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History of Ambika Cotton Mills Ltd.

YEAR EVENTS 1988 - The Comp. was originally incorporated as Ambika Cotton Mills Private Ltd as a Private Limited Comp. on 6th October , in the State of Tamil Nadu, & subsequently converted into a Public Limited Comp. on 5th September, 1994.

- The Comp. was promoted by Shri P K Ganeshwar, Shri M Rathanasamy & Shri 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 Comp. carried out an expansion scheme to add certain back-process machinery in February 1991, which was also funded by State Bank of India.

1992 - The Comp. began implementation of an expansion project to double its spindlage to 12096 spindles by addition of 6048 spindles. This project which was financed by means of medium term loan from State Bank of India & the State Bank of Mysore on a consortium & through a Deferred Payment Guarantee limit from IDBI. The project was successfully completed in March 1993.

1994 - The Comp. added Comber machines to its production line & humidification system. This was funded by SIPCOT through a term loan of Rs. 90.86 lacs.

- The Comp. currently manufactures combed & carded cotton yarn of counts ranging from 30 to 40's. These are used by hosiery manufacturers to convert the same into fabric or garments.

2000 - The Comp. has chalked out a Rs 14-crore expansion-cum-modenrisation programe.