History of Mohan Spintex India Limited: Difference between revisions
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In August 2009 the company proposed a 40,000-spindle unit to its bankers, who approved it in October 2009;<ref name="tm2017" /> a foundation ceremony was held the same year.<ref name="a201">{{Cite archive |album=Bhoomi Puja, Unit 2, 2009 |album_id=201 |access-date=16 September 2026}}</ref> Advised that projects of ₹100 crore and above qualified for a two-year moratorium under the government's "mega project" scheme, the company enlarged the plan with [[Glossary of textile manufacturing terms#TFO|TFO]] twisting, [[wikipedia:Open-end spinning|open-end spinning]] and cotton [[wikipedia:Cotton gin|ginning]] sections, and secured approval under that scheme. Civil work began in February 2010.<ref name="tm2017" /> | In August 2009 the company proposed a 40,000-spindle unit to its bankers, who approved it in October 2009;<ref name="tm2017" /> a foundation ceremony was held the same year.<ref name="a201">{{Cite archive |album=Bhoomi Puja, Unit 2, 2009 |album_id=201 |access-date=16 September 2026}}</ref> Advised that projects of ₹100 crore and above qualified for a two-year moratorium under the government's "mega project" scheme, the company enlarged the plan with [[Glossary of textile manufacturing terms#TFO|TFO]] twisting, [[wikipedia:Open-end spinning|open-end spinning]] and cotton [[wikipedia:Cotton gin|ginning]] sections, and secured approval under that scheme. Civil work began in February 2010.<ref name="tm2017" /> | ||
By January 2012 [[Manufacturing units of Mohan Spintex#Unit 2, Remalle|Unit 2 at Remalle]] was ready, with 44,064 combed spindles, 4,576 open-end rotors, 1,920 TFO drums and 36 gins;<ref name="tm2017" /> it was inaugurated that year,<ref name="a223">{{Cite archive |album=Inauguration of Unit 2, 2012 |album_id=223 |access-date=16 September 2026}}</ref> and operations were stabilised during 2012–13.<ref name="tm2017" /> | CARE Ratings dates the start of commercial operations at Unit 2 to March 2011.<ref name="care2023">{{Ref care2023}}</ref> By January 2012 [[Manufacturing units of Mohan Spintex#Unit 2, Remalle|Unit 2 at Remalle]] was ready, with 44,064 combed spindles, 4,576 open-end rotors, 1,920 TFO drums and 36 gins;<ref name="tm2017" /> it was inaugurated that year,<ref name="a223">{{Cite archive |album=Inauguration of Unit 2, 2012 |album_id=223 |access-date=16 September 2026}}</ref> and operations were stabilised during 2012–13.<ref name="tm2017" /> | ||
=== Third project === | === Third project === | ||
In 2013 the company submitted a proposal for a further project to be built in two phases, of ₹181 crore and ₹95 crore. It was planned to include about 47,424 compact spindles, 156 looms, about 1,696 rotors, 2,880 TFO drums and an [[wikipedia:Uster Technologies|Uster]] testing laboratory.<ref name="tm2017" /> The foundation for Unit 3 was laid the same year.<ref name="a242">{{Cite archive |album=Bhoomi Puja, Unit 3, 2013 |album_id=242 |access-date=16 September 2026}}</ref> The looms marked the company's entry into weaving; Chowdary said that without reaching the finished product "your total system is not complete".<ref name="tm2017" /> | In 2013 the company submitted a proposal for a further project to be built in two phases, of ₹181 crore and ₹95 crore. It was planned to include about 47,424 compact spindles, 156 looms, about 1,696 rotors, 2,880 TFO drums and an [[wikipedia:Uster Technologies|Uster]] testing laboratory.