Shiva Mills Ltd Share Price

History of Shiva Mills Ltd

Shiva Mills Limited was originally incorporated as STYL Textile Ventures Limited on November 24, 2015 at the Registrar of Companies, Tamil Nadu, Coimbatore. Pursuant to the Scheme of Arrangement, the name was changed to Shiva Mills Limited vide fresh Certificate of Incorporation upon the change of name dated August 29, 2017 obtained from the Registrar of Companies, Tamil Nadu, Coimbatore. The Company is engaged in manufacturing & marketing of cotton yarn products. The Company has a spinning unit near Dindigul, Tamil Nadu with an installed capacity of 39072 spindles and 22 Windmills with an installed capacity of 10.65 MW. The Company's spinning unit was started in the year 1989 with factory located at Dindigul, Tamil Nadu. It established strong brand loyalty especially in major knitting ...centers like Tirupur and Upcountry. The Company exported around 20% - 30% of cotton produced to Far East countries. The unit modernized at periodical intervals by availing Term loans under Technology Upgradation Fund (TUF) Scheme. The unit is equipped with some of sophisticated machinery like LMW V4 Cards, Rieter SB D22 Drawframe, Rieter E35 Omega Lap, Rieter E80 Combers, Saurer AC6 Autoconer, Sussen Compact System for ring frames. The unit installed sophisticated testing equipments to test the quality parameters of cotton as well as yarn to maintain quality standards. The unit implemented ISO 9001: 2000 Standards certified by Det Norske Veritas, Netherlands for quality standards. In 2004, the Company started first wind farm project at Sankaneri in Tirunelveli Dist. of South Tamil Nadu, by installing 5 Nos of 1250 KW wind mills, in one of the predominant wind park in the state. In 2005, the Company installed 16 more wind mills in Palghat Pass near Palladam, having capacity of each 225 KW. It had a well-trained team of engineers and staff for operation and maintenance of these wind farms to achieve maximum generation. Later during the year 2010, the Company added one more wind mill of 800 KW, with latest technology, near Dharapuram. While retaining yarn, the Company ventured into captive power, becoming cost efficient by combating uncertainties in the availability of energy. It installed 22 wind mills, having cumulative capacity of 10.65 MW in the best windy sites of Tamil Nadu. In 2017, a Scheme of Arrangement between Shiva Texyarn Limited and the Company and their respective Shareholders and Creditors, for demerger of a standalone spinning unit of Shiva Texyarn Limited relating to the said unit with a capacity of 10.65 MW located at Dindigul District, Tamil Nadu was demerged into the Company and the Scheme of Demerger came into effect from April 01, 2015 with the effective date on August 29 2017. In terms of the said Scheme, Shiva Texyarn Limited were allotted 86,41,808 equity shares of Rs.10/- each on 23.11.2017 in the ratio of 2 fully paid-up equity share of Rs.10/- each in the Company viz., Shiva Mills Limited for every 5 equity share of Rs.10/- each fully paid-up, held in the Shiva Texyarn Limited. Consequently Shiva Texyarn Limited ceased to be the Holding Company of the Company. The Company became subsidiary of M/s Annamallai Retreading Company Private Limited, Promoter Company, with effect from 21.2.2022, consequent to inter-se transfer of 42,03,546 equity shares of Rs.10/- each i.e., 48.64% from M/s Vedanayagam Hospital Private Limited, another Promoter Company, thereby constituting 72.17% in aggregate of the Paid-up Share Capital of the Company during the period 2021-22.