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Svadeshi Mills Company Ltd.

BSE: 503301 Sector: Industrials
BSE 05:30 | 01 Jan Svadeshi Mills Company Ltd
NSE 05:30 | 01 Jan Svadeshi Mills Company Ltd

Svadeshi Mills Company Ltd. (SVADMILLS) - Company History

The Swadeshi Movement, launched to reduce India's dependence on foreign fabric and to inculcate a spirit of nationalism, gave a fillip to the Indian cotton textile industry. It was the same spirit that saw the birth of the Svadeshi Mills (SML) in 1886, founded by Jamshedji Tata. It is a part of the Tata Enterprise. Today, the mill, true to its founder's philosophy, continues to provide impeccable but reasonably priced suitings, shirtings and dress materials to the domestic and export markets. The mill also manufactures a wide range of non-woven fabric which include print bond light weight interlining (non-fusible and fusible), high loft waddings, filter fabrics, etc. SML has acquired the technology and experience to offer leather garment manufacturers, waddings, of international standards. SML's wholly-owned subsidiary, Coromandel Garments in Chennai, manufactures Cordel shirts and a wide range of readymades including ladies blouses, shorts and jeans. Its products are exported to the US and Europe. The major factors affecting the performance adversely are lack of working capital, steep rise in the raw materials, power and fuel with a further rise in wages. Accordingly in 1999-2000, as per the directions of the BIFR, the company sold the TDR. The operating agency IDBI has forwarded its report to the BIFR, on which the directions are awaited.