Aditya Spinners Ltd Share Price

(521141)

V N Nadkarni Aditya Spinners ASL was established in 1991 and is located in Perindesam, Chittoor district in Andhra Pradesh, India. It has an installed capacity of 15360 ring spindles to produce polyester and viscose blended yarns, and has added 6710 more spindles to its existing plant in 1995, at the expense of Rs. 14.53 crores. ASL entered the export market in 1995-96, and has secured export orders for supplying polyester and viscose blends, to France and it has also entered a long term tie up with Lodovico Rossini, Italy, for two large containers, valued at Rs. 50 lacs. The company is now seeking an ISO 9000 accreditation for expanding its exports. It is also looking to restructure its finances, and has submitted a revival proposal to IDBI, which includes a waiver of around Rs. 21 crores, conversion of Rs 8 crores into equity and reschedulement of Rs 11 crores to be payable in 2011 and 2012, without interests, out of the overdues of Rs 39 crores. Alongside the restructuring package, IDBI is also approving modernisation, expansion and line balancing work, which would cost Rs. 13.16 crores.

Listing date: 10 May, 1995