About the Company
Ambika Cotton Mills is a manufacturer of cotton yarn. It was incorporated as a private limited company on October 6, 1988 and got converted into a public limited company on September 5, 1994.
The company has four manufacturing units in Dindigul, Tamil Nadu. In FY07, the company set up its fourth unit with an installed capacity of 43,200 spindles including doubling of yarn for 9,600 spindles along with back processing machinery in a separate plant at an estimated cost of Rs 1,406.3 million. The company has increased its compact facility in Unit II by 6,720 spindles at an estimated cost of Rs 33.1 million. The total production capacity would increase to 110,000 spindles in phases starting with operations at unit IV from June 2007. Of this, the compact facility would constitute 83,000 spindles representing 75.45% of the total installed capacity. The additional doubling of yarn facility would provide the required flexibility in product range. The installed wind power capacity of the company stands at 13.8 MW with the setting up of 800 KW capacity in FY07.
The company’s clientele consists of well-reputed manufacturers engaged in manufacturing shirts/knitwear products, both in the domestic and international markets. Approximately 45% of its products are exported directly to Taiwan, Hong Kong, Turkey, China, Korea, Singapore, Israel and Egypt and through merchant exporters to Peru, Italy, and Germany among other countries.
1988 - The company was originally incorporated as Ambika Cotton Mills Private Ltd as a private limited company on October 6, in the state of Tamil Nadu, and subsequently converted into a public limited company on September 5, 1994. The company was promoted by P K Ganeshwar, Rathanasamy and P V Chandran, for setting up a cotton spinning mill. The mill located in Dindigul, Tamil Nadu, commenced operations in January 1990. The project, with an initial capacity of 6048 spindles was part-financed by a term loan from State Bank of India. The company carried out an expansion scheme to add certain back-process machinery in February 1991, which was also funded by the State Bank of India.
1992 - Ambika Cotton Mills began implementation of an expansion project to double its spindlage to 12096 spindles by the addition of 6048 spindles. This project was financed by means of a medium-term loan from State Bank of India and the State Bank of Mysore on a consortium basis and through a Deferred Payment Guarantee limit from IDBI. The project was successfully completed in March 1993.
1994 - The company added Comber machines to its production line and humidification system. This was funded by SIPCOT through a term loan of Rs 90.86 lakh. The company currently manufactures combed and carded cotton yarn of counts ranging from 30's to 40's. These are used by hosiery manufacturers to convert the same into fabric or garments.
2000 - The company has chalked out a Rs 14-crore expansion-cum-modernisation programme.
|Parent Organization||Ambika Cotton Mills Ltd.||Managing Director||P V Chandran|