Garden Silk Mills Ltd
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BSE Code:
500155
NSE Code:
GARDENSILK
Business Profile
Business Profile
Garden Silk Mills (GARDENSILK) is a fabric engineer, design maker and polyester yarn manufacturer. The company was incorporated on July 23, 1979 as a private limited company and became public on July 17, 1987.
The company`s range of fabric centers around fine filament and micro filament polyester fabrics like georgette, chiffon, faille, greige fabric, jacquard (dyed and printed) for ladies blouses, skirts, dresses as well as sarees. It also manufactures a range of printed pure silk chiffon, cotton and viscose. The company has introduced value-added finished fabrics with stitch work, pleating and crushing.
The company`s production facilities are located in Vareli, Surat with a capacity of over 4.2 million meters/month of greige fabric; and a state-of-the-art PFY spinning plant in Jolwa near Surat. The Vareli plant has an ISO 9002 certification by BVQI. The company signed a contract with China Textile Industrial Engineering Institute to set up a continuous polymerization plant with a capacity of 260,000 TPA textile grade polyester chips to commence production by October 2008 and entered into agreement with Oerlikon-Barmag of Germany and TMT of Japan for supply of a polyester yarn plant of 55,000 TPA capacity.
The company has a large pool of designers who continuously develop new fabrics and 2,000 new print ideas each year. Its marketing network encompasses 68 dealers, 18 company owned depots and 293 retail outlets in over 65 cities in India. The company also exports fabrics to UK, France, Spain, Portugal, Greece, Middle East and Gulf countries, USA, Australia, Singapore, Thailand, Hong Kong, Mauritius, South Africa and Brazil.
The registered office of the company is located at Sahara Gate, Surat-395010, Gujarat.
Financials
The company reported a growth in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company rose 3.08 times to Rs 196.59 million from Rs 63.81 million in the same quarter last year. Net sales for the quarter rose 15.75% to Rs 4817.29 million, while total income for the quarter rose 15.29% to Rs 4815.03 million, when compared with the prior year period. It posted earnings of Rs 5.13 a share during the quarter, registering 3.07 times growth over previous year period.
Recent Developments
20-MAY-09
The company is setting up a continuous polymerisation plant for polyester filament grade chips with a capacity of about 300 tons per day (tpd) along with FDY spinning capacity of about 100 tpd.