Pioneer Embroideries Ltd
PION

Pioneer Embroideries Ltd (PIONEEREMB)

₹44.250.23%

Key Stats

₹43.85
Day's Price Range
₹45
₹34
52-Week Price Range
₹78.7
1 Month Return1.37 %
3 Month Return0.22 %
1 Year Return-31.19 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 94
10.66
EPS
Rank 202
₹4.13
BVPS
Rank 265
₹39.85
Dividend Yield
Rank 139
0.63%
ROE
Rank 79
19.21%
Price To Book Ratio
Rank 86
1.1
Debt To Asset
Rank 355
0.43

Company Information

Pioneer Embroideries PEL promoted by Rajkumar Sekhani and Manak Chand Baid was incorporated in Oct.91 at Bombay to design and manufacture embroidery fabrics and laces at GIDC. PEL came out with a public issue in Sep.93 to partfinance this project. The project was delayed by six months due to nonarrival of machinery and technical problems and went on stream only in Mar.94.During 199697 to improve the bottom lines of the company and to meet the growing demand in fashion industry it has taken up a expansion project at Silvassa by importing 12 computerised embroidery machines having installed capacity of 46 lac meters p.a. The financing was done through by way of equity issue or optional redeemable convertable preference shares to the promoters Directors their friendsrelatives and associates and the same was commissioned during 199798. During 19992000 the Crochet Lace Division started commercial production. The Company in order to consolidate its manufacturing base in embroidery has signed a memorandum of understanding with promoters of Salzer Textiles Limited an Embroideries Manufacturer for taking over that company.The company has acquired the management control of Coimbatore based Salzer Textiles LimitedSTL a 100 EOU and embroidery manufacturer by acquiring 49.11 stake in the company during 200001. STL has an installed capacity of 540 million stitches p.a. In 200102 it has increased it stake to 52.49 making the Salzer Textiles as Subsidiary company. The company has also acquired the manufacturing base of Fancy Corporation Limited at BorivaliMumbai and has installed 3 latest computerized embroidery machines in 200102. Out of the 4 machines three machines were installed in 200203 and erection of two more machines was also completed and the commercial production is expected in the second quarter of the current financial year. The machines were installed at the Borivali plant. The total cost of the expansion were Rs.2650 lac.The expansion of bobbin lace division under 100 EOU unit at Silvassa was also completed as per the schedule at a estimated outlay of Rs.350 lac which were funded through internal accruals of the company. The Brand Hakoba has also been acquired from Fancy Corporation Ltd.The company has expanded the installed capacity of Embrodiery during the financial year 200304 by 1976470000Nos and with this expansionthe total capacity has risen to 3358870000Nos.During April 2004Salzer Textiles Ltd has been merged with the company and according the scheme of merger during May 2004Shareholders of Salzer Textiles Ltd have been allotted One Equity Share of Rs.10 each of Pioneer Embroideries Ltd for every Twenty Five Shares of Rs.10 each held.Another companyJ J Textiles Ltddoing job work for PEL has also been merged with the company and during May 2004according to the scheme of AmalgamationOne Equity Share of Rs.10/ each have been allotted for every Three Equity Shares held by the shareholders in J J Textiles Ltd.
OrganisationPioneer Embroideries Ltd
HeadquartersMumbai
IndustryTextiles