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.
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
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
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
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.
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
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.
-ESI Ltd have recommended dividend @ 10%
-Eastern Silk establish fabric manufacturing facility at Anekal
-Eastern Silk Industries has recommended dividend @ 35%
- The Company has splits its face value from Rs10/- to Rs2/-.
-Board has recommended a dividend of Rs.0.20per equity share.
-Board has recommended a dividend of Rs.0.12per equity share.