Axita Cotton Ltd Overview
Fundamentals of Axita Cotton Ltd
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Financials of Axita Cotton Ltd
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About Axita Cotton Ltd
Axita Cotton Limited was incorporated as private limited company with the name 'Axita Cotton Private Limited' at Ahmedabad on July 16, 2013. Consequent up on the conversion of the Company from Private ... Limited Company to Public Limited Company, the name of the Company was changed to 'Axita Cotton Limited' on October 15, 2018. Before incorporating the company, the Promoters, Mr. Nitinbhai Govindbhai Patel and Mr. Amitkumar Govindbhai Patel along with other relatives started business under a Partnership Firm named, Aditya Oil Industries ('firm') in the year 2007. It was formed to start business of production and trading of Seed cotton ('Kapas'), Cotton Seed, Cotton Seed Oil, Cotton cake etc and for which land admeasuring area of 5708 Square Meters was acquired at Chattral, Kadi Road, Mehsana. There were 6 oil expeller installed for producing cotton seed oil in Aditya Oil Industries and the firm has an annual capacity of producing approximately 3153.6 MT/ Per annum of cotton seed oil. After two years, firm was successful in making good profits from production and selling cotton seed oil, promoters expanded business by adding corn oil to their product portfolio by installing machineries for corn oil production in the same space of land. In the year 2011, firm acquired land adjacent to existing land at Kadi and set up the cotton Ginning and Pressing Plant, having installed capacity of processing 26280 MT/ Per annum of seed cotton. After gaining experience of 2 years in cotton industry, the promoters acquired land admeasuring area of 9961 Square Meteres at Survey No. 324, 357, 358, Kadi Thol Road, Borisana, Kadi, Mahesana and floated the company in the year 2013. The company was established with the main aim of conducting business of Ginning and Pressing of seed cotton ('Kapas'). The Company has installed 48 Ginning and Pressing machines which is having capacity of processing 87,600 MT/Per annum of seed cotton. This plant is equipped with modern and automatic plant and machinery. The Company is producing cotton bales and cotton seeds. It is producing mainly two varieties of cotton bales namely Shankar-6 and MCU-5/MECH. The production facility of the Company is situated at Kadi in Mahesana District of Gujarat state which is close to the rich cotton growing areas of Maharashtra, Saurashtra and other regions of Gujarat. The Company is also engaged in the business of trading of Kapas, cotton bales and cotton seeds. It is also doing ginning and pressing of Kapas on job work basis. It is ISO 9001:2015 certified company by OCI (Optimum Certifications INC.). It is also member of Better Cotton Initiatives (Independent Organization) which promotes better standards in cotton farming and practices across various countries. The Company is also registered under Textile Certification Global Organic Textile Standard (GOTS) Standard. Then after in 2015, under leadership of one of the Promoter - Mr. Kushal Nitinbhai Patel started exporting its products through merchandise exporters. From Financial year 2016-2017 onwards, the company also commenced exporting its products directly to few countries namely Pakistan, Bangladesh and Vietnam. During the FY 2016, the promoters again floated a new private limited company named, Axita Exports Private Limited ('AEPL'), a group company, which was incorporated with the aim of exporting of cotton bales to various countries. AEPL exports cotton bales in Bangladesh, Vietnam, China and Pakistan, purchased from Axita Cotton and also exports locally purchased cotton bales from other suppliers. Read More
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