E-Land Apparel Ltd Company Summary

E-Land Apparel Ltd Summary

E-Land Apparel Limited was formerly incorporated as Bombay Fine Fabrics Private Limited on March 31, 1997. Subsequently, name of the Company got changed to Mudra Textiles Private Limited w.e.f. October 10, 2001. On December 1, 2005 the Company was converted into a Public Limited Company and the name of the Company was changed to Mudra Lifestyle Limited w.e.f. December 2, 2005 and again from Mudra Lifestyle Limited to E-Land Apparel Limited effective on 2nd February, 2015. Mudra Group was promoted the company. In October 2004, The company was consolidate business of the Group, East Coast Polytex, a Partnership Firm in the Group engaged in the business of weaving and two other Partnership Firms viz Mudra Exports (India) and Mudra Impex engaged in the business of Garmenting were taken over by MLL. Further w.e.f April 01, 2005 Picanova Fabrics Private Limited, Mudra Synthetics Private Limited and Venus Processors Private Limited were amalgamated with MLL.The company has engaged in fabric weaving, processing and making garments. The brand MUDRA has built a strong goodwill for itself in the domestic market and commands a premium. The company has gradually moving towards garment manufacturing mainly in the designer shirts and ladys wear segments.At present The company have 177 automatic looms producing approximately 10.62 million meters of woven fabric per annum and 700 sewing machines with production capacity of 3.15 million garments per annum. The company is having manufacturing facilities of around 165,888 square feet, are spread across five locations at Bhiwandi (Kalher and Sonale) in Thane district, Bangalore, Daman and Navi Mumbai.During the Year 2006-07, the Company completed its Initial Public Offer of 95,80,000 Equity Shares of Rs. 10/- each at premium of Rs. 80/- aggregating to Rs. 86.22 Crores, resulting this, the Equity Shares of the Company got listed with effect from 9th March, 2007 on the stock exchanges respectively.Phase I of said Mega expansion project commenced in March, 2009. Civil work for Phase II also started in March, 2009. The Company implemented weaving and yarn dyeing project of Phase II Mega Expansion Project in 2010.In 2013-14, the Company transferred its Unit D-1 of Fabric Business located at Tarapur on a going concern basis by way of slump sale to E-Land Fashion India Pvt. Ltd., wholly owned subsidiary of the holding company viz. E-Land Asia Holding Pte Ltd. for cash consideration of Rs 46.49.