Surya Exim

During the previous year the Company has developed the very good market of PTA/MEG, which is raw material for making Polyester Chips and manufacturing of Polyester Yarn and FDY and having Good Market demand. The company is also engaged in marketing of various Polymers like PVC Resin / Pet Resin / PP Raffia / LDPE / HDPE for which there is a huge market available in and around Surat, Daman, Silvassa, Ahmedabad & Jalgaon. The Company has developed good market in the Gulf/Middle east countries. Taking the advantage of the good contacts with the various suppliers from China, Taiwan & Korea, the Company enjoys a good standing and able to negotiate very competitive price by way of buying in bulk quantity. Hence the Company is able to source the material at low cost and able to export the same at a competitive price. The Company has successfully developed the Merchanting trade and is able to increase the profitability. The Company is already doing Merchanting trade of various polymer/masterbatchs/yarn/all sorts of computer hardware system/ etc. The Company is actively considering various proposal of marketing of various products in the field of merchant trade. After the continuous growth of Surya Yarn, in 2010 Company has established another division named "Surya Rayon" to capture the market of Viscose Rayon Yarn. The new division is performing well towards its objectives. The Company has decided to explore its business line in new area of Trading of electronic/automation equipments, devices and accordingly started a new division styled as "Surya Technologies" in the year 2011. The primary object of the new division is to tape the opportunities in the line of electronic/automation equipments, devices etc. Apart from the above, the management of the Company is always committed to reduce the cost of expenditure to maximize the profits of the company which reflects in the volume of the profits of the earlier years. Further the management is also trying to utilize the assets of the company in a way to maximize stake holders interest commensurate with social development and sustainable growth resulting in maximization of wealth in addition to increase in profit volume. Moving ahead, following the cost reduction policy, the Company has already developed in-house logistic infrastructure for transporting the goods from Landed Port to the Godown of the Company and for distributing the goods to the valued customers of the Company. The Company is moving towards to get benefited from the emerging opportunities of the market and increase its business volume to the achievable level and for this purpose the company proposes to augment its working capital limits from the banking system. Presently, the Company is working under Consortium Banking Arrangements with Canara Bank, Kotsafil Road, Branch, Surat and the ICICI Bank Ltd, Bank of Baroda, Dena Bank & City Union Bank Limited enjoying aggregate Fund Based limit of Rs.10.00 Crore and Non-Fund Based (L/C) limit of Rs.150.00 Crore. Canara Bank is a Lead Bank to the Consortium banking arrangement. The present renewal proposal, therefore, involves an assessment of need base working capital for FY 2013-14 under the Consortium banking arrangement for Fund Based Limit of Rs.10.00 Crore and Non-Fund Based Limit for Rs.200.00 Crore.