Sunil Industries Ltd

Sunil Industries Ltd was originally incorporated as a Private Limited Company with the name, Raj Ratan Textile Processors Pvt Ltd on 19 November, 1976, which was set up in 1969 as a Partnership Firm. The Management of the Company was taken over by Vinod Lath from the Directors, J S Jadhav, M N Rane and S K Ovhal. The name of the Company changed to Sunil Dyeing Pvt Ltd on April 22, 1982. Then, later on, the Company got converted into a Public Limited Company on 16 May 91 and was renamed Sunil Dyeing Limited and consequently, the name of the Company was changed to Sunil Industries Limited.Sunil Industries are leading manufacturer and supplier of textile fabric products in the Central State Government department/ institutions. Starting off in 1976, as a small processing unit, today, the has its own Spinning, Weaving, Knitting, Processing, Stitching capacity and supplying finished textile products.Initially, the Company was engaged in the manual processing of cotton textiles. Later, it started processing synthetic fabric and blended fabric. In 1984, the company started power processing. It is engaged in jobwork for clients and also in selling of cloth which it processes on its own account. The manufacturing unit of SIL is located in Dombivli, Maharashtra.In Dec.94, it came out with a public issue of 22 lac equity shares at a premium of Rs 20 per share, aggregating Rs 6.6 cr. The proceeds of the issue were utilised to partfinance the Rs 12cr expansion project to increase the installed capacity from 600 lac mtr to 1050 lac mtr pa. Other group companies of SIL include Sunil Fabrics, Sunil Prints, Sunil Synthetics, Sunil Bleaching, Eske Tex (India) and Shreeji Textiles. The companys RD wing has carried out research in wet discharge and camouflague printing processes which has resulted in improving the quality of printing and also in reducing cost. During 199596, there was major fire on 13/03/96 in the main unit of the company at M I D C. Dombivili. Therefore the company has made sizeable investment in capital assests with a view to modernize the production process. Additions assests amounted to Rs. 299 lakhs.During 199697, companys manufacturing unit was destroyed by fire on 13th March, 1996. The company has claimed 395.88 lacs towards reinstatement of value of fixed assest and Rs. 1006.47 lacs towards loss of stock of the company and customers. The insurance company has sanctioned claim of Rs. 160.69 lacs towards fixed assest and 878.87 towards loss of stock. The difference was borne by the company. Company is in the process of reconstructing the unit. Company has also invested in capital assest of amount worth Rs. 77.78 lacs.During the year 199899, the Company, to enhance the credibility in the national and international market, has initiated steps for obtaining ISO 9002 Certification. The Companys products are also being considered by Bureau of Indian Standards for granting of ISI mark.The performance of the company was affected adversely due to the sluggishness and deceleration of economic growth and resulting to this, there stood a sharp fall in turnover, during the year 19992000.