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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

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A profile of spinco

A Profile of SPINCO

THE PONDICHERRY CO-OPERATIVE SPINNING MILLS LIMITED

THIRUBHUVANAI , PUDUCHERRY

(AN ISO 9001-2008 UNIT)


Site plan of spinco

site plan of spinco


A profile of spinco

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


A profile of spinco

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


Categories of administrative technical staff

Categories of Administrative & Technical Staff


Categories of mill operatives

CATEGORIES OF MILL OPERATIVES


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/-


A profile of spinco

DETAILS OF SHARE CAPITAL AND GRANT IN AID RECEIVED FROM

GOVERNMENT AND UTILISATION

Authorised Share Capital is 5000 lakhs:

-- 2 --


A profile of spinco

-- 2 --


Present working condition of spinco

PRESENT WORKING CONDITION OF SPINCO

Rs in lakhs


Performance of the mills compared with sitra standard as on 31 3 2011

PERFORMANCE OF THE MILLS COMPARED WITH SITRA STANDARD AS ON 31-3-2011


Financial results performance chart

FINANCIAL RESULTSPerformance Chart

Sales Value in Lakh Rupees

Production in Lakh Kgs. per year


Financial results details of dues payable as on 31 3 2012

FINANCIAL RESULTSDETAILS OF DUES PAYABLE AS ON 31-3-2012


A profile of spinco

MONTHLY COST ANALYSIS


A profile of spinco

Causes for working on Loss

  • High Establishment Cost

  • Low Productivity

  • Under utilization of machines

  • Market Fluctuations


A profile of spinco

Causes for working on Loss


A profile of spinco

Performance Chart

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 StandardsBased on Key Performance Indicators


Proposal or revivals of mills economially viable function

PROPOSAL OR REVIVALS OF MILLS/ECONOMIALLY VIABLE FUNCTION


A profile of spinco

Process Flow with workers complimentary with SITRA standard


Project in pipeline modernization of spinco

PROJECT IN PIPELINEModernization 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

      ----------

      Total3213.00

      -----------


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

  • 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

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 CREDITPAST PERFORMANCE AWARDS


Classification of societies

CLASSIFICATION OF SOCIETIES

  • 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

BEFORE MODERNAIZATION AFTER MODERNIZATION


Before modernaization after modernization1

RING FRAME

BEFORE MODERNAIZATION AFTER MODERNIZATION


Before modernaization after modernization2

CONE WINDING

BEFORE MODERNAIZATION AFTER MODERNIZATION


Modernized

MODERNIZED

AUTOMATIC BALE PLUCKER

( L M W )


A profile of spinco

MODERNIZED

CARDS (LMW)


A profile of spinco

MODERNIZED

AUTO LEVELER DRAWFRAME

( L M W )


A profile of spinco

MODERNIZED

SPEED FRAMES (LMW)


E mail spincopondicherryerry@yahoo in website www spinnco com

e-mail:[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


A profile of spinco

Thank You Madam


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