Maris Spinners Ltd Share Price

Summary

Maris Spinners Ltd was incorporated as a Private Limited Company on 18 Sep.79. The Company became Deemed Public in 1994. In 1995 it became a Public Limited Company and was promoted by M Thangavelu, M Rengaswamy and their Associates. The Company is a leading spinning mill manufacturing high quality yarn for the domestic market with interests in Wind Energy Generation for captive use. The Company is headquartered in Chennai. The Company situated in the backward area of Hunsur Taluk, Mysore District, Karnataka, had started its commercial production on 9th March 1981, with an installed spindlage of 11856; which increased to 24672 spindles in 1991. In year 1995, the Companys second unit with 14112 spindles, was commissioned at Manaparai Taluk, Tiruchirappalli District in Tamil Nadu. Both the units undergo regular modernization and expansion. The present capacity at Hunsur is 28704 spindles and at Manaparai it is 17472 spindles. The Group has interests in Tea Estates, Hotels, and Green power generation etc., as well. In 1994, the company set up two wind turbine generators (WTGs) at Muppandal, Tamilnadu. In Mar.95, it installed three more WTGs. The company came out with a public issue in Dec.95 to part-finance is modernisation programme and also to set up a second spinning unit at Manaparai, Tamilnadu, with a capacity of 14,112 spindles, which will take the total spinning capacity to 38,784 spindles.
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