Shiva Mills Ltd

Shiva Mills Ltd

Shiva Mills Limited (Formerly known STYL Textile Ventures Limited) was incorporated in November 24 2015. The Company is engaged in manufacturing & marketing of cotton yarn products. The Company's spinning unit was started in the year 1989 with factory located at Dindigul Tamil Nadu. The unit had a capacity of 39072 spindles with a production capacity of 20 tonnes of cotton yarn per day. The unit specialized in production of 100% cotton yarn for knitting mostly counts 20/1 to 40/1. The Company established strong brand loyalty especially in major knitting centers like Tirupur and Upcountry. The Company exported around 20% - 30% of cotton produced to Far East countries. The unit modernized at periodical intervals by availing Term loans under Technology Upgradation Fund (TUF) Scheme. The unit is equipped with some of sophisticated machinery like LMW V4 Cards Rieter SB D22 Drawframe Rieter E35 Omega Lap Rieter E80 Combers Saurer AC6 Autoconer Sussen Compact System for ring frames. The unit installed sophisticated testing equipments to test the quality parameters of cotton as well as yarn to maintain quality standards. The unit implemented ISO 9001: 2000 Standards certified by Det Norske Veritas Netherlands for quality standards.In 2004 the Company started first wind farm project at Sankaneri in Tirunelveli Dist. of South Tamil Nadu by installing 5 Nos of 1250 KW wind mills in one of the predominant wind park in the state. In 2005 the Company installed 16 more wind mills in Palghat Pass near Palladam having capacity of each 225 KW. It had a well-trained team of engineers and staff for operation and maintenance of these wind farms to achieve maximum generation. Later during the year 2010 the Company added one more wind mill of 800 KW with latest technology near Dharapuram.While retaining yarn the Company ventured into captive power becoming cost efficient by combating uncertainties in the availability of energy. It installed 22 wind mills having cumulative capacity of 10.65 MW in the best windy sites of Tamil Nadu. This produces around 20 MU units of green energy being utilized through captive arrangement.The Hon'ble National Company Law Tribunal (NCLT) vide their proceedings dated 23 August 2017 approved the Scheme for Demerger of the business of Spinning Unit - 1 along with connected wind mills (approved scheme in favor of Shiva Mills Limited (formerly known as STYL Textile Ventures Limited) (SML). The demerger comes in to effect from April 1 2015 the appointed day fixed under the Scheme. The net assets to be transferred to SML as on the appointed day as per the approved scheme is recognised and disclosed as Demerger Adjustment Account to be adjusted against the equity of the Company when shares are allotted by SML to shareholders of Demerged Company. During the year 2018 8641808 shares of SML were allotted consequent to a scheme of demerger approved by NCLT vide ordered dated 23 August 2017.