About
Eastern Silk Industries Ltd
Eastern Silk Industries Ltd, a Kolkata based company is the leading exporter of silk fabrics. The company is presently engaged in the manufacture of silk yarn, fabrics and made-ups, home furnishings, fashion fabrics, handloom fabrics, double width fabrics, scarves, laces and belts, and embroidered fabrics. They manufacture silk yarns of various counts (20's to 240's) and fabrics in a variety of weaves, textures and surface-effects.
The company's operations include manufacturing of silk yarn; fabrics and made-ups; home furnishings; fashion fabrics; handloom fabrics; double width fabrics; scarves, laces and belts, and embroidered fabrics. They offer products in two groups: furnishing fabrics and fashion accessories. The furnishing fabrics include plain, embroidery, patch, weaves, embossing, jacquards, dobbies and emboss. The fashion accessories include fashion fabrics, readymade furnishings and scarves.
The company is headquartered in Kolkata. They export their products to United Kingdom, United States, Japan, EFFTA countries, Canada, European Union, New Zealand, Australia, and Scandinavia. The Government of India recognized the company as a Golden Star Trading House.
Eastern Silk Industries Ltd was incorporated in the year 1946 with the name Eastern Silk Manufacturing Company Ltd. The company was thereafter converted into a private limited company with the name Eastern Silk Manufacturing Company Pvt Ltd on June 12, 1956. They were again converted into a public limited company and the name was changed to Eastern Silk Manufacturing Company Ltd on July 26, 1975. In August 12, 1975, the company changed their name to Eastern Silk Industries Ltd.
During the year 1990-91, Eastern Enterprises Ltd became a wholly owned subsidiary of the company. They also diversified into export of leather goods. In November 1992, the company came out with the public issue at a premium of Rs 10, aggregating Rs 4.02 crore, to part-finance the expansion of processing facilities and the upgradation of the looms.
During the year 1995-96, the company's overseas subsidiary, Mayur International Corporation, New York was liquidated and the entire capital was transferred to the company. During the year 1996-97, they set up a modern weaving mill and a process house at Gurgaon in Haryana.
During the year 1998-99, the company completed the expansion of the Noida unit by increasing the capacity from 40.5 lakh meters to 60 lakh meters per annum. They set up a 100% Export Oriented Unit for the manufacture of dyed and printed silk, cotton and synthetic fabrics and made-ups at Falta Export Processing Zone in West Bengal. In addition, they set up a private bonded warehouse in the Export Processing zone for trading including re-export.
During the year, the company sold their holding of 1,500,000 equity shares of Rs 10 each in Eastern Enterprises Ltd. As a result, Eastern Enterprises Ltd ceased to be a subsidiary company. In addition, the company changed their name from Eastern Silk Industries Ltd to ESI Ltd with effect from November 25, 1998.
During the year 2001-02, the company further changed their name from ESI Ltd to Eastern Silk Industries Ltd with effect from June 3, 2002. In February 2004, the company commenced commercial production at their plant at Anekal in Bangalore. The required machineries imported as well as indigenous were installed and commissioned successfully.
During the year 2004-05, Eastern Jingying Ltd and Sstella Silks Ltd merged with the company. The company received the ISO 9001: 2000 quality accreditation for their Unit 2 at Anekal and the yarn manufacturing Unit 3 at Nanjangud. They commissioned best-in-practice testing facility at an investment of Rs 50 lakh.
During the year, the company introduced embroidered fabric, large width fabrics and the commercialization of 25 new designs. They entered into four new geographies and the addition of 25 new clients. The company increased three lakh meters in installed capacity through the replacement of eight power looms with auto and introduced four jacquard machines.
During the year 2005-06, the company launched a new product line, namely 'Rustle' in the segment of home furnishing. In June 2005, they set up on a temporary basis a wholly owned subsidiary in Singapore in the name of Trade International (S) Pte Ltd to undertake trading activities in fast moving consumer items. However, the said company was disposed of during the next financial year.
