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KLRF Ltd. Company History and Annual Growth Details

YEAR EVENTS
1961 - The company was incorporated on 16th December, as a private
limited company at Ganaikondan in Tirunelveli district of Tamil
Nadu. In 1978, the then board of directors floated one more unit
in the name and style of 'KLRF Sheet Metal Industries' at
Gudalore in Coimbatore district. The company was converted into
a public limited company on 8th May, 1982.

- The main object of the company is to manufacture flour, flour
milling machinery design and fabrication of electrical panel
board and cotton spinning.

- The company further diversified its activities by setting up a
cotton yarn spinning mills with a registered capacity of 25,000
spindles at Gangaikondan.

1981 - 8,000 shares of Rs. 100 each were issued as Rights in Propn. 1:1
on 20th October. 16,000 shares issued in prop. 1:1 on 12.4.1982.
Shares then sub-divided.

1983 - During November, 3,07,500 No. of euqity shares of Rs. 10 each
issued to the public (Prem. Re. 1 per share). Allotment made in
January.

1987 - Quantity of wheat milled was marginally lower at 32,840 tonnes
mainly due to non-availability of wheat crop by virtue of drought
situation.

- To improve the profitability of the textiles division, a new open
end spinning mill was established at Sattur, a notified backward
area in the Kamarajnagar district of Tamil Nadu.

1988 - The flour mill division incurred a loss due to higher interest
and transportation costs caused by purchase of wheat in open
markets from North India.

- The company undertook to establish an Open End Spinning Unit at
Sattur, an industrially notified backward area.

1989 - Constraints in the availability of raw material, price
fluctuation, movement restriction and credit restrictions
resulted in uneconomical working of the flour mills division.
Performance of the sheet metal division improved and the
modernisation programme of the unit was expected to be completed
during the year.

- The company allotted 14% secured non-convertible debentures
aggregating to Rs. 80 lakhs on private placement basis to LIC,
GIC, United India Insurance Co. Ltd. and Oriental Insurance
Company, Ltd.

- With effect from 1st April, the company relinquished partnership
in M/s. Eltex Computer Services.

1990 - The working results of the flour mill division improved
considerably despite unfavourable conditions like partial credit
restrictions and periodic changes in the wheat distribution
policy. Turnover of the sheet metal division and textile
division represently increased with compared to the previous
period.

- The company undertook the modernisation of the textile division
at Gangaikondan

1991 - The order book position of the sheet metal division was not
satisfactory due to inventory adjustment by the cusotmers.
Turnover of the textile division dropped due to high cotton
prices and consequent increase in stock value and interest
thereon.

- The company proposed to issue non-convertible debentures
aggregating to Rs. 90 lakhs on private placement basis to Canbank
Mutual Fund.

1993 - The sheet metal division was able to substantially reduce the
losses despite continued recession for major part of the year.

1994 - The flour mill division and sheet metal division registered
profitable operations. The sheet metal division despatched the
first batch of coffee roasting machines. But for the steep hike
in prices of cotton and yarn the overall working could have been
still better.

- One wind electric generator was commissioned and the second one
was under erection.

- 12,55,000 Bonus Equity shares issued in propn. 1:1.

1995 - Expansion was reported to be in progress at the open end spinning
unit. One more open end unit was proposed to be installed to
augment the production of coarse count yarns for handloom and
power loom section.

2008

-Kovilpatti Lakshmi Roller Flour Mills Ltd has informed that the name of the Company has been changed from 'Kovilpatti Lakshmi Roller Flour Mills Ltd' to 'KLRF Ltd'.
 
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