1962 - The Company was incorporated in Palakad, Kerala in the name
Premier Cotton Spinning Mills Ltd. for production of Cotton
with an installed capacity of 12,096 spindles. It was
by Late N. Damodaran, V. N. Ramachandran and L.G.
Production of cotton yarn commenced in 1964.
1981 - The installed capacity was increased in a phased manner, and
reached 50,628 spindles.
1985 - The name of the Company was changed to Precot Mills Ltd.
1991 - A second mill i.e. `B' Unit was set up at Kodigenahalli in
Hindupur Taluk of Andhra Pradesh with an initial capacity of
28,800 spindles which was expanded to 51,840 spindles.
1992 - The Company set up an 100% EOU i.e. Unit `C' at Walayar,
Palghat District in Kerala with an installed capacity of
spindles and 384 rotors. The main objective of the company is
manufacture of cotton yarn.
- The Company set up its 100% EOU at Walayar, Kerala with the
installation of 10,080 spindles and 384 rotors.
- 30,00,000 No. of equity shares issued, subscribed and
(Of these 26,25,000 shares were allotted as bonus shares).
1993 - During the Company undertook a modernisation-cum-expansion
programme involving an outlay. During the year, the Company
undertook to set up a open End project i.e. `D' Unit with
1994 - During the Company issued 5 lakh shares of Rs. 10 each at a
premium of Rs. 430 per share with Indian and foreign
institutions. Also, the warrants of Rs. 2 lakh each was
to promoters which would entail them 10,000 equity shares of
10 each at a premium of Rs. 10 each on their exercise on
- 10,00,000 No. of equity shares allotted in lieu of warrants
2.8.94. Another 5,00,000 shares issued to Foreign
1995 - The Company's open end unit i.e. `D' was commissioned in
September and it reached its full capacity in December.
- 15,00,000 Rights Equity shares issued in March. (Propn. 1:3
Prem. Rs. 10).
1996 - Unfortunately a fire accident destroyed the cotton and yarn
godown in January though no damage was reported to man or
-Precot Mills recommended a dividend of 35%.
-Increase the authorised Share Capital of the Company to 9 Crores
-Company name has been changed from Precot Mills Ltd to Precot
-The company has designated E-mail ID for Investor Complaints:
-The company have recommended a Dividend 50%
--The company have recommended a Dividend 100%
-Precot Meridian Ltd has announces bonus in the Ratio of 1:2
-The first unit of Precot Meridian Limited completed its 50 years