Marvel Industries Ltd. कंपनी का इतिहास और वार्षिक वृद्धि विवरण

Marvel Industries Limited (MIL) was incorporated on February 5, 1992 as a public limited company and it was issued certificate of commencement of business on April 23, 1992 from the Registrar of Companies, Mumbai, Maharashtra.

The company is presently engaged in the manufacture of HDPE/PP woven sacks of a total capacity of 2880 tpa at MIDC, Malegaon Industrial Estate, Sinnar, District Nashik, Maharashtra.

The company started the manufacture of HDPE/PP woven sacks in May, 1993 with a capacity of 1020 tpa. The project of the company was part financed by a public issue of Rs. 33.60 lacs, promoters contribution of Rs. 123 lacs, rupee term loan of Rs. 225 lacs from SICOM/ICICI and state
subsidy of Rs. 30 lacs. The company later expanded its capacity to 2880 tpa in September, 1994. The expansion was part financed by a rights issue of Rs. 156.60 lacs at par, term loan from ICICI/SICOM of Rs. 450 lacs and bridge loan from SICOM of Rs. 18.75 lacs.

During the year 1993-94, the company produced 903 MTs of Polypropylene (PP) woven sacks (including 442 MTs of job work) indicating almost full capacity utilisation. During 1994-95, the company produced 1641 MTs of woven sacks (including 37 MTs of jobwork) indicating a capacity
utilisation of 82.05%.

For the eleven month period ended February 29, 1996 the company manufactured 2352 MTs of woven sacks indicating a capacity utilisation of 89.09%.

The total cost of the proposed project was earlier estimated at Rs.2900 lacs. However, there was a cost overrun of Rs. 73.57 lacs in the expansion project which increased the total project cost to Rs.2973.57 lacs. The capital cost of expansion project was estimated at Rs. 644 lacs, which was increased to Rs. 717.57 lacs and of diversification project is Rs. 1326 lacs. The commercial production of the expansion project was delayed by three months and it started in March, 1996. Industrial Credit & Investment Corporation of India (ICICI) has sanctioned a term loan of Rs. 750 lacs and SICOM has given a sanction of Rs. 350 lacs for the proposed project.

2008
-Company has created email id for Grievance Redressal Division / Compliance Officer of the Company is [email protected].

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