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Bannari Amman Spinning Mills Ltd.

BSE: 532674 Sector: Industrials
NSE: BASML ISIN Code: INE186H01014
BSE LIVE 15:40 | 09 Dec 269.65 -3.35
(-1.23%)
OPEN

263.05

HIGH

272.00

LOW

263.00

NSE LIVE 14:56 | 09 Dec 270.00 -0.15
(-0.06%)
OPEN

265.15

HIGH

274.00

LOW

265.00

OPEN 263.05
PREVIOUS CLOSE 273.00
VOLUME 52
52-Week high 348.00
52-Week low 177.00
P/E 24.03
Mkt Cap.(Rs cr) 424.70
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 263.05
CLOSE 273.00
VOLUME 52
52-Week high 348.00
52-Week low 177.00
P/E 24.03
Mkt Cap.(Rs cr) 424.70
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Bannari Amman Spinning Mills Ltd. (BASML) - Company History

Bannari Amman Spinning Mills Ltd, a part of Coimbatore based Bannari Amman Group, is engaged in manufacture of cotton yarn, woven and coated fabrics. The company is also engaged in wind power generation. They are having two spinning units near Dindigul, Tamilnadu with installed capacity of 1,37,232 spindles, Weaving Division near Palladam, Tamilnadu with installed capacity of 135 Looms, and Processing & Technical Textiles near Annur, Tamilnadu with capacity to produce 24 lakh meters of coated fabric per year. The company has 4 windmills of 1250 KVA each totaling 5 MW in Radhapuram Taluk, Tirunelveli District, Tamilnadu and 23 Nos Windmills, each of 800 KW capacity totaling 18.40 MW capacity in Dharapuram Taluk, Tiruppur District and Palani Taluk, Dindigul District, Tamilnadu. The total installed capacity of Windmills is 23.40 MW. The whole of the power generated is captively consumed by the spinning units. The company's product range includes Ne 20/1, Ne 24/1, Ne 34/1 & Ne 40/1 combed and carded knitting cotton yarn and caters to Tiruppur, Calcutta & Kanpur markets. The mill exports 24% of the production to Israel, Mauritius, Egypt, Taiwan and South Korea. The spinning Mill has a manufacturer unit for bed linen, Mattress protector, Pillow protector and more products. Bannari Amman Spinning Mills Ltd was incorporated on July 10, 1989 with the name Shiva Textiles (CBT) Ltd. In September 14, 1986, the company commenced their commercial operations. In October 11, 1991, the name of the company was changed from Shiva Textiles (CBT) Ltd to Bannari Amman Spinning Mills Ltd. In January 1997, the company received their first export order. In October 2001, the company received the ISO 9001:2000 certifications from Det Norske Veritas. In the May 2002, the company was awarded a Certificate of Recognition as an Export House by the Joint Director General of Foreign Trade. In December 2004, the company set up their weaving division with an installed capacity of 28 looms. Also, they invested in captive power generation to meet their internal power requirements. During the year 2005-06, the company came out with a maiden public issue of 70,03,019 equity shares of Rs 10 each at a price of Rs 135 for cash at a premium aggregating to Rs 94.50 crore. The company shares were listed on the Bombay Stock Exchange and National Stock Exchange. During the year 2006-07, the company along with their associates, Shiva Texyarn Ltd entered into a joint venture agreement with Jacob Apparel Ltd and formed a new company, namely Bannari Amman Apparel Pvt Ltd to implement apparel project pursuant to the joint venture agreement. During the year 2007-08, the company completed the expansion project of an installed capacity of 108,000 spindles in the spinning division. They installed a coating unit with a capacity to produce 200,000 metres of coated fabric per month. They also installed a state of the art reactive polyurethane lamination system and is producing breathable-waterproof fabrics used in a variety of applications. They launched a retail product called 'Quick Dry' for adult and child incontinence in domestic market. During the year 2008-09, the company increased the production capacity of Fabric from 128 looms to 135 looms. Also, they increased the production capacity of Wind Energy from 16200 KW to 23400 KW. The company installed 9 Windmills each of 800 KW capacity totaling 7.20 MW capacity near Pushpathur, Dindigul District, Tamilnadu. The company is installing 2 Nos of Enercon make windmills with a capacity of 800 KW each, aggregating 1.60 MW near Chinnapudur, Dharapuram Taluk and 3 Nos of Vestas make windmills with capacity of 1650 KW aggregating 4.95 MW in Kongalnagaram, Udumalpet Taluk, Tiruppur District, in order to meet the increased power requirements of Spinning Divisions.

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