S KUMARS NATIONWIDE LTD.

S KUMARS NATIONWIDE LTD.

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Name change date

Company Overview
S. Kumars Nationwide Ltd. (SKNL) is a publicly quoted textile manufacturing company which produces fabrics, apparel and home textiles, serving the socio-economic segments of the Indian market. The company was established in 1948 as a textile trader and has its registered headquarters located in Mumbai, India.
S. Kumars Nationwide is one of the leading textile and apparel companies in India with a network of more than 30,000 textile retail outlets. The company is the pioneer in the manufacture and marketing of synthetic blended fabrics that ushered in the widespread use of polyesters and polyester blends in India.
S. Kumars Nationwide produces and sells worsted and premium suiting, which comprise polywool blends, wool cashmere blends, wool linen and wool silk polyester blends, polyester viscose blends, and worsted polyester viscose blends; consumer and home textiles, which comprise school uniforms, fire-resistant and stain-resistant fabrics, stretch and other modified blends, military uniform fabrics, hospitality uniform fabrics, stain and crease-resistant fabrics, medical and paramedical work wear fabrics, and easy clean fabrics; work wear garments, which include shirts, lab coats, aprons, trousers, and dungarees; and ready to wear garments, which include suits, blazers, shirts, trousers, and ties. The company markets and sells its products under the brand names, namely S Kumars, Reid & Taylor, Delmonte and Tamariind brand names.
The company has four facilities, which produce more than 2,000,000 meters per day.
Business Summary
The Company is mainly engaged in manufacturing Blended Fabrics, Blended Yarn, Worsted Yarn.
Description and history
The Company is engaged in manufacturing fabrics, ready-to-wear garments and home textiles. The Company manufactures Reid & Taylor Worsted Suiting and natural fiber suiting. The Company also markets ready-to-wear garments under the brand Reid & Taylor and Stephen Brothers.

HISTORY:
The Company was incorporated as a private limited Company on 28th September 1990, under the Companies Act, 1956 & has became a deemed Public Comp. under Section 43 A [Is] w.e.f. 28th Feb 1991.

In 1990
- The Company 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.

- The Company was promoted keeping in mind the S. Kumars Group overall corporate strategy & given objectives of segregating the export business from the local business.

-The Company was 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.

In 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.

In 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.

In 1994
- The Company 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.

In1997
– The Company 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 Company was setting up a state-of-the-art Worsted mill near Mysore in Karnataka

In 1998
– The Company has entered into a technical & marketing collaboration with Reid and Taylor of Scotland for manufacturing & marketing of exclusive worsted suitings.

In1999
- The Company has signed an agreement with National Securities Depository Limited [NSDLs] for joining the Depository System, which facilitates scripless trading.

- The Company has, introduced a novel concept in distribution called ‘Direct to Retail’ – DTR.

- The Company. 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.

In 2000

The Company, 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’

-The Company has appointed Andersen Consulting to review its product portfolio in different market segments & maximise the company strengths in marketing brand building & brand creation.

-The Company changed its name from S.Kumar Synfabs Ltd to S.Kumars Nationwide Ltd on 12 April 2000.

In 2001

-The Company , 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.

- The Company 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]

In 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.

In 2003

-The Company 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

In 2004

- The Company delists its equity shares from Madhya Pradesh Stock Exchange Ltd, the Delhi Stock Exchange Association Ltd, & the Ahmedabad Stock Exchange.

In 2006

-S Kumars wires in Alok Banerjee as CEO of textiles arm.

In 2007

-The Company 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.

Established as a textile trader

Business Line
Textile manufacturing company which produces fabrics, apparel and home textiles
Subsidiary
LEGGIUNO S.P.A.
Advisor
HARIBHAKTI & CO
IPO date

US SIC Code
2399
Company Address
Avadh, Shree Ram Mills Premises, G.K. Marg, Worli

City province or state postal code
400018, MUMBAI
Phone: +91 2224965700
Fax: +91 2224931685
Country address: INDIA
Website url: www.sknl.co.in

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