ADINATH TEXTILES LTD
Adinath Textiles Ltd formed in the year 1979 by the Oswal Group of Ludhiana. The company involved in the business of manufacturing synthetic and wool mixed hosiery. And Knitting yarns under the brand name of Adinath. The company started the business on a small scale during 1979-80 at Ludhiana. The companies manufacturing facilities include 5392 capacity of worsted spindles and a combing capacity of 773 tpa of wool tops.
In October 1988 it came up with a public issue to finance its long term working capital requirements. Moreover, it added 6000 worsted spindles by March 1990. As the acrylic market for worsted spinning units turning downwards then it decided to come out of the hosiery segment by diversifying into pure wool and polyester viscose yarns suitable for worsted suitings.
The company obtained a foreign exchange of Rs 5 Crore during the year 1995-96. The company’s margins fallen due to an increase in the cost of the raw material, restricted the money supply, interest in interest rates and significant devaluation of the rupee. Even with marked improvement in production, turnover, and exports the profitability of the company did not improve accordingly.
The top management of the company comprises of Rajneesh Oswal, Parminder Singh, Vishal Oswal, Ramesh Chander, Juneja, Priya Begana, S K Sekhri.