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Shamken Spinners Ltd.

BSE: 500386 Sector: Industrials
NSE: SHAMKNSPIN ISIN Code: INE626B01012
BSE 05:30 | 01 Jan Shamken Spinners Ltd
NSE 05:30 | 01 Jan Shamken Spinners Ltd

Shamken Spinners Ltd. (SHAMKNSPIN) - Company History

Shamken Spinners (SSL) was incorporated in Dec.'90. It has been promoted by Shamken Multifab in the joint sector with PICUP. Other group firms are Shamken Multifab and Shamken Cotsyn. It came out with a Rs 12.50-cr public issue in Feb.'94 to part-finance a 100% EOU to manufacture combed cotton yarn (inst. cap. : 24,960 spindles) in UP, to meet a part of working capital margin, etc, at a project cost of Rs 50.50 cr. SSL manufactures yarn and fabric of various types. Its products include cotton yarn of 30s and 40s counts, spindles of 30s count, etc. The company intends to export to east Asia, Europe, etc. Its plant is located in Mathura, UP. SSL is diversifying into the manufacture of fibre dyed acrylic with 8000 spindles. The project is in the final stages of implementation. The company installed 25,000 spindles in May '95. The company's project for the manufacture of Synthetic Yarn with total project cost of Rs 25.39 crores has been implemented and the commercial production on partial capacity started in Oct'96. The company's products are well accepted in the International Market and the company is receiving repeat and consistent orders from its existing buyers. The company is producing the best international quality of cotton as well as synthetic yarn of various counts. To increase capacities of Cotton Yarn the company is embarking on an expansion programme and the project is under implementation. After completion the company is expecting to establish in the export markets.