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Super Sales India Ltd. Company History and Annual Growth Details

1981 - The Company was incorporated on 18th September. The Company is
engaged in Erection and marketing of textile machinery, carrying
out leasing business and manufacture of yarn.

- The Company entered into marketing of textile machinery
manufactured by M/s. Lakshmi Machine Works Ltd. Therefore, the
Company undertook leasing activity primarily of generators to
meet the requirements of small scale industries. The Company was
appointed by Lakshmi Machine Works Ltd., as one of their sole
selling agents.

1982 - The Company received a letter of offer for starting a spinning
mill of 25,000 spindles capacity and orders for machinery were
placed with M/s. Lakshmi Machine Works Ltd.

1983 - The Company opted to purchase an existing spinning unit rather
than establish one. With this view, the Company purchased a
spinning unit with 31,104 spindles. This unit engaged in
spinning staple fibre was to be converted to cotton partially.

1984 - 50,000 shares were allotted as bonus shares in prop. 1:1 in

1985 - 2 Nos. additional cristallina cards and one cone winder were
installed in addition to the existing two cards, one high speed
draw frame and one open end spinning machine.

- 25,650 No. of Equity shares allotted for cash at par.

1987 - The Company announced a retirement scheme in response to which
about 410 employees opted out in August September 1988.

- 2,00,000 Bonus equity shares issued in prop. 1:2.

1988 - 9,00,000 No. of Equity shares then issued (prem. Rs 10 per share)
of which 45,000 shares were reserved for allotment on a
preferential basis to employees/workers of the Company (only
20,900 shares taken up). The remaining 8,55,000 shares, along
with 24,100 shares not taken up by employees, were offered for
public subscription during April-May 1989.

1991 - 15,00,000 No. of equity shares of Rs 10 each of a premium of Rs
40 per share allotted to shareholders on Rights basis and 71,500
No. of Equity shares of Rs 10 each at a premium of Rs 40 each
allotted to employees under Stock Option Scheme.

1994 - Modernisation programme was undertaken at GKD Textiles Unit at
Othakkal Mandapam in phases.

1995 - The Textile Division suffered a setback as a result of rough
weather faced by the Textile Industry as a whole.

1996 - The performance of the textile division was affected due to yarn
price fluctuation on account of sluggish demand for yarn and low
off-take in the market. In Agency division sales of textile
machinery was affected due to general recession and also due to
lesser restriction on import of second hand textile machinery.
Sales in Machine Tool division was also affected due to
availability of cheaper imported machinery in the market.

1997 - The performance of the Company was adversely affected due to
excess cotton crop and sluggish market conditions.


- Super Sales India Ltd has appointed Sri. J Raghupathy as Additional Director to the Company's Board.
Oct 24, 12:00 am
Oct 24, 4:14 pm
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