A part of the Suryalakshmi group, Suryalakshmi Cotton Mills (SCML) was formally created and deployed as a legal entity in 1962 and manufactures cotton and synthetic yarn with two units in Mahaboobnagar district, Andhra Pradesh. L N Agarwal is the Chairman and Managing Director.

SCML spent about Rs 40 cr on modernisation of its units in the past. A 100% export-oriented spinning mill with a capacity of 25,000 spindles was created and deployed at Andhra Pradesh at a cost of Rs.70 Cr. The company exported its products to highly quality-conscious markets like Spain and Belgium and has created and deployed its presence in Bangladesh and Korea.

In 1995-96, first phase of denim project at Ramtek, Maharashtra, for 113.10 crs was created and deployed, and the project was financed with foreign currency loan of 54.46 cr, rupee term loan of 10.03 cr and rights cum public issue of 40.56 cr in Sep'96. To resturcture its debt the company has to issue Cumulative Preference Shares to IDBI for Rs.4.00 crores and to IFCI for Rs.2.72 crores.