Polygenta Technologies Ltd - Stock Valuation and Financial Performance

Polygenta Technologies incorporated 1981, is an integrated producer and processor of multi-filament polyester textured yarn.From a modest beginning as a texturizing company Polygenta took a bold step to adopt a new way for polyester production applying a novel technology and proceeded to set up a polyester manufacturing plant in nashik, India.

The company adds value to the supply chain and supports its customers with products through the development and innovation of branded yarns that provide unique performance, comfort and aesthetic advantages.

After the approval by its Board of Directors, the Company has submitted its Draft Rehabilitation Scheme (DRS), supported by Strategic Alliance partners and secured lenders, with its Operating Agency (IFCI) and Board for Industrial and Financial Restructure (BIFR). This draft requested that the BIFR approve a Share Capital restructuring and grant various exemptions to the company from complying with various provisions laid down under Company law, SEBI Guidelines/ Rules/ Regulations/ Listing Agreements, other compliances etc. Obtaining the BIFR's order was very important for proceeding with revival of the Nashik PET Manufacturing Plant. 

Once the PET Chip Nasik Project is restarted the Company intends to operate competitively in the polyester textile sector, with the capacity to manufacture POY and texturised yarn. When and where possible, the Company will concentrate its resources on segments in which it believes it will be able to sustain a differential advantage. Though market conditions can change, certain higher denier yarns (e.g. serving the homefurnishings, industrial, and luggage manufacturers) currently appear to be promising segments to enter. Nevertheless, in these segments and the polyester fibre market as a whole, the Company will be subject to threats from new entrants, strengthened competitors emerging from the ongoing consolidation in the Indian textile market, and continued exposure to imports and inter-fibre substitution.

Company’s units are located at Murbad and Nashik in Maharashtra. Its Nashik plant has an initial capacity to produce 30,000 MTs per annum of polyester filament yarn and also manufactures polyester (pet) chips.

ReNEW, its innovative process, dramatically enhances economic and environ mental benefits and is the most significant development in polyester production in the last two decades. The plant is being constructed with state-of-the-art, two-reactor technology, is highly energy efficient and delivers exceptional quality products.

Company product ranges address standard applications as well as underserved specialty markets for niche applications in both domestic and international markets.Its products are used for Home Furnishing, High Fashion, Denim and Floor Coverings

The company is engaged into manufacturing of:

Textile Grade Chips

POY

DTY