The Company is founded by Mr. Nitin Patel & Kushal Patel. They are engaged in manufacturing & export of best quality cotton bales & cotton seeds. They are professionally managed company having large network and infrastructure in the home company is equipped with state-of-art infrastructure backed by the large and fully automatic plant for cotton to cotton bales.
Having in-depth knowledge of this business help them in delivering optimum result in specified business challenges apart from global computation with their futurist approach. This yields overall increases in turnover of company to supply good quality cotton word wide.
Axita cotton Pvt Ltd is located at kadi District – mehsana (-Gujarat, India). The company is spread over 12000 square yards and equipped by the latest machinery & technology for ginning and pressing cotton. They have more than 48 double roller ginning machine, latest Ginning machinery, approved by the government of India ministry of textiles through TUF project Using all of this machinery and paying more hard-work the company is now able to GIN 250000 Kg. of Raw Cotton per day. The company is also able to produce more than 500 cotton bales(170Kg) per day.
Objective of Axita Cotton Limited IPO are:
The proceeds of the Issue, after deducting Issue related expenses estimated to be Rs 10 Cr will be utilized to fund the Net Incremental Working Capital Requirement of the company.
Promoters of Axita Cotton Limited Company are:
Mr. Nitinbhai Govindbhai Patel,
Mr. Kushal Nitinbhai Patel
Mr. Amitkumar Govindbhai Patel.
Financials of Axita Cotton Limited IPO:
For the year/period ended (in Rs Lacs)
Profit After Tax
Recommendation on Axita Cotton Limited IPO:
Review and Recommendation of Axita Cotton Limited IPO from our side is:2/10
[The textile companies have not given good returns lately. The Axar Spintex and Lagnam Spintex both are trading well below their issue price. The Issue is priced at P/E of 48 based on FY18 earnings which are very expensive.]