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Alok Industries

Overview

Alok Industries Limited is an Indian textile manufacturing company headquartered in Mumbai, Maharashtra. The company operates as a vertically integrated textile manufacturer with activities spanning cotton and polyester yarn, woven and knitted fabric, home textiles, garments, and processing. Its shares are listed on the Bombay Stock Exchange and the National Stock Exchange of India.

Key facts

Industry Textiles and apparel
Headquarters Mumbai, Maharashtra, India
Country India
Type Public limited company
Listings BSE, NSE
Products Cotton and polyester yarn, woven fabric, knits, home textiles, apparel

Background

Alok Industries operates across the textile value chain, with manufacturing facilities in Gujarat and Maharashtra. The company's business is structured into segments covering spinning, weaving, knitting, processing, home textiles, and garments. It supplies both domestic markets and international customers, and has historically positioned itself as one of the larger integrated textile producers in India.

Operations

The integrated model allows the company to manufacture finished textile products from raw cotton and polyester staple fibre. Product categories include bed linen, terry towels, apparel fabrics, and ready-made garments. Manufacturing locations include sites at Silvassa and in the textile belt of Gujarat.

History

Alok Industries was incorporated in the 1980s and grew through successive expansions of its spinning, weaving, and processing capacities during the 1990s and 2000s, becoming one of India's larger publicly listed textile firms by capacity.

Insolvency proceedings

Following financial stress and large debt obligations, Alok Industries was admitted to the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. A resolution plan submitted by a consortium led by Reliance Industries and JM Financial Asset Reconstruction Company was approved by the National Company Law Tribunal. Following the resolution, Reliance Industries became a major stakeholder in the company, and Alok Industries continued operations as a going concern under restructured ownership.

Significance

Alok Industries is notable in the Indian corporate landscape for two reasons. First, as a vertically integrated textile producer, it represents the scale-driven model of Indian textile manufacturing oriented towards both domestic consumption and export. Second, its insolvency case is among the more prominent resolutions completed under India's Insolvency and Bankruptcy Code, and is frequently cited in discussions of corporate debt resolution in India.

References

  • Wikidata entity: Q4734296
  • Disclosures filed with the Bombay Stock Exchange and National Stock Exchange of India.