|
YEAR EVENTS
1973 - The Company was Incorported on 12th December, at Chennai.
- The Company's object is to manufacture textile machinery like
automatic weaving machines (looms) and grey iron and S.G. iron
castings. The textile products manufactured are marketed under
the trade mark "LAKSHMI RUTI".
- The Company was promoted by G.K. Devarajulu of Lakshmi Group of
South India.
- Allotted 6,00,000 shares to promoters, etc. and 7,50,000 shares
to Ruti Machinery works, Switzerland.
1974 - On 9th April, a 10 year collaboration agreement was entered into
with Ruti Machinery Works Ltd., Ruti ZH, Switzerland for the
manufacture of high speed `C' type looms in the width of 110 to
350 cms., dobbies and spares thereof.
1979 - During May 1976, 16,50,000 shares offered at par to the public.
1984 - 9,550 forfeited equity shares re-issued.
1987 - The Company's L-5000 Airjet weaving machine was being upgraded by
the introduction of drum feeders, colours in the weft,
micro-processor and electronic let off.
- The Company also undertook to manufacture Rapier conversion and
a suitable jacquard for the `C' type weaving machines.
- As a part of the modernisation scheme taken up in the foundry
division, two new moulding machines were installed.
- The Company entered into a collaboration with M/s. Terrot
Strickmaschinen GmbH, Germany to manufacture high speed circular
knitting machines.
1988 - The offtake of weaving machines suffered due to large scale
imports of Airjet weaving machines by the mills taking advantage
of the concessional rate of import duty granted against
furnishing of guarantee to export the cloth.
1990 - The turnover in the textile machinery division declined to mainly
due to go-slow by workmen.
- As per the approval to BIFR the Coimbatore Pioneer Machine Works
Ltd., was amalgamated with the Company with effect from 1st
January. As per the terms of the scheme, shareholders of The
Coimbatore Pioneer Machine Works Ltd. were to be allotted without
payment in cash one equity share of Lakshmi Automatic Loom Works
Ltd. for every 18 No. of equity shares held by them in The
Coimbatore Pioneer Machine Works Ltd.
- 51,994 shares allotted without payment in cash to member of
Coimbatore Pioneer Machine works Ltd. on its merger.
1993 - The Company allotted 30,51,994 No. of equity shares of Rs.10
each for cash at a prem. of Rs.15 per share on rights basis to
shareholders in the ratio of 1:1.
2009
-Sri. S Pathy has been appointed as the Chairman of the Board of Directors.
2011
-Lakshmi Automatic Loom Works Ltd has informed that Smt. Aishwarya Pathy and Sri R Varadarajan have been appointed as Additional Directors of the Company.
2014
-Lakshmi Automatic Loom Works Ltd has informed that Mr. K. P. Krishnakumar has been appointed as Chief Financial Officer (CFO) of the Company with effect from September 10, 2014
2021
-The Company has splits its face value from Rs. 10/- to Rs. 100/-.
|