<ref name="tm2017" /> The foundation for [[Manufacturing units of Mohan Spintex#Unit 3, Remalle|Unit 3]], also at Remalle, was laid the same year; its first phase (38,304 spindles and 90 air-jet looms) began commercial operations in April 2015 and its second (9,120 spindles, 1,696 rotors, 2,880 TFO drums and 66 air-jet looms) in October 2016.<ref name="care2023" /><ref name="a242">{{Cite archive |album=Bhoomi Puja, Unit 3, 2013 |album_id=242 |access-date=16 September 2026}}</ref> The looms marked the company's entry into weaving; Chowdary said that without reaching the finished product "your total system is not complete".<ref name="tm2017" /> | ||
In 2014 a machine inauguration ceremony was held for new spinning equipment.<ref name="a181">{{Cite archive |album=Spinning: Machine Inauguration Puja, 2014 |album_id=181 |access-date=16 September 2026}}</ref> | In 2014 a machine inauguration ceremony was held for new spinning equipment.<ref name="a181">{{Cite archive |album=Spinning: Machine Inauguration Puja, 2014 |album_id=181 |access-date=16 September 2026}}</ref> | ||
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== Integration and growth (2014–2022) == | == Integration and growth (2014–2022) == | ||
[[File:MSIL air-jet weaving hall.jpg|thumb|left|Air-jet weaving hall]] | [[File:MSIL air-jet weaving hall.jpg|thumb|left|Air-jet weaving hall]] | ||
Over this period MSIL extended from yarn into [[Weaving division|weaving]], [[Processing division|fabric processing]] and [[Home textiles division|finished home textiles]], completing its integration from fibre to finished product.<ref name="msilabout">{{Ref msilabout}}</ref> By early 2017 the company had grown to more than 125,000 spindles, over 6,000 rotors and over 125 air-jet looms, and employed about 2,800 people. It exported close to half of its output, to countries including [[wikipedia:Bangladesh|Bangladesh]], [[wikipedia:Pakistan|Pakistan]], [[wikipedia:China|China]] and Europe, and was planning a fabric processing unit and a move into home textiles.<ref name="tm2017" /><ref name="suessen2017" /> | Over this period MSIL extended from yarn into [[Weaving division|weaving]], [[Processing division|fabric processing]] and [[Home textiles division|finished home textiles]], completing its integration from fibre to finished product.<ref name="msilabout">{{Ref msilabout}}</ref> By early 2017 the company had grown to more than 125,000 spindles, over 6,000 rotors and over 125 air-jet looms, and employed about 2,800 people. It exported close to half of its output, to countries including [[wikipedia:Bangladesh|Bangladesh]], [[wikipedia:Pakistan|Pakistan]], [[wikipedia:China|China]] and Europe, and was planning a fabric processing unit and a move into home textiles.<ref name="tm2017" /><ref name="suessen2017" /> [[Manufacturing units of Mohan Spintex#Unit 4, Mallavalli|Unit 4 at Mallavalli]] was inaugurated in 2019, and its investment programme was completed in March 2020, adding fabric processing of 1,00,000 metres a day, raising weaving capacity to 90,000 metres a day and cut, make and trim capacity to 4,00,000 sets a month.<ref name="care2023" /> The home-textile brand [[Astara (brand)|Astara]] was launched in 2020.<ref name="astarafranchise">{{Ref astarafranchise}}</ref><ref name="a144">{{Cite archive |album=Mallavalli Inauguration, 2019 |album_id=144 |access-date=16 September 2026}}</ref> | ||
