Varvee Global Ltd Share Price Textiles
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Incorporated in Mar.'88 as a private limited company, Aarvee Denims & Exports (formerly Amtex India) was converted into a public limited company in Apr.'92. The company has its plant at Narol, Ahmedabad. Promoters are Arora group and V B Shah group. The company is engaged in yarn dyeing with a capacity of 21.60 lac mtr pa and weaving with a capacity of 7.02 lac mtr pa. Company also manufactures indigo denim fabrics. The company made a public issue in Nov.'92 to finance its expansion programme to expand both yarn dyeing and weaving capacity to 81.60 lac mtr pa and 41.68 lac mtr pa respectively and to manufacture quality denim fabrics. Commercial production of the expanded capacity commenced in 1992-93. In 1994-95, the company, as a diversification measure, implemented a project to set up an open end spinning unit for the in-house requirement of yarn.Pee Vee Synthetics is a subsidiary of the company, through which exports are done. During the year 1997-98 ,the company has added 24 Nos High Speed Tsudakoma Airjet looms to match the increased dyeing sizing capacity. Expansion in spinning capacity from 5441 TPA to 7441 TPA was also undertaken. The company has installed additional looms during the year 2000-2001 and by increasing the installated capacities the production has gone up by about 35 to 40%.