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Sri Nachammai Cloth Mills > Company History > Textiles - Spinning - Cotton Blended > Company History of Sri Nachammai Cloth Mills - BSE: 521234, NSE: N.A
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Sri Nachammai Cloth Mills

BSE: 521234|ISIN: INE443E01016|SECTOR: Textiles - Spinning - Cotton Blended
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Dec 31, 16:00
10.50
-0.47 (-4.28%)
VOLUME 3,286
Sri Nachammai Cloth Mills is not listed on NSE
Company History - Sri Nachammai Cloth Mills
Sri Nachammai Cotton Mills Limited (SNCM) was incorporated in March
 1980 as a wholly owned subsidiary of The Jawahar Mills Ltd. The
 assets of the Chettinad unit of The Jawahar
 Mills Ltd with an installed capacity of 16,120 spindles were
 transferred to SNCM in May 1980.  A transfer deed for the above
 transfer was executed and registered in March, 1982. The Company
 offered 46,000 equity shares of Rs.10/ each to the Public, after it
 was converted in to a Public Limited Company in June 1982. It ceased
 to be a subsidiary of The Jawahar Mills Limited with the allotment of
 the said 46,000 shares on 9.8.1982.
 
 In September 1984, the Company issued 50,000 equity shares of
 Rs.10/-each for cash at par to the existing shareholders as right
 shares.  since then, the Company has made five Bonus issues -
 
 -----------------------------------------------------------
  1,00,000  equity shares in the ratio of  1 :1  in Mar 1987.
  2,00,000  equity shares in the ratio of  1 :1  in Mar 1989.
  4,00.000  equity shares in the ratio of  1 :1  in Mar 1991.
 21,00,000  equity shares in the ratio of 21 :8  in Apr 1993.
  2,90,000  equity shares in the ratio of  1 :10 in Dec 1994.
 -----------------------------------------------------------
 
 Over the years, the Company has been expanding and modernising its
 plant. All expansions and modernisation schemes completed so far have
 been funded from internal accruals (Rs.63O lakhs) and Long term
 Borrowings (Rs.1,391 Iakhs) from IDBI, SlPCOT and Indian Overseas
 Bank. It has expanded its spindleage from 16,120 spindles in 1980, to
 the present level 34,784 spindles. Modernisation and upgradation has
 enabled the Company to improve the quality of its products and enter
 the export market.  A beginning was made in 1993-94 by merchant
 export of yarn for a value Rs.35.69 lakhs.
 
 The Company manufactures Combed and Carded cotton hosiery yarn of
 counts ranging from 20s to 40s which are used by manufacturers to
 convert the same into fabric or garments for export.
 
 2004
 -The Board of Directors of the Company has declared 10% Dividend on
 the paid up value of equity shares.
 
 2006
 -The Company has declared 12.50% dividend on the paid up value of
 equity shares.
 
 2008
 -The Company have designated the following e-mail ID for grievance
 redressal division / compliance officer exclusively for the purpose
 of registering complaints by investors.
 sncm_compliance@rediffmail.com.
Source : Dion Global Solutions Limited
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