During the year 2006-07, the company completed the expansion of the fabric capacity at the Anekal plant. In addition, they set up a plant at Bommasundra in Hosur Road for the manufacture of made-ups. During the year, P K Textiles Ltd, Ethics Commercials Ltd and Lucky Goldstar Co Ltd became the subsidiaries of the company.
During the year 2007-08, the company expanded the production capacity of Silk Weaving/ Embrodiery from 13.90 lakh meters to 18.40 lakh meters per annum. In addition, P K Textiles Ltd, Ethics Commercials Ltd and Lucky Goldstar Co Ltd ceased to be the subsidiaries of the company.
The company is undertaken an expansion project at Anekal in Bangalore for the manufacture of velvet fabrics at an estimated capital outlay of Rs 80 crore. The commercial production is expected to start during the financial year 2009-10.
Eastern Silk Industries Ltd
Chairman Speech
Eastern Silk Industries Ltd
Company History
Eastern Silk Industries Ltd, a Kolkata based company is the leading exporter of silk fabrics. The company is presently engaged in the manufacture of silk yarn, fabrics and made-ups, home furnishings, fashion fabrics, handloom fabrics, double width fabrics, scarves, laces and belts, and embroidered fabrics. They manufacture silk yarns of various counts (20's to 240's) and fabrics in a variety of weaves, textures and surface-effects.
The company's operations include manufacturing of silk yarn; fabrics and made-ups; home furnishings; fashion fabrics; handloom fabrics; double width fabrics; scarves, laces and belts, and embroidered fabrics. They offer products in two groups: furnishing fabrics and fashion accessories. The furnishing fabrics include plain, embroidery, patch, weaves, embossing, jacquards, dobbies and emboss. The fashion accessories include fashion fabrics, readymade furnishings and scarves.
The company is headquartered in Kolkata. They export their products to United Kingdom, United States, Japan, EFFTA countries, Canada, European Union, New Zealand, Australia, and Scandinavia. The Government of India recognized the company as a Golden Star Trading House.
Eastern Silk Industries Ltd was incorporated in the year 1946 with the name Eastern Silk Manufacturing Company Ltd. The company was thereafter converted into a private limited company with the name Eastern Silk Manufacturing Company Pvt Ltd on June 12, 1956. They were again converted into a public limited company and the name was changed to Eastern Silk Manufacturing Company Ltd on July 26, 1975. In August 12, 1975, the company changed their name to Eastern Silk Industries Ltd.
During the year 1990-91, Eastern Enterprises Ltd became a wholly owned subsidiary of the company. They also diversified into export of leather goods. In November 1992, the company came out with the public issue at a premium of Rs 10, aggregating Rs 4.02 crore, to part-finance the expansion of processing facilities and the upgradation of the looms.
During the year 1995-96, the company's overseas subsidiary, Mayur International Corporation, New York was liquidated and the entire capital was transferred to the company. During the year 1996-97, they set up a modern weaving mill and a process house at Gurgaon in Haryana.
During the year 1998-99, the company completed the expansion of the Noida unit by increasing the capacity from 40.5 lakh meters to 60 lakh meters per annum. They set up a 100% Export Oriented Unit for the manufacture of dyed and printed silk, cotton and synthetic fabrics and made-ups at Falta Export Processing Zone in West Bengal. In addition, they set up a private bonded warehouse in the Export Processing zone for trading including re-export.
During the year, the company sold their holding of 1,500,000 equity shares of Rs 10 each in Eastern Enterprises Ltd. As a result, Eastern Enterprises Ltd ceased to be a subsidiary company. In addition, the company changed their name from Eastern Silk Industries Ltd to ESI Ltd with effect from November 25, 1998.
During the year 2001-02, the company further changed their name from ESI Ltd to Eastern Silk Industries Ltd with effect from June 3, 2002. In February 2004, the company commenced commercial production at their plant at Anekal in Bangalore. The required machineries imported as well as indigenous were installed and commissioned successfully.
During the year 2004-05, Eastern Jingying Ltd and Sstella Silks Ltd merged with the company. The company received the ISO 9001: 2000 quality accreditation for their Unit 2 at Anekal and the yarn manufacturing Unit 3 at Nanjangud. They commissioned best-in-practice testing facility at an investment of Rs 50 lakh.
