Ambika Cotton Mills Ltd Share Price

Summary

Promoted by P K Ganeshwar, M Rathanasamy and P V Chandran, Ambika Cotton Mills Limited (ACML), was incorporated as Ambika Cotton Mills Private Ltd on 6 Oct.88 and subsequently converted into a public limited company on 5 Sep.94.The Company is engaged in manufacturing and selling speciality cotton yarn catering to the needs of manufacturers of premium branded shirts and t-shirts. It operates with total installed spindle capacity of 108288 of compact facility housed in four units and Knitting facility of converting 40,000 Kgs of yarn per day into fabrics. The Company has installed 27.4 MW wind power capacity for captive consumption of spinning segment. The Spinning Plants are located at Kanniyapuram, Dindigul and Windmills are located in Tirunelveli, Dharapuram and Theni in the State of Tamil Nadu. ACMLs plant located in Dindigul, Tamil Nadu, with an initial capacity of 6048 spindles, commenced operations in Jan.90. In 1992, the company implemented its expansion plan to double its spindleage to 12096 spindles and the same was successfully completed in Mar.93. ACML added comber machines to its production line and humidification systems in 1994, funded by SIPCOT through a term loan of Rs 90.86 lac. The company manufactures combed and carded cotton yarn of counts ranging from 30s to 40s. During Jun.96 ACML came out with an offer for sale of 15.15 lac equity shares of Rs 10 each for cash at a premium of Rs 68 aggregating Rs 1181.70 lac to part finance its expansion plan to increas
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