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Eastern Silk Industries Ltd.

BSE: 590022 | NSE: EASTSILK |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE962C01027 | SECTOR: Textiles - Synthetic & Silk

BSE Live

Oct 22, 16:00
4.32 -0.22 (-4.85%)
Volume
AVERAGE VOLUME
5-Day
27,369
10-Day
110,661
30-Day
61,517
16,942
  • Prev. Close

    4.54

  • Open Price

    4.32

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    4.32 (1)

NSE Live

Oct 22, 15:55
4.35 -0.20 (-4.40%)
Volume
AVERAGE VOLUME
5-Day
64,572
10-Day
170,874
30-Day
110,526
39,114
  • Prev. Close

    4.55

  • Open Price

    4.35

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    4.35 (200)

Company History - Eastern Silk Industries
Eastern Silk Industries Limited (ESIL) was incorporated in the state
 of West Bengal on 9th April, 1946, under the Companies Act 1913, in
 the name of Eastern Silk Manufacturing Company Ltd.  The Certificate
 forcommencement of business was obtained on 25th April, 1946. The
 company was, thereafter, converted into a Private Limited Company in
 the name of Eastern Silk Manufacturing Company Private Limited on
 12th June, 1956.  The company was again converted to a Public Limited
 company in the name of Eastern Silk Manufacturing Company Limited and
 fresh certificate of incorporation consequent to change of name was
 issued by the Asst. Registrar of Companies, West Bengal on 26th July,
 1975.  The name of the company was further changed to Eastern Silk
 Industries Limited and a fresh certificate of incorporation
 consequent on change of name issued by the Asst, Registrar of
 Companies, West Bengal, was obtained on 12th August, 1975.
 
 Present Business
 
 The company is presently engaged in the manufacture and export of
 silk fabric and made-ups like scarves, garments etc. with an
 installed capacity for the production of 40.5 lac metre per annum of
 fabric and 150 m. tones p.a. dyed yarn.
 
 ESIL is recipient of outstanding export performance award in the year
 1993-94 from Government of India, Ministry of Commerce and certificate
 of meritorious performance in the export of natural silk goods during
 1990-91, 1992-93 and 1993-94 from the Indian Silk Export Promotion
 Council (sponsored by the Government of India).
 
 ESIL is involved in an integrated production facility of silk
 products starting from reeling of yarn from cocoons to finished silk.
  ESIL procures the cocoons from the southern part of India and Madhya
 Pradesh.  The yarn is reeled on a contract basis by the various units
 in different villages in the cottage industry sector.  The reeled yarn
 is sent
 either directly in to company's process house at Noida for dyeing or
 given to Eastern Enterprises Ltd. (EEL), a wholly owned subsidiary of
 ESIL.  Around 50% to 60% of the yarn requirement is imported mainly
 from China, Brazil and CIS countries.  After the weaving of the
 fabric, ESIL processes and finishes the fabric at its process house
 at Noida.  The
 made-ups like scarves etc. are mainly manufactured in Naraina in New
 Delhi.
 
 Production facilities of ESIL
 
 NOIDA (U. P.)
 
 This is a processing unit which processes and finishes all the
 fabrics made all over the country for final luster and glaze to be
 fit for the export market.  The Company has also got printing
 facility at Noida for scarves.  The annual production capacity at
 Noida is roughly 40.5 lac
 metres of fabric and 150 MT of yarn.
 
 Besides the above facilities, at Naraina (New Delhi) the Company has
 its own Garments Division where garments are made as per design of
 various customers.
 
 CALCUTTA
 
 The company has entered into leather manufacturing for export and has
 its manufacturing unit at Calcutta for processing and value addition
 of leather goods.
 
 The Company is also a merchant exporter.  ESIL in the past has
 exported soyameal, shrimps and silk waste.
 
 Trading House
 
 ESIL has been recognised as a `Trading House' in accordance with the
 provisions of the import Policy by the Government of India, Ministry
 of Commerce, Office of the Chief Controller of Imports & Exports. 
 The validity of the certificate is from 1st April, 1993 to 31st
 March, 1996.
 
 The benefits of recognised trading house are as follows:
 
 a) entitlement of Special Import Licence (SIL) for 5% on FOB value of
 exports realised in the preceding licensing year.  1% extra SIL is
 permitted to exporters of handloom, and handicraft products including
 silk products provided the export of these products is more than 50%
 of their total export.
 
 b) Under the Zero-Duty EPCG scheme, the facility of exemption from
 execution of bank guarantee and clearance of Capital Goods on
 execution of a Bond without bank guarantee.
 
 2002
 
 -ESI Ltd have recommended dividend @ 10%
 
 2004
 
 -Eastern Silk establish fabric manufacturing facility at Anekal
 
 2006
 
 -Eastern Silk Industries has recommended dividend @ 35% 
 
 2008
 
 - The Company has splits its face value from Rs10/- to Rs2/-.
 
 2009
 
 -Board has recommended a dividend of Rs.0.20per equity share.
 
 2010
 
 -Board has recommended a dividend of Rs.0.12per equity share.