Business Details

Description: The company was incorporated in the year 1991 by the promoter having rich experience of more than 50 years in the textile industry. The family business is promoted by entrepreneurs from the family that is in the business. The group has 50 to 70% shareholding is planning to exit.

Now, the promoters are planning to move abroad and are looking to exit from the company. The company is having ROC at Karnataka with Authorised Capital INR 5 Cr. and Paid-up capital INR 4.48 Cr. Last year turnover of the company was around INR 6.50 Cr. The company is listed on the Bombay Stock Exchange (BSE) since 1991.

Operations: The company is engaged in the manufacturing of cotton yarn. The company majorly manufactures yarn in the form of hank form which is extensively used in handloom sector. The company is also engaged in cotton trade and ginning.

Location: The spinning mill is strategically located on the cotton growing belt, which is a prominent cotton market centre in Karnataka.

Headcount: Competent team of 70 people having N years of experience in the sector

Financials:
Turnover for FY 2016-17: INR 6.86 Cr.
Turnover for FY 2015-16: INR 7.65 Cr.
Turnover for FY 2014-15: INR 11.55 Cr.
Turnover for FY 2013-14: INR 18.13 Cr.

The asking price for the business will be discussed with suitable buy side. total 50% to 70% shareholding.