GSL (India) Limited
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BSE Code:
503738
NSE Code:
GSL
Business Profile
Business Profile
GSL (India) (GSLINDL), incorporated on Jan. 08, 1982, is engaged in the manufacture of synthetic blended yarn. Earlier known as Gujarat Spinners, it got its present name effective from Nov. 15, 1990. It is part of the Bagrodia group, and GSL Product, GITCO Traders, Mangalam Marketing & Finance, and Melodeon Export are associate companies.
The company has its manufacturing units located in Gujarat and the Union Territory of Dadra and Nagar Haveli with an installed capacity of 49,424 spindles. Mostly job work has been undertaken as the overall performance is affected due to non-availability of sufficient funds for working capital and captive power. It was declared as a sick industrial unit on Mar. 21, 2001 by the Board for Industrial & Financial Reconstruction (BIFR), which has on Apr. 17, 2007 directed the operating agency to submit a revival scheme.
The registered office is located at Amletha Village, Rajpipla Taluka, Narmada-393140, Gujarat.
Financials
GSL (India) registered a loss of Rs 17.7 million for the quarter ended June 2008.
Net sales declined 27.55% to Rs 121.96 million for the quarter ended June 2008 from Rs 168.33 million for the quarter ended June 2007.
Total income dipped 27.68% to Rs 122.47 million from Rs 169.35 million for the quarter ended June 2007.
The loss per share of the company stood at Rs 0.79 for the quarter ended June 2008.