Modern Threads (I) Ltd

(MODTHREAD)

Incorporated in Aug.80 Modern Threads I Ltd commenced operations in Jan.82 at its plant located in Raila Bhilwara district Rajasthan. It was jointly promoted by the Rajasthan State Industrial Development Investment Corporation RIICO and H S Ranka for manufacturing industrial yarn and sewing thread. The company has since diversified into the manufacture of synthetic blended grey dyed and fancy yarn.The Company is one of the biggest manufacturers and exporters of wool and blended worsted yarn from India. Modern Woollens Division is having plant at Bhilwara Rajasthan as manufacturers and exporters of wool and blended worsted yarn from India. Modern Threads Division is also having its plant at Raila District Bhilwara Rajasthan. In Sep.94 the Woollen divisions of Modern Woollens and Suneel Textile Mills were merged with the company. In Feb.95 it came out with a rightscumpublic issue to set up a unit under the EPCG scheme inst. cap. : 25334 spindles to manufacture synthetic blended grey dyed and fancy yarn and increase the existing facilities from 23888 spindles to 25808 spindles.Companys threads division was awarded the ISO 9002 certification by the BIS Bureau of Indian Standards for the manufacture and supply of polyester viscose and blended yarn. Company has been awarded higher export performance award for WOOL TOPS and second highest export Performance award in WORSTED YARN from Wool and Woolen Export Promotion Council. The company new project to manufacture Paraxylene PX and Purified Terephthalic Acid PTA at Bharuch Gujarat in technical collaboration with UOP Inter Americana U.S.A. for PX and INCA International a Subsidiary of DOW Chemicals U.S.A. for PTA could not be implemented as per schedule and now the company has decided to shelve the project for the time being.During 19992000 the accumulated losses of the company have resulted in erosion of more than 50 of its peak net worth and hence making it potentially sick company and proposes to report the fact of such erosion to the BIFR. The reference is now under consideration.The Company doubled the production capacity of all wool and wool blended worsted yarn in 2006.In 2014 about 1000 spindles were added with balanced preparatory machines to enhance yearly production capacity of worsted yarn from 1700 tons to 2100 tons. The Company started manufacturing exporting RWS Responsible Wool Standard GRS Global Recycled Standard products supplying sustainable yarn in global market in 2021..

Share Price: ₹53.80 per share as on 21 Nov, 2024 04:01 PM
Market Capitalisation: ₹190.94Cr as of today
Listing date: 24 Aug, 1995
Chairperson Name: Rajesh Ranka