Banswara Syntex Limited Investor Update June 2011 BSE Code: 503722 NSE Code: BANSWRAS Bloomberg Code: BSWL IN Reuters Code: BANS. BO
KEY HIGHLIGHTS OF 2010 -11 § Total Income increased by 28. 13% § Net Worth Rs. 160 Cr. § EBIDTA increased by 29. 79% § Net Worth and DTL Rs. 190 Cr. § PAT more than 1. 52 times. § Book Value of Shares Rs. 108. 37 per share § Basic EPS Rs. 32. 05 § Dividend 50% § 20% Interim in Nov-10 § 30% Final in FY 2011
COMPANY HIGHLIGHTS 32, 000 Tones Yarn Production 400 Lac Mtr Wooven Fabric A Complete composite mill untill fabric production at single location so advantage of lead time Export Culture with over 65% Export Sales WE ARE “LYCRA ASSURED and Accredited” Company based on pillars of trust, innovation, service and reliability Design Studio for Fabric and Garment 5 Million Meters/Month Finishing World Class Yarn & Fabric Testing Lab 3 Lac Pcs/Month Garments 30/33 MW Power Plant www. banswarasyntex. com Laboratory accredited by M & S and world leading brand “AATCC” Capable and Experienced Team European Quality available in India due to Joint venture with Carreman of France Production Facility for technical fabrics including jacquard fabrics Recently launched fashion brand i. e Saint X for both formal and casual wear – fabric and garments. BANSWARA SYNTEX LIMITED
SAFE HARBOR This presentation outlines the business model of Banswara Syntex Limited and its future growth strategy. It is for reference of the intended recipient only and any unauthorized sharing of the same is prohibited. This document does not constitute an offer or invitation to offer for purchase / sale of any securities. The document may contain certain “Forward Looking Statements”, which the Management believes to be true in terms of the present organizational strategy. There is no warranty, implied or otherwise that the information is accurate or otherwise complete and neither the company nor its Management shall be held responsible for any act or omission on the part of the recipient of this document. www. banswarasyntex. com BANSWARA SYNTEX LIMITED
AGENDA § About Us 1 § Business Process 4 § Our Plants 5 § Our Customers 11 § Shareholding Pattern as on March 31, 2011 14 § Dividend and Bonus History 15 § Historical Product-Wise / Market-Wise Revenues 16 § Historical Financial Performance 18 § BSL’ Share Price v/s BSE Sensex 19 § Awards and Achievements 20 § Investment Rationale 21 § Status of the Project Undertaken 22 § Major Milestones 23 § Corporate Social Endeavors 26 § Contacts 27 www. banswarasyntex. com Agen da BANSWARA SYNTEX LIMITED
ABOUT US Banswara Syntex Ltd. (BSL) was incorporated in the year 1976 as a joint sector company with RIICO Ltd. (A Govt. of Rajasthan Undertaking) and Mr. R. L. Toshniwal. In 1982, Mr. Toshniwal purchased the shares from RIICO. Currently, BSL is a Public Limited Company and the promoters holding 53. 53% of Equity Share Capital. Initially it was a spinning mill with 12, 500 spindles. BSL has been on an ongoing roadmap of expansion, diversification and modernization plans. Over the last 3 decades, BSL has increased the Spinning capacity to 1, 44, 452 spindles commenced production of Fabric from 1993, Readymade Garments from 2004, Made-ups and Worsted Spinning from 2008. BSL has also entered into a 50: 50 JV with Carreman Michel Thierry Group (CMTG) of France. BSL is a Government recognized Trading House and has won the Highest Export Performance award from SRTEPC for the last 8 years in a row. The Company also owns state awards for “Export Excellence” for export made in last 3 Years from 2005 -06 to 2007 -08. BSL is one of the LARGEST vertically integrated textile player www. banswarasyntex. com 1 BANSWARA SYNTEX LIMITED
