Nakoda Group
The Company was incorporated as a private
company on 13 August 1984 under the name of
Nakoda Private Limited. It
became a deemed public limited company by virtue
of Sec. 43A of Companies Act 1956 on 17 August
1989. The Company was converted into public
company on 16 September, 1991. The name of the
Company was changed to Nakoda Limited on 20
February 2010.
The Company was engaged in trading of textiles
for a year since incorporation and established its
own Texturising Plant at Silvassa in the Union
Territory of Dadra & Nagar Haveli in February 1986.
It was engaged in processing of Polyester Yarn like
texturising and twisting. Its licensed capacity &
installed capacity of texturising was 708 MTPA and
twisting 525 MTPA. The texturising capacity was
then expanded to 2,658 MTPA by adding new
texturising machines. The expansion plant was
setup at village Karanj in Surat District. The
Company embarked upon integrated plan of POY
spinning with an installed capacity of 6000 MTPA,
initially. POY spinning lines alongwith other
machineries were erected at the site and
commercial production commenced in March 1997.
Gradually, POY capacity was enhanced to 12,500
MTPA by installing of balance equipments,
increasing productivity, introducing cost control
and developing capabilities of human resources.
In 2010 the spinning capacity is enhanced from
50,000 MTPA to 1,00,000 MTPA.
It has extended its core business by implementing
a Continuous Polymerisation (CP) Plant as
backward integration with capacity of 1,40,000
MTPA.
It has successfully extended beyond the
boundaries, and its South Korean subsidiary – Indo
Korean Petrochem Limited commenced production
during September 2010 The Korean CP Plant has a
capacity of 1,00,000 MTPA.
Extending beyond the core the Company has
identified Renewable energy as an exciting sector
and invested in Wind Mill Power projects in Tamil
Nadu (6.75 MW) and MP (5.25MW).
The Company made its public issue of fully
convertible debentures aggregating to Rs. 60
million in the year 1992. A preferential allotment
of equity shares aggregating to Rs. 49.45 million
was made in the year 1997. With this allotment
the total paid up equity capital was enhanced to
Rs. 110 million. By the year 2009, the paid up
equity capital was further increased to Rs. 166
million by way of preferential allotments. The
Company made a Bonus issue in the ratio of 1:1
during 2010, and the paid up equity capital was
raised to Rs. 332 million. The company has issued
2 million GDRs representing 60 million underlying
equity shares in November 2010, and the paid up
capital was raised to Rs. 632 million. The equity
shares are listed on Bombay Stock Exchange Ltd
and the GDRs are listed on Luxembourg Stock
Exchange.
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