Asi Industries Ltd

ASI Industries Limited, formerly known Associated Stone Industries (Kotah) Limited was promoted by The Jatias of Rajasthan. The Company was incorporated in January, 1945. The name of the Company was changed from Associated Stone Industries (Kotah) Limited to ASI Industries Limited, on February 16, 2018. At present, it is engaged in the mining and processing of Natural Stones. ASIL commissioned its on-line processing and polishing unit at Silvassa without any slippage or cost overrun. It diversified into marble products and is carrying out a geological survey at Kakroli near Udaipur and had set up a plant there. In Apr.'95, Prerna Syntex (PSL), a 100% EOU, was amalgamated with the company, to enable it to diversify into textiles. During 1997-98, Prerna Syntex Plant, 100% EoU located at Neemrana has succesfully installed the capacity of 24960 Spindles to produce 4673 tonnes of Cotton combed hoisery yarn per annum, it has commenced its production from 15th Jan.'97. During the financial year 1999-2000, the company received the approval of Government of India for NRI investment by way of equity shares. In 2014-15, the Company had an overseas wholly owned subsidiary in the name of ASI Global Limited, Mauritius which was set up in the year 2014 to acquire lime stone mine/crusher Company viz: Al Rawasi Rock & Aggregate LLC in Fujairah UAE. The Scheme of Arrangement for Demerger of the Spinning Unit of the Company became effective on February 21, 2007. It sold Wind Power Unit of 1.125 MW at Tirupur District of Tamil Nadu in November, 2015. In 2022-23, the Company sold/ transferred its entire shareholding of the Company, together with its Wholly Owned Subsidiary, ASI Global Limited, held in Al Rawasi Rocks & Aggregate LLC, Fujairah, UAE; it further sold Wind Power Units, at Beldhadi Village, Hubli, Karnataka and Rameshwar Village, Dist-Satara, Maharashtra, due to change of wind pattern and increasing maintenance and other costs which adversely affected the profitability.