Paras Petrofils was incorporated on March 20, 1991 as a public limited company with the Registrar of Companies, Gujarat. The company is promoted by late Devraj Jain, Kailash Chand Jain, late Raghubir Singh Jain, Anand Kumar Jain, Ashok Kumar Jain, Des Raj Jain and Vinod Kumar Bansal of Paras Group.
The promoters of the company have a long experience of two to three decades in trading of the gray fabrics and processing of the cloths at dyeing and printing mills of their own or getting job work outside and also as commission agents in this trade at Surat.
Initially, company was engaged in trading activity up to March 31, 1994. After that promoters of the company, decided to set up the manufacturing plant for POY, a step towards backward integration. In the year 1995 the company came up with a public issue of Rs 1725.71 lakh, to set up the POY project with a cost of Rs 2850.71 lakh having a capacity of 5740 TPA. This public offer was been fully subscribed. In March 1998 the company came up with its forward integration project of establishing a texturising plant at a cost of Rs 552.70 lakh (with capacity of 3080 TPA).
In the year 2002, the company undertook expansion envisaging addition of 3325 TPA of Fully Drawn Yarn (FDY) to the existing capacity. The company is the pioneer in Fully Drawn Production (FDY) production in India. FDY have improved both, the top and bottomline of the company significantly as FDY is a more value added product.
Further in 2003, the company increased its POY capacity by 16935 TPA. In the year 2004, the company installed a gas-based captive power plant to reduce its power cost. Located in the Surat district of Gujarat, the manufacturing unit has a capacity to manufacture 22,675 MTPA partially oriented yarn, 3,725 MTPA fancy doubler yarn, and 3,080 MTPA texturized yarn. The company has installed a 2 MW natural gas-based captive power plant imported from Austria.
Business areas of the company:
The company is engaged in the manufacture of polyester filament yarn products. It was promoted by the Paras Group, which is engaged in the business of synthetic fabrics like sarees and dress materials and also in texturizing of yarn.
• Paras Prints • Paras Silk Mills • Vir Silk Mills.