Amarjothi Spinning Mills Ltd Share Price

Summary

Incorporated in Dec.87, Amarjothi Spinning Mills (ASM) was converted into a public limited company in Dec.91. It is promoted by the Jaichander R. The Company is engaged in the business of manufacturing of Yarn. It has own processing unit for yarn and fiber and own Wind Power generation plants which are mainly used for own captive use. ASM went public with its maiden issue in Jan.93 to part-finance a spinning mill to manufacture cotton yarn (inst. cap. : 12,096 spindles) in Pudusuripalayam, Tamilnadu. To meet part of the project cost, ASM issued secured NCDs worth Rs 2.20 cr on a private placement basis. For cotton spinning, the company has adopted the ring spinning system. The company has installed the latest textile machineries including blow room, carding machines, draw frames, simplex frames and ring frames from Lakshmi Machine Works and autoconers with electronic clearers and automatic splicers from Schlafhrost (India). ASM completed its first full year of operations in 1994-95, after raising capital through a public issue. In 1996-97 the installed capacity has been increased by 6016 spindles to 18992 spindles.Modernisation programme has been availed by the company to the tune of Rs.340.00 lacs under the Technology Upgradation Fund Scheme.During 2000-2001 the company had gone for expansion of Spindles to the extent of 4752 spindles.M/s. Amarjothi Power Generation and Distribution Company Limited, which incorporated as a subsidiary, ceased to be a subsidiary of the Company
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