Maris Spinners Ltd. Company History and Annual Growth Details

Maris Spinners Limited was originally incorporated as a
Private Limited company on 18.9.1979. The Company became a
deemed Public Limited Company under Section 43A(1A) of the
Companies Act, 1956 from 1.7.1994. Consequently the name of
the Company was changed to Maris Spinners Limited by
deleting the word 'Private', and a fresh Certificate of
Incorporation was issued on 9.2.1995.

The Company presently manufactures 100% cotton carded yarn
of counts 30s, and 40s for weaving, knitting and handlooms.
The Company's spinning unit is located in Kattemalalavadi
village, Hunsur taluk, Mysore District, Karnataka. Maria
Spinners Limited has a sound track record of productivity,
and has been producing high quality yarn for the domestic
market.

The Company was incorporated on 18.9.1979 and the orders for
plant and machinery were placed in December 1979. The
construction work began in February 1980 and erection of
machinery was over by December 1980. The commercial
production began in March 1981, i.e. about seventeen months
from the date of incorporation, which is less than the
average time taken to set up a spinning unit of its size.

The Company commenced commercial production in 1981 with an
installed capacity of 11,856 spindles. Since its inception,
the Company has undertaken regular expansion and
modernisation programmes to increase capacity and
productivity. The present capacity of the spinning unit is
24,672 spindles. The stages of capacity expansion are as
under:

Year Capacity (Spindles)
1981 11,856
1986 17,616
1991 19,128
1992 24,672

In 1994, the Company set up two Wind Turbine Generators
(WTGs) at Muppandal, Kanya Kumari District, Tamil Nadu. The
Company has also completed installation of three more WTGs
in March 1995. The installation of WTGs was part financed
by Indian Renewable Energy Development Agency Limited
(IREDA) to the extent of Rs. 145.80 lakhs through its
Equipment Finance Scheme.

Past labour problems:

a) Members belonging to one union went on a strike on
9.5.1987 and the strike was called off on 6.7.1987

b) There was a strike by a section of workmen on 21.7.1987.
The Company declared a lock out on 22.7.1987 and the unit
was re-opened on 9.12.1987

2014

-Board has recommended a dividend of 10% for the year 2014.

2015

-Maris Spinners Ltd has proposed to declare a dividend of 10%.

2016

-Maris Spinners Ltd has informed that Mr. A Hari Govind has been appointed as a Director

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