Premco Global is a family-run manufacturer that turns synthetic yarn into the stretchy tapes hidden inside waistbands, straps and seams - a niche industrial supplier to the world’s apparel brands. Incorporated in 1986 and now run by the second generation of the Harjani family, the company has spent four decades refining one thing: woven and knitted elastic tapes that meet international standards. Its recurring approach is to own the entire production chain - from yarn to finished tape - across a cluster of factories in western India and a strategically placed plant in Vietnam, so it can serve global clothing brands directly without middlemen.
Business segments
A single-engine business - elastic tapes for apparel - run across two manufacturing geographies that share the same product line, customers and know-how.
1. Elastic tapes: the stretch inside every garment
The company makes one product family - woven and knitted elastic tapes - and sells it to apparel brands worldwide; everything else (factories, certifications, export licences) exists to support this single line.
- One product, two constructions - it manufactures both woven elastic tapes (flat, strong, used in waistbands) and knitted elastic tapes (softer, used in lingerie and sportswear), plus a micro variant that needs less finishing energy on heated drums.
- Sold to brands, not to shoppers - its customers are apparel manufacturers and brands in the innerwear, sportswear, medical and footwear industries; demand rises when those brands sell more, driven by fashion consciousness and higher disposable incomes in India and abroad.
- Export and domestic under one roof - the company sells in both Indian and overseas markets, with export incentives under government schemes (Duty Drawback, RODTEP) recognised as income in the year of shipment.
- Quality as the entry ticket - its stated philosophy is to produce elastic tapes conforming to international standards, backed by an in-house sampling and R&D team that keeps up with fashion trends and customer specifications.
- A concentrated bet with a wide funnel - the Indian innerwear market alone was estimated at ₹32,000 crore, yet it remains highly fragmented with small-scale players meeting 60-65% of demand; the company sees room to grow as brands gain share.
2. The Vietnam plant: a second production base inside a global textile hub
A wholly-owned factory in Vietnam gives the company a geographical shortcut to overseas customers, placing production inside one of the world’s fastest-growing textile manufacturing and export centres.
- Built for export reach - the Vietnam subsidiary, Premco Global Vietnam Co. Ltd., manufactures the same elastic tapes and gives the company a proximity advantage when supplying goods to international buyers.
- Full ownership, separate rhythm - originally an 85% stake, the subsidiary became wholly owned in December 2022 after the other shareholder’s stake was repaid to his heirs; it reports on a January-December calendar, unlike the parent’s April-March fiscal year.
- A textile cluster play - Vietnam ranks among the most rapidly growing countries for textile manufacturing and exporting, so the plant sits inside the supply chains of the same global brands the company serves from India.
3. The Indian factory network: five plants consolidated for scale
Five manufacturing locations across Maharashtra and Gujarat - Mumbai, Dadra, Palghar, Vapi and Umbergaon - form the domestic production backbone, with recent consolidation shifting output to the newest and largest site.
- Umbergaon is the new anchor - built with a capital outlay of ₹28 crores from internal accruals and bank borrowing, this Gujarat plant is equipped with state-of-the-art facilities compliant with international standards to meet export certifications.
- Consolidation in motion - the company has moved manufacturing from its Palghar and Vapi facilities to other plants to achieve operational synergies, reallocating machinery and resources.
- Dadra as the export workhorse - among the Indian sites, the Dadra plant generated the bulk of standalone revenue in FY24, with roughly 70% of its output sold outside India.
- Small efficiency gains add up - a ₹15-lakh investment in solar panels at Dadra cuts the electricity bill by ₹1.8 lakhs a year, while high-capacity motors have been replaced with energy-efficient ones across the covering department.
Group structure and partners
A tightly held family enterprise with one overseas subsidiary and a web of related-party ties that reflect its promoter-led character.
- Promoter family at the controls - the Managing Director and Chairman, Mr. Ashok Harjani, holds 43.52% of the company; his son Mr. Lokesh Harjani (Whole Time Director) holds 13.19%, while Mrs. Nisha Harjani (Executive Director and CFO) and Mrs. Sonia Harjani (Executive Director) hold smaller stakes, together giving the family majority control.
- Related-party ecosystem - an associate, Premco Industries, shares common directors and received rent of ₹64.20 lakhs from the company in FY21; other related entities include Onspot Solutions Pvt. Ltd. and Pixel Packaging Ltd..