About Us KEY MANAGERIAL PERSONNELS Mr. R L Toshniwal – Chairman & Managing Director He holds a Masters degree in Textiles from Leeds University, UK and has a vast experience of 48 years in the field of Textile Industry. Besides Banswara, he is on the board of five other companies and also holds the office of Chairman of the Synthetic & Rayon Textile Export Promotion Council (SRTEPC). Mr. Ravi Toshniwal – Joint Managing Director He holds a B. Tech (Chem. ) from IIT, Mumbai and has also undergone OPM Course of Harvard University, USA. He has 19 years of experience in Textile Industry and is responsible for the overall activities of the company. Mr. Rakesh Mehra – Whole Time Director He is a Chartered Accountant by qualification and has 23 years of experience in Textile Industry. He is responsible for the entire commercial and financial activities besides export sales of yarn. Mr. Shaleen Toshniwal – Whole Time Director He holds a Bachelors degree in Business Management from Bentley College, USA and has over 8 years of experience in the field of Textile Industry. He is responsible for the readymade garment units of the company at Daman and Surat. www. banswarasyntex. com 2 BANSWARA SYNTEX LIMITED
About Us BOARD OF DIRECTORS Banswara Syntex Limited has 13 Directors including 4 managing & whole time directors, 1 nominee director appointed by EXIM Bank and other 8 directors who are independent professional directors on the Board. Independent Directors are: 1. Mr. Kamal Kishore Kacholia - Industrialist 2. Mr. Parduman Kumar - (Rtd) Chief GM IDBI 3. Mr. Vijay Mehta - Renowned Financial Consultant 4. Mr. Vijay Kumar Agarwal - Industrialist 5. Mr. A N Jariwala - Industrialist 6. Mr. D P Garg - Industrialist 7. Mr. S B Agarwal - Consultant Ex -Group Executive President (Textile) of Grasim 8. -(Retd. ) I. A. S. , Nominee Exim Bank, Ex. Secretary to (nominee director) 9. Dr. R. Swaminthan Asian Development Bank, Manila Philippines, CA Pradeep Bhandari - Ex. C. E. O. Raymonds and at present Director of Raymonds, Industrial and Financial Consultant www. banswarasyntex. com 3 BANSWARA SYNTEX LIMITED
BUSINESS PROCESS Spinning Weaving & Processing Garmenting Filament Yarn (Rayon / Polyester) 1. VSF 2. PSF 3. ASF 4. Cotton 5. Lycra 6. Linen 7. Wool SPUN YARN Internal Sales Domestic Sales Weaving Including Technical Fabric Garments /Made Ups SPINNING External Sales Processing & Finishing External Sales P. Fabric / T. Fabric / Fabric 4 Internal Sales P. Fabric / Fabric P. Fabric – Performance Fabric T. Fabric – Technical Fabric Export Sales
Our Plants Location Spinning Weaving & Processing Garments Banswara Daman & Surat Ring Spindles – 1, 29, 316 Shuttle-less Looms – 254 Worsted Yarn Spindles – 14, 400 Jacquard Looms – 20 Air Jet Spindles - 736 Fabric – Processing Capacity – 5 Million Meters / Month www. banswarasyntex. com 5 Jacquard made-ups – 12, 500 pcs / month Readymade Trousers – 2, 70, 000 pcs / month Readymade Jackets – 22, 500 pcs / month BANSWARA SYNTEX LIMITED
OUR PLANTS Installed Capacity PRODUCT UNIT Spinning BSL 70, 036 Spindles BFL 59, 280 Spindles AIRJET 736 Spindles WORSTED 14, 400 Spindles TOSHCO 130 Looms BJF 107 Looms JAQUARD 20 Looms CARREMAN - JV 77 Looms Fabric Processing BTM 5 Million Mtr* Garments DAMAN 1, 50, 000 Trousers* DAMAN 7, 500 Jackets* SURAT 1, 20, 000 Trousers* SURAT 15, 000 Jackets* Thermal 30/36 MW Furnace Oil 9. 07 MW Fiber & Yarn 1, 200 MT* Weaving Power Plant Dyeing** CAPACITY *(Per Month) ** Includes 150 MT for wool dying, 150 MT for yarn dying and 900 MT for fibre dying. www. banswarasyntex. com 6 BANSWARA SYNTEX LIMITED
