Ambika Cotton Mills Ltd Share Price

History of Ambika Cotton Mills Ltd

Promoted by P K Ganeshwar, M Rathanasamy and P V Chandran, Ambika Cotton Mills Limited (ACML), was incorporated as Ambika Cotton Mills Private Limited on 6 October, 1988 and subsequently converted into a Public Limited company on 5 September, 1994. The Company is engaged in the manufacture of cotton yarn and knitted fabrics (i.e) core textile products that serve as essential inputs to the global apparel and textile industry. 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 Tiru ...nelveli, Dharapuram and Theni in the State of Tamil Nadu. ACML's 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 30's to 40's. 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 increase the existing capacity by 9072 spindles to 21168 spindles and modernise its process by installing an autoconer. It has already commissioned the expansion project. ACML plans to instal four more autoconers to enable it to export 100% production. The company commenced a modernisation cum balancing scheme envisaging modernisation of Unit-I and addition of certain balancing equipment in Unit-II at an estimated cost of Rs.1,370 lakhs.The total programme had been assisted by a Term Loan under TUFS to the exten of Rs.1050.00 lakhs by IDBI. During the year 2002, the Company's productive capacity was further strengthened by adding 6720 spindles in Unit - II. The Company put in manufacturing operation of Compact Spinning Cotton Yarn by fixing such spinning systems over the existing Ring Frames coupled with strengthening of back processing and modernization of Unit - I and Unit - II of the Company costing Rs 11.12 Crores during 2002-03. The Unit III first phase of the Company viz., 14,112 Spindles along with 100% Wind Energy Captive power became fully operational during 2006. The Unit III exapansion of the Company viz 10080 spindles got completed during 2007 costing Rs 28.42 Crores. It further modernized Unit II through replacement of Autoconers costing Rs 7.12 Crores during 2007. During 2017, the Company installed one no. of 800 Kw of Enercon make Wind Machine for captive consumption and resulting to this, the total installed wind capacity was enhanced to 13.8 MW from 13.0 MW. The spindle capacity which came into operation so far as up to 31.03.2008 amounted to 26400 spindles. During 2009, the Company expanded 43,200 Spindles in a separate Unit IV and the total investment amounted to Rs. 139.73 Crores. It installed the wind energy for captive consumption by installation of 2 Nos. of Wind Machine of 800 KW costing Rs.8.39 Crores. Resulting to completion, the total Spinning Plant capacity enhanced to 109872 spindles and the wind energy capacity was enhanced to 1 5.4 MW from. 13.8 MW. The Company completed and put into operation the expansion of Wind Power Capacity by 12MW and the total wind Power Capacity was enhanced to 27.4 MW in 2011. It implemented EHT facility (110 KVA Sub-Station) costing Rs 6.49 Crores during 2014.