The company invested ₹400 [[wikipedia:Crore|crore]] between 2018 and 2020 and reported sales above ₹1,000 crore for the 2021–22 financial year, 80% domestic and 20% exported.<ref name="tm2022">{{Ref tm2022}}</ref> In 2022 a solar power project was inaugurated at Unit 2,<ref name="a249">{{Cite archive |album=Solar Power Project Inauguration, Unit 2, 2022 |album_id=249 |access-date=16 September 2026}}</ref> and the company hosted an audit by [[wikipedia:IKEA|IKEA]] and a plant visit from the Italian linen maker [[wikipedia:Frette|Frette]].<ref name="a135">{{Cite archive |album=IKEA Audit, 2022 |album_id=135 |access-date=16 September 2026}}</ref><ref name="a228">{{Cite archive |album=Plant Visit: Frette, Italy, 2022 |album_id=228 |access-date=16 September 2026}}</ref> | The company invested ₹400 [[wikipedia:Crore|crore]] between 2018 and 2020 and reported sales above ₹1,000 crore for the 2021–22 financial year, 80% domestic and 20% exported.<ref name="tm2022">{{Ref tm2022}}</ref> Revenue rose 58% to ₹1,072.81 crore in 2021–22, and the company set a target of ₹2,000 crore by 2025 with a planned stock-market listing.<ref name="care2023" /><ref name="tm2022jan">{{Ref tm2022jan}}</ref> In 2022 a 10.8 MW rooftop solar plant began generating power at Remalle in July<ref name="infomerics2024">{{Ref infomerics2024}}</ref> and a solar power project was inaugurated at Unit 2,<ref name="a249">{{Cite archive |album=Solar Power Project Inauguration, Unit 2, 2022 |album_id=249 |access-date=16 September 2026}}</ref> and the company hosted an audit by [[wikipedia:IKEA|IKEA]] and a plant visit from the Italian linen maker [[wikipedia:Frette|Frette]].<ref name="a135">{{Cite archive |album=IKEA Audit, 2022 |album_id=135 |access-date=16 September 2026}}</ref><ref name="a228">{{Cite archive |album=Plant Visit: Frette, Italy, 2022 |album_id=228 |access-date=16 September 2026}}</ref> | ||
{{clear}} | {{clear}} | ||
== Recent developments (2023–present) == | == Recent developments (2023–present) == | ||
[[File:LEAD Programme 2026 participants.jpg|thumb|right|Participants in the LEAD leadership programme, April 2026]] | [[File:LEAD Programme 2026 participants.jpg|thumb|right|Participants in the LEAD leadership programme, April 2026]] | ||
In 2023 an IKEA team visited the company's facilities.<ref name="a134">{{Cite archive |album=IKEA Team Visit, 2023 |album_id=134 |access-date=16 September 2026}}</ref> In 2025 the company opened Mohan's Sri Vijnana Vihara School,<ref name="a216">{{Cite archive |album=Mohan's Sri Vijnana Vihara School: Opening Ceremony, 2025 |album_id=216 |access-date=16 September 2026}}</ref> and in September 2025 founder V. Sudhakar Chowdary was elected Chairman of [[wikipedia:Krishak Bharati Cooperative|KRIBHCO]].<ref name="ruralvoice">{{Ref ruralvoice}}</ref> | In 2023 an IKEA team visited the company's facilities. Revenue fell to ₹905.30 crore in 2023–24, while profit after tax rose to ₹40.93 crore.<ref name="care2025">{{Ref care2025}}</ref><ref name="a134">{{Cite archive |album=IKEA Team Visit, 2023 |album_id=134 |access-date=16 September 2026}}</ref> In 2025 the company opened Mohan's Sri Vijnana Vihara School,<ref name="a216">{{Cite archive |album=Mohan's Sri Vijnana Vihara School: Opening Ceremony, 2025 |album_id=216 |access-date=16 September 2026}}</ref> and in September 2025 founder V. Sudhakar Chowdary was elected Chairman of [[wikipedia:Krishak Bharati Cooperative|KRIBHCO]].<ref name="ruralvoice">{{Ref ruralvoice}}</ref> | ||