OUR PLANTS Installed Capacity Spinning BSL is a vertically integrated textile player engaged in manufacturing of man-made synthetic blended yarn, wool and wool mixed yarn, all type of suiting and jacquard furnishing and technical fabrics besides production of trousers, jackets and made-ups. BSL specializes in producing blends of viscose staple fibre, polyester staple fibre, acrylic staple fibre, lycra, cotton, linen and wool. BSL has a total production capacity of 32, 220 tones of yarn per annum. It includes 30, 600 tones polyester blended dyed yarns and 1, 620 tones wool mix yarn per annum. The Company also specializes in producing various type of fancy spun yarns. The present installed capacities are as under: Ring Spindles 1, 29, 316 Worsted Yarn Spindles 14, 400 Air Jet Spindles 736 www. banswarasyntex. com 7 BANSWARA SYNTEX LIMITED
OUR PLANTS Installed Capacity Fabric - Weaving & Processing BSL produces Hi-Quality, Hi-Performance textile wear, technical & jacquard finished fabric for both domestic and overseas markets. BSL has high qualified, skilled and dedicated Technical team where we produce textile fabrics from fibre stage to yarn, weaving, finishing and Garmenting. Our Specialty in textile include: » Stretch fabrics: “LYCRA ASSURED and Accredited” » Specialty Fnishings: Stain, Wrinkle, Moisture Management » Two Zone Fabric » Fire Retardant Fabric » Fabric Design and Development innovations » Laminated Technical Fabric Shuttles-less Looms Jacquard Looms 254 20 Fabric Processing Capacity 5 Million Meters/Month www. banswarasyntex. com 8 BANSWARA SYNTEX LIMITED
OUR PLANTS Installed Capacity Readymade Garments BSL’s Garmenting units are located in Daman and Surat. At both these locations, BSL specializes in productions of Trousers and Jackets, therbeby making BSL – a complete vertically integrated textile player (ie – right from conceiving an idea for fabric to the final product ready to wear in the least possible lead-time). Both these unites are equipped with a full complement of high-end machines to manufacture Trousers and Jackets of the finest quality, namely - Marking and Grading on a CAD system from Rich Peace - Sewing line onsists of Juki machines - Automatic Welting Machines from Eagle - Curtain Felling Machines from Union Special, Eyelet Buttonhole Machines from Reece and Blind Loop Machines from Mair - Complete Pressing process from Rotondi incl leggers, toppers & side seam presses Ø Jacquard made-ups 12, 500 pcs/month Ø Readymade Trousers 2, 70, 000 pcs/month Ø Readymade Jackets 22, 500 pcs/month www. banswarasyntex. com 9 BANSWARA SYNTEX LIMITED
OUR PLANTS Installed Capacity 1 st unit of 15/18 MW Thermal Power Plant commenced operations from Sept’ 07. 2 nd unit of 15 MW Thermal Power Plant commenced operations from March’ 11. www. banswarasyntex. com 10 BANSWARA SYNTEX LIMITED
OUR CUSTOMERS In India www. banswarasyntex. com 11 BANSWARA SYNTEX LIMITED
OUR CUSTOMERS In India ARVIND www. banswarasyntex. com 12 BANSWARA SYNTEX LIMITED
OUR CUSTOMERS Across the globe www. banswarasyntex. com 13 BANSWARA SYNTEX LIMITED
SHARE HOLDING PATTERN as on June 30, 2011 No. Category of Shareholder (A) Shareholding of Promoter and Promoter Group Total No. of Shares % of Total Share Capital (i) Individuals/ Hindu Undivided Family 6908816 (B) Public shareholding 53. 53% (a) Institutions 1505878 0 2311327 (i) Bodies Corporate 10. 20% 0 (b) Non-institutions (ii) Individuals - 06. 71% 7898785 (A) Total 46. 82% 989969 (ii) Bodies Corporate 15. 67% i. Individual shareholders holding nominal 2077993 14. 08% ii. Individual shareholders holding nominal 962378 06. 52% Sub-Total (b) 5351698 36. 27% (B) Total Public Shareholding (a) +b) 6857576 46. 47% 14756361 100. 00% share capital up to Rs. 1 lakh. share capital in excess of Rs. 1 lakh. TOTAL SHARE CAPITAL (A + B) www. banswarasyntex. com 14 BANSWARA SYNTEX LIMITED
