K-Lifestyle & Industries Ltd Company Summary

K-Lifestyle & Industries Ltd Summary

K-Lifestyle & Industries Ltd. (Formerly incorporated as Krishna Lifestyle Technologies Limited), a part of the Shree Krishna Group, was promoted by R P Tayal in 1958. Incorporated as a private limited company in Aug.87, the Company went public in Dec.92 with a public issue at a premium of Rs 40. It started as a twisting unit in 1989 at Silvassa, integrated backward into texturising at the same plant, and diversified into knitting of grey fabric at Dombivili and New Bombay. The Company is engaged in the business of Manufacturing of Textile Goods, In Jun.94, KLTL went public to part-finance the setting up of a spinning mill for the manufacture of cotton yarn with an installed capacity of 50,000 spindles and 480 rotors at Silvassa as backward integration and for the setting up of processing facilities for cotton knitted fabric with an installed capacity of 12,000 tpa at New Bombay, with finishing facilities at Silvassa as forward integration. The company increased the installed capacity of Spinning Division by 6000 TPA, and Speciality Knitting Fabric Division by 9000 TPA. KLTL also set up Garments Export Division in Maharastra with an installed capacity of 3000000 Pieces. It is now expanding the installed capacity of all divisions to 25000 tpa with an estimated cost of Rs 750 Crs.The proposal for merger of the company and Shree Krishna Petro Yarns with Krishna Texport Industries was approved by the equity shareholders and unsecured creditors at the court-convened meetings held in Dec.1998. Subsequent to the merger, the company changed its name to Krishna Lifestyle Technologies Ltd.In 1999-2000, the Company promoted a software company, Global Softech Limited, in which it holds 49% of the Paid-up Equity share capital.The name of the Company was changed from M/s. Krishna Lifestyle Technologies Limited to K-Lifestyle & Industries Limited effective October 1, 2010.