GARWARE MARINE INDUSTRIES LIMITED

GARWARE MARINE INDUSTRIES LIMITED

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Company Overview
Garware Marine Industries Limited (GMIL) is a public limited company that specializes in the manufacture and marketing of fishing nets made from nylon yarn in India. The company was incorporated in 1975 as Modern Nets Ltd and changed its name to Garware Marine Industries Ltd. in 1981. Its registered business office is located in Mumbai, India. Its shares are listed on the Bombay Stock Exchange.
Garware Marine’s range stretches from 210 denier / 2 ply to 36 ply / from a minimum 10 mm (millimeter) to 400 mm mesh sizes and up to maximum 600 mesh depth (MD). The company has 24 net making machines. Moreover, it has a monthly production capacity of approximately 25 tons of nets and has an annual total turnover of more than 100 million Indian Rupees.
Garware Marine’s factory is located at Ahmednagar district, the largest district in the state of Maharashtra. It markets its products through a chain of distributors and agents. Further, the company caters the needs of large number of fishermen throughout the Indian sub-continent.
Business Summary
The Company manufacturers fishing nets, ropes and twine from synthetic material artificial fibre such as Nylon, rayon, filament and feet and from Nature fibres such as cotton wool, silk, hemp and jute. The company also manufacturers PVC floats and nylon monofilament.
Description and history
The Company manufacturers fishing nets, ropes and twine from synthetic material artificial fibre such as Nylon, rayon, filament and feet and from Nature fibres such as cotton wool, silk, hemp and jute. The Company also manufacturers PVC floats and nylon monofilament.
The Company was incorporated on 8th August 1975, at Mumbai. The Company was promoted by B.D. Garware. Maharashtra Rajya Machhimar Sahakari Sangh, Ltd. had been associated with the Company since its inception and subscribed for preference shares of the Company of the face value of Rs. 5 lakhs at the time of promotion. In September 1994, the Company issued a rights issue of 14,43,200 No. of equity shares of Rs. 10 each at a premium of Rs. 15 per share to the existing shareholders in the rates of 2:5 shares. Another 72,160 shares were covered to the employees on an equitable basis (Details of allotment not know).

Incorporated as Modern Nets Ltd

Business Line
Specializes in the manufacture and marketing of fishing nets made from nylon yarn in India
Subsidiary

Advisor
RAMAN S. SHAH& ASSOCIATES
IPO date

US SIC Code
2298
Company Address
CHANDERMUKHI
NARIMAN POINT
City province or state postal code
400021, MUMBAI
Phone: +91 22 22020745
Fax: +91 22 22029964
Country address: INDIA
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