Salona Cotspin Share price

The Company was incorporated as a Private Limited Companyon 18.01.94 with the Registrar of Companies CoimbatoreTamilnadu and was subsequently converted into a PublicLimited Company on 23.12.94. The registered office of theCompany was changed from 23-A Ramalinga Nagar 4th CrossSaibaba Colony Coimbatore to SF No.74/12 & 75/3 SathyMain Road Poongampalli Village Sathyamangalam with effectfrom 27/10/95 where the company''s factory is located.SCL''s main objects are to carry on the business ofmanufacturers of combed and karded cotton yarn for directexport. SCL is setting up a unit with an installedcapacity of 12096 spindles at S.F No 74/12 75/3 Sathy MainRoad Poongampalli Village Sathyamangalam Taluk PeriyarDistrict near Coimbatore (a State notified backward area)to manufacture cotton yarn for local and export markets. The Company has commenced the trading of yarn in the localand export market and achieved a turnover of Rs. 304.78lakhs during the period 01/04/95 to 31/12/95 and the profitbefore tax for the same period was Rs. 20.54 lakhs. The Company will not carry on with the work of trading incotton yarn after commissioning of the proposed project.