Texel Industries Share Price

Promoted by Shailesh Mehta and Naresh Mehta in 1989, Texel Industries Ltd., formerly known as Texel Plastics manufactures speciality coated fabrics, protection covers and other related products at its plant in Kalol, Gujarat. The company's products are used in effluent storage ponds, foundations of buildings, water-proofing of buildings, building of roads, storage of grain, transportation of goods, etc. It worked upon an expansion-cum-diversification plan in 1994, whereby, the production capacity was increased to 2195 tpa of wider-width lower-weight speciality coated fabrics and PE protection covers. A new factory was set up for this purpose at Santej near Ahmedabad and went into production in Mar.'95. The company entered the capital market in Sep.'94. Among its products are tunnel lining membrane which provides high tear and puncture resistance to the rock surface of tunnels; roof tile underlay, which prevents water seepage inside wooden houses; pile liner (reinforced concrete columns). The company also developed a special highly chemical-resistant coated-fabric, geo membrane, that can withstand extremely corrosive acids. This was designed mainly for Hindustan Copper. Similarly, it has designed a special geo membrane for Chambal Fertilizers and Chemicals. The company also diversified into the manufacture of coated paper used in the manufacture of flexible packaging. During 1996-97, Company was not able to capitalise on its value added products Viz. Geomembranes due to inherent weaknesses of the economy, and for this many large projects were pending. Company has now finalise some of the important contract and is hoping to increase the turnover of the of the value added Geomembrane product. In 1996-97, foreign exchange earned by the company is amounting to Rs. 3.71 cr.