Shiva Texyarn (SHIVATEX) is engaged in the business segments of yarn, wind power, and finance. It was incorporated as a private limited company on May 28, 1980 and converted into a public limited company on Nov. 25, 1985. The company operates through its textile, finance and wind mill divisions. The yarn manufacturing facility is located in the Dindigul district of Tamil Nadu with an installed capacity of 39,072 spindles.
The wind mills are located in Coimbatore and the Tirunelveli and Erode districts of Tamil Nadu with a total installed capacity of 16.795 MW wind power. The agency business consists of marketing and managing the portfolio of advances made by HDFC Bank for financing commercial vehicles. A new textile mill in the Coimbatore district, an open end spinning unit near the existing textile unit in Dindigul at an estimated cost of Rs 400 million to increase spindalage by 72,000, and a knitted garment project in the Tirupur district at a cost of Rs 850 million are being set up. These projects funded by term loans and internal accruals are expected to commence commercial production in 2008-2009. With its associate, Bannariamman Spinning Mills, the company entered into a 50:50 joint venture agreement with Jacob Apparel, an established name in the international garment scene headquartered in Mauritius. A new company, Bannariamman Apparel, has been incorporated to implement the project and a garment production unit is being established in the Kancheepuram district of Tamil Nadu to commence commercial production in 2007-2008. With a strong brand image in the domestic knitting centers like Tirupur, Calcutta, Kanpur and Mumbai, products are exported to Israel, Egypt, Singapore, Malaysia, Korea, Hong Kong, Sri Lanka, Taiwan, Mauritius and the non-quota European markets. The registered office is located at 252 Mettupalayam Road, Coimbatore-641043, Tamil Nadu.
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