In 2026 a foundation ceremony was held for a new corporate office;<ref name="a256">{{Cite archive |album=MSIL Corporate Office Bhoomi Puja, 2026 |album_id=256 |access-date=16 September 2026}}</ref> the company ran its LEAD (Leadership Excellence & Development) programme;<ref name="a257">{{Cite archive |album=LEAD Program 2026 – Leadership Excellence & Development |album_id=257 |access-date=16 September 2026}}</ref> and Union Textiles Minister [[wikipedia:Giriraj Singh|Giriraj Singh]] visited the Mallavalli unit.<ref name="a281">{{Cite archive |album=Union Textiles Minister Shri Giriraj Singh Visit to Mallavalli Unit, 2026 |album_id=281 |access-date=16 September 2026}}</ref> That January ''The Textile Magazine'' profiled the company in its [[wikipedia:Heimtextil|Heimtextil]] 2026 special edition, reporting a workforce of over 5,500 and the involvement of the founder's children, Suhruth and Keyura, as the next generation of leadership.<ref name="tmlegacy">{{Ref tmlegacy}}</ref> | In 2026 a foundation ceremony was held for a new corporate office;<ref name="a256">{{Cite archive |album=MSIL Corporate Office Bhoomi Puja, 2026 |album_id=256 |access-date=16 September 2026}}</ref> the company ran its LEAD (Leadership Excellence & Development) programme;<ref name="a257">{{Cite archive |album=LEAD Program 2026 – Leadership Excellence & Development |album_id=257 |access-date=16 September 2026}}</ref> and Union Textiles Minister [[wikipedia:Giriraj Singh|Giriraj Singh]] visited the Mallavalli unit.<ref name="a281">{{Cite archive |album=Union Textiles Minister Shri Giriraj Singh Visit to Mallavalli Unit, 2026 |album_id=281 |access-date=16 September 2026}}</ref> That January ''The Textile Magazine'' profiled the company in its [[wikipedia:Heimtextil|Heimtextil]] 2026 special edition, reporting a workforce of over 5,500 and the involvement of the founder's children, V. Suhruth Chowdary and Keyura, as the next generation of leadership.<ref name="tmlegacy">{{Ref tmlegacy}}</ref> | ||
{{clear}} | {{clear}} | ||
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| 2010 || Civil work begins on Unit 2 (February) | | 2010 || Civil work begins on Unit 2 (February) | ||
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| 2011 || Unit 2 begins commercial operations (March) | |||
|- | |- | ||
| 2012 || Unit 2, Remalle, ready (January) and inaugurated, with 44,064 spindles, 4,576 rotors, 1,920 TFO drums and 36 gins | | 2012 || Unit 2, Remalle, ready (January) and inaugurated, with 44,064 spindles, 4,576 rotors, 1,920 TFO drums and 36 gins | ||
|- | |- | ||
| 2013 || Two-phase project of ₹181 crore and ₹95 crore proposed, including the first looms; foundation laid for Unit 3 | | 2013 || Two-phase project of ₹181 crore and ₹95 crore proposed, including the first looms; foundation laid for Unit 3 | ||
|- | |||
| 2015 || Unit 3, Remalle, phase 1 begins commercial operations, with the first air-jet looms (April) | |||
|- | |||
| 2016 || Unit 3 phase 2 begins commercial operations (October) | |||
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| 2017 || Over 125,000 spindles and 125 air-jet looms; about 2,800 employees; cover story in ''The Textile Magazine'' | | 2017 || Over 125,000 spindles and 125 air-jet looms; about 2,800 employees; cover story in ''The Textile Magazine'' | ||
|- | |- | ||
| 2019 || Mallavalli | | 2019 || Unit 4, Mallavalli, inaugurated | ||
|- | |||
| 2020 || Unit 4 investment complete, adding processing and expanded cut, make and trim (March); Astara brand launched | |||
|- | |- | ||
| 2022 || Solar power project inaugurated at Unit 2; sales above ₹1,000 crore (FY 2021–22) | | 2022 || Solar power project inaugurated at Unit 2; sales above ₹1,000 crore (FY 2021–22) | ||
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[[Category:Mohan Spintex India Limited]] | [[Category:Mohan Spintex India Limited]] | ||
[[Category:History of Mohan Spintex India Limited]] | [[Category:History of Mohan Spintex India Limited]] | ||
[[te:మోహన్ స్పింటెక్స్ చరిత్ర]] | |||