Krishna Filament Industries Share Price

Promoted by O P Agarwal, K K Agarwal, S N Agarwal, R K Agarwal and S V Agarwal, Krishna Filaments (KFL) was incorporated in Jul.'88 as Orkays Rope Manufacturing Company and the name was changed to the present one in Sep.'89. KFL came out with a premium public issue of equity shares in Mar.'94 to part-finance a project to set up a 100% EOU to manufacture 8-strand ropes at Nashik. The products of the company include synthetic ropes made of polypropylene (PP) and high-density poly ethylene (HDPE) as well as twine and nets made from the same raw material. KFL has entered into a technical collaboration with Daewoo Corporation, South Korea, for the necessary equipment for the former's plant at Nashik. The company came out with a public issue of Optionally Fully Convertible Discounted Debentures (OFCDDs) in Apr.'97 to part-finance the expansion programme to increase the capacity of 3 strand ropes to 6800 tpa, 8 strand ropes to 7200 tpa, twines to 4000 tpa and to introduce a new product line, speciality nets (inst. cap. : 3000 tpa). To capitalize on an opportunity created by the closure of several Korean majors in the industry, the company has embarked on expansion in the lines from 6900 TPA to 20000 TPA. During 1998-99, the company increased its installed capacity of Synthetic Ropes to 21000 MT. The company has obtained the Quality System Certification ISO 9002 during the year 2000 for its manufacturing process. In view of the losses incurred by the company during the year 2000-01 and due to poor operations, a major lay off had been given to the workers of the company.