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1.5 (2.65%)| Company History - Suryalata Spinning Mills | |
YEAR EVENTS
1983 - The Company was incorporated on 23rd May as a public limited
company and obtained the Certificate of Commencement of
Business
on 1st June. It is a subsidiary of Suryavanshi Spinning
Mills
Ltd., Hyderabad and was promoted by L.N. Agarwal. The main
objective of the company is to manufacture of yarn.
- The Company undertook to set up a spinning mill at
Kalwakurthy,
a notified backward area in the Mahabubnagar district of
Andhra
Pradesh. Industrial licence was obtained for installation of
17,312 spindles and 1,699 rotors for manufacture of yarn.
1988 - Authorised capital reclassified and increased. 20,000 No. of
equity shares offered at par to the public in January 1989.
1989 - To overcome the power situation, one 750 KVA diesel generator
set was installed.
- Licence was received for the setting up of one more spinning
unit in Bangalore, Karnataka with a licensed capacity of
24,960
spindles and 670 rotors for manufacture of cotton and
man-made
fibre yarns.
1991 - Authorised capital increased.
1992 - The Company undertook the modernisation of its Kalwakurthy
Unit
with a cost of 700 lakhs by adding most modern machinery like
Autocone Winders, RSB Daw Frames etc.
- 13,80,000 shares allotted (prem. Rs. 15 per share) in
conversion
of zero interest fully convertible debs.
1993 - Installation of 7,200 spindles was in progress and these were
expected to go into commercial production by October.
1994 - Company has taken up expansion programme to install
additional
6048 and 3600 spindles at its Kalwakurthy and Ramtek Units
respectively
.
2003
-Suryalata Spinning Mills Ltd allotted 70250 Cumulative Redeemable
Preference Share of Rs 100 each.
2004
-Suryalata Spinning Mills Ltd has informed that the BoD of the
Company at its meeting held on January 19, 2004 has allotted 25,000
Cumulative Redeemable Preference Shares (CRPS) of Rs. 100/- each
aggregating to Rs. 25,00,000.
2005
-Suryalata Spinning Mills has given the Bonus in the Ratio of 1:2
-The company recommends dividend @ 18%
2006
-The company recommends dividend @ 20%
2007
-Suryalata Spinning opens New Plant at Urukondapet, Andhra Pradesh
-Suryalata Spinning has designated E-mail ID for Investor Complaints:
cs@suryalata.com
2010
-The company recommends dividend @ 20%
2011
-The company recommends dividend @ 30%
2012
-The company recommends dividend @ 15%
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| Source : Dion Global Solutions Limited | |
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