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Sambandam Spinning Mills Ltd.

BSE: 521240 Sector: Industrials
NSE: SAMBANDAM ISIN Code: INE304D01012
BSE LIVE 15:38 | 17 Aug 135.50 -2.50
(-1.81%)
OPEN

138.10

HIGH

139.00

LOW

135.50

NSE 00:00 | 29 Jan Stock Is Not Traded.
OPEN 138.10
PREVIOUS CLOSE 138.00
VOLUME 2725
52-Week high 163.50
52-Week low 83.10
P/E 7.00
Mkt Cap.(Rs cr) 58
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 138.10
CLOSE 138.00
VOLUME 2725
52-Week high 163.50
52-Week low 83.10
P/E 7.00
Mkt Cap.(Rs cr) 58
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Sambandam Spinning Mills Ltd. (SAMBANDAM) - Company History

Incorporated in 1973, S P Ratnam is the chairman and S P Sambandam is the managaging director of the company. SSL manufactures yarn at its three spinning mills in Tamilnadu, of which two are in Salem district and one in Coimbatore district. SSL allotted bonus shares in the ratio of 1:2 in May '94. Subsequently, in Aug.'94, it offered rights at a premium of Rs 40 per share. Presently, the total installed spinning capacity of the mill is 47,356. SSL went public in Jan.'95 at a premium of Rs 40 to part-finance its expansion programme to have an installed capacity of 50,460 spindles. This is likely to be completed in Mar.'97. The company started a windmill project from Sep.'95, to generate 225 kW power, at Poolavadi in Coimbatore district. In 1995-96, SSL earned foreign exchange worth Rs 33 lac. During 1996-97, due to uptrend in the price of Yarn and Cotton, the company is not in a position to hazard any favourable change in the profitability of the company. In 1996-97, SSL earned foreign exchange worth Rs. 98 Lacs. In May 1998, the company was awarded the ISO 9002 Qality Accreditation certificate by SGS, a testimony for quality work processes. During the year 1999-2000, the Company availed term loans from financial institutions towards working capital to an extent of Rs. 1070 lakhs and repaid term loans to an extent of Rs. 316 lakhs. The Company also incurred capital expenditure of Rs. 187 lakhs during the year.