Company History: Our Company was incorporated on January 22 2003 under the CompaniesAct 1956 as Firstwinner Trading Private Limited. Our Company was originallypromoted by Mr. Vijay Dargar and Mr. Sanjay Gupta on January 22 2003.Their shareholding was purchased by Mr. Rinku Patodia Mr. Sachin K. Jadhav Ms. Hetal S. Jadhav and their friends on January 24 2003. Mr. Vijay Dargarand Mr. Sanjay Gupta resigned from the Directorship on January 24 2003and in their place Mr. Sachin K. Jadhav and Ms. Hetal S. Jadhav had beenappointed as Directors. Mr. Rinku Patodia appointed as Director on August 4 2003 and then Mr. Sachin K. Jadhav resigned on September 5 2003.The name of our Company has been changed to First Winner Industries PrivateLimited and further to First Winner Industries Limited. We started our operationswith the objective to supply the textile fabrics to wholesalers and apparel & garment manufacturers. Initially we started trading in the textile fabrics and nowwith a view to have our own manufacturing facilities we have set up our ownweaving unit during 2006-07 by installing 100 looms. The manufacturing facilitiesare located at MIDC Tarapur District Thane Maharashtra. The unit has totalinstalled capacity to manufacture 108 lakh meter grey fabrics per annum andcommenced commercial production w.e.f. March 19 2007. We are executing job works for fabric and garment manufacturers. The income from job workconstituted 0.07% and 6.01% of total income during 2006-07 and for the firstquarter ended June 30 2007.
We have two subsidiaries viz. Ramshyam Textile Industries Limited and RealgoldExports Private Limited which are engaged in the same business. RamshyamTextile Industries Limited commenced its operations of weaving from February 1 2006 and became our subsidiary on April 1 2007. Ramshyam Textile IndustriesLimited is having 48 looms with total installed capacity of 42.24 lakh meter fabrics per annum. Realgold Exports Private Limited which was incorporated on December12 2002 also became our subsidiary on April 1 2007 and is having weaving unitwith 48 looms and total installed capacity of 62 lakh meters per annum.This unitexpected to commence its commercial production by November 2007. Both thesubsidiaries are having manufacturing facilities at MIDC Tarapur District Thane Maharashtra. For details please refer to paragraph Our Subsidiaries appearing on page number 76 of this Draft Red Herring Prospectus.
Major events in the History of Our Company:
A chronology of key events in our corporate history is set out below:
Year Key Events
2003 Incorporation of Company
2003 Started trading of Textile fabrics
2006 Change of Name to First Winner Industries Private Limited
2006 Conversion of private limited company into public limited company
2007 Establishment of Factory at MIDC Tarapur for manufacturing of fabrics witha capacity of
108 lakh meters per annum and commencement of production in March 2007.
2007 Ramshyam Textile Industries Limited became Subsidiary of our Company
2007 Realgold Exports Private Limited became Subsidiary of our Company
