Rajasthan Spinning and Weaving Mills Ltd (RSWML) was incorporated in 1960. It was promoted by the Bhilwara Group which has interests in various group companies. The Company is one of the largest texti
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le manufacturing companies having multiple facilities to produce green fibre, yarn and fabric. The Company is producing the best quality of yarns like synthetic, blended, mélange, cotton, speciality and value added yarns suitable for suitings, shirtings, hosiery, carpet, denim, technical textiles and industrial applications
and denim fabric, synthetic fabric for renowned brands.
RSWML came out with a Rs 157 cr Euro-issue in 1994 to finance its ambitious plans to increase spindleage by 18,800, add 24 looms at each of the units and to set up a process house at its Banswara unit with a capacity of processing 156 lac mtr of fabric pa. The product-mix of the company includes blends like polyester/viscose, 100% viscose, 100% polyester, polyester sewing threads, 100% acrylic, polynosic blends, silk blends, viscose/flax, polyester/cotton, 100% cotton melange yarn.
In 1993-94, it signed a MoU with Hydro Quebec International, Canada, to implement 86 MW Malana and 192 MW Allain Duhangan projects in Himachal Pradesh. It markets its products under the well-known Mayur brand in India and exports its products to the European and the US markets. It has opened marketing offices in Italy, Belgium and the UK.
During 1997-98, Bhilwara Melba De Witte Ltd, a joint venture project promoted by the company with Australian and Belgian partners, has established its leadership in the market for automotive furnishing fabric. In 1998-99, it increased the installed capacity of spindles and looms to 1,31,376 nos and 157 nos respectively and commissioned 4.2 MW each of power plant for captive consumption.
Term loan upto Rs.24 crores has been sanctioned from PNB for Yarn Dyeing project at Mandpam,Looms at Gulabpura and the modernisation scheme has already commenced. The Board of the company has approved for acquiring Rishabhdev Textile Mills unit of HEG Ltd and it was acquired with effect from 01.04.2003. The 2.8 MW at Mandpam at cost of Rs.10.00 crores was installed in 2002-03 and operations has commenced during the year itself.
During the year 2004, Rishabhdev unit of HEG Limited was acquired with effect from 1 st April, 2003 pursuant to the orders of Hon'ble High Courts of Rajasthan and Madhya Pradesh dated 5th September, 2003 and 30th July, 2003 respectively .
In 2004-05, acquired around 80% stake in Jaipur Polyspin Limited at Sikar, Rajasthan, which manufactures dyed synthetic blended yarn and has a capacity of 27,840 spindles. 2004-05 marked the complete opening-up of the global textiles trade. On January 1 2005, global trade in textiles and clothing was completely integrated into the multilateral trading system with the removal of all quantitative restrictions on exports according to the Agreement on Textiles and Clothing (ATC).
The Company acquired Mordi Textiles and Processors Limited (MTPL), a small textile processing plant in Banswara in 2005.
Jaipur Polyspin Limited (JPL) and Mordi Textiles and Processors Limited (MTPL), got merged with the Company in 2006 and upon the merger of JPL and MTPL, the Company allotted 12,28,689 equity shares of Rs. 10/- each to the shareholders of these erstwhile companies on 13th March, 2006.
The Company incurred a capital expenditure of Rs. 8,295.90 lac during the year 2005-06 under the Textile Up-gradation Fund (TUF) Scheme in existing and newly acquired units. It invested Rs 3,621.75 lac during the year on setting up a state-of-the-art readymade garments unit in Bangalore. The expansion of 26,496 spindles for Cotton yarn in Banswara and 10,896 spindles in Mandpam, was completed in 2006. Further, the Company initiated installing an open-end spinning facility in the Banswara unit, polywool fabric processing and modernisation in the Mordi Unit, expansion of cotton yarn dyeing facilities in Mandpam and balancing machinery and equipment for value addition in various units of the Company.
The Government of Himachal Pradesh, the formalities for transfer of the Allain-Duhangan Hydro Electric Power Project to AD Hydro Power Limited were completed during the year 2006.
The Company during 2007 implemented other expansion projects including 20,160 spindles at Kharigram for blended yarns, 1,680 open-end rotors at Banswara and 10,080 spindles at Rishabhdev for viscose yarn. It added further 35 weaving machines to its existing 69 looms during the year at its new weaving division at Mordi.
