Filatex India Ltd - Stock Valuation and Financial Performance

Filatex India (FIL) was incorporated on August 8,1990, promoted by Madhu Sudhan Bhageria, Purrshottam Bhaggeria and Madhav Bhageria belonging to a reputed and well established business family. It started its first manufacturing facility in January, 1994 in Noida (UP), to manufacture 500 TPA Specialty Polyester/Nylon/ Polypropylene Monofilament yarns in Technical collaboration with  Reifenhäuser,  GmbH,   Germany, who  are  pioneers  in Extrusion Technology in the world and have supplied Monofilament Plant and Machinery to leading world manufacturers like Du Pont, Hoechst, Bayer, etc.

FIL is one of the pioneers in manufacturing Monofilament Yarns for Zippers, Tooth Brush Bristles, Velcro, Magic Fasteners and Forming Fabrics in India. All these products are import substitutes and are helping the country in saving precious foreign exchange.

Today, FIL has become one of the leading manufacturers of Monofilament Yarns in India.

In January, 1996, FIL diversified into high growth area of Specialty Polyester Filament Yarns by putting up its second manufacturing facility at Dadra, Union Territory of Dadra & Nagar Haveli, which is 170 km north of Mumbai. A state-of-the-art plant was imported from Barmag A.G., Germany.

FIL manufactures Specialty Polyester Filament Yarns, which have a high value addition as compared to the normal denier synthetic yarns. One of the Specialty Yarns, which FIL manufactures is Micro Denier Polyester Filament Yarns (MDPFY). MDPFY is an import substitute and its demand is growing at a very rapid pace because of its inherent strengths. These Specialty yarns are used for high value added fabrics like artificial silk which are used for manufacturing of high quality Sarees, Dress Materials, Shirtings and other textile applications. FIL is one of the first dedicated plants for manufacturing Specialty Micro Denier Filament Yarns in the country.

FIL's Specialty Polyester Filament Yarn Project is located close to the major textile centers in the country i.e. Surat and Bombay. This enables FIL in reducing its freight cost and helping the fabric manufacturers in maintaining low inventory levels.

In August 1998, FIL started production of Polypropylene (PP) Multifilament yarn in dope dyed colors, which is widely used in all types of socks, hosiery, panty hozes and seamless garments. Polypropylene is the best subsitute for Nylon/Polyamide because of its superior characterstics.

In year 2008, FIL started producing Polyester Fully Drawn yarn using latest machines from Barmag, Germany. FIL can also produce colored Polyester POY.

In 2012 Filatex India incorporated 'FILATEX SYNTHETICS PRIVATE LIMITED' as a subsidiary of the Company.

Products offered by the company include:

• Polyester Partially Oriented Yarns (POY) - FIL  offers a comprehensive range of POY. Its latest plant also gives it the flexibility to manufacture POY exactly to the client`s specifications.
• Textured Yarns - FIL has installed renowned machines to produce texturised yarns at par with the international standards. High speed texturising machines, equipped with Heberlein jets from Switzerland enables FIL to produce intermingled/non intermingled Texturised yarns confirming to international quality norms.FIL offers its clients textured yarns in all permutations and combinations. These are produced as set, intermingled, crimped, & interlaced type in semi-dull finish.
• Micro Denier Yarns - FIL manufactures Micro Denier yarns that meet the international/domestic market specifications. FIL produces Micro Deniers ranging from 0.5 to 0.8 deniers per filament. The superior qualities and properties of the product make it ideal for the production of artificial silk-like fabrics (used for sarees, dress materials, home furnishings, etc.) and a whole lot of other applications.
• Polypropylene Yarns - FIL manufactures Polypropylene Multifilament Crimp yarns in different shades and deniers, the range being Deniers from 65 to 300. FIL also has the capability to produce PPY in other different shades depending on the market trend and the customer specifications.
• Monofilament Yarns- FIL manufactures a range of high quality monofilaments – (Brand Name: Monofil) at its Noida Plant using superior technology from Reifenhäuser GmbH, Germany. 

Milestones achieved

• 1990 -- Filatex India Limited was incorporated as a Public Limited Company on 8th August.The company obtained Certificate of Commencement of Business on 5th September. The company obtained Registration from Department of Industrial Development, Ministry of Industry, Secretariat of Industry Approvals, Government of India for manufacturing of polyester/nylon monofilaments with annual capacity of 500 tonnes at Noida Industrial Area, Distt. Ghaziabad, U.P.
• 1993 -- FIL carried out public issue of 18,00,000 Equity Shares of Rs 10 each for cash at par aggregating Rs 18 million.
• 1994 -- FIL started its first manufacturing activity in January with setting up of plant at Noida, (UP) for the manufacture of 500 TPA Specialty Polyester / Nylon / Polypropylene Monofilament yarns.
• 1995 -- FIL set up wind power project at Tamil Nadu, which was successfully commissioned in March (1 MW) Filatex issued 35,00,000 equity shares of Rs 10 each at a premium of Rs 35 per share to financial institutions, mutual funds, and high net worth Investors.
• 1996 -- FIL forays into the manufacture of Speciality Polyester Filament Yarn by the setting up of a second manufacturing facility at Dadra, Union Territory of Dadra & Nagar Haveli in the month of January.
• 1999 -- The gross turnover of FIL crossed Rs1000 million mark. The manufacturing facility of the company at Noida and the corporate office at New Friends Colony, New Delhi receive ISO 9002 Quality Certification (for Manufacture & Marketing of all kinds of Mono Filament Yarn)
• 2000 -- FIL receives ISO 9002 Quality Certification for its manufacturing setup at Dadra (for Manufacture and Marketing of Polyester & Polypropylene Synthetic Filament Yarn of all kinds)