Polyspin Exports Limited was incorporated on March 29, 1985. It commenced commercial production in 1990. The Company is engaged in Manufacture of FIBC Bags, Fabric, PPYarn, Multifilament Yarn, Paper Bags, etc., with an installed  capacity of 10,800 MTS per annum and manufacturer of OE yarn with an installed capacity of 1,760 Rotors. The  Company's FIBC bags are primarily exported to U.S.A, Europe and African Countries and OE Yarn mainly to domestic market.

The Company is a 100% Export-Oriented Unit (EOU). The Plant is located at Rajapalayam, Tamil Nadu. The Company established a new unit to manufacture Open End Spinning Yarn under the name and style of 'PEL TEXTILES' in 2010-11. It started commercial production of Open End Spinning Yarn in March, 2012. Later, the Multifilament Yarn Project was commissioned in April, 2019.

The Company had permanently closed the operations of and profitability, textile division during financial year 2023-24 due to unviability of prices and sluggish market. The sale process of plant and machineries was completed in September 2024.

The Company has installed the 6 Nos. of Nova 62 Circular Looms costing Rs 1.22 crore by replacing the 6 nos. of old looms to increase its production in 2026.