Aafloat Textiles (India) Ltd - Stock Valuation and Financial Performance

Aafloat Textiles (India) Limited (formerly known as M/s Akai Impex Limited) is an existing profit making company and a Government recognized 'Trading House' engaged in the export of textiles, garments, dyes and chemicals, pharmaceuticals and engineering goods. The company is also a bulk indentor of partially Oriented Yarn and Polyester Filament Yarn in the domestic market.

The company was incorporated in 1977 as a private limited company and became a deemed Public company with effect from July 01, 1989 and subsequently converted into fully fledged Public Limited company on February 05, 1993 and certificate obtained on August 04, 1994.

The company was initially set up to promote sale of engineering items including bicycles, diesel engines, agricultural implements and spares parts. The company has subsequently diversified into the trading of textiles, garments, dyes and chemicals, pharmaceuticals, etc. On account of its export performance, in 1992 Akai was recognized as a 'Trading House' by Government of India. Over the years, the company has developed a base of International affiliates and has set up a net work of associates in several countries.

Current Business:

The company’s export operations are currently dividend into four divisions’ viz., engineering (including custom made forging etc) textiles (including polyester texturised yarns, made-ups readymade garments, fabrics etc) chemicals (dyes and intermediates, pharmaceuticals) and global tendering for projects. Each division is headed by a Vice President, Besides undertakings merchant exports, Akai is also actively engaged in procuring raw materials and getting them converted from other units/manufacturers. This is particularly prevalent in engineering and textile divisions which together constitute bulk of its turnover.

The company is also a bulk indenter of Partially Oriented Yarn (POYs) in the domestic market. The company acts as sole selling agents in India for POY for Tainan Spinning Company limited (TSLs) Nanya Plastics Ltd., Taiwan and various other reputed spinners of Taiwan, Korea and Indonesia. It has supplied POY to most of indigenous consumers. Thus, it has wide experience in trading and dealing in POY Industry.

Akai Impex Ltd was the pioneer company to start export of texturised yarns from India, during the last three years; it has exported PFY yarns to various countries like Vietnam, Sri Lanka, Bangladesh Singapore, Afghanistan, erstwhile USSR, UK, and Egypt etc.

Though the company doesn't have any manufacturing base of its own, it purchases raw materials under advances license and supervises the processing of goods in the plants of its processors. It has acquired experience related to manufacturing by deputing its personnel to the plants of its processors to ensure quality and reliability of output and adherence to time schedule.