Adinath Textiles Ltd share Price Today

Adinath Textiles Ltd is a company that operates in the Textiles sector and has a market capitalization of Rs. 1.88 crore on May 12 2021. On January 16, 1979, it became a corporation. At the end of December 2020, it registered combined revenue from Rs 44.54 crores (Unaudited). The Bombay Stock Exchange (BSE) has assigned the number 514113 and is currently not traded on the National Stock Exchange. Adinath Textiles Ltd is trading at Rs. 2.76 as of May 12, 2021. The Oswal Group of Ludhiana established Ahinath Textiles in 1979 and Mahavir Spinning Mills and Vardhaman Spinning and General Mills. Under the Adinath brand name, it produces silk and wool-blend hosiery, as well as knitting yarns. The company started operations on a small scale in Ludhiana in 1979-80, with an installed capacity of 5392 worsted spindles and a combing capacity of 773 tpa of wool tops. In October 1988, it issued a public offering to fund its long-term working capital needs. It had added 6000 worsted spindles by March 1990. The company has planned to exit the hosiery business by diversifying into polyester fibre, pure wool, and polyester viscose yarns suitable for worsted suitings, as the acrylic demand for worsted spinning units has become a low margin operation. The corporation received Rs 5 crore in foreign exchange in 1995-96. The company's profits were depleted during the year as a result of rising raw material costs, limited money supply, interest rates, and a major devaluation of the rupee, all of which contributed to the acrylic yarn industry's continued recession. In March 2019, net sales were Rs 0.74 crore, down 38.84% from Rs 1.21 crore in March 2018. In March 2019, the quarterly net loss was Rs. 0.46 crore, up 109 % from Rs. 0.22 crore in March 2018. In March 2019, EBITDA was negative at Rs. 0.15 crore, down 87.5% from Rs. 0.08 crore in March 2018. On October 31, 2018, ADINATH TEXTILE's stock closed at Rs. 3.19. (BSE) The Promoters currently hold 43.64% of the stake in the company, whereas the DII's, FII's and the public hold 0.0%, 0.0% and 56.36% stakes, respectively.