S. P. APPARELS Share price

The Company was incorporated in Avinashi Tamil Nadu as S.P. Apparels Limited a public limited company under Part IX of the Companies Act 1956 pursuant to a certificate of incorporation dated November 18 2005 that was issued following an application to convert M/s S.P. Apparels a partnership firm into a company. The partnership firm was originally formed pursuant to a partnership deed dated December 14 1988. Subsequently pursuant to a partnership deed dated November 7 2005 the partnership was further reconstituted by the declaration of the partnership as a joint stock company. The joint stock company was thereafter converted into a public limited company pursuant to a certificate of incorporation dated November 18 2005. Major EventsThe table below sets forth some of the key events in the history of the Company:1989-Started export operations as a partnership firm1998-Set-up the own manufacturing facility at Neelambur2001-Commissioning of the first wind energy generator2003-Set-up first in-house embroidery facility at Thekkalur2004-Set-up the flagship factory at Avinashi with full garment conversion process (from cutting to packing)2005-Conversion of the partnership firm to the Company-Set-up first in-house printing facility at Avinashi2006-Acquisition of majority shareholding in CPPL pursuant to a share transfer agreement dated May 24 2006 and a memorandum of understanding dated May 24 2006 executed among CIPL CPPL the Company and Shivarams Associates Private Limited-Addenda to the Technology License Agreement dated May 16 2006 executed by the Subsidiary CPPL with Crocodile International Pte Limited in 1996 for the use of the ‘Crocodile’ brand2007-Acquisition of the ‘Natalia’ brand pursuant to an agreement dated February 20 2007-Amalgamation of S.P. TexFab Private Limited with the Company pursuant to a Scheme of Amalgamation sanctioned by the High Cthet of Madras with effect from March 21 20072008-Amalgamation of Sri Balaji Bakkiam Spinning Mills with the Company pursuant to a Scheme of Amalgamation sanctioned by the High Cthet of Madras with effect from May 13 2008-Acquisition of the retail division from CPPL on a going concern basis2009-Reschedulement of term loan facilities from State Bank of Mysore and State Bank of Indore. The facility availed from State Bank of Indore has been repaid by the Company subsequently.2010-Formulation and implementation of a foreign exchange policy for the Company2011-Sale of wind mills owned by the Company to Maple Renewable Power Private Limited pursuant to a slump sale agreement dated December 23 20112013-Investment by Euro Asia pursuant to the Investment Agreement2014-Incorporation of a wholly-owned subsidiary SPUK in the United Kingdom-Reschedulement of term loan facility from Andhra Bank2015-Execution of the Sub-Licensing Agreement with the Subsidiary CPPL to manufacture distribute and market products under the ‘Crocodile’ brand-Transfer of 12 retail stores by Poornam to the Company pursuant to the Slump Sale Agreement Awards Certifications and RecognitionsWe have received the following awards certifications and recognitions:2006-Awarded “Outstanding New Vendor” by The Children’s Place (Disney Store North America)2007-Received ‘Worldwide Responsible Apparel Production’ certification2009-Recognized as ‘Star Export House’ by the Government of India-Awarded “Trading Fairly Award” by TESCO for setting benchmarks in Tirupur for labor standards compliance investing in workers and supporting community projects2010-Awarded “Tamil Nadu State Government Safety Award 2010” by the Directorate of Industrial Safety and Health Government of Tamil Nadu for the least number of accidents2011-Awarded “Tamil Nadu State Government Safety Award 2011” by the Directorate of Industrial Safety and Health Government of Tamil Nadu for the least number of accidents-Awarded “Best Newcomer” by Marks & Spencer Children’s Suppliers Awards 20112012-Awarded “Values Award” by TESCO2013-Awarded “F&F Gold Rated Supplier 2013” by TESCO-Received laboratory accreditation ISO/IEC 17025:2005 by the National Accreditation Board for Testing and Calibration Authorities Department of Science and Technology India2014-Received ISO 9001:2008 systems certification-Received laboratory testing accreditation by one of the customers