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Samrat Spinners Ltd.

BSE: 503243 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Samrat Spinners Ltd
NSE 05:30 | 01 Jan Samrat Spinners Ltd

Samrat Spinners Ltd. (SAMRATSPINNERS) - Company History

Samrat Spinners Ltd (SSL) formerly known as Sree Satyam Spinning and Weaving Mills is a part of the Satyam group which also manages Satyam Computers. The company, in 1987, discontinued the production of cotton yarn and switched over to the production of synthetic yarn due to the grim situation that prevailed in the cotton yarn market. The company established itself in the synthetic market and also entered into the specialised field of high twist yarn. From Feb.'88, the company started exporting to European countries. It was awarded The Best Export Effort in the State award from the Government of Andhra Pradesh for 1988-89. In 1992, the company took up the production of acrylic yarn and grandrelle yarn, which was accepted well in the market. The company has also increased its captive generation capacity, whereby it can meet 100% power requirement. During the year 1999-2000, the operations of the company improved significantly due to establishement of higher quality standards and earned a cash profit of Rs.61.74 lakhs. Considering the advantages of exports, the company has also converted its unit into 100% E.O.U. During 2000-01, the spinning unit of the company has been converted into 100% EOU in terms of sanction received from VEPZ. As per the sanctioned terms, the unit has to export entire production. However as per the current Exim policy, the unit can sell upto 50% of FOB value of the export in Domestic Tariff Area. Exports to Thailand,Italy and Indonesea had already commenced and other European and Asian markets are also being explored.