PARMESHWARI SILK MILLS LI Share price

The Company was incorporated on 8th January 1993 as aprivate limited company with the Registrar of CompaniesPunjab H.P. Chd. vide certificate of incorporation no.16-12917 in the name of M/s Parmeshwari Silk Mills Pvt.Ltd. Later on it was Converted into Public Limited Companyw.e.f. 20.02.95. The Registered office of the company issituated at Village Bajra Rahon Road Ludhiana.The company was promoted by S. Parmjit Singh S.Jatinder PalSingh and Mrs. Prabhpreet Kaur. They are the originalsubscribers and first Directors to the Memorandum andArticles of Association.The company has installed 7 imported Sulzer Weavingmachines and indigenous machines after availing term loanof Rs.87 lacs from Punjab Financial Corp. It started thecommercial production on 4th March 1994 and ismanufacturing suitings & shirtings of differentqualities. The brand name of Suiting is RAMTEX. The companyhas achieved the turnover of Rs. 257 lacs in the year1994-95 and 136 lacs from April 95 to September 95 (6 months). The detail of the original project was as under:Cost of Project Rs.in Lacs.1.Land 0.352.Building 11.303.Plant & Machinery 102.004.Contingencies 6.255.Pre-operative Exp. 9.506.Margin for working capital 15.60 145.00Means of Finance1 Promoter contribution 58.002.Term loan from PFC 87.00 145.00There had been no cost & time overrun in setting up theoriginal project. Till date the company has not faced anylabour problem etc.There has not been any default/reschedulement in regard toTerm Loan.The promoters were already engaged in manufacture ofTextile Suitings under the name & style of M/s. Mann SilkMills Pvt. Limited.