Bannari Amman Spinning Mills Ltd Company Summary

Bannari Amman Spinning Mills Ltd Summary

Bannari Amman Spinning Mills Limited was incorporated on July 10, 1989 with the name Shiva Textiles (CBT) Limited . On October 11, 1991, the name of the company was changed from Shiva Textiles (CBT) Ltd to Bannari Amman Spinning Mills Limited. Bannari Amman Spinning Mills Ltd, a part of Coimbatore based Bannari Amman Group, is engaged in manufacture of cotton yarn, woven and coated fabrics. The company is also engaged in wind power generation. The Companys principal line of business is manufacturing and marketing of Cotton Yarn, Woven and Knitted fabrics, Home Textiles, Knitted Garments and Processing of fabrics. The Company has 2 spinning units near Dindigul, Tamil Nadu with an installed capacity of 145440 spindles, Weaving and Home Textiles units at Karanampettai near Palladam with an installed capacity of 153 looms, Processingunit at SIPCOT, Perundurai with an installed capacity to process 5400 tonnes of fabric per annum, Knitting unit at Karanampettai near Palladam with installed capacity to produce 7200 tonnes of knitted fabric per annum, Garment units at Palladam Hi-tech weaving park and 27 Windmills with an installed capacity of 23.40 MW green power which is entirely used for captive consumption. The company has 4 windmills of 1250 KVA each totaling 5 MW in Radhapuram Taluk, Tirunelveli District, Tamilnadu and 23 Nos Windmills, each of 800 KW capacity totaling 18.40 MW capacity in Dharapuram Taluk, Tiruppur District and Palani Taluk, Dindigul District, Tamilnadu. The total installed capacity of Windmills is 23.40 MW. The whole of the power generated is captively consumed by the Spinning Units and Weaving Unit.In September 14, 1986, the company commenced their commercial operations. In January 1997, the company received their first export order. In October 2001, the company received the ISO 9001:2000 certifications from Det Norske Veritas. In the May 2002, the company was awarded a Certificate of Recognition as an Export House by the Joint Director General of Foreign Trade. In December 2004, the company set up their weaving division with an installed capacity of 28 looms. Also, they invested in captive power generation to meet their internal power requirements.During the year 2005-06, the company came out with a maiden public issue of 70,03,019 equity shares of Rs 10 each at a price of Rs 135 for cash at a premium aggregating to Rs 94.50 crore. The company shares were listed on the Bombay Stock Exchange and National Stock Exchange. During the year 2006-07, the company along with their associates, Shiva Texyarn Ltd entered into a joint venture agreement with Jacob Apparel Ltd and formed a new company, namely Bannari Amman Apparel Pvt Ltd to implement apparel project pursuant to the joint venture agreement. During the year 2007-08, the company completed the expansion project of an installed capacity of 108,000 spindles in the spinning division. They installed a coating unit with a capacity to produce 200,000 meters of coated fabric per month. They also installed a state of the art reactive polyurethane lamination system and is producing breathable-waterproof fabrics used in a variety of applications. They launched a retail product called Quick Dry for adult and child incontinence in domestic market.During the year 2008-09, the company increased the production capacity of Fabric from 128 looms to 135 looms. Also, they increased the production capacity of Wind Energy from 16200 KW to 23400 KW. In 2010-11, the Company installed 9 Windmills each of 800 KW capacity totaling 7.20 MW capacity near Pushpathur, Dindigul District, Tamil Nadu and made them operational in 2011-12. In 2015-16, a new Garments project near Palladam, Tirupur District, Tamil Nadu became operational. In 2016-17, the Retail division of the Company set up under the brand name BITZ commenced operations.