DIVIDEND and BONUS HISTORY Year Percentage 2004 – 05 12% 2005 – 06 20% 2006 – 07 20% 2007 – 08 12% 2008 – 09 18% 2009 – 10 Interim Dividend 2009 – 10 Final Dividend 15% 20% 35% 2010 – 11 Interim Dividend 2010 – 11 Final Dividend 20% 30% 50% Company issued 1 Bonus Share for 2 Shares held by the shareholders on the record date i. e. 18. 08. 2006 www. banswarasyntex. com 15 BANSWARA SYNTEX LIMITED
PRODUCT WISE REVENUES FOR THE LAST 5 YEARS (INR in Crore) PARTICULARS TOTAL INCOME YARN FABRICS GARMENT OTHERS FY 2006 -2007 FY 2007 -2008 FY 2008 -2009 FY 2009 -2010 FY 2010 -2011 AMT % AMT % 393. 95 100. 00 438. 10 100. 00 548. 94 100. 00 630. 96 100. 00 808. 45 100. 00 211. 50 53. 69 230. 42 52. 60 254. 65 46. 39 289. 22 45. 84 340. 05 42. 06 149. 70 38. 00 168. 17 38. 39 238. 36 43. 42 285. 53 40. 97 353. 86 43. 77 22. 91 5. 82 29. 72 6. 78 43. 65 7. 95 58. 50 9. 27 79. 54 9. 84 9. 84 2. 50 9. 79 2. 23 12. 28 2. 24 24. 71 3. 92 35. 00 4. 33 www. banswarasyntex. com 16 BANSWARA SYNTEX LIMITED
Market-wise Revenue For The Last 5 Year (INR in Crore) EXPORT * FINANCIAL YEAR DOMESTIC TOTAL AMT % 256. 94 65. 22 137. 01 34. 78 393. 95 100. 00 281. 52 64. 26 156. 58 35. 74 438. 10 100. 00 366. 44 66. 75 182. 50 33. 25 548. 94 100. 00 2009 -2010 411. 13 65. 16 219. 84 34. 84 630. 97 100. 00 2010 -2011 522. 75 64. 66 285. 71 35. 34 808. 45 100. 00 2006 -2007 -2008 2008 -2009 *Includes incentives www. banswarasyntex. com 17 BANSWARA SYNTEX LIMITED
Historical Financial Performance (INR In Crores) S. NO PARTICULARS 1 TOTAL INCOME 2 EXPORTS (Incl. Export Benefits 3 EBIDTA* EBIDTA / TOTAL INCOME % 4 EBITA* EBITA / TOTAL INCOME % 5 F/Y 2010 -2011 F/Y 2009 -2010 F/Y 2008 -2009 808. 45 522. 75 630. 97 411. 13 548. 94 366. 44 138. 99 107. 09 73. 92 17. 19% 16. 97% 13. 47% 104. 97 76. 35 44. 54 12. 98% 12. 10% 8. 11% 62. 51 43. 34 11. 29 7. 73% 6. 87% 2. 06% 46. 93 30. 88 9. 59 PBT * PBT / TOTAL INCOME % 6 PAT * PAT / TOTAL INCOME % 5. 80% 4. 89% 1. 75% 7 GROSS FIXED ASSETS 677. 83 535. 17 475. 29 8 EQUITY SHARE CAPITAL 14. 74 13. 08 9 PREFERENCE SHARE CAPITAL 1. 73 10 RESERVES & SURPLUS 145. 18 101. 31 76. 22 11 NET WORTH (Excluding DTL) 159. 92 114. 39 89. 31 12 DIVIDEND % 20. 00% (Interim) 15. 00% (Interim) 18. 00% 30. 00% (Final) 20. 00% (Final) 13 ISSUE OF BONUS SHARES (Bonus: Equity Share) 14 BOOK VALUE PER SHARE (Rs. ) 15 - - - 108. 37 87. 45 68. 14 EARNING PER SHARE -Basic (Rs. ) 32. 05 23. 56 7. 29 -Diluted (Rs. ) 31. 79 20. 92 6. 47 *Including Extraordinary Item www. banswarasyntex. com 18 BANSWARA SYNTEX LIMITED
BANSWARA SHARE PRICE V/S BSE SENSEX Performance BSL share price in comparision to BSE Sensex 23000 150 140 130 19000 120 17000 BSL Closing price on BSE SENSEX 21000 110 15000 July, 10 Aug. 10 Sept. 10 Oct. 10 Nov. 10 Dec. 10 SENSEX www. banswarasyntex. com Jan. 11 Feb. 11 Mar. 11 April, 11 may, 11 june, 11 100 PRICE 19 BANSWARA SYNTEX LIMITED
AWARDS / ACHIEVEMENTS The company has got “Export Excellence” Award from the Rajasthan State Government for its export performance for the year 1993 -94 and 1994 -95, and also from 2005 -06 to 2007 -08 Year Category 1996 -97 Second Best Overall Export Performance 1997 -98 Best Export Performance in the category of Acrylic yarn 1998 -99 Third Best Overall Export Performance 1999 -00 Best Export Performance in the category of Man-Made Fibre Blended Fabrics 2001 -02 Fifth Highest Overall Export Performance in Synthetic & Rayon Textiles 2001 -02 Highest Export Performance in Acrylic Yarn 2001 -02 Highest Export Performance in Polyester Spun Fabrics 2001 -02 Highest Export Performance in Man-Made Fibre Blended Fabrics 2002 -03 Best Export Performance in Polyester Spun Fabrics 2002 -03 Best Export Performance in Man-made Fibre Blended Fabrics 2003 -04 Fourth Best Overall Export Performance in Synthetic & Rayon Textiles 2003 -04 Best Export Performance in Man-Made Fibre Blended Fabrics 2004 -05 Best Export Performance in Man-Made Fibre Blended Fabrics 2005 -06 Highest Export Performance in Made Fibre Blended Fabrics 2006 -07 Highest Export Performance in Made Fibre Blended Fabrics 2007 -08 Highest Export Performance in Made Fibre Blended Fabrics www. banswarasyntex. com 20 BANSWARA SYNTEX LIMITED
