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Textool Company Limited
Sector:Engineering Engineering - Textile Machinery
BSE:22116NSE:TEXTOOLBloomberg:TXT@INReuters:TEXT.BO
Market Lot: 1Face Value: 10ISIN Demat: INE677A01017
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Textool Company was incorporated in 1946. The company is promoted and managed by Lashmi group (G.V.Naidu). The main Business Profile of Textool Company is yarn manufacturing and textile machinery.The company`s plants are located in Tamilnadu and Kerala. Around 40 per cent of the raw material consumption is imported. Exports account for around 10 per cent of the total turnover.

The company is planning to sell two of its operating divisions, cots and aprons-powder plant and yarn processing, which it had acquired through a merger with a group company during 1998

Textool has now decided that it should concentrate on its core business of textile machinery making and spinning only. Its present efforts are to make it a debt-free company within a couple of years and hence the decision to sell these units.

The two divisions formed part of the erstwhile Coimbatore Cots and Coatings Ltd (CCCL), a loss making LMW group company which was merged with Textool in 1997 on the ground it would synergise with Textool`s manufacturing activity. The merger was effected through a share-swap of 1:6 (one Textool share for every six CCCL shares held).
In Brief

 
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