Bombay Dyeing, the leading home textiles manufacturing company of the country, has decided to wind up operations of its loss making joint venture PT. Five Star Textile Indonesia (PTFS) in due course. The company was incorporated at Jakarta in Indonesia in 1979.
The company which has been incurring losses for many years was engaged in manufacturing and selling of yarn, cloth, and other textile products. It reported a turnover of USD 1.84 million and net loss of USD 1.54 million in December 2017.
According to a company statement, “With the acquisition of additional 3,409 shares in existing joint venture in Indonesia, the shareholding of the company will rise to 86 per cent from 33.89 per cent at present, thereby making it a subsidiary of the company. This is a strategic move to wind up the loss making joint venture in due course”.
Bombay Dyeing kicked off as a small operation of Indian spun cotton yarn dip dyed by hand in 1879. The company set up by Nowrosjee Wadia has now become one of the most respected and trusted brands in the country.
It is pertinent to mention here that in view of rising demand for readymade clothing in the Indian men’s apparel market, Bombay Dyeing has decided to lead home textiles manufacturing company, to make a comeback to the segment.
Previously, Wadia Group’s textile company had its own apparel brand named ‘Vivaldi’ which they had sold to Proline India, in a bid to focus more on the home furnishings business.
Bharat Tex Special Report 2026 
