Alok Industries Result

Alok Ind History

Alok industries is india’s largest textile company.

with fully intergrated with dominant presense in the cotton and polyester segments.

Main business

  • weaving.
  • knitting.
  • processing.
  • home textiles.
  • ready made garments.
  • polyester yarns.

Alok industries exports 26% of its products to 90 countires in the Europe, US, south america, asia & africa.

Alok industries become public in 1993 and listed on NSE/BSE, IPO size is Rs 4.5 Crore.

Company Details

Company Headquarter – Mumbai, Maharashtra
Founded – 1986
MD – Dilip Jiwrajka
Industry – Textile, Retail & Real estate
Number Of employees – 20,169

Alok Ind Reconstruction Plan

SBI bank, had initiated insolvency proceedings against Alok Ind in June 2017.

Read :- Jio Review

Reserve Bank of India (RBI) asked banks to refer to the NCLT process. Alok Ind owed lenders a total of Rs :- 30,000 crore.

Reliance ind along with JM financial reconstruction company won the bid for Rs 5050 crore and reliance ind paid Rs 4550 crore by taking loan from bank and RIL infusing Rs 500 crore in equity into the alok industries.

The Ahmedabad bench of the National Company Law Tribunal had in 2019 approved the joint bid.

Alok Industries has allotted 250 crore 9% Optionally Convertible Preference Shares ,OCPS of Rs 1 each , for a total consideration of ₹250 crore to reliance ind.

RIL hold 83.33 crore equity shares of Re 1 each at a premium of ₹2 per equity share for cash at total consideration of ₹250 crore to RIL,” Reliance Industries Ltd (RIL) said in a regulatory filing.

Reliance ind hold 37.7% stake in alok industries.

Alok Industires PPE kit production

Alok ind started making 1 lakh ppe kit per day day at a cost of Rs 650 per unit, which will be at one-third the cost of PPE kits imported from countries like China, india import Rs 2000 per ppe kit.

Company Fundamentals

Alok Industries
Alok Industries

Open Demat and Trading Account With Upstox – Click Here