Precot Ltd Share Price

Summary

Promoted by N Damodaran, Precot Ltd (Formerly known Precot Meridian Limited) was incorporated in June, 1962 in Palakad, Kerala, to produce cotton yarn with an initial capacity of 12,096 spindles. The Company made its maiden issue in 1962. The first production of cotton yarn commenced during 1964 with an initial capacity of 12,096 spindles at Kanjikode, Kerala. The company changed its name to the present one in 1985. At present it has units in the four southern states of India viz., Tamil Nadu, Kerala, Andhra Pradesh and Karnataka with a total spinning capacity of 2,25,000 spindles and 960 rotors.PML set up its second mill in Kodigenahalli, Andhra Pradesh, with an installed capacity of 28,800 spindles which was expanded to 51,840 spindles in 1991. In the next year, PML set up a 100% EOU at Walayar, Kerala (inst. cap. 10,080 spindles and 384 rotors).The open end spinning unit of the company was commissioned in Sep.95 which reached its full capacity of 1152 rotors. It has set up a wholly owned subsidiary in Malaysia to exploit the Asia-Pacific region. During 1996-97, PML has increased the installed capacity of Spindles by 6336 Nos. CGF Investments which was a Subsidiary of the company and now has been merged with Coimbatore General Finance which is another subsidiary of the company with effect from 1st Feb.97.A new yarn dyeing unit with a capacity of 2 tonnes per day was commissioned in Gauribindur, Karnataka which enabled the company to enhance its sale of value added dyed yarn
Read More