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Eastern Silk Industries Ltd. Company History and Annual Growth Details

Eastern Silk Industries Limited (ESIL) was incorporated in the state of West Bengal on 9th April, 1946, under the Companies Act 1913, in the name of Eastern Silk Manufacturing Company Ltd. The Certificate forcommencement of business was obtained on 25th April, 1946. The company was, thereafter, converted into a Private Limited Company in the name of Eastern Silk Manufacturing Company Private Limited on 12th June, 1956. The company was again converted to a Public Limited company in the name of Eastern Silk Manufacturing Company Limited and fresh certificate of incorporation consequent to change of name was issued by the Asst. Registrar of Companies, West Bengal on 26th July, 1975. The name of the company was further changed to "Eastern Silk Industries Limited" and a fresh certificate of incorporation consequent on change of name issued by the Asst, Registrar of Companies, West Bengal, was obtained on 12th August, 1975.

Present Business

The company is presently engaged in the manufacture and export of silk fabric and made-ups like scarves, garments etc. with an installed capacity for the production of 40.5 lac metre per annum of fabric and 150 m. tones p.a. dyed yarn.

ESIL is recipient of outstanding export performance award in the year 1993-94 from Government of India, Ministry of Commerce and certificate of meritorious performance in the export of natural silk goods during 1990-91, 1992-93 and 1993-94 from the Indian Silk Export Promotion Council (sponsored by the Government of India).

ESIL is involved in an integrated production facility of silk products starting from reeling of yarn from cocoons to finished silk. ESIL procures the cocoons from the southern part of India and Madhya Pradesh. The yarn is reeled on a contract basis by the various units in different villages in the cottage industry sector. The reeled yarn is sent
either directly in to company's process house at Noida for dyeing or given to Eastern Enterprises Ltd. (EEL), a wholly owned subsidiary of ESIL. Around 50% to 60% of the yarn requirement is imported mainly from China, Brazil and CIS countries. After the weaving of the fabric, ESIL processes and finishes the fabric at its process house at Noida. The
made-ups like scarves etc. are mainly manufactured in Naraina in New Delhi.

Production facilities of ESIL

NOIDA (U. P.)

This is a processing unit which processes and finishes all the fabrics made all over the country for final luster and glaze to be fit for the export market. The Company has also got printing facility at Noida for scarves. The annual production capacity at Noida is roughly 40.5 lac
metres of fabric and 150 MT of yarn.

Besides the above facilities, at Naraina (New Delhi) the Company has its own Garments Division where garments are made as per design of various customers.

CALCUTTA

The company has entered into leather manufacturing for export and has its manufacturing unit at Calcutta for processing and value addition of leather goods.

The Company is also a merchant exporter. ESIL in the past has exported soyameal, shrimps and silk waste.

Trading House

ESIL has been recognised as a `Trading House' in accordance with the provisions of the import Policy by the Government of India, Ministry of Commerce, Office of the Chief Controller of Imports & Exports. The validity of the certificate is from 1st April, 1993 to 31st March, 1996.

The benefits of recognised trading house are as follows:

a) entitlement of Special Import Licence (SIL) for 5% on FOB value of exports realised in the preceding licensing year. 1% extra SIL is permitted to exporters of handloom, and handicraft products including silk products provided the export of these products is more than 50% of their total export.

b) Under the Zero-Duty EPCG scheme, the facility of exemption from execution of bank guarantee and clearance of Capital Goods on execution of a Bond without bank guarantee.

2002

-ESI Ltd have recommended dividend @ 10%

2004

-Eastern Silk establish fabric manufacturing facility at Anekal

2006

-Eastern Silk Industries has recommended dividend @ 35%

2008

- The Company has splits its face value from Rs10/- to Rs2/-.

2009

-Board has recommended a dividend of Rs.0.20per equity share.

2010

-Board has recommended a dividend of Rs.0.12per equity share.

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