| Mr. Narayan Saboo and Mr. Sitaram Saboo promoted Mohit Fibres Private Limited on 18th February, 1991. The company was then converted into a Public Limited Company i.e. Mohit Fibres Limited and obtained a fresh certificate of incorporation on 17th February, 1995 from Registrar of Companies, Gujarat at Ahmedabad. The Company started its activities with trading of yarn. In short span of time of three years (i.e. 92-93 to 94-95) the turnover of the company has increased from Rs.4.74 Crores to Rs.13.01 Crores. The profit after tax has increased from Rs.0.84 Lacs to Rs.22.82 Lacs. The gross block of the company as at 31st March 1992 was Rs.0.49 Lacs and the same is increased to Rs.137.66 Lacs as at 31st March 1995. The company is growing slowly but steadily and gradually.
PRESENT BUSINESS
The Company has set up a plant for manufacturing weaving cloths at village Kudsad, Taluka Olpad, Dist.Surat at a total outlay of Rs.94.00 lakhs. The present installed capacity of the same is 8 lakh meters p.a. The said unit was part financed by GIIC to the extent of Rs.40.25 lakhs.
The present unit is running at a capacity utilisation of about 94%.
SUBSIDIARIES OF THE COMPANY
The Company does not have any subsidiary.
1996-97:
During the year, second texturising machine came into operation. The polyester industry remained sluggish during most part of the year. The price of yarn came down substatially. In spite of this, the company could achieve the results in the very first year of expansion.
The company is expanding its operations at Silvassa by establishing texturising/twisting unit with a capacity of 2980 MT.
-Name Change from MOHIT FIBRES LIMITED to MOHIT INDUSTRIES LIMITED
2005
-Mohit Industries Recommended total dividend of 12%
2006
-Mohit Industries Ltd Issues Rights in the Ratio of 3:2
2010
-Mohit Industries's production of Company's new project Autoclaved Aerated Concrete (A.A.C.) blocks has started at Company's Palghar plant (Maharashtra).
-Mohit Industries has received order from Larsen & Toubro for supply of more than 150000 blocks, the order is worth Rs. 13 million.
-Mohit Industries has successfully commissioned its Gas Based Captive Power Plant at its Kim Unit.
2011
-Mohit Industries have recommended a Final Dividend of 15%
2012
-Mohit Industries have received an Order from The Tamil Nadu Handloom Weavers Co-Operative Society Limited for supply of 25,00,000 Sarees to be completed in the next 2 months. The Total Amount of the Tender allocated to the Company is approximately Rs. 30 Crores.
-Mohit Industries bags order worth nearly Rs 100 mn from Tamil Nadu Handloom Weavers Co-Operative Society Limited
2013
-Ms. Swati Malu has been appointed as Company Secretary as well as Compliance Officer of the Company.
-Awarded by Government approved "Export House Status"
2014
-Mrs. Pragya Memani has been appointed as an additional director in the category of Non-Executive Independent Director on the Board of Directors of the Company.
2015
-Installation of 2 new texturising Machineries and 50 high speed shuttle less water jet looms in Kim making total 16 Texturising machineries,150 shuttle less water jet looms,144 conventional shuttle less looms and 17 TFO machines with a production capacity of 21000 MT of Texturised Yarn and 12 million meters of Grey fabrics.
- ISO Certification 9001:2008
- Export sales recorded at Rs. 8800 Lacs.
2016
-Demerger of AAC Block Division at Umargaon to Bigbloc Construction Ltd
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