Bhilwara Spinners Share Price

Engaged in the manufacture of cotton yarn, synthetic blended yarn, hosiery yarn and sewing threads, Bhilwara Spinners is controlled by the Bhilwara group of Rajasthan. A subsidiary of Rajasthan Spinning & Weaving, it became an independent company in 1990-91. It exports to countries in western Europe and east Asia. Bhilwara Spinners came out with a public issue in Apr.'93 to part-finance its modernisation and to augment its working capital. A cost overrun of Rs 45 lac, was met through internal accruals. In 1995-96, the company undertook a balancing-cum-modernisation and expansion programme costing Rs 22.78 cr and as a result, 3840 spindles are added. The 4.25 MW Power project was completed in October,1998. he company completed the installation of 3 Autoconers and 8 Two for one twisters. The scheme of Amalgamation of the company M/s Rajasthan Spinning & Weaving Mills Limited has not been given effect in view of the order of the Hon'ble High Court of Rajasthan,Jodhpur passed during 2000-01. The company made a reference to BIFR about accumulated losses resulting in erosion of the networth of the company.