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Seasons Textiles Ltd.

BSE: 514264 | NSE: | Series: NA | ISIN: INE707B01010 | SECTOR: Textiles - Weaving

BSE Live

Oct 21, 16:00
7.46 -0.39 (-4.97%)
Volume
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202
10-Day
776
30-Day
934
5
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    7.85

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    7.46

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  • Offer Price (Qty.)

    7.46 (665)

NSE Live

Dec 27, 11:22
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Seasons Textiles is not listed on NSE
Company History - Seasons Textiles
YEAR                       EVENTS
 1986 - Seasons Textiles Limited (STL) was incorporated as a Public
        Limited Company on 20th April and obtained a certificate for
        Commencement of Business on 21st May.  The main objective of
        the company is to manufacture furnishing fabrics.
 
      - The Company has been promoted by Shri Nanak Singh, Shri
 Inderjeet
        Singh Wadhwa and Smt. Neelam Wadhwa.  Shri Nanak Singh had
 been
        running a partnership business in the name and style of M/s
 Singh
        fabrics with an installed capacity of 40,000 metres per annum.
  
 
      - Considering the export potential of the product, the
 promoters
        decided to shift manufacturing activities to the organised
 sector
        and formed STL to install additional six automatic shuttleless
 
        looms, procured from M/s SOMET S.p.A Italy with installed
        capacity of 3,40,000 metres furnishing fabrics per annum with
        financial assistance from PICUP.  
 
      - The company also took over the entire running business of
 M/s.
        Singh Fabrics.  Subsequently, the installed capacity was
        increased to 5,80,000 metres per annum with financial
 assistance
        from Canara Bank.  
 
 1992 - The improved performance was attributed to maximum capacity
        utilisation and introduction of new fabric designs.
 
 1995 - During the year the company introduced a number of
        designs/textures with various variants.  However the margins
 were
        under pressure due to reasons like interest costs, increase
 in
        the manufacturing overheads due to ageing of looms and
 increase
        in sampling costs for exports.
 
      - 9,99,500 No. of equity shares issued, subscribed and paid-up.
        42,70,000 No. of equity shares were issued through a
 prospectus
        in Feb. 1993 of which 10,70,000 shares were reserved and
 allotted
        to promoters, directors etc. (only 890,800 shares taken up). 
 Of
        the remaining the following were reserved for allotment on a
        preferential basis:
 
      - (i) 15,000 shares to employees (only 2,300 shares taken up),
 
      - (ii) 12,50,000 shares to NRIs (all were taken up).
 
      - Balance 19,5,000 shares issued to the public along with
 12,700
        shares not taken up by employees issue to the public (all
 were
        taken up).
 
 1997 - The company undertook to expand the manufacturing capacity by
        creating additional manufacturing capacity of 2,60,000 mts.
 p.a.,
        increase the installed capacity to 8,40,000 mts. p.a. of
        furnishing fabrics at Noida dist. Ghaziabad.
 
      - The existing plot of land would house the looms, but the
        preparatory, finishing and packing sections would be shifted
 to
        another plot of land procured at B-19, sector-V, Noida, U.P.
        about 60 metres away from the existing plant.
 
 2009
 
 --Registered Office of the Company has been shifted to 61, Ring Road
 (Ground Floor), Lajpat   Nagar-III, New Delhi - 110024.
 2011
 -Registered Office of the Company has been shifted From 61, Ring
 Road, (Ground Floor), Lajpat Nagar - III,  New Delhi 110024 To D -29,
 Defence Colony, (Ground Floor) New Delhi: 110024.
 
 2011
 -Registered Address of the Company has been changed From 61, Ring
 Road, (Ground Floor), Lajpat Nagar - III,  New Delhi 110024 to D -29,
 Defence Colony, (Ground Floor) New Delhi: 110024.