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Kovilpatti Lakshmi Roller Flour Mills > Company History > Food Processing > Company History of Kovilpatti Lakshmi Roller Flour Mills - BSE: 507598, NSE: KLRF
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Kovilpatti Lakshmi Roller Flour Mills

BSE: 507598|NSE: KLRF|ISIN: INE014E01015|SECTOR: Food Processing
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Company History - Kovilpatti Lakshmi Roller Flour Mills
YEAR                       EVENTS
 1961 - The company was incorporated on 16th December, as a private
        limited company at Ganaikondan in Tirunelveli district of
 Tamil
        Nadu.  In 1978, the then board of directors floated one more
 unit
        in the name and style of `KLRF Sheet Metal Industries' at
        Gudalore in Coimbatore district.  The company was converted
 into
        a public limited company on 8th May, 1982.
 
      - The main object of the company is to manufacture flour, flour
        milling machinery design and fabrication of electrical panel
        board and cotton spinning.
 
      - The company further diversified its activities by setting up
 a
        cotton yarn spinning mills with a registered capacity of
 25,000
        spindles at Gangaikondan.
 
 1981 - 8,000 shares of Rs. 100 each were issued as Rights in Propn.
 1:1
        on 20th October.  16,000 shares issued in prop. 1:1 on
 12.4.1982. 
        Shares then sub-divided.
 
 1983 - During November, 3,07,500 No. of euqity shares of Rs. 10 each
        issued to the public (Prem. Re. 1 per share).  Allotment made
 in
        January.
 
 1987 - Quantity of wheat milled was marginally lower at 32,840
 tonnes
        mainly due to non-availability of wheat crop by virtue of
 drought
        situation.
 
      - To improve the profitability of the textiles division, a new
 open
        end spinning mill was established at Sattur, a notified
 backward
        area in the Kamarajnagar district of Tamil Nadu.
 
 1988 - The flour mill division incurred a loss due to higher
 interest
        and transportation costs caused by purchase of wheat in open
        markets from North India.
 
      - The company undertook to establish an Open End Spinning Unit
 at
        Sattur, an industrially notified backward area.
 
 1989 - Constraints in the availability of raw material, price
        fluctuation, movement restriction and credit restrictions
        resulted in uneconomical working of the flour mills division.
 
        Performance of the sheet metal division improved and the
        modernisation programme of the unit was expected to be
 completed
        during the year.
 
      - The company allotted 14% secured non-convertible debentures
        aggregating to Rs. 80 lakhs on private placement basis to
 LIC,
        GIC, United India Insurance Co. Ltd. and Oriental Insurance
        Company, Ltd.
 
      - With effect from 1st April, the company relinquished
 partnership
        in M/s. Eltex Computer Services.
 
 1990 - The working results of the flour mill division improved
        considerably despite unfavourable conditions like partial
 credit
        restrictions and periodic changes in the wheat distribution 
        policy.  Turnover of the sheet metal division and textile
        division represently increased with compared to the previous
        period.
 
      - The company undertook the modernisation of the textile
 division
        at Gangaikondan
 
 1991 - The order book position of the sheet metal division was not
        satisfactory due to inventory adjustment by the cusotmers. 
        Turnover of the textile division dropped due to high cotton
        prices and consequent increase in stock value and interest
        thereon.
 
      - The company proposed to issue non-convertible debentures
        aggregating to Rs. 90 lakhs on private placement basis to
 Canbank
        Mutual Fund.
 
 1993 - The sheet metal division was able to substantially reduce the
        losses despite continued recession for major part of the
 year.
 
 1994 - The flour mill division and sheet metal division registered
        profitable operations.  The sheet metal division despatched
 the
        first batch of coffee roasting machines.  But for the steep
 hike
        in prices of cotton and yarn the overall working could have
 been
        still better.
 
      - One wind electric generator was commissioned and the second
 one
        was under erection.
 
      - 12,55,000 Bonus Equity shares issued in propn. 1:1.
 
 1995 - Expansion was reported to be in progress at the open end
 spinning
        unit.  One more open end unit was proposed to be installed to
        augment the production of coarse count yarns for handloom and
        power loom section.
 
 2005
 
 -Kovilpatti Lakshmi has recommended 15% dividend
 
 2006
 
 -KLRF enters into metal manufacturing
 
 2007
 
 -The company has designated E-mail ID for Investor Complaints:
 cosec@klrf.in
 
 2008
 
 -Kovilpatti Lakshmi Roller Flour Mills Ltd has informed that the name
 of the Company has been changed from Kovilpatti Lakshmi Roller Flour
 Mills Ltd to KLRF Ltd.
 
 
 
 
 
Source : Dion Global Solutions Limited
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