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A Profile of SPINCO. THE PONDICHERRY CO-OPERATIVE SPINNING MILLS LIMITED. THIRUBHUVANAI , PUDUCHERRY. (AN ISO 9001-2008 UNIT). site plan of spinco. SPINCO. A registered co-operative spinning mill under Pondicherry Co-operative Societies Act – 1972 on 28-12-1979

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A Profile of SPINCO

THE PONDICHERRY CO-OPERATIVE SPINNING MILLS LIMITED

THIRUBHUVANAI , PUDUCHERRY

(AN ISO 9001-2008 UNIT)



SPINCO

  • A registered co-operative spinning mill under Pondicherry Co-operative Societies Act – 1972 on 28-12-1979

  • Established in 1984

  • Area of operation shall be confined to entire Puducherry region

  • Product : 100 % Cotton yarn from 30s to 80s count

  • Total capacity : 35,160 spindles

  • Total Employees Strength : 671

  • The prime objective of the mills is production and sale of yarn to the Pondicherry State Weavers Coop. Society and others

  • The first and last election was held on 20-9-2003

  • The last General Body Meeting was held on 6-10-2010


PARTICULARS

MEMBERSHIP

NO. OF MEMBER

SHARE CAPITAL

(Rs. In Lakhs)

“A”

Handloom Weavers Coop. Societies

13

4.45

“B”

Other coop. Societies

53

4.88

“C”

Individuals

614

2.30

“D”

Government of Puducherry

1

3859.70

Total

681

3871.33

Membership

(As on 31-3-2012)


Organisation chart
ORGANISATION CHART

ADMINISTRATOR

Administrator

MANAGING DIRECTOR

ADMINISTRATIVE

MANAGER

MANAGER

(FINANCE & BUSINESS)

FACTORY MANAGER

1) Office

Establishment

2) Mill Operatives

3) Stationery

4) Statutory

5) Despatch

6) Security

7) Vehicle Section

8) Time Office

9) Canteen

10) Quarters

1) Marketing

2) Purchase

3) Accounts & Audit

1) Production & Man Management

2) Machinery Maintenance

3) Electrical Department

4) Stores & Material Management

5) Laboratory

6) Labour welfare

7) Requisition for Raw Material




Welfare measures
WELFARE MEASURES

In addition to statutory contribution to EPF , ESI and GRATUITY in respect of all employees of the mills , the management of the mills has been providing following additional welfare measures to the employees.

1. Food allowance @ Rs.11/- per day is calculated and paid to all along with wages/salary. This subsidized canteen facility is provided to all employee of the mills. Annual expenditure under this head is around Rs.40 lakhs

2. Free Uniform, kerchief, chapels and stitching charges – Approximate Annual expenditure under this head is Rs.15 lakhs

3. Medical allowance is given to the employees who are not covered under ESI – (50% of (basic Pay + DA)) as on 1st January of each year is granted as fixed medical allowance for that year and equally divided into 12 months and paid along with pay in each month – Approximate Annual expenditure under this head is Rs.2.6 lakhs.

4. Half Kg. sweet pockets are given to all employees three times in a year – Annual expenditure –Rs.1.25 lakhs.

5. Group Insurance (EDLIS) Scheme is extended to all employees of the mills – Annual expenditure is Rs.2.00 lakhs.

6. Workers are provided with two sets of normal uniform and three sets of in plant uniform.

7. Marriage Gift of Rs.2000/- is granted on the occasion of workers’ marriage and worker’s daughter marriage and Rs.5000 is granted as marriage advance recoverable in 50 installments.

8. Jaggery 250 grams per month is given to all the employees of the mills – Annual expenditure under this head is Rs.0.75 lakhs Approximate total welfare expenditure of the is Rs.75 lakhs.

9. Bonus is paid @ 44% subject to a maximum of Rs.11,000/- and exgratia of Rs.3,500/-


DETAILS OF SHARE CAPITAL AND GRANT IN AID RECEIVED FROM

GOVERNMENT AND UTILISATION

Authorised Share Capital is 5000 lakhs:

-- 2 --





Financial results performance chart
FINANCIAL RESULTS 31-3-2011Performance Chart

Sales Value in Lakh Rupees

Production in Lakh Kgs. per year


Financial results details of dues payable as on 31 3 2012
FINANCIAL RESULTS 31-3-2011DETAILS OF DUES PAYABLE AS ON 31-3-2012



Causes for working on Loss 31-3-2011

  • High Establishment Cost

  • Low Productivity

  • Under utilization of machines

  • Market Fluctuations



Performance Chart 31-3-2011

Profit / Loss Rupees in lakhs

In 2001 wage revision was effected and in 2008 abnormal power cut prevails and interest loss suffered during this modernization year 2008-09 on the borrowed funds from NCDC & PSC Bank is Rs.295.76 lakhs and lower utilization due to absenteeism

and in 2011-12, loss due to want of working capital – Mill declared lay-off frequently

And frequent market fluctuation.