INVESTMENT RATIONALE 1. Rising Value Addition - BSL is India’s one of biggest integrated textile manufacturer. and wool blends, linen etc. - BSL is largest producer of PV Lycra fabric in the country (annual production is almost 3 times the production of rest of the producers in India) - BSL offers complete package solution from fibre to the garments in all product range include technical textiles and shirting fabric. 2. Growth - BSL is increasing its weaving capacity and almost doubling its garmenting capacity over the next 3 years besides growing yarn dyeing, cotton and wool dying. 3. Targetting New Markets - Set-up of marketing office in UK. - Key Customers of the company are gradually finding their operations in the developed markets unviable and shifting their business to BSL. - Ongoing addition of new customers of repute and size from the past couple of years. 4. Sustaining Profitability - BSL is amongst the few companies which sustained in the textile downturn due to its integrated capacity, new product development and strong relationship with its key customers. - BSL has consistently generated profits and has never restructured its debts alike many other companies in the textile sector. www. banswarasyntex. com 21 BANSWARA SYNTEX LIMITED
STATUS OF THE PROJECT UNDERTAKEN The investment by the company on Expansion, Modernization and Diversification during 2009 -10 and 2010 -11 in Rs. 149. 91 crores and Rs. 45. 85 crores respectively. It is also proposed to invest Rs. 80 crores during 2011 -12. The additional production capacities would yeild the production value at optimum level subsequently. Sr. Particulars No. 31. 03. 10 31. 03. 11 31. 03. 12 a) SYNTHETICS BLENDED 119188 127012 135460 b) WORSTED BLENDED YARN 14400 19200 576 736 592 a) FIBRE 720 840 b) YARN 90 150 a) FABRIC WEAVING 190 248 352 b) JAQUARD & TECHNICAL FABRIC 12 20 34 4 FABRIC PROCESSING (LACS MTRS/MONTH) 40 50 55 5 TROUSERS - LINES 15 18 19 225000 270000 285000 1 2 3 7500 15000 22500 18 33 33 1 SPINNING (SPINDLES) c) AIRJET YARN 2 3 FIBRE & YARN DYEING (MT/MONTH) FABRIC WEAVING (NO. OF LOOMS) PCS / MONTH JACKETS - LINES PCS. MONTH 6 THERMAL POWER PLANT (COAL BASED) www. banswarasyntex. com 22 BANSWARA SYNTEX LIMITED
MAJOR MILESTONES q Started Worsted Spinning Division to produce wool mixed yarns. q Commencement/ utilization of enhanced processing capacity from 16 lacs meters/month to 22 lacs meters/month. q Started additional lines for production of trousers and jackets at Surat SEZ Plant and Suits at Daman Plant. q Started production of Made-ups`/Décor at Banswara. q Started Cotton yarn dyeing at Banswara. q Developed world class fabric testing laboratory as per ISO, AATCC, ASTM, LS & Co. , M & S etc. testing protocol. The laboratory has successfully achieved accreditation of Levis & Co. , Marks & Spencer and undergoing ISO 17025 NABL accreditation. q Developed fabric designing section and created a garment studio at Mumbai for improvement in fabric and garment designs. www. banswarasyntex. com 23 200 8 BANSWARA SYNTEX LIMITED
