| Corporate profile and Brief History of the company
The company was originally incorporated in the name and style of as "Angel Fibers Private Limited" at Rajkot on February 14, 2014 as a private limited company under the Companies Act, 1956 with the Registrar of Companies, Gujarat, Dadra and Nagar Haveli, bearing Corporate Identification Number U29307GJ2010PTC061759. Subsequently the company was converted to public limited Company pursuant to shareholders resolution passed at the Extra-ordinary General Meeting held on December 7, 2017 and the name of the company was changed to =Angel Fibers Limited?. A fresh certificate of incorporation consequent upon conversion to public limited Company was issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli, on December 11, 2017 bearing Corporate Identification Number U29307GJ2010PLC061759. The Promoters of the company are Prafulaben Dudhagara and Ashok Dudhagara. Bakulesh Jani, and Ashok Dudhagara were the initial subscribers to the Memorandum of Association of the company. Prafulaben Dudhagara acquired 5,00,000 equity shares on January 21, 2015.
Incorporated in 2014, we are primarily affianced in the business of spinning of cotton yarn . We also trade in cotton waste which is by-product of our manufactured product. The manufacturing facility of the company is situated at Kalavad in Jamanagar district of Gujarat state which is close to the cotton growing areas of Maharashtra and Saurashtra (region) of Gujarat. The company has installed 19584 spindles which can manufacture 4363Metric Tonne per annum viz.,30s Ne Combed and 40s Ne Compact variety t used to make products like bed sheets, socks, knitted fabrics, etc. and 40s Ne Compact Combed yarn used to make Shirtings, Sheeting, Bottom Weights, etc. Our plant is equipped with modern and automatic plant and machinery. Technology is a crucial aspect of the cotton yarn industry. Our technical team in spinning is well equipped with modern spinning technology and processing techniques by virtue of which we are able to ensure quality yarn.
For information on the company`s profile, activities, market, products, etc., market of each segment, capacity built-up, exports and profits due to foreign operations together with country wise analysis, standing of the company in comparison with prominent competitors, with reference to its products, management, managerial competence, technology, market, major suppliers and customers, environmental issues, geographical segment, etc. wherever applicable, please refer to chapters titled "Our Business", "Financial Statements as Restated", "Management`s Discussion and Analysis of Financial Condition and Results of Operation", "Government and Other Statutory Approvals"
Major Events and Milestones:
2014
- Incorporation of the company
2015
-Commencement of our Commercial production
2017
-Conversion of Private Limited Company to Public Limited Company
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