SEL Manufacturing Company Ltd Share Price

History of SEL Manufacturing Company Ltd

SEL Manufacturing Company Limited was incorporated as Saluja Exim Limited on May 8, 2000 and obtained Certificate of Commencement of Business on June 2, 2000. The Company name was changed to SEL Manufacturing Company Limited on June 27, 2003. Again, the name of the Company was reverted back to Saluja Exim Limited on November 10, 2003 and further to SEL Manufacturing Company Limited on January 31, 2004. Company is a part of the R S Saluja Group of Companies set up by Mr. Ram Saran Saluja. The Company is vertically integrated multi-product textile company, manufacturing various kinds of Knitted Garments, Terry Towels, Knitted & Processed Fabric and various kinds of Yarn with production facilities located Ludhiana and NawanSheher in Punjab, Baddi in Himachal Pradesh and Sehore in Madhya P ...radesh. To cater to target exports markets, the Company has opened representative offices in Russia and Dubai. Presently, majority of garments is exported to Russia and U.A.E. The company has operating with a consolidated capacity to manufacture 6 million garment pieces per annum and capacities in cotton yarn, fabric knitting, and fabric processing & dyeing are at approximately 49,056 spindles (11,088 tons yarns per annum), 4,050 tons per annum of fabric knitting per annum and 3,000 tons per annum of fabric processing & dyeing respectively. The Company was admitted as a 99% partner in M/s S E Exports ('Firm') from April 1, 2005, with two Promoters viz. Mr. Dhiraj Saluja and Mrs. Reema Saluja, as the other two partners with 0.5% stake each vide partnership deed dated April 1, 2005. M/s S E Exports is a partnership firm constituted vide a partnership deed dated May 14, 2001. The Firm has engaged in the business of manufacture of value added knitted garments having production facilities located in the tax free zone in Baddi in Himachal Pradesh. Saluja Processors Private Limited (SPPL) and Saluja Fabrics Limited (SFL) both forming part of the R S Saluja Group were merged with Company w.e.f April 1, 2004. Both SPPL and SFL were involved in the business of spinning, knitting, dyeing & manufacturing of polyester textured yarn, and manufacture and exports of readymade garments. June 2006, the Company has acquired the 100% EOU Spinning Unit of Saluja Cotex Private Limited SCPL). SCPL forms part of the R S Saluja Group of companies and is engaged in the business of textile. In 2007, the company has acquired land & building along with 150 garmenting machines ('assets') of a garmenting unit of Utkarsh Apparels situated in Ludhiana. During the year 2008, the Company had issued and allotted 4138410 Equity Shares through Initial Public Offer (IPO) and 1260800 Equity Shares through Pre IPO placements. It acquired the manufacturing facilities of a unit consisting of installed capacity of 4.5 million pieces of readymade garments. It increased 99% stake into a subsidiary firm, M/s Kudu Industries. The Company set up a Terry Towel Plant with capacity of 10 TPD of Terry Towel, which commenced production in financial year 2008-09. The Company acquired majority stake of 99.75% in SEL Textiles Pvt. Ltd. making it a subsidiary. A new Spinning unit was installed under the subsidiary i.e. SEL Textiles Ltd. in Punjab having the capacity of about 1,88,000 Spindles during year 2010-11. The captive Power Plant was established having capacity of 22MW. The Company acquired majority stake in SEL Ecochem Pvt. Ltd. in July, 2012, making SEL Ecochem Pvt. Ltd. a subsidiary of the Company in FY 2011-12.