Eastern Silk Industries Share price

Eastern Silk Industries Limited (ESIL) was incorporated inthe state of West Bengal on 9th April 1946 under theCompanies Act 1913 in the name of Eastern SilkManufacturing Company Ltd. The Certificate forcommencement of business was obtained on 25th April 1946.The company was thereafter converted into a PrivateLimited Company in the name of Eastern Silk ManufacturingCompany Private Limited on 12th June 1956. The companywas again converted to a Public Limited company in the nameof Eastern Silk Manufacturing Company Limited and freshcertificate of incorporation consequent to change of namewas issued by the Asst. Registrar of Companies West Bengalon 26th July 1975. The name of the company was furtherchanged to "Eastern Silk Industries Limited" and a freshcertificate of incorporation consequent on change of nameissued by the Asst Registrar of Companies West Bengalwas obtained on 12th August 1975.Present BusinessThe company is presently engaged in the manufacture andexport of silk fabric and made-ups like scarves garmentsetc. with an installed capacity for the production of 40.5lac metre per annum of fabric and 150 m. tones p.a. dyedyarn.ESIL is recipient of outstanding export performance awardin the year 1993-94 from Government of India Ministry ofCommerce and certificate of meritorious performance in theexport of natural silk goods during 1990-91 1992-93 and1993-94 from the Indian Silk Export Promotion Council(sponsored by the Government of India).ESIL is involved in an integrated production facility ofsilk products starting from reeling of yarn from cocoons tofinished silk. ESIL procures the cocoons from the southernpart of India and Madhya Pradesh. The yarn is reeled on acontract basis by the various units in different villagesin the cottage industry sector. The reeled yarn is senteither directly in to company''s process house at Noida fordyeing or given to Eastern Enterprises Ltd. (EEL) a whollyowned subsidiary of ESIL. Around 50% to 60% of the yarnrequirement is imported mainly from China Brazil and CIScountries. After the weaving of the fabric ESIL processesand finishes the fabric at its process house at Noida. Themade-ups like scarves etc. are mainly manufactured inNaraina in New Delhi.Production facilities of ESILNOIDA (U. P.)This is a processing unit which processes and finishes allthe fabrics made all over the country for final luster andglaze to be fit for the export market. The Company hasalso got printing facility at Noida for scarves. Theannual production capacity at Noida is roughly 40.5 lacmetres of fabric and 150 MT of yarn.Besides the above facilities at Naraina (New Delhi) theCompany has its own Garments Division where garments aremade as per design of various customers.CALCUTTAThe company has entered into leather manufacturing forexport and has its manufacturing unit at Calcutta forprocessing and value addition of leather goods.The Company is also a merchant exporter. ESIL in the pasthas exported soyameal shrimps and silk waste.Trading HouseESIL has been recognised as a `Trading House'' in accordancewith the provisions of the import Policy by the Governmentof India Ministry of Commerce Office of the ChiefController of Imports & Exports. The validity of thecertificate is from 1st April 1993 to 31st March 1996.The benefits of recognised trading house are as follows:a) entitlement of Special Import Licence (SIL) for 5% onFOB value of exports realised in the preceding licensingyear. 1% extra SIL is permitted to exporters of handloomand handicraft products including silk products providedthe export of these products is more than 50% of theirtotal export.b) Under the Zero-Duty EPCG scheme the facility ofexemption from execution of bank guarantee and clearance ofCapital Goods on execution of a Bond without bankguarantee.