Maris Spinners Ltd Share Price Textiles
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Maris Spinners was incorporated as a private limited company on 18 Sep.'79. It became a deemed public company in Jul.'94. It was promoted by M Thangavelu, M Rengaswamy and their associates. The company manufactures 100% cotton carded yarn of counts 30s and 40s for weaving, knitting and handlooms. Its spinning unit is located in the Mysore district of Karnataka. Commercial production commenced in Mar.'81. with an installed capacity of 11,856 spindles. Since the commencement of commercial production, it has carried out regular expansion and modernisation programmes to increase the capacity to 38784 spindles. In 1994, the company set up two wind turbine generators (WTGs) at Muppandal, Tamilnadu. In Mar.'95, it installed three more WTGs. The company came out with a public issue in Dec.'95 to part-finance is modernisation programme and also to set up a second spinning unit at Manaparai, Tamilnadu, with a capacity of 14,112 spindles, which will take the total spinning capacity to 38,784 spindles.