Jaybharat Textiles & Real Estate Limited
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BSE Code:
512233
NSE Code:
Business Profile
Business Profile
Incorporated on Feb. 21, 1985 as Classic Synthetic and Silk Mills, Jaybharat Textiles and Real Estate (JAYTEX) got its current name on Dec. 23, 2005. It is engaged in the textile business of ring doubling of cotton yarn and manufacturing of cotton yarn by rotor spinning. JAYTEX has also forayed into the real estate business. It is the flagship company of the Mumbai-based Tayal group which is also into the banking and power sectors.
As a part of diversification, JAYTEX will enter into the areas of terry towel, cotton sheeting and shirting, foam manufacturing, and the expansion of existing weaving facilities. It will expand its yarn spinning (ring spinning) and textile fabric processing facilities. The proposed expansion project under the technology up-gradation fund scheme (TUFS) of Government of India envisages setting up of spinning facilities by installing 75,600 spindles for the manufacture of cotton yarn with an aggregate output of approximately 10,700 TPA along with processing facilities of the same capacity for knitted fabrics at village Pulgao near Nagpur.
Jaybharat Textiles and Real Estate is developing an IT park, a shopping mall cum multiplexes, a three-star hotel, banquet hall and auditorium. The registered office of JAYTEX is located at Gujarat, India.
Financials
The company disclosed a substantial drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 46.33% to Rs 23.18 million from Rs 43.19 million in the same quarter last year. Net sales declined marginally 8.14% to Rs 970 million, while total income for the quarter fell 8.14% to Rs 970.49 million, when compared with the prior year period. The company posted earnings of Rs 0.09 a share during the quarter, registering 47.06% decline over previous year period.
Recent Developments
30-MAR-09
CARE assigned a BBB- rating to the long-term bank facilities of the company.