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Ambika Cotton Mills Ltd.

BSE: 531978 Sector: Industrials
NSE: AMBIKCO ISIN Code: INE540G01014
BSE LIVE 15:40 | 28 Apr 1326.85 -4.45
(-0.33%)
OPEN

1335.00

HIGH

1335.00

LOW

1300.00

NSE 15:31 | 28 Apr 1316.45 -28.75
(-2.14%)
OPEN

1349.70

HIGH

1349.70

LOW

1300.00

OPEN 1335.00
PREVIOUS CLOSE 1331.30
VOLUME 1514
52-Week high 1418.00
52-Week low 765.00
P/E 14.54
Mkt Cap.(Rs cr) 760.29
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1335.00
CLOSE 1331.30
VOLUME 1514
52-Week high 1418.00
52-Week low 765.00
P/E 14.54
Mkt Cap.(Rs cr) 760.29
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Ambika Cotton Mills Ltd. (AMBIKCO) - Company History

Promoted by P K Ganeshwar, M Rathanasamy and P V Chandran, Ambika Cotton Mills Limited (ACML), was incorporated as Ambika Cotton Mills Private Ltd on 6 Oct.'88 and subsequently converted into a public limited company on 5 Sep.'94. ACML's plant located in Dindigul, Tamil Nadu, with an initial capacity of 6048 spindles, commenced operations in Jan.'90. In 1992, the company implemented its expansion plan to double its spindleage to 12096 spindles and the same was successfully completed in Mar.'93. ACML added comber machines to its production line and humidification systems in 1994, funded by SIPCOT through a term loan of Rs 90.86 lac. The company manufactures combed and carded cotton yarn of counts ranging from 30's to 40's. During Jun.'96 ACML came out with an offer for sale of 15.15 lac equity shares of Rs 10 each for cash at a premium of Rs 68 aggregating Rs 1181.70 lac to part finance its expansion plan to increase the existing capacity by 9072 spindles to 21168 spindles and modernise its process by installing an autoconer. It has already commissioned the expansion project. ACML plans to instal four more autoconers to enable it to export 100% production. The company commenced a modernisation cum balancing scheme envisaging modernisation of Unit-I and addition of certain balancing equipment in Unit-II at an estimated cost of Rs.1,370 lakhs.The total programme had been assisted by a Term Loan under TUFS to the exten of Rs.1050.00 lakhs by IDBI.