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Pioneer Embroideries Ltd. Company History and Annual Growth Details

1991 - The company was incorporated on 25th october, under the companies
Act, 1956 in the state of Maharashtra at Mumbai. The company has
been incorporated to setup facilities to design and manufacture
Embroidery Fabrics and Laces with an installed capacity of 324
million stiches per annum at Sarigam near Vapi in Gujarat State.

- The company has been promoted by Raj Kumar Sekhani and Mr Baid
Pioneer has an installed capacity of 1572m stitches with 43
machines (including those of the group concerning J J Textiles)
working at full capacity for producing embroidered cloth of
different width and length.

1994 - The company is also proposing to enter into high value added
garment business as a part of forward integration.

- During the year under review, the company entered the capital
market and offered 28,10,000 Equity Shares of Rs. 10/- each for
cash at par aggregating Rs. 281.00 lacs on 14th Sept-1993, for
subscription to the Indian Public & NRI.

1995 - The R&D department has successfully developed 'chemical laces' (a
very high value added & import substitute product).

1997 - The company's products are positively corelated with the fashion
industry. The Company's products are part & parcel of the
fashion industry.

- The company has taken up expansion project at Silvassa by
importing 12 computerised embroidery machines having installed
capacity of 46 lac metres p.a.

- The Authorised Capital of the Company is proposed to be increased
from Rs. 5,00,00,000/- to Rs. 8,00,00,000/- to facilitate issue
of further shares to meet part of capital cost of expansion
project of the company at Silvassa.

1998 - The manufacturing capacity is enhanced due to installation of 12
Fully Computerised Embroidery Machines to enlarge the product

- The Company has issued 16,50,000 Equity Shares of Rs. 10/- each
for cash at par aggregating Rs. 165 Lacs on preferential basis to
the Promoter-Directors, their Relatives & Associate Concerns on
28th February.

- The Company has carried out R & D in the area of product
development, capital reduction.

1999 - Pioneer Embroideries Ltd of Mumbai has entered into an agreement
to acquire a total of 46,00,000 equity shares (representing 40.14
per cent of the paid-up equity capital) of Rs. 10 each of Salzer
Textiles Ltd (STL) from Interspitzen AG, Switzerland and
Sturzenegger Lingenschaften AG, Switzerland, at a price of Rs.
0.95 per share.

2000 - Pioneer Embroideries Ltd will sign a memorandum of understanding
(MoU) for marketing its products abroad through the South Korean
company, Moojin International Ltd.

- Pioneer Embroideries, manufacturer of embroidery and fashion
garments accessory products, is taking over Coimbatore-based
Sulzer Textiles, a loss making export oriented embroidery
manufacturing unit (EoU).

- Pioneer is also setting up the world's largest crochet lace plant
by installing 364 machines (needles for crochet) which has been
financed by SICOM.

2002-Sicom withdraws nomination of T A N Devalkar from the Board of Pioneer Embroideries.


-Pioneer Embroideries Limited has appointed Mr. Shashikant G. Kedia as Company Secretary of the Company w.e.f. 2nd January, 2008.

- Pioneer Embroideries Ltd has appointed Mr. Narendra Kumar Jain as Company Secretary of the Company w.e.f. September 15, 2008. He is also appointed as Compliance Officer of the Company for the purpose of Clause 47 of the Listing Agreements.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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