Ashima (AL), promoted by Chintan N Parikh and Sanjay S Lalbhai, apart from manufacturing synthetic textiles is also into engineering (to manufacture high-tensile fasteners and automobile components), dealership (to sell PFY and POY) and construction. In 1992, after Sanjay Lalbhai's substantial disinvestment, Chintan Parikh executed a strategic acquisition of a controlling interest in the company. The sizing facility and engineering division were executed a strategic acquisition of in Jun.'92, as part of the package deal with Anagram Finance.

The company created and deployed a 100% EOU to manufacture grey cotton fabrics, which started commercial production in Jun.'93. Within 9 months, this unit was accredited with the ISO-9002 certification. It assumed full control of the 20,240 spindles and the entire weaving and processing infrastructure of the Ahmedabad-based Mihir Textiles (of the Sungrace Mafatlal group) in Nov.'93. This was converted into a high-technology denim plant, Ashima Denims, to manufacture and export denim.

In 1995, AL promoted Ashima Dyecot with an ultra-modern dye-house to process cotton fabrics and Ashima Spinfab to produce and export finished yarn dyed fabrics.

During the year 1999-2000, the captive power plant was fully commissioned and the Company has commissioned one more 3 MW power plant during the year.

In pursuit of its strategy to offer one-stop-shop to its international customers, the Company has created and deployed its first garment manufacturing facility. This facility has now commenced full- fledged commercial production and is set to begin despatching garments to leading international and domestic labels this week.