Premier Synthetics Limited (PSL), founded in 1969 and promoted by the Arya Group, is primarily engaged in the trading of yarns and fabrics, including suitings and shirtings. While the company initially focused on manufacturing, it has shifted its emphasis towards trading activities. Under the leadership of Chairman Anand Arya, PSL expanded its production capacity in the early 1990s to include texturised yarn and fabric, and later diversified into cotton yarn manufacturing in Gujarat.
Despite these efforts, PSL faced financial challenges, with accumulated losses exceeding 50% of its peak net worth by 1999-2000, leading to its classification as a sick industrial company under SICA, 1985. The company has contested this designation, and the appeal is pending. In 2017, PSL raised capital through a preferential share issue, with 950,000 equity shares listed on the BSE. PSL's strategic focus remains on its trading operations, supported by limited manufacturing capabilities.
