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Pioneer Embroideries Ltd. Company History and Annual Growth Details

YEAR EVENTS
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
range.

- 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.

-Pioneer acquires Hakoba brand, deal seen at Rs 12 cr

-Pioneer Embroideries takes over Sulzer Textiles.

2001

-Pioneer Embroideries Board approves formation of 100% subsidiary in UAE & Nigeria.

2003

-PEL's Hakoba brand inaugurates fashion gallery in Secunderabad

2004

-Pioneer starts manufacturing of Hakoba knits

-Pioneer Embroideries - Starting of 15th Retail Shop under brand "Hakoba"

2005

-Pioneer Embroideries acquires South Korean factory unit for $3 mn

-Pioneer Embroideries enters into agreement with BCCL for investment in its WOS

-Pioneer Embroideries has given the Bonus in the Ratio of 1:2

-The Company has recommended a dividend @ 20% i.e. Rs 2.00 per equity share

2006

-Pioneer Embroideries Ltd has informed that the Company has acquired Mas Embroideries Pvt Ltd, a manufacturer of Embroidered Fabrics and Laces situated at Maneshar, Gurgaon.

-The Company has recommended a dividend @ 15% i.e. Rs. 1.50 per equity share

2007

-The Company recommended Dividend @ 15% on Equity Shares of the Company.

-the Company has entered into a Development Agreement with Sunteck Realty & Infrastructure Ltd, for Development of its property, situated at Hakoba Compound, Western Express Highway, Borivali (East), Mumbai.

-The Commercial Production of Polyester Dope Dyed Yarn Plant of the Company as set up at Kala Amb. Dist. Sirmaur in Himachal Pradesh has been started.

2008

-Pioneer Embroideries Limited has appointed Mr. Shashikant G. Kedia as Company Secretary of the Company

- 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.

2009

--Registered Office of the Company has been shifted from Hakoba Compound, Western Express Highway, Borivali West, Mumbai - 400066 to Unit No 101B, 1st Floor, Abhishek Premises, Plot No C5-6, Dalia Industrial Estate, Off. New Link Road, Andheri West, Mumbai 400058

2011

-Mr. C.V. Ramana has been appointed as an Additional Director on the Board of the Company. He is a Non-Executive Independent Director on the Board with effect from May 06, 2011. Also, Mr. C.V. Ramana has been Co-opted as member of the Audit Committee with effect from May 06, 2011.

2012

- Mr. Uday V. Nemlekar has been appointed as Compliance Officer of the company.

2014

-Mr. Shriprakash Jain has been appointed as Chief Financial Officer (CFO) of the Company.

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