Gratex Industries limited was incorporated in the state of Maharashtra on 23-2-1984 as a private limited company under the name of Gratex Decorative Industries Pvt Ltd. The company was converted into a public limited company by passing a special resolution on 7.10.92 and obtained certificate of change of name on 5th November, 1992. The name was changed from Gratex Decorative Industries Limited to Gratex Industries Ltd. on 9th day of March, 1993 under the Companies Act. The main objects of the company are fully set out in the Memorandum and Articles of Association of the Company and are also detailed here in the Prospectus. The works of the company is located at Gratex House, Thane Belapur Road, Khairne, New Bombay in the state of Maharashtra. Against Company's installed capacity of 84,000 Vinyl Rolls and 1,80,000 Non-Vinyl Rolls p.a., it had manufactured 72000 Vinyl Rolls and 36,000 Non-Vinyl during the year 93-94. For lack of demand, Company has discontinued manufacture of Non- Vinyl Rolls, as such there is ideal capacity available which can also be utilised for production of vinyl rolls. Expansion The Company intends to expand its Vinyle capacity to 2,10,000 Rolls per annum. The expansion unit will be located at the existing premises situated at Gratex House, Thane Belapur Road, Khairne Road, New Bombay. The cost of the expansion project has been estimated at Rs. 225 lacs. The proposed expansion will increase the installed capacity from 84000 Rolls P.A. to 2,10,00 Rolls P.A. for Vinyle and no change in the Non-vinyle capacity.