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Sky Industries Limited
Sector:Others Others - Miscella - Others
BSE:526479NSE:NABloomberg:SKY@INReuters:SKYI.BO
Market Lot: 1Face Value: 10ISIN Demat: INE765B01018
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23-May-2014
Business Profile
Sky Industries (SKYIND) is a manufacturer of hook and loop tape fasteners. Incorporated as a private limited company on Jul. 18, 1989, it was converted into a public limited company on Mar. 17, 1993. Earlier known as Fine Velvets and Plastofabs, it acquired its present name on May 20, 1993. The company is part of the S.K. group of companies, which has business interests in indenting, sale of machines, and global trade. Other group companies include S.K. Exports, and S.K. Overseas.

The ISO 9002 certified company manufactures hook and loop tape fasteners, webbing, knitted elastics, satin and checks ribbons, woven elastics, rat tail chords and braided products. A leader in the premium category of hook and loop tape fasteners, it caters to over 70% of domestic demand. The manufacturing units are located at New Mumbai in Maharashtra and in the SEZ of Sachin near Surat in Gujarat with installed capacities of 92.4 million meters per annum hook and loop tape fasteners and 202.9 million meters of elastic tape.

A recipient of the Golden Trophy from the Government of India for highest exports from India, the company serves top manufacturers in over 38 different industrial sectors with its wide range of products. Major export destinations include USA, Canada, Latin American countries, and EU nations among many others across the globe. It signed an agreement with Dyno Merchandise of USA in August 2007 for supply of narrow fabric products for a period of three years. Skay Inc. is a wholly owned subsidiary in USA, which looks after international marketing.

The registered office is located at 24 Kurla-Kirol Road, P.B. No. 9208, Ghatkopar (W), Mumbai-400086.


Financials
The company disclosed fall of 111.76% in standalone net profit on y-o-y basis to Rs 0.40 million, while total income dropped 21.17% y-o-y basis to Rs 143.40 million for the quarter ended March 2014.

In Brief

 
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