MAJOR MILESTONES q Company started production of technical fabric and jacquard technical fabric. q Company added one more imported Italian make Stenter with other balancing/value adding machines to increase the fabric processing capacity up to 4 million meters a month. q Board of Directors allotted 16. 50 lacs warrants to persons other than promoters at a price of Rs. 41/- per warrant. These warrant have been converted into equal number of Equity Shares by the Board of Directors of the company in its meeting held on 27 th April, 2010. q Purchased 18292 sq. ft. land 18089 sq. ft. building constructed thereon at Daman to further expand the garment business of the Company. q Board of Directors announced Rs. 1. 50 per Share as interim dividend. q The Company has taken up installation of 2 nd unit of power plant and project for technical textile. q Taking up further expansion of Weaving, Processing and Garmenting capacities and also modernization of its spinning division. q Acquire office premises at company’s existing Mumbai office to take care of increase volume of company’s business. www. banswarasyntex. com 24 200 9 BANSWARA SYNTEX LIMITED
MAJOR MILESTONES q Addition of new production capacities: - q Spinning - 7824 Ring Spindles, 168 Airjet Spindles q Weaving – 66 Looms q Processing- -2 Stenters q Garments – 2 Trouser Lines q TPP – 2 nd Unit of 15/18 MW q Royal Bank of Scotland an Institutional Investor purchased 8. 81% Equity Share Capital of the Company. q Establishment of Marketing Office at London (UK). q Commenced generation of power on 2 nd Unit of Thermal Power Plant of 15 MW Capacity. q Commenced supply of Govt. Quota Coal to reduce the power cost. q Fabric Testing capacity increased by 45%. q Laboratory has been accredited by Railway Authorities , Accreditation renewed by LEVI’s, M&S for third consecutive year. q Set up for testing fire retardant and laminated fabric. q Started production of shirting fabrics. q 2010 And so on 11 Recently launched fashion brand i. e. Saint X for both formal and casual wear – fabric and garments. www. banswarasyntex. com 25 BANSWARA SYNTEX LIMITED
CORPORATE SOCIAL ENDEAVORS “AWAAS SEVA SADAN “ Home away from home AWAAS is a home for Senior Citizen to Love in Dignity, Love and Affection with Community. Awaas is located in Dongargaonwadi, Lonavala. The Founder Trustee of Awaas Seva Sadan Trust is Owner of Gatt No. 237, VIll. Dongargaonwadi, Lonavala Admeasuring about 3 acres. Awaas Seva Sadan Trust developed and constructed 50 Room of approx. 200 Sq. ft. each with two Hall Approx. 1, 000 sq. ft. each, total built up are 19, 000 sq. ft. It will have 50 Rooms (100% occupancy) with attached bath and cooking platform. Rooms for residents is free of charge except maintenance expenses shared on a co-operative basis. All rooms are well furnished. "we would like to make life as enjoyable and as interesting as possible for Retired and Elder Persons. “ R. L. Toshniwal (Founder Trustee) www. banswarasyntex. com 26 BANSWARA SYNTEX LIMITED
Contact Us Corporate Office 5 th Floor, Gopal Bhawan, 199, Princess Street, Mumbai – 400 002 Banswara Plant and Registered Office Industrial Area, Dahod Road, Banswara - 327 001 (Rajasthan) Daman Plant Survey No. 713/1, 713/2, 713/3, 725/2 & 725/1, Village Dabhel, Nani Daman, Daman - 396210 Surat Plant Plot No. 5 -6, G. I. D. C. , Apparel Park, SEZ Sachin, Surat – 394 230 (Gujarat) www. banswarasyntex. com 27 BANSWARA SYNTEX LIMITED
Administrative Block Spinning Unit www. banswarasyntex. com Thermal Power Plant Surat SEZ Unit BANSWARA SYNTEX LIMITED
Design Studio Finished Fabric Inspection www. banswarasyntex. com Quality Testing Laboratory Three Layer-Technical Fabric BANSWARA SYNTEX LIMITED
For further details, please contact: Mr. J. K. Jain Sr. V. P. (F&C) & Company Secretary Banswara Syntex Limited Email: ir@banswarafabrics. com Web: www. banswarasyntex. com BANSWARA SYNTEX LIMITED
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