The first phase of setting up of yarn spinning facility for Denim plant costing at an investment of Rs 172 Cr. was completed in 2006-07. 46 MW Captive Thermal Power Plant at Mordi started commercial production during quarter ended December, 2007. The Company acquired 1,11,24,354 equity shares of Rs. 10 each, constituting 48.17% of the equity capital of M/s. Cheslind Textiles Limited (CTL) at a price of Rs. 25 per share from the promoters; and 42,24,123 equity shares of Rs. 10 each constituting 18.29% voting rights through a public offer at the same price as per SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and CTL became subsidiary of the Company from 30th August, 2007. Similarly, the Company also acquired a company in Netherlands by the name of Duindistel Holding B.V, which was rechristened later as RSWM International B.V. and it became wholly owned subsidiary of the Company w.e.f. 24th April, 2007. Later RSWM International B.V. became 50 per cent Joint Venture Partner in SISA S.A., Spain (now rechristened as RSWM-SISA S.A.), which is into manufacture and marketing of high end fashion yam in the European markets.
The Scheme of Arrangement/De-merger of the Strategic Investment Division of the Company consisting of 66,00,000 Equity Shares of Rs.10/- each in the share capital of BMD Private Limited into Bhilwara Technical Textiles Limited (BTTL) became effective in March, 2009. Accordingly, the 66,00,000 Equity Shares of BMD Private Limited held by the Company got vested with BTTL. And as per the approved De-merger Scheme, the Shareholders of the Company have been allotted 10 Equity Shares of Rs.1/- each of BTTL for every 4 Equity Shares of Rs.10/- each held in the Company on the record date i.e. 24th April, 2009. The Equity Shares of the resultant Company M/s Bhilwara Technical Textiles Limited was listed on Bombay Stock Exchange Limited during the year 2009-10.
The installation of 1,440 rotors and denim fabric manufacturing capacity was completed in 2011-12. In 2014-15, the Company commissioned 25,344 spindles for mélange yarn at Kanya Kheri, Bhilwara and 50 MT Green Polyester Fibre Project at Ringas. The capex proposal entailing modernisation of Fabric Unit at Banswara and Yarn division at Bagalur amounting to Rs 3.17 crore and Rs 10 crore were completed during the year thereby improving the overall productivity.
The Denim Sheet Dyeing Project was commissioned in 2017, which accordingly increased the production capacity of Denim Fabric to 5 million meters from the earlier 17 million meters. The Roof Top Solar Power Project of 1.8 MW Capacity was installed and commissioned at Bhilwara, Rajasthan in 2016-17.
The Company installed and operationalised 3.6 M.W Roof Top Solar Power facility at its Mandpam and Kanyakheri Units, which had been built at a total cost of Rs 16.05 crores in 2018.
In 2018-19, the Company acquired 54.26% shareholding in M/s. LNJ Skills & Rozgar Private Limited at an investment of Rs 11.80 Crore and acquired 11,80,000 Equity shares in the Company and upon acquisition, M/s. LNJ Skills & Rozgar Private Limited became subsidiary of the Company effective November, 2018. M/s. LNJ Skills & Rozgar Private Limited subsequently ceased to be the subsidiary of the Company in April, 2019 with the allotment of equity shares by them to other entities to further their business.
The Company sold its investment in M/s. Bhilwara Energy Limited comprising of 1,69,38,599 equity shares of Rs 10/- each constituting 10.21% to M/s. HEG Limited on 10th April, 2019 for a consideration of Rs 84.85 Crores. However, the Company held 1,25,24,960 Equity Shares constituting 7.56% of paid up capital in M/s. Bhilwara Energy Limited and M/s. Bhilwara Energy Limited was treated as an Associate of the Company.
During the period 2022-23, the sale/transfer of Private Freight Terminal of the Company situated at Namli, Madhya Pradesh was completed and entire consideration was received as per MOU entered with the buyer.
The setting up of 19,488 Spindles of combed spinning of Cotton Yarn at Mordi at a capital outlay of Rs?78.35 Crores, setting up of 30,000 Spindles of Mélange yarn at Kharigram at a capital outlay of Rs 157.12 Crores and the setting up of Knitted Fabric facility at Mordi at a capital outlay of Rs?89 Crores in the first phase were completed and made operational in Q2 of 2022-23.
The Company purchased 100% shareholding in M/s. BG Wind Power Limited at a consideration of Rs 5 Crores from Bhilwara Energy Limited an Associate of the Company and BG Wind Power Limited became wholly owned subsidiary of the Company in 2023.
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