SHREE KRISHNA PETRO YARNS LTD

Article Abstract:

Shree Krishna Petro Yarns Ltd of Silvassa, a cotton spinning and speciality fabrics unit, has declared its financial results for the 6 months ended March 31, 1998. It is now implementing an expansion programme that will increase its spinning capacity to 25,000 tonnes per annum (tpa) from 18,000 tpa and that of processing and speciality fabrics to 25,000 tpa from 18,000 tpa. Its paid-up equity capital has increased to Rs2,808 lakh now from Rs1,985 lakh in March 1997 on the conversion of warrants into equity shares. (khr) ------------------------------------------------------------ Financial results of Shree Krishna Petro Yarns Ltd (Rs in lakh) ------------------------------------------------------------ Particulars 6 months ended March 31 Year ended 1998 1997 31/3/1998* ------------------------------------------------------------ Net sales 22,388 19,921 44,738 ------------------------------------------------------------ Other income 97 73 392 ------------------------------------------------------------ Expenditure 18,697 16,247 37,817 ------------------------------------------------------------ Interest 438 285 803 ------------------------------------------------------------ Post-interest gross profit 3,350 3,462 6,510 ------------------------------------------------------------ Depreciation 424 517 972 ------------------------------------------------------------ Tax 5 5 10 ------------------------------------------------------------ Net profit 2,921 2,940 5,528 ------------------------------------------------------------ Equity 2,808 1,985 2,808 ------------------------------------------------------------ * Unaudited ------------------------------------------------------------

Comment:

Will increase spinning capacity to 25,000 tonnes per annum from 18,000 tonnes per annum

Fiber, Yarn, and Thread Mills, Yarn & Thread Mills, Textile factories

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SHREE KRISHNA POLYESTER LTD

Article Abstract:

Shree Krishna Polyester Ltd of Silvassa has declared its financial results for the 6 months ended March 31, 1998. It has increased its paid-up equity share capital to Rs5,148 lakh now from Rs3,636 lakh in 1996-97 due to the conversion of warrants into equity shares. It is now implementing an expansion programme to increase its spinning capacity from 12,000 tonnes per annum (tpa) to 18,000 tpa and that of processing and speciality fabrics from 18,000 tpa to 25,000 tpa. (khr) ------------------------------------------------------------ Financial results of Shree Krishna Polyester Ltd (Rs in lakh) ------------------------------------------------------------ Particulars 6 months ended March 31 Year ended 1998 1997 31/3/1998* ------------------------------------------------------------ Net sales 26,090 19,570 47,680 ------------------------------------------------------------ Other income 65 67 141 ------------------------------------------------------------ Expenditure 20,780 14,852 38,265 ------------------------------------------------------------ Interest 415 459 831 ------------------------------------------------------------ Post-interest gross profit 4,960 4,326 8,725 ------------------------------------------------------------ Depreciation 535 253 985 ------------------------------------------------------------ Tax 5 5 10 ------------------------------------------------------------ Net profit 4,420 4,068 7,730 ------------------------------------------------------------ Equity 5,148 3,636 5,148 ------------------------------------------------------------ * Unaudited ------------------------------------------------------------

Comment:

Will increase its spinning capacity from 12,000 tonnes per annum to 18,000 tonnes per annum

Noncellulosic Organic Fiber Manufacturing, Polyester Fibers

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SHREE KRISHNA KNITS GROUP UNITS INTO Rs1,200-CR Co

Article Abstract:

Shree Krishna group of Mumbai has decided to merge three of its group companies - Shree Krishna Petro Yarns, Shree Krishna Polyester and Krishna Texport & Capital - into a Rs1,200-crore plus spinning and knitwear company. The first two companies will be merged with the third company, which will be renamed as Krishna Industries Limited. All the three companies have composite cotton spinning, speciality fabrics and processing plant at Silvassa. After the merger, Krishna Industries will have a capacity of 50,000 tonnes per annum making it the world's largest knitting company. Its turnover will be Rs1,000 crore and is projected to cross Rs1,500 crore within five years. The group has drawn up a Rs500 crore expansion plan to increase spinning capacity from 50,000 tonnes to 200,000 tonnes per annum. The expansion programme will be funded through debt in the domestic and international markets. (gsh)

Comment:

To merge Shree Krishna Petro Yarns, Shree Krishna Polyester & Krishna Texport & Capital for Rs1,200-Crore spinning & knitwear co

Acquisitions & mergers, Parent-to-subsidiary activities, Knit Fabrics, Knit Fabric Mills, Shree Krishna Group, Krishna Texport and Capital

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