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Kandagiri Spinning Mills Ltd. Company History and Annual Growth Details

Kandagiri Spinning Mills Limited (KSML) was incorporated on 5th
May, 1976 under The Companies Act, 1956 under the name of "The
Ammapet Sizing Mills (P) Limited". Later on the name was
changed to "Kandagiri Spinning Mills (P) Limited" pursuant to
special resolutions passed on 17th April, 1978. The change of
name was approved by the Central Government under Section 21 of
the Act and a fresh Certificate of Incorporation dated 15th
July, 1978 was obtained. The word "Private" was deleted under
the provisions of Section 43 A (2) of the Act with effect from
1st January, 1989 and the Company has become full fledged Public
company with effect from 21st November, 1992. The company
commenced commercial production in 1979 with an Installed
Capacity of 3260 Spindles.

The spindlage has been increased by utilising internal accruals
and borrowings over the years as under.

Year Installed Capacity

1983 10400
1986 18700
1988 23500
1991 24652
1993 28492
1994 33212

As on 07/09/1994 the Company has an Installed Capacity of 38012
Spindles.

The company earlier contemplated approaching the capital market
in April 1993 by way of PCD issue, which was deferred due to the
disruption of the capital market due to bomb blast in Bombay.

2005

-The Company has recommended a dividend of Rs 3.50/- per share of face value of Rs 10/-.

2006

-The Company has recommended a dividend of Rs 5 per share of face value of Rs 10.

2007

-The Company has recommended a dividend of Rs 5 per share of face value of Rs 10 each.

2008

-The Company has recommended a dividend of Rs 2 per share of face value of Rs 10 each.

2011

-The Company recommended a final dividend of Rs. 2 per equity share of Rs. 10 each.

2012
-The Board has inducted Sri S. Gnanasekharan, as an independent director.

2014
-Sri S. Vijay Shankar has been designated as Chief Financial Officer of the Company.
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