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Shamken Multifab Ltd.

BSE: 514152 Sector: Industrials
NSE: SHAMKNFAB ISIN Code: INE565B01012
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Shamken Multifab Ltd. (SHAMKNFAB) - Company History

Incorporated in Nov.'86 as a public limited company, Shamken Multifab (SML) commenced business in Jan.'87. SML is a part of the Shamken group, promoted by chairman and managing director H B Chaturvedi. Some of the group companies are Shamken Cotspin and Shamken Spinners. In May '93, SML came out with a Rs 9.30-cr rights (1:2) issue of 15% FCDs to part-finance its Rs 13.75-cr expansion-cum-diversification programme. It manufactures and deals in plush fabric, industrial fabric and velvet fabric at its plant located at Kosi Kalan in Mathura district. It produces velvet furnishings of various types namely plain, dobby and jacquard. Because of their international quality standards and competitive prices, these products have been very well received in the market. SML's clientele includes various large OEMs like Hindustan Motors, Maruti and TELCO. The company is setting up a 25,000-spindle joint-sector spinning project along with PICUP and is also diversifying into the manufacture of woven industrial fabric and technical textiles using most modern European equipment. The company project of cotton sheeting, shirting, damask fabrics and knitted velvet has completed its first phase of expansion and diversification and the second phase has been successfully implemented. During 2000-01, 11,50,000 Equity Shares of Rs.10/- each at a premium of Rs.13/- per share aggregating to Rs.2.65 crores were allotted on preferential basis to promoters/promoter group companies/associates. Further, 22,00,000 Equity Shares of Rs.10/- each at a premium of Rs.18/- per share aggregating to Rs.6.16 crores and 51,95,000 Equity Shares with differential rights as to dividend of Rs.10/- each at par aggregating to Rs.5.20 crores were allotted on preferential basis to promoters/promoter group companies/associates. Foreign Technology Transfer Agreement with SUMINOE Textile Company of Japan for the manufacture of Fabric Moqette Flat Woven(Dobby & Jacquard) has also helped the company in engaging new buyers for the Automotive Fabric. During 2000-01,the company has expanded its installed capacity of Sheeting & Shirting from 37,37,300 mtrs to 60,85,100 mtrs.