About Eurotex Industries and Exports Limited

Eurotex Industries and Exports Limited is an Indian textile company with a long-standing presence in cotton yarn spinning and knitted fabric manufacturing. Historically, the Company has been a mill-led exporter of cotton yarn, supplying to markets worldwide and contributing to India’s textile value chain.

The registered and head office of the Company is located at:
1110, Raheja Chambers, 11th Floor, 213, Nariman Point, Mumbai – 400021,
while its mill premises are situated at Gokul Shirgaon, Kolhapur, Maharashtra.

In recent years, Eurotex has diversified into real estate development, including the construction and sale of residential flats and shops at its Kolhapur property, reflecting a strategic shift alongside its textile heritage.

Operations and Footprint

• Geography: All operations and assets are located within India.
• Sales Mix: For the latest financial year, 100% of sales were domestic, with no exports (Nil).
• Structure: The Company has no subsidiaries, joint ventures, or associate companies, operating as a single standalone entity.

Key Milestones and Historical Highlights

• 1980s–2010s: Established as a major cotton yarn manufacturer and exporter from India.
• 2014–2018: The Board approved real estate development agreements for land at Euro Palace, Uchagaon, Kolhapur (resolutions dated November 8, 2014, and August 12, 2017; agreements executed on December 20, 2014, and March 14, 2018).
• March 26, 2022: The Board resolved to close the manufacturing plants at Kolhapur following prolonged operational inactivity since March 25, 2019, due to inter-union rivalry and power disconnection.
  • A formal closure notice was posted on March 30, 2022.
• March 31, 2025: Assets related to non-operational manufacturing (excluding land and buildings) valued at Rs. 1,292.31 lakh were reclassified as “Assets held for disposal.”

Business Segments

Key Management

• Krishan Kumar Patodia – Chairman & Managing Director
• Narayan Patodia – Managing Director
• Rajiv Patodia – Executive Director & Chief Financial Officer
• Neha Garg – Company Secretary & Compliance Officer

Latest Developments (FY 2024–25)

1. Manufacturing Operations

• The closure of Kolhapur mills (effective March 30, 2022) remained in place during the year.
• The Company confirmed no plans to recommence manufacturing due to operational and industrial constraints.

2. Real Estate Development

• Active development continued at Euro Palace, Uchagaon, Kolhapur under earlier agreements (2014 & 2018).
• The project’s civil and internal works are nearly complete, with most flats sold and possession handed over.
• Completion is expected before December 31, 2025.

3. Asset Reclassification

• Property, plant, and equipment (excluding land and buildings) worth Rs. 1,292.31 lakh were classified as “Assets held for disposal”, aligning with the discontinuation of manufacturing operations.

4. Legal and Financial Matters

• A case regarding labour dues was disposed of by the Hon’ble Supreme Court, directing the matter to the Hon’ble Bombay High Court.
• A writ petition has been filed in the High Court; proceedings remain pending.
• The Company has settled all lender bank dues and continues to develop available land at Kolhapur.
• Financial statements have been prepared on a going concern basis.

5. Governance and Compliance

• The Company reported no material regulatory or judicial orders impacting its operations or financial position.
• It confirmed adherence to Secretarial Standards and voluntary compliance with Regulation 24A of SEBI (LODR) by submitting the Annual Secretarial Compliance Report within timelines.

Note: All information is derived from Eurotex Industries and Exports Limited’s Annual Report for FY 2024–25 and other statutory filings.