Banswara Syntex Ltd

Banswara Syntex Ltd

Banswara Syntex Limited (BSL) incorporated in 1976 and promoted by R L Toshniwal and Associates Banswara Syntex manufactures special dyed yarns and shuttleless woven fabric. The Company is engaged in manufacture of Textile products having integrated working and captive power generation. The Company has an installed capacity of 137460 spindles and 448 air-jet looms as on March 31 2022and supplies its products to leading fabric and garment producers in India and abroad.The company is a government-recognised Export House and its major clients include quality fabric makers like Raymonds Reliance Grasim Siyaram Bhilwara etc. Banswara Syntex has established good overseas market for its yarn and fabric and to increase value-added exports it has set up a weaving unit Toshco International with 24 air-jet looms. The company has also entered into a collaboration with Altex UK to provide it with expertise in finishing and marketing of fabric as also technical assistance in upgrading Banswara's processing plant. The company's products will also be marketed by Altex in specified territories including the UK and Europe.The company expanded its spinning/weaving capacity to 43632 spindles and 72 shuttleless looms. It also upgraded and modernise its process house and to part-finance this project the company came out with an issue of equity shares in Mar.'95.During 1995-96 the company has increased the installed capacity of Cotton Yarn by 1920 Spindles and by 23 Looms.To cater to the company's Power requirement the company has installed furnace oil based power generating sets of total capacity 6.2 MW at the cost of Rs.1400.00 lacs in 2000-01. The company has taken up 2 expansion cum modernisation programme viz installed capacities were enhanced to 69056 spindles and 89 looms to 92 looms. The 6.2 MW power plant were installed successfully in 2000-01. It is also planning to increase its own power generation capacity by adding two more DG sets 1.45 MW and 2.05 MW capacity.During the year 2003-04 the Company increased its power generation capacity by adding two more FO based Wartsila power plantsof 1.475 MW and 2.05 MW at the cost of Rs.1042 lacs. With these additions the total FO based power generation capacity of the company has increased to 9.725 MW.In 2004-05 Company's diversification project (for cotton spun yarn) of 12096 spindles has commenced commercial production from April 2005. It also converted about 8000 ring spindles from synthetic yam spinning to cotton yam spinning. It started production of cotton yarn during the year 2005-06 and has also stabilized the production of garments at its Daman Unit at 60000 pieces per month on single shift basis. It also undertaken an expansion modernisation and diversification plan with total capital cost of Rs. 7200 lacs.As per the order of the Hon'ble High Court of Rajasthan Jodhpur M/s Banswara Textile Mills Ltd. amalgamated with the company with effect from 15th October 2005. During the year 2006-07 the Company added 10432 spindles and 16 Air Jet Looms to its spinning andweaving capacity. The JV Company Carreman Fabrics India Limited set up a weaving unit at Banswara which commenced commercial production from July 2006. During 2007-08 the Company added 16440 new Ring Spindles and 17 Air Jet Tsudakuma Looms besides installation of 10 Picanol Looms in Carreman Fabrics India Ltd.During 2008-09 the company added 284 new Ring Spindles for synthetic spinning 14400 spindles for worsted spinning 39 looms and 2 Jacquard Looms besides increase in production capacity at Garment Plants at Surat and Daman and commenced production and sale of made-ups division for export which was shifted from SEZ - Surat to Banswara.The Company has made investment of Rs.2280 lacs in spinning for modernization and replacement of spindles Rs.447 lacs on fabric weaving for replacing 20 looms and Rs.951 lacs on fabric processing facility adding various value adding machines suitable for technical fabrics and increase in the processing capacity by about one million meter a month besides Rs.907 lacs in readymade garments division for 4 additional lines for trousers and 1 line for production of Jackets at Daman and Surat in 2009-10.In 2014-15 the Company purchased additional equity from Carreman France in Carreman Fabrics India Limited (Now known Banswara Global Limited) and consequently Banswara Global Limited (BGL) became wholly owned subsidiary of the Company effective from August 12 2014. During the financial year 2016-17 Banswara Global Limited Subsidiary Company and Banswara Fabric Limited Associate Company merged with Banswara Syntex Limited as per Scheme of Amalgamation approved by Hon'ble High Court of Rajasthan at Jodhpur with became effective from 31st August 2016.