APM Industries Ltd Share Price

History of APM Industries Ltd

Incorporated in 1974, APM Industries, a Company belonging to the Rajgarhia Group, is engaged in the manufacture and selling of Man-made Fibre's Spun Yarn and Sewing Thread. In 1993, the company implemented a modernisation-cum-balancing programme at its existing unit whereby, the installed spindleage increased from 19,136 to 20,608. The additional spindles were operational by mid-1994. The company has been expanding its capacity since 1990 --from 16,256 spindles to nearly 20,000 spindles. Most of the capital investments for these expansion programmes were met out of internal accruals. In 1994, the company envisaged to set up a separate unit with a capacity of 9600 spindles at an estimated capital investment of Rs 1600 lac. The project was implemented in two phases -- the first phase ...comprising 6720 spindles. In 1995-96, the company registered an increase of 57% in the gross sales. But there has been only marginal increase in net profit due to significant increase in financial charges and sharp increase in the raw material cost. The Company has successfully implemented modernisation-cum-balancing equipment scheme at its spinning mill at Bhiwadi. The Company has installed a power plant of 2.5 MW capacity during the year 1999-2000 to reduce dependence on grid supply. During 2000-01, the sales of the company has risen to Rs.133.60 crores from Rs.118.97 crores,which was 12.30% higher than the previous year. The Power Division second unit with capacity of 2.5 MW started its commercial production on 08.04.2004. The Company increased its capacity from 45440 to 48320 Spindles and carried out some balancing-cum-modernization during 2007-08. Thereafter, production capacity increased from 50336 to 52976 Spindles during the Financial Year 2015-16. The Company incorporated a wholly owned subsidiary, in the name of APM Finvest Limited and subscribed the 20,00,000 equity shares of Rs.10/- each of APM Finvest Limited on 17th June, 2016. The production capacity increased from 52976 to 55584 spindles during the Financial Year 2016-17. The Company replaced 7632 spindles, along with other balancing machinery for modernization of plant & machinery and completed upgradation of effluent treatment plant to the level of zero liquid discharge in the year 2016-17 During the year 2017-18, Company invested Rs 20 Crores on addition of balancing equipments and modernization & up-gradations of its plant & machinery. It added ewing Thread dyeing & cone/tube winding machines having capacity of 350 MT per year. During the year 2018-19, the Company replaced 4 automatic cone winding machines with 3 imported automatic cone winding machines. The Company has further installed, 1 speed frame machine, 4 two for one twisters, 1 gas fired boiler & other balancing equipment for moderation of plant & machinery. The Company has also installed sewing thread dyeing & cone/ tube winding machine having a capacity 30 MT/ month & developed a new product (sewing thread). During the year 2018-19, the Demerger of Finance & Investment Undertaking of the Company and subsequent amalgamation with its wholly owned subsidiary, APM Finvest Limited through the Scheme of Arrangement was demerged from April 01, 2018. The Board of Directors of APM Finvest Limited allotted 2,16,11,360 Equity Shares of Rs.2/- each, distinctively numbered from 1 to 2,16,11,360 (both inclusive), to the shareholders of the Demerged Company of APM Industries Limited as on the Record Date i.e. June 18, 2019 in the following ratio:- '1 Equity Shares of face value of Rs. 2 each at par in Resulting Company for every 1 Equity Shares of face value of Rs. 2 each held by them in Demerged Company.' With respect to the Scheme of Demerger, APM Finvest Limited ceased to be the wholly owned subidiary of the Company with effect from April 01, 2018. The Company installed 1722 KW ground/ rooftop Solar Power generation Plant, replaced. 33 KV Power supply system to 132 KV power supply system and installed energy efficient heat recovery system and heating Solution for dyeing process in 2019-20.