Yarn Syndicate Ltd

Yarn Syndicate Limited, a government-recognised Trading House, was incorporated in May '46 as a Public Limited Company. It belongs to the Patodia-YSL group. The Company engaged in trading and export of cotton yarn, had commenced its business operations as dealers in all types of YARN soon thereafter. The Company became one of the pioneers to export all types of yarn, viz. cotton yarn, polyester cotton yarn, polyester viscose yarn, flax yarn, jute yarn, bamboo yarn, organic yarn etc. from India and in the more than four decades since, has become one of the leading exporters of cotton and other varieties of yarn in the country. In 1994, it set up manufacturing facilities for knitted fabrics and dyed yarn in order to cater to the international buyers with a committed delivery of quality products at competitive price range. The unit was set up at Mudalipalayam (Periyar district), Tamilnadu. The company came out with a public issue in Mar.'94 to part-finance the project. Commercial production of the knitting unit commenced production in 1994-95. The yarn dyeing unit could not be set up by the company due to agitation in the area of Bhawani River Industrial Belt by the local people along with negative attitude of the authorities towards such projects. During 1997-98, the company achieved an export turnover of Rs 80.31 cr. The company was awarded a 'Gold Trophy' for higest exports and 'Bronze Trophy' for export of Cotton Yarn to Non Quota Countries by TEXPROCIL for export during 1996-97. YS Exports Limited, which was subsidiary of Company ceased to be a subsidiary of the Company during 2001-02. The Company had set up a Home Textiles Unit in Gujarat and commercial production started on 1st September 2006. As it became a drain on the Company's resources, the Home Textiles unit was disposed off by way of outright sale of machineries, equipments and installations on 01-01-2008. As on November 17, 2022, the Acquirer (i.e. Mr. Ravi Niranjan Pandya) got into the Share Purchase Agreement with the Selling Shareholder (i.e. Ms. Sheela Patodia), for the acquisition of 13,13,546 Equity Shares representing 35.03% of the Paid Up and Voting Equity Share Capital of Target Company i.e. Yarn Syndicate Limited along with the acquisition of control over the Company and thereafter, the said Company was acquired.