Paras Petrofils Limited, established in March 1991, initially operated in the manufacturing of nylon and polyester yarn and was involved in fabric trading and commission activities. Due to challenging market conditions, operations were halted, and the company diverted its surplus funds into loans and advances. In 1995, Paras Petrofils raised Rs 10 crore through a public issue to partially finance a Rs 28.51 crore project aimed at producing 5,740 tonnes per annum of partially oriented polyester filament yarn (POPFY) at its Palsana, Surat facility. They partnered with Noy Val Lesina, Switzerland, for plant supply and technical services, and engaged Tata Consulting Engineers for project engineering.
Commercial production of POPFY began in 1996-97. In 2004-05, the company enhanced its operational capabilities by installing a 2 MW natural gas-based captive power plant. By 2010-11, Paras Petrofils expanded its product line to include nylon yarn alongside its existing polyester yarn production.
