Pranavaditya Spinning Mills Ltd. (herein after referred to as ‘the company’ of ‘PSML’ for the sake of brevity only), was incorporated on 12th September, 1990 to manufacture cotton/ synthetic yarn at the factory situated at Village Alte, Hatkanagale Taluka, Dist. Kolhapur, Maharashtra.

Indo Count Industries Limited (ICIL) became co-promoter of M/S Pranavaditya Spinning Mills Ltd. (PSML) under BIFR sanctioned scheme and took over management control from 1st August 2008. Since the takeover of the management control, the working improved drastically and the net worth was continuously positive.