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S Kumars Nationwide > Company History > Textiles - Synthetic & Silk > Company History of S Kumars Nationwide - BSE: 514304, NSE: SKUMARSYNF
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S Kumars Nationwide

BSE: 514304|NSE: SKUMARSYNF|ISIN: INE772A01016|SECTOR: Textiles - Synthetic & Silk
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Company History - S Kumars Nationwide
YEAR                                                     EVENTS
 1948 - S. Kumars Group was founded in 1948 by Shri Abhayakumar
 Kasliwal and Shri. 
              Shambhukumar Kasliwal by establishing textile
 distribution network and subsequently
              commencing textile manufacturing activities.
 
 1990 - The Company has incorporated as a private limited company on
 28th September, under the 
              Companies Act, 1956 and has became a deemed Public
 Company under Section 43 A (I)
               w.e.f. 28th Feb 1991.
 
           -  The Company has became a simplicitor public Company,
 vide special Resolution Passed
                on 7th July 1992 and fresh certificate of change of
 name as issued on 28th September 1993.
               It is engaged in the business of trading in
 synthetic/blended fabrics.
 
            -  With a view to meet the growing demand for its product,
 S. Kumars Synfabs Ltd. has 
               acquired shuttleless looms and other plant from S.
 Kumar Enterprises (Synfabs) Ltd.
               and is instaling further shuttleless looms and other
 equipment at Dewas and setting up
               texturising and twisting plant at Pithampur in Madhya
 Pradesh.
 
            - S. Kumars Synfabs Ltd. was promoted keeping in mind the
 S. Kumars Group overall
              corporate strategy and given objectives of segregating
 the export business from the
               local business. 
 
            - S. Kumars Synfabs Limited is promoted by the group with
 the intention of making it the
               flagship company of the group's synthetic textile
 business.
 
           - S. Kumars Synfabs Ltd. was promoted by S. Kumar
 Enterprises (Synfabs) Ltd. and
               commenced its business in September.
 
 1992 - The Group has also established its presence in the Middle East
 and the U.K./European 
              markets. The Group exported goods worth Rs.15 crores in
 the year.
 
            - S. Kumars Group is among the early business houses that
 ushered in the widespread
               use of Polyester and polyester blends in apparel fabric
 in India, introduced 100% Polyester
               sarees and used Acrylic fibre in everyday Suitings and
 Shirtings.  It was also among the
               first Textile Groups to take up systematic textile
 marketing by establishing a widespread
               network of dealers and retailers, and regularly
 advertising its products.  It was amongst
                the first to establish India as a sourcde of fashion
 blended fabric in the United Kingdom.
 
             - The rights issue of 19,54,000 equity shares of Rs. 10/-
 each at a premium of Rs. 25/-
                aggregating to Rs. 683.90 lacs, has been fully
 subscribed and the allotments have been 
                made on 12th October.
 
 1993 - The Public Issue of 38,50,000 Equity Shares of Rs.10/- each at
 a premium of Rs.26/- per
              share aggregating Rs.1,386 lakhs and issue of 1,66,000
 Zero interest Zero dividend
              Convertible Preference Shares (CPS) of face value of
 Rs.100/- each at par aggregating
              Rs.166 lakhs has been oversubscribed. 
 
 1994 - The Company has privately placed 10 lacs Non Convertible
 Debentures of Rs.100/- each
              aggregating to Rs.10 crores, with the Industrial
 Development Bank of India and the Unit Trust of
               India to complete the means of finance of the expansion
 project undertaken by the Company.
 
 1997 - The Company has acquired from Standard Industries Limited, a
 spinning- cum-weaving
               unit situated near Dewas in M.P.  The unit has an
 installed capacity of 38,564 Spindles
               and 64 Sulzer double width shuttleless weaving
 machines.
 
             - The Company is setting up a state-of-the-art Worsted
 mill near Mysore in Karnataka
 
 1998 - The Company has entered into a technical and marketing
 collaboration with Reid & 
              Taylor of Scotland for manufacturing and marketing of
 exclusive worsted suitings.
 
