Sumeet Industries Ltd share Price Today

Sumeet Industries Ltd., formerly known as Sumeet Synthetics (SSL) was incorporated on 1 Aug.`88 as a private limited company and was converted into a public limited company on 1 Feb.`92. Shankarlal Somani is the chairman and Rajkumar Somani is the managing director. The company is into textiles and its products are polypropylene filament yarn, grey cloth, etc. Its plant, in the Surat district of Gujarat, has an installed capacity to manufacture 2000 tpa of polypropylene multi-filament yarn in technical collaboration with Neumunstersche Maschinen Und Anlagenbau (Neumag), Germany. The expansion programme which was taken up in 95-96 to increase the installed capacity at a cost of around Rs.6 Crore was completed fully. During 1996-97, the company increased its installed capacity of Twisted yarn by 300 TPA. During 1997-98, the company has increased installed capacity of Polypropylene POY by 1000 TPA, it is also concentrating on export marketing. During 1998-99, company has increased the installed capacity of Twisted yarn by 1200 TPA & Polypropylene POY by 540 TPA. M/s Somani Industries (Nepal) Pvt Ltd has been established as subsidiary company in the year 2000-2001. The company has expanded the installed capacity of Texturised Yarn during the financial year 2003-04 by 600 Tonnes and with this expansion,the total capacity has risen to 3300 Tonnes. The company has been awarded Gold Trophy by Synthetic and Rayon Export Promotion Council for highest export performance of non fabrics category in South Gujarat Region over the period 2001 to 2004. The company has installed a power plant and has been started generating power.The 2.50 MW coal based power plant has been installed with investment of Rs.5.60 crores.