Supertex Industries gets contract from Century Enka Ltd

Supertex Industries Ltd has announced that the Company has earned a very valuable contract from Century Enka Ltd for processing Nylon Filament Yarn. Century Enka is the market leader in manufacture of nylon in India and its brand is internationally acknowledged. This is a long term contract under which the Company shall produce the yarn as per the specifications of the said brand.

Earlier, the Company had perfected the processing of nylon filament yarn to International standards. For this purpose the Company has modified some of its existing facilities and introduced certain procedures and equipment to ensure the strict quality norms. This has diversified the Company's activity from processing polyester and brought it in league with the few nylon manufacturers of the country.

The confidence of the Revival Committee, set up for the purpose of rehabilitation of the Company, has been boosted as their targeted goals are being achieved. The management considers this as one of the important achievement that will help in paving the way for the Company's turnaround. The Company will become debt free by its ongoing payments to the banks under OTS. It will greatly benefit in terms of book profit due to the same and this development will further stimulate the Company's revival plans. The Company is actively considering other value additions on its products and the management is hopeful of a better future for the Company.

Source : Equity Bulls

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