History of S Kumars Nationwide Ltd.
YEAR EVENTS 1948 - S. Kumars Group was founded in 1948 by Shri Abhayakumar Kasliwal & Shri. Shambhukumar Kasliwal by establishing textile distribution network & subsequently commencing textile manufacturing activities.
1990 - The Comp. has incorporated as a private limited Comp. on 28th September, under the Companies Act, 1956 & has became a deemed Public Comp. under Section 43 A [Is] w.e.f. 28th Feb 1991.
- The Comp. has became a simplicitor public Company, vide special Resolution Passed on 7th July 1992 & fresh certificate of change of name as issued on 28th September 1993. It is engaged in the business of trading in synthetic/blended fabrics.
- With a view to meet the growing demand for its product, S. Kumars Synfabs limited has acquired shuttleless looms & other plant from S. Kumar Enterprises [Synfabss] Ltd. & is instaling further shuttleless looms & other equipment at Dewas & setting up texturising & twisting plant at Pithampur in Madhya Pradesh.
- S. Kumars Synfabs limited was promoted keeping in mind the S. Kumars Group overall corporate strategy & given objectives of segregating the export business from the local business.
- S. Kumars Synfabs Limited is promoted by group with the intention of making it the flagship Comp. of group synthetic textile business.
- S. Kumars Synfabs limited was promoted by S. Kumar Enterprises [Synfabss] limited and commenced its business in September.
1992 - The Group has also established its presence in the Middle East & the U.K./European markets. The Group exported goods worth Rs.15 crores in the year.
- S. Kumars Group is among the early business houses that ushered in the widespread use of Polyester & polyester blends in apparel fabric in India, introduced 100% Polyester sarees & used Acrylic fibre in everyday Suitings & Shirtings. It was also among the first Textile Groups to take up systematic textile marketing by establishing a widespread network of dealers & retailers, & regularly advertising its products. It was amongst the first to establish India as a sourcde of fashion blended fabric in the United Kingdom.
- The rights issue of 19,54,000 equity shares of Rs. 10/- each at a premium of Rs. 25/- aggregating to Rs. 683.90 lacs, has been fully subscribed & the allotments have been made on 12th October.
1993 - The Public Issue of 38,50,000 Equity Shares of Rs.10/- each at a premium of Rs.26/- per share aggregating Rs.1,386 lakhs & issue of 1,66,000 Zero interest Zero dividend Convertible Preference Shares [CPSs] of face value of Rs.100/- each at par aggregating Rs.166 lakhs has been oversubscribed.
1994 - The Comp. has privately placed 10 lacs Non Convertible Debentures of Rs.100/- each aggregating to Rs.10 crores, with the Industrial Development Bank of India & the Unit Trust of India to complete the means of finance of expansion project undertaken by Company.
1997 - The Comp. has acquired from Standard Industries Limited, a spinning- cum-weaving unit situated near Dewas in M.P. The unit has an installed capacity of 38,564 Spindles & 64 Sulzer double width shuttleless weaving machines.
- The Comp. is setting up a state-of-the-art Worsted mill near Mysore in Karnataka
1998 - The Comp. has entered into a technical & marketing collaboration with Reid and Taylor of Scotland for manufacturing & marketing of exclusive worsted suitings.
1999 - The Comp. has signed an agreement with National Securities Depository Limited [NSDLs] for joining the Depository System, which facilitates scripless trading.
- The Comp. has, introduced a novel concept in distribution called 'Direct to Retail' - DTR.
- The Comp. has successfully privately placed 762 lakhs equity shares of Rs.10 each, partly paid up with a premium of Rs.5.09. During the year, the Comp. has also placed 333 lakhs equity shares at a premium of Rs.5.09.
2000
-S Kumars Synfabs, the Rs 600 crore synthetic-textiles Comp. has decided to extend its Reid and Taylor brand to ready-to-wear segment.
- Rs 600 crore textile major S Kumars Synfab has signed Bollywood sensation Hrithik Roshan to be their new brand ambassador for an undisclosed sum to mark their entry into the readymade apparel market.
-Chennai high court has, through an interim injunction, prevented S Kumars from using the brand name `Cinnamon'
-S. Kumars Synfabs Ltd has appointed Andersen Consulting to review its product portfolio in different market segments & maximise the company strengths in marketing brand building & brand creation.
2001
-S Kumar Synfabs, has been forced to launch a new ready-to-wear brand,
- ICRA has downgraded the Rs 50 crore non-convertible debenture issue of S Kumars Nationwide to inadequae safety lBB rating from the previous lA.
- promotes Shree Maheshwar Hydel Power project in Madhya Pradesh has secured a $132.60 million [about Rs 610 crores] loan from the Power Finance Corporation [PFCs]
2002
-Mr Vijay Kalantri appointed as an Additional Director
- Mr. G A Nayak appointed by UTI as Nominee Director & Mr. R K M Prasad has been appointed by IFCI Ltd., as Nominee Director on the Board of Comp. vice Mr. Kamal Kishore. 2002
-The Board of Directors of S Kumars.Com Ltd held on January 24, 2002 Mr Vijay Kalantri has been appointed as an Additional Director of company.
2003
-Downgraded by ICRA `LBB' for its Rs 50 cr non-convertible debenture [NCDss] under rated `LD', indicating default.
-Shri Sanjeev Ghai has been appointed by IFCI Ltd., as Nominee Director on the board of Comp. vice Shri R K M Prasad with effect from August 18, 2003
2004
- The Comp. delists its equity shares from Madhya Pradesh Stock Exchange Ltd, the Delhi Stock Exchange Association Ltd, & the Ahmedabad Stock Exchange.
2006
-S Kumars wires in Alok Banerjee as CEO of textiles arm.
2007
-S.Kumars Nationwide Ltd has appointment Shri. Anil Channa as an additional & executive director.
-S.Kumars Nationwide Ltd has has appointed Shri. Vijay Kalantri and. Smt. Jyoti N Kasliwalthe as Directors.
