Kothari Industrial Corporation Ltd

Kothari Industrial Corporation Ltd

The company was incorporated in 1970 as a public limited company under the name Kothari (Madras). Later five companies -- Kothari Textiles Adoni Spinning and Weaving Mills Balamadies Plantations Waterfall Estates and Blue Mountains Estates and Industries --were amalgamated with it. In 1984 the name of the company was changed to Kothari Industrial Corporation (KICL). Pradip D Kothari is the Chairman and Managing Director of KICL. Subsidiary companies are Kothari Information Systems Kothari Hotels and Kothari (Madras) International.KICL is a well-diversified company with four divisions -- textiles plantations granite and fertilisers. In Nov.'92 it came out with a rights issue of 4.5 lac 16% PCDs of Rs 400 each amounting to Rs 18 cr.The company increased its Spinning Capacity and also modernised the facilities at Singanallur and Vadamathurai plants.It had also set upa 100% EOU to manufacture 50000 Sq mtr of granite tiles at Ennore near Chennai.These projects were partly funded by the issue made during 1992 to the tune of Rs.22.50 crores.The proposed transfer of Kothari Textile - Mill No. 2 at Coimbatore to the wholly owned subsidiary of the company is being pursued and is expected to be completed in the current financial year