Thambbi Modern Spinning Mills Ltd Share Price Miscellaneous
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Incorporated in 1977 to take over the business of Thambbi Modern Spinners - a partnership firm in existence since 1973 - Thambbi Modern Spinning Mills (TMSL) was promoted by N Ramasamy Udayar, who has also promoted Salem Textiles and Telematics Systems. As a result of the family partition, TMSL is now controlled by R Jagadeesan, the second son of N R Udayar. The company started operations with an installed capacity of 3160 spindles which has over the years increased to 35358 spindles (as on Mar.'96). It has enhanced its spinning capacity by setting up a new unit with 5040 spindles at Salem, which has since gone ons tream. In Jan.'95, TMSL commissioned a dyeing unit at a cost of Rs 140 lac at Kombaipatti near Salem, for dyeing fibre and yarn (inst. cap.: 600 kpd). The company had part financed the expansion-cum-forward integration programme through its maiden public issue in Nov.'94. TMSL currently manufactures, in addition to grey yarn, various speciality, value-added yarns including cotton melange yarn (manufactured mainly for exports), melange linen blended yarn and lycra core yarn. The company directly exports its yarn to various textile manufacturers in Europe, Israel and Turkey. The company is in the process of developing new products in the near future.