implemented the new project for the manufacture of Raschel bags and modernised its Woven sacks operations. It by replacing two Tape Lines and 30 Looms.During 199899, the Company commenced a new woven sacks project at Dadra in the Union Territory of Dadra and Nagar Haveli with a capacity of 750 MT per annum. The Company also issued 600000 Equity shares of Rs. 10 each at a premium of Rs. 5/ per share to promotor group on private placement basis to raise funds to meet the working capital requirements.During the year 200001, the company has registered 9.5% growth in respect of turnover over the previous year. The total turnover is stood at Rs.2978.79 lakhs during 200001, as against Rs.2720.30 lakhs in the previous year.In 200405, the Company increased its capacity of PE Knitted fabrics with the installation of additional knitting machines at its Daman works. The extrusion capacity of the Company was also increased by modernising two extruders. In 200506, it undertook a substantial expansion of its Knitting Division capacity at Daman, which doubled to 1500 MTPA costing Rs 585 lacs. Further, it undertook modernisation plan of its Woven Sacks division at a cost of Rs.120 Lacs. In FY17, it launched fireretardant shade nets launched Wavesail nets in 2018 Treeguard brand of nets launched in 2019. It acquired 4 new plants during the year 2021, comprising of PE liner machine, warping machine, highspeed warp raschel knitting machine and rooftopmounted grid solar plant. It further acquired a new facility (machine) for roll movement during the year 2021. A new solar plant was installed to reduce consumption of electricity within the manufacturing facility.