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Abhishek Corporation Ltd. Company History and Annual Growth Details

R. M. Mohite Group started in 1983 with the establishment of
R. M. Mohite & Co., a partnership firm with our Promoters as
partners, for undertaking projects in infrastructure construction
sector viz-earthen dams, small and medium irrigation projects.
Some of the projects completed by RMMC include:

* Medium Irrigation project at Basaapachiwadi in Sangli district

* Bhira Tail race Hydro-Electric project in Raigad district

* Wana Left Bank Canal

* Patgaon dam and Kumbhi dam in Kolhapur district

* Jangamhatti medium irrigation project in Kolhapur district.

* M.I. Tank at Chorgewadi in Sindhudurg district

After strengthening Group's position in construction sector, our
Promoters went for diversification and diversified into textile
sector with the establishment of R. M. Mohite Textiles Limited in
the year 1991. In 1993, our Promoters had incorporated Abhishek
Cotspin Mills Limited (now known as Abhishek Mills Limited)
and set up a spinning unit in the year 1999, subsequent to their
dissociation with R.M. Mohite Textiles Limited in the year 1998
in lieu of family understanding,.

Our Company

Our Company was incorporated as Abhishek Cotspin Mills Limited
(ACML) on September 1, 1993. Subsequently, on November 14, 2005
name of our Company was changed to Abhishek Mills Limited (AML).
The Registered Office of our Company was changed from Shiv-Parvati
17-E, Nagala Park, Kolhapur - 416003 to Nashte Complex, 252, Assembly
Road, Kolhapur-416001 w.e.f. November 28, 1994. The Registered
office of our Company was further changed to Shiv-Parvati, 17-E,
Nagala Park, Kolhapur-416003 w.e.f. April 1, 1999 and then to
the present address w.e.f. December 1, 2005.

Our Company, which is a 100% export oriented spinning unit, is
promoted by Mr. Ramchandra M. Mohite, our Chairman, Mr. Anasaheb R.
Mohite, our Managing Director and Dr. Anjali A. Mohite from Kolhapur,
Maharastra. Our Company set up modern manufacturing facilities for
100% combed cotton yarn at Kolhapur with initial capacity of 13104
spindles in 1999 financed through term loan of Rs 455 lacs from The United
Western Bank Limited and balance from Promotors own funds.

In the year 2003 we expanded our capacities to 25920 spindles including 2016
spindles of compact spinning with value added facilities like Autoconer,
TFOs, Singeing. This expansion of Rs 3500 lacs was financed through term
loan of Rs 2302 lacs from the Indian Overseas Bank and balance through
internal accruals/Promoter contribution. Our Company initiated another
expansion in its spinning capacity by 7200 spindles in 2005, and commercial
production of which commenced from April 2006. The cost of above expansion
of 7200 spindles was Rs. 1300 lacs which has been financed through term loans
of Rs. 1137 lacs by The United Western Bank Limited and balance through
internal accruals/Promoter contribution.

We ventured into construction business in the year 2000 and undertook job
work for Morbe dam (earthern) project on Dhavri River, from M/s. R.M. Mohite
& Co., our group firm, which is a category Class IA registered contractor with
PWD, GoM and pursuing government contracts for last 30 years. This
diversification was considered necessary to overcome maximum ceiling on
contracts that can be performed by any registered contractor for several state
corporations in Maharashtra.

Our Company, with more than 3 years experience in construction activity, became
eligible and applied for registration as category Class IB registered contractor with
PWD, GoM. On obtaining this registration, we will be eligible to bid for various
infrastructure projects directly.

With our experience to cater to the premium segment of the fine yarn export market,
we now intend to set up an integrated yarn dyed shirting fabric project to tap its
growing domestic and overseas market. Further, Our Company is also planning to
increase its spinning capacity by adding another 12000 spindles to meet additional
requirement of yarn for captive consumption.

Key Events in the History of the Abhishek Mills Limited

1993 Abhishek Cotspin Mills Limited, incorporated for undertaking the business of
manufacture of cotton yarn
1999 Start of manufacturing facilities for cotton yarn at Kolhapur by ACML
1999 Started exporting high quality cotton yarn at competitive prices
1999 Company was designated as 100% EOU
2000 Our Company ventured into infrastructure construction
2003 Expansion of capacity from 13104 spindles to 25920 spindles.
2006 Expansion of capacity from 25920 spindles to 33120 spindles.
2006 Applied to PWD, GoM for registration as Class IB contractor.


-Members of are hereby informed that the name of Abhishek Mills Ltd shall be changed to Abhishek Corporation Limited and the trading symbol of the company be changed from AML to ABHISHEK w.e.f. June 26, 2008.
Oct 27, 12:00 am
Oct 27, 4:14 pm
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