Prashant India Ltd

Prashant India Limited was initially incorporated as 'Prashant Proteins Limited' in November, 1983. The name of the Company was changed from 'Prashant Proteins Limited' to 'Prashant India Limited' in 1995. Company is presently engaged in Textiles and Wind Power Generation business. In Mar.'84, PIL took over a sick and shut-down unit from Ulhas Oil and Chemical Industries located at Bhavnagar and turned it around in the first year of operations. To finance the expansion-and-modernization scheme, PIL came out with a public issue in Nov.'85. Between 1986 and 1988, when Gujarat was in the grip of a severe drought, the company not only survived but even managed to perform well. In Dec.'93, the company came out with a rights offer to finance its additional working capital requirements and to expand its infrastructure facilities for the international merchandise division. The company has completed the project to manufacture polyester fabrics and polyester texturized, sized and twisted yarn at Palsana, Surat, as a part of its diversification and backward integration project. The company commissioned and made operational five wind generators each having a capacity of 200 KW. In 1994-95, the company exported goods to the tune of Rs 31.12 cr. Being the second-largest exporter of rapeseed deoiled cakes from India, it received the Export Award from the Solvent Extractors Association of India for 1994-95. Due to increase in competition and recession in textile sector revenue from operations declined sharply during the financial year 2023-24. The BIFR has restored the company's reference in conformity with the order passed by the Hon'ble High Court of Gujarat for fresh hearing under the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985.