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SIYARAM SILK MILLS LIMITED promoted by SIYARAM PODDAR GROUP was incorporated on 29th June 1978. Initially, company was engaged in trading activity of suiting and shirting. Over the period of time, the company has expanded, diversified and integrated its facilities substantially and presently has facilities for manufacturing and marketing of suiting, shirting, texturising, dyeing yarn and ready-made garments. The company was incorporated as a Private Limited Company and in 1980 it was converted into a Public Limited company through a Public issue of Rs. 50 Lacs which was oversubscribed. The proceeds of the issue were utilized for setting up of a weaving Plant in Tarapur, Maharashtra. The said unit was further expanded in1984. In1985, a texturising/dyeing/weaving unit was set up at Patalganga in the State of Maharashtra. The Project was financed by a mixture of foreign currency loan and issue of Right Equity Shares and Non-Convertible Debentures. The Plant was equipped with modern twisting and texturising machineries, including yarn dyeing facilities. In 1986, the weaving capacity was further expanded by inducting imported Sulzer Projectile Shuttless Looms at Murbad in Maharashtra. Products: The Net Turnover and Other Income of Siyaram Silk Mills Ltd. (SSML) for the year ended 31st March, 2005 is at Rs.306.81 Cr as compared to Rs. 287.63 Cr last year. Correspondingly, the Gross Profit is Rs. 22.79 Cr as compared to Rs. 21.12 Cr in the previous year and the Profit after depreciation, current and deferred tax is placed at Rs. 8.44 Cr as against Rs. 7.72 Cr in the previous year. They have been able to marginally improve the operations and maintain the profitability. The Company's operations at Murbad and Masat continue to remain suspended.
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