Performance comparison to the industry standards based on key performance indicators
Performance comparison to the Industry Standards 31-3-2011Based on Key Performance Indicators




Project in pipeline modernization of spinco
PROJECT IN PIPELINE 31-3-2011Modernization of SPINCO

  • Loan applied from M/s. NCDC for modernization programme –Rs.32.13 Crores

  • Details of the project cost(Rs. In Lakhs)

    • Civil Work - 20.00

    • Plant and Machinery - 2616.00

    • Misc. Fixed Assets - 114.00

    • Provision for Contingency - 130.00

    • Margin Money for W.C. - 283.00

      ----------

      Total 3213.00

      -----------


Pattern of loan sanctioned by ncdc to govt of puducherry for assisting spinco
Pattern of loan sanctioned by NCDC to Govt. of Puducherry for assisting SPINCO

  • Pattern of loan assistance sanctioned by NCDC – Rs.25.63 Crores to Govt. of Puducherry for modernization of SPINCO

  • As against loan applied for Rs.32.13 Crores,

    (Rs.in Lakhs)

    • By way of Term Loan - 1180.00

    • By way of Investment loan - 885.00

    • By way of subsidy - 497.63

      ----------------

    • Total - 2562.63

    • Society contribution - 387.37

      --------------

      Approved Total Project Cost 2950.00

      --------------

      NCDC sanctioned amount so far (for modernisation) 2225.00

      Working Capital 700.00

      Yet to be sanctioned from NCDC:

      Investment Loan (for modernisation) 337.00

      Working Capital Loan 300.00


Terms of loan from ncdc
Terms of loan from NCDC for assisting SPINCO

  • Term loan is repayable in 8 years with moratorium of 2 years

  • Investment loan repayable in 8 years without moratorium

  • Rate of interest .. 8.5 % (with effect from 12-9-2006)

  • For delayed service of installment .. (effective rate + 1%)

  • Penal rate of interest at 2.5% above the normal rate for default

  • Current interest rate 10.75% (w.e.f. June 2007)


Details of loan
DETAILS OF LOAN for assisting SPINCO

PSC Bank Loans:

Medium Term Loan .. Rs.5.00 Crores @ 13% interest

Cash Credit Loan .. Rs.2.00 Crores @ 13% interest

-----------

Total .. Rs.7.00 Crores

----------

NCDC Loans: (Rs. in Crores)

Name of LoanAmount availedRemittedBalance

Working Capital Loan 7.00 7.00 --

Investment Loan 8.85 5.52 3.33

Term Loan 8.42 3.29 5.13

Subsidy 4.98 -- --

Interest -- -- --

--------- -------- --------

Total 29.25 15.81 8.46

--------- -------- --------


Achievements and credit past performance awards
ACHIEVEMENTS AND CREDIT for assisting SPINCOPAST PERFORMANCE AWARDS


Classification of societies
CLASSIFICATION OF SOCIETIES for assisting SPINCO

  • 2005-2006 }

  • 2006-2007 }

  • 2007-2008 } ‘B’ Class

  • 2008-2009 }

  • FAM 2009-2010 Under progress

  • FAM 2010-2011 Auditor appointed


Before modernaization after modernization

BLOWROOM for assisting SPINCO

BEFORE MODERNAIZATION AFTER MODERNIZATION


Before modernaization after modernization1

RING FRAME for assisting SPINCO

BEFORE MODERNAIZATION AFTER MODERNIZATION


Before modernaization after modernization2

CONE WINDING for assisting SPINCO

BEFORE MODERNAIZATION AFTER MODERNIZATION


Modernized
MODERNIZED for assisting SPINCO

AUTOMATIC BALE PLUCKER

( L M W )


MODERNIZED for assisting SPINCO

CARDS (LMW)


MODERNIZED for assisting SPINCO

AUTO LEVELER DRAWFRAME

( L M W )


MODERNIZED for assisting SPINCO

SPEED FRAMES (LMW)


E mail spincopondicherryerry@yahoo in website www spinnco com

e-mail: for assisting [email protected]:www.spinnco.com

Address to Contact: The Pondicherry Coop. Spinning Mills Ltd.,

Puducherry-Villupuram National High Way,

Thirubuvanai, PUDUCHERRY 605 102.

Fax: .. 0413 – 2640156

Phone: .. 0413 – 2640146 / 2640166


Thank You Madam for assisting SPINCO


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