Suryalakshmi Cotton Mills Limited was incorporated inAugust 1962. The Company commenced commercial operationsin 1964 with a capacity of 6000 spindles for manufactureof Cotton and Blended Yarn. The Company has 2 SpinningMills - one at Mahabubnagar and another at Amanagallu bothin Andhra Pradesh.The Company made a Public issue of 140948 equity sharesof Rs.10/ - each in August 1963. It issued in aggregate80959 Preference shares of Rs.10/- each in the years 19631964 1967 and 1976 which were fully redeemed in 1985 1986and 1989. In March 1976 the Company allotted 30000 equityshares of Rs.10/- each to IFCI on its exercising its rightto convert a part of its loan to equity.The Company has made the following bonus issues:-----------------------------------------------------------No. of equity shares of Rs.10/- each Ratio Year----------------------------------------------------------- 281628 1:1 1985 563256 1:1 1992 2253024 2:1 1994-----------------------------------------------------------The Companys shares are presently listed at HyderabadAhmedabad Bombay Madras New Delhi and National StockExchanges.Production and Sales During the last three decades theCompany through phased expansion programmes increased itsspindleage from 6000 to 61776 spindles.In the last three years the company has embarked on majormodernisation programmes at a total cost of around Rs.40crores. which have resulted in scrapping of old ring framesand their replacement with new ones of differentspindleage. The present installed spindleage is 57888spindles. Though there has been a marginal reduction inspindleage the production nevertheless has increased dueto increased capacity utilisation as a result ofmodernisation.As a part of the modernisation programmes in addition toreplacing old ring frames the Company has also installedmodern machinery like high production cards auto levellerdraw frames and autoconers. Besides humidification systemshave also been improved with a view to improve quality aswell as productivity.The Company''s products are well accepted in the domesticand international markets. Production and sales trends aresummarised below:Export Performance: Modernisation has enabled the companyto improve the quality of its products resulting inprogressive increase of export sales from 1993. The companyhas been accorded the status of Recognised Export House fora period of 3 years w.e.f. 1.4.1996 by Ministry ofCommerce Govt. of India. The company exports its yarn toKorea Vietnam Sri Lanka Spain Belgium Malaysia andBangladesh. In 1994-95 its exports were Rs. 1181 lakhswhich constituted 19% of net sales for that year. In1995-96 its exports amounted to Rs. 2264 lakhs being 26%of net sales for the period. Growth in exports isillustrated by the following chart:Product range: As a result of modernisation programmes inthe last 3 years the company has facilities for producingquality products conforming to internationalspecifications. It also has the manoeuverability to producedifferent types of yarn - 100% cotton as well as blendslike Polyester cotton and Polyester viscose. Its productmix has different counts from 20s to 40s and can be broadlyclassified as Carded Hosiery Combed Hosiery Melange andBlended yarns viz Polyester Viscose and Polyester Cottonyarns.The Company has been successfully increasing the share ofvalue added products like Melange yarn. The followingcharts illustrate break-up of production:Value addition: Due to the increasing share of value addedproducts and improved quality of yarn due to modernisationthe average sales realisation of the Companys products havegone up from Rs. 65.80 in 1992-93 to Rs. 110.35 in 1995-96resulting in an increase of 68%. Due to steep increase incotton prices the average cost of raw materials hasexperienced a rise ot 70% in the last four years viz fromRs. 32.90 in 1992-93 to Rs.55.95 in 1995-96.The effect on value added per Kg being PBIDT per Unit ofsale of Yarn is indicated below:Company does not have any subsidiaries.
Name | Position |
---|---|
Mr. L N Agarwal | Chairman & Managing Director |
Mr. Paritosh K Agarwal | Managing Director |
Mr. R Surender Reddy | Director |
Mr. Dhruv Vijai Singh | Director |
Ms. Aruna Prasad | Director |