 1999 - The company has signed an agreement with National Securities
 Depository Limited (NSDL)
               for joining the Depository System, which facilitates
 scripless trading. 
 
            - The Company has, introduced a novel concept in
 distribution called Direct to Retail - DTR.
 
            - The Company has successfully privately placed 762 lakhs
 equity shares of Rs.10 each, 
               partly paid up with a premium of Rs.5.09.  During the
 year, the Company has also placed
               333 lakhs equity shares at a premium of Rs.5.09. 
 
 2000 
 
 -S Kumars Synfabs, the Rs 600 crore synthetic-textiles company has
 decided to extend its Reid & Taylor brand to ready-to-wear segment.
 
 - Rs 600 crore textile major S Kumars Synfab has signed Bollywood
 sensation Hrithik Roshan to be their new brand ambassador for an
 undisclosed sum to mark their entry into the readymade apparel
 market. 
 
 -Chennai high court has, through an interim injunction, prevented S
 Kumars from using the brand name `Cinnamon'
 
 -S. Kumars Synfabs Ltd has appointed Andersen Consulting to review
 its product portfolio in different market segments and maximise the
 company's strengths in marketing  brand building and brand creation.
 
 
 2001
 
 -S Kumar's Synfabs, has been forced to launch a new ready-to-wear
 brand, 
 
 - ICRA has downgraded the Rs 50 crore non-convertible debenture issue
 of S Kumars Nationwide to inadequae safety lBB rating from the
 previous lA.
 
 - promotes Shree Maheshwar Hydel Power project in Madhya Pradesh has
 secured a 2.60 million (about Rs 610 crore) loan from the Power
 Finance Corporation (PFC)
 
 2002
 
 -Mr Vijay Kalantri appointed as an Additional Director
 
 - Mr. G A Nayak  appointed by UTI as Nominee Director and Mr. R K M
 Prasad has been appointed by IFCI Ltd., as Nominee Director on the
 Board of the company vice Mr. Kamal Kishore. 
  
 2002
 
 -The Board of Directors of S Kumars.Com Ltd held on January 24, 2002
 Mr Vijay Kalantri             has been appointed as an Additional
 Director of the company.
 
 2003
 
 -Downgraded by ICRA `LBB' for its Rs 50 cr non-convertible debenture
 (NCDs) under rated `LD', indicating default.
 
 -Shri Sanjeev Ghai has been appointed by IFCI Ltd., as Nominee
 Director on the board of the company vice Shri R K M Prasad with
 effect from August 18, 2003
 
 2004
 
 -  The company delists its equity shares from Madhya Pradesh Stock
 Exchange Ltd, the Delhi Stock Exchange Association Ltd, and the
 Ahmedabad Stock Exchange.
 
 2006
 
 -S Kumars wires in Alok Banerjee as CEO of textiles arm.
 
 2007
 
 -S.Kumars Nationwide Ltd has appointment Shri. Anil Channa as an
 additional and executive director.
 
 -S.Kumars Nationwide Ltd has has appointed Shri. Vijay Kalantri and.
 Smt. Jyoti N Kasliwalthe as Directors.
 
 2010
 
 - S Kumars Nationwide has signed a agreement with Donna Karan
 International to set up a Joint venture for taking care of DKNY's
 men's apparel range. The new joint venture will be responsible for
 the design, production and distribution for the entire range of DKNY
 menswear apparel all across the world except Japan. The life of the
 JV will be for 10 years.
 
 2011
 
 - S. Kumars Nationwide Limited has informed that Shri Meleveetil
 Damodaran has been inducted on the Board as an additional director. 
 Shri Meleveetil Damodaran is retired IAS Officer from Manipur-Tripura
 cadre
 
 
 2012
 
 - HMX Acquisition Corp (SKNL's US subsidiary) files Voluntary
 Application for Capital restructuring.
 
 - Shri Jagadeesh S. Shetty has been elevated as functional Director
 designated as Director Finance and Group Chief Financial Officer.
Source : Dion Global Solutions Limited
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