During the year, the company introduced embroidered fabric, large width fabrics and the commercialization of 25 new designs. They entered into four new geographies and the addition of 25 new clients. The company increased three lakh meters in installed capacity through the replacement of eight power looms with auto and introduced four jacquard machines.
During the year 2005-06, the company launched a new product line, namely 'Rustle' in the segment of home furnishing. In June 2005, they set up on a temporary basis a wholly owned subsidiary in Singapore in the name of Trade International (S) Pte Ltd to undertake trading activities in fast moving consumer items. However, the said company was disposed of during the next financial year.
During the year 2006-07, the company completed the expansion of the fabric capacity at the Anekal plant. In addition, they set up a plant at Bommasundra in Hosur Road for the manufacture of made-ups. During the year, P K Textiles Ltd, Ethics Commercials Ltd and Lucky Goldstar Co Ltd became the subsidiaries of the company.
During the year 2007-08, the company expanded the production capacity of Silk Weaving/ Embrodiery from 13.90 lakh meters to 18.40 lakh meters per annum. In addition, P K Textiles Ltd, Ethics Commercials Ltd and Lucky Goldstar Co Ltd ceased to be the subsidiaries of the company.
The company is undertaken an expansion project at Anekal in Bangalore for the manufacture of velvet fabrics at an estimated capital outlay of Rs 80 crore. The commercial production is expected to start during the financial year 2009-10.
Eastern Silk Industries Ltd
Directors Reports
"Annexure I"
Particulars of Energy Conservation, Technology Absorption and Foreign Exchange Earnings
and Outgo required under the Companies (Accounts) Rules, 2014 are as follows:
CONSERVATION OF ENERGY
FORM A
The Company's engaged in the continuous review of energy costs, reduction in energy
generation cost through improved operational and maintenance practices.
(A) Power and Fuel Consumption
1. Electricity |
|
Current
Year |
Previous
Year |
(a) Purchased |
Units |
21,11,832.00 |
22,40,203.00 |
Total Amount |
r |
1,98,51,226.00 |
2,00,29,481.00 |
Rate/Unit |
r |
9.40 |
8.94 |
(b) Own Generation through Diesel Generator |
Units |
27,384.00 |
70,812.00 |
Total Amount |
r |
9,37,619.00 |
19,61,236.00 |
Cost/Unit |
r |
34.24 |
27.70 |
2. (a) Briquettes |
|
|
|
Quantity |
Kgs |
6,73,695.00 |
15,21,545.00 |
Total Amount |
r |
57,49,153 |
91,72,368 |
Cost/Unit |
r |
8.53 |
6.03 |
(b) Fire Wood |
|
|
|
Quantity |
Kgs. |
8,68,480.00 |
31,110.00 |
Total Amount |
r |
26,18,205.00 |
1,18,218.00 |
Cost/Unit |
r |
3.01 |
3.80 |
(B) Consumption per unit of products:
Fabrics |
Mtrs |
5,42,032.50 |
5,41,210.41 |
Electricity |
r |
36.62 |
37.10 |
Briquettes |
r |
10.61 |
16.95 |
Fire Wood |
r |
4.83 |
0.22 |
Diesel |
r |
1.73 |
3.62 |
Research & Development
1. Specific areas in which R&D carried out by the R&D activities are carried
out for development of new
Company products.
2. Benefits derived as a result of above R&D Improvement in quality and customer
satisfaction.
3. Future plan of action Development of new varieties of products.
4. Expenditure on R & D Capital . Nil
Recurring . Nil
R&D Expenditure -
as a percentage of turnover
Technology Absorption, Adaptation & Innovation
1. Efforts in brief, made towards technology Latest software's are used for better
design development.
Absorption, adaptation and innovation
2. Benefits derived as a result of the above Improved products.
3. Details of imported technology Not Applicable.
Foreign exchange earnings & outgo
(a) Activities relating to exports, initiatives taken to Participating in the
international trade fairs to showcase the increase exports, development of new export
company's new developments and also invite the different markets for product and services
and export plans. company's selling agents as well as customers to provide a platform of
interaction in order to procure orders for the Company's product as well as scout for new
customers.
