Sri Ganapathy Mills Company Ltd Share Price

Summary

The Sri Ganapathy Mills Company (SGMCL) was incorporated in 1946. The main promoters of SGMCL were S S Arunachalam Pillai, S S Alwarappa Pillai and C Somasundaram Pillai. The company was later taken over by in 1976 by managing director K Venkadasamy. Other group firms are Subburaj Cotton Mills and Subburaj Spinning Mills Pvt Ltd. The company came out with a Rs 7.80-cr public issue in Jan.95; to part-finance the expansion, to finance the installation of windmills to co-generate power for captive consumption, etc, all at a project cost of Rs 15.15 cr.SGMCL manufactures cotton yarn of counts varying from 6s to 80s. The companys main clients are Ankut Enterprises, Gayathri Textiles, Santhi Traders, etc. SGMCL plans to install a chute feed system and modern draw frames in its A unit as a part of its modernisation programme. It installed two auto coners to improve the quality of the final yarn produced. Six combers and one lap former will also be installed in the existing units. The company exports cotton yarn to Sri Lanka, Korea, Taiwan, Bangladesh, Singapore, Israel, Philliphines & U.K.
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