KANDAGIRI SPINNING MILLS Share price

Kandagiri Spinning Mills Limited (KSML) was incorporated on 5thMay 1976 under The Companies Act 1956 under the name of "TheAmmapet Sizing Mills (P) Limited". Later on the name waschanged to "Kandagiri Spinning Mills (P) Limited" pursuant tospecial resolutions passed on 17th April 1978. The change ofname was approved by the Central Government under Section 21 ofthe Act and a fresh Certificate of Incorporation dated 15thJuly 1978 was obtained. The word "Private" was deleted underthe provisions of Section 43 A (2) of the Act with effect from1st January 1989 and the Company has become full fledged Publiccompany with effect from 21st November 1992. The companycommenced commercial production in 1979 with an InstalledCapacity of 3260 Spindles.The spindlage has been increased by utilising internal accrualsand borrowings over the years as under. Year Installed Capacity 1983 10400 1986 18700 1988 23500 1991 24652 1993 28492 1994 33212As on 07/09/1994 the Company has an Installed Capacity of 38012Spindles.The company earlier contemplated approaching the capital marketin April 1993 by way of PCD issue which was deferred due to thedisruption of the capital market due to bomb blast in Bombay.