Travelling expenses in respect of such activities are also expensive. Travelling by the
sales personnel also brings in order for the Company's products.
(b) i) Overseas Travelling The information on foreign exchange earnings and outgo is
ii) Commission to Agents contained in the Note No. 56 & 57 of Notes on Financial
iii) Consultation Fees Statements.
iv) Others
By Order of the Suspended Board
19 R N Mukherjee Road |
SUNDEEP SHAH |
Kolkata 700 001 |
Din:00484311 |
Dated: 29th August 2023 |
Chairman & Managing Director |
|
(Power under Suspension during CIRP) |
| Sd/- MEGHA SHAH |
| Din:07172597 |
| Wholetime Director |
| (Power under Suspension during CIRP) |
|
Sd/- |
|
ANIL KOHLI |
Place: New Delhi |
(Resolution Professional of Eastern Silk Industries Limited) |
Dated: 29th August 2023 |
Taken on record |
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Eastern Silk Industries Ltd
Company Background
| Incorporation Year | 1946 |
| Registered Office | 19 R N Mukherjee Road,
Kolkata,West Bengal-700001 |
| Telephone | 91-033-22430817/18/19,Managing Director |
| Fax | 91-033-22482486 |
Sundeep ShahSundeep Shah| Company Secretary | Rahul Jaiswal |
| Auditor | Suresh Kumar Mittal & Co |
| Face Value | 2 |
| Market Lot | 1 |
| Listing | BSE,NSE, |
| Registrar | ABS Consultant Pvt Ltd
99 Stephen House ,6th Floor ,4 B B D Bag(E) ,Kolkata-700002 |
Eastern Silk Industries Ltd
Company Management
| Director Name | Director Designation | Year |
|---|
| G D Harnathka | Independent Director | 2023 |
| G D Harnathka | Independent Director | 202303 |
| Sundeep Shah | Chairman & Managing Director | 2023 |
| Sundeep Shah | Chairman & Managing Director | 202303 |
| Megha Shah | Executive Director | 2023 |
| Megha Shah | Executive Director | 202303 |
| Madhu Kant Sharma | Independent Director | 2023 |
| Madhu Kant Sharma | Independent Director | 202303 |
| Pankaj Kumar Deorah | Independent Director | 2023 |
| Pankaj Kumar Deorah | Independent Director | 202303 |
| Rahul Jaiswal | Company Sec. & Compli. Officer | 2023 |
| Rahul Jaiswal | Company Sec. & Compli. Officer | 202303 |
| Abhishek Haralalka | Independent Director | 2023 |
| Abhishek Haralalka | Independent Director | 202303 |
Eastern Silk Industries Ltd
Listing Information
Eastern Silk Industries Ltd
Finished Product
| Product Name | Unit | Installed
Capacity | Production
Quantity | Sales
Quantity | Sales
Value |
|---|
| Sale of Products | NA | 0 | 0 | 0 | 63.005 |
| Sale of Service | NA | 0 | 0 | 0 | 1.7944 |
| Othr Operating Revenue | NA | 0 | 0 | 0 | 0.4364 |
| Others | NA | 0 | 0 | 0 | 0 |
| Processed Silk | Kg | 0 | 0 | 0 | 0 |
| Processing Charges | NA | 0 | 0 | 0 | 0 |
| Tops | Kg | 0 | 0 | 0 | 0 |
| Noil Silk Yarn | MT | 0 | 0 | 0 | 0 |
| Art Silk Yarn & Cotton Wool | MT | 0 | 0 | 0 | 0 |
| Spun Silk Yarn | MT | 0 | 0 | 0 | 0 |
| Art Silk Fabrics & Cotton Wool | Mtr | 0 | 0 | 0 | 0 |
| Fabrics | Mtr | 0 | 0 | 0 | 0 |
| Yarn | Kg | 0 | 0 | 0 | 0 |
| Embroidered Fabrics | Mtr | 0 | 0 | 0 | 0 |
| Made-Ups | Pcs | 0 | 0 | 0 | 0 |
| Multicolour Yarn | Kg | 0 | 0 | 0 | 0 |