MAHAVIR SPINNING
Article Abstract:
Mahavir Spinning Mills Ltd (MSML), a part of the SP Oswal group, has expanded its operations to include many varieties of yarn, tyre cord and sewing thread. It has also acquired Mohta Industries, an ailing steel company with a capacity of 0.1 million tonnes per annum at Ludhiana. A subsidiary of Mohta Industries called Mohta Polytex has been merged with MSML and renamed as Vardhaman Polytex. MSML increased its net sales by 5.2 percent in the first quarter of 1998-99 on a year on year basis. (khr)
Publication Name: Financial Express Investment Week
Subject: Business, international
ISSN: 0015-2005
Year: 1998
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VARDHAMAN SPINNING
Article Abstract:
Vardhaman Spinning Mills Ltd (VSML), a producer of cotton yarn and textiles, has decided to expand into weaving and dyeing. It has hived off its loss making steel business to concentrate on its core competency area of textiles. Its revenue margins increased by 1.2 percent but net profit declined by 25.8 percent in the first quarter of 1998-99 due to increased competition from Asian countries. The company has also been affected by increasing raw cotton prices and reducing prices of yarn. (khr)
Publication Name: Financial Express Investment Week
Subject: Business, international
ISSN: 0015-2005
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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