Enter the first few characters of Company and click 'Go'

Sri Nachammai Cotton Mills Ltd. Company History and Annual Growth Details

Sri Nachammai Cotton Mills Limited (SNCM) was incorporated in March 1980 as a wholly owned subsidiary of The Jawahar Mills Ltd. The assets of the Chettinad unit of The Jawahar
Mills Ltd with an installed capacity of 16,120 spindles were transferred to SNCM in May 1980. A transfer deed for the above transfer was executed and registered in March, 1982. The Company offered 46,000 equity shares of Rs.10/ each to the Public, after it was converted in to a Public Limited Company in June 1982. It ceased to be a subsidiary of The Jawahar Mills Limited with the allotment of the said 46,000 shares on 9.8.1982.

In September 1984, the Company issued 50,000 equity shares of Rs.10/-each for cash at par to the existing shareholders as right shares. since then, the Company has made five Bonus issues -

-----------------------------------------------------------
1,00,000 equity shares in the ratio of 1 :1 in Mar 1987.
2,00,000 equity shares in the ratio of 1 :1 in Mar 1989.
4,00.000 equity shares in the ratio of 1 :1 in Mar 1991.
21,00,000 equity shares in the ratio of 21 :8 in Apr 1993.
2,90,000 equity shares in the ratio of 1 :10 in Dec 1994.
-----------------------------------------------------------

Over the years, the Company has been expanding and modernising its plant. All expansions and modernisation schemes completed so far have been funded from internal accruals (Rs.63O lakhs) and Long term Borrowings (Rs.1,391 Iakhs) from IDBI, SlPCOT and Indian Overseas Bank. It has expanded its spindleage from 16,120 spindles in 1980, to the present level 34,784 spindles. Modernisation and upgradation has enabled the Company to improve the quality of its products and enter the export market. A beginning was made in 1993-94 by merchant export of yarn for a value Rs.35.69 lakhs.

The Company manufactures Combed and Carded cotton hosiery yarn of counts ranging from 20s to 40s which are used by manufacturers to convert the same into fabric or garments for export.

2004
-The Board of Directors of the Company has declared 10% Dividend on the paid up value of equity shares.

2006
-The Company has declared 12.50% dividend on the paid up value of equity shares.

2008
-The Company have designated the following e-mail ID for grievance redressal division / compliance officer exclusively for the purpose of registering complaints by investors. [email protected].

Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article