The company was incorporated in Avinashi, Tamil Nadu, a public limited company under Part IX of the Companies Act, 1956, pursuant to a certificate of incorporation dated November 18, 2005 issued by the Registrar of Companies, Tamil Nadu located at Coimbatore. They are the leading manufacturer...
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SP Apparels Ltd. should be analysed on a Consolidated basis
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The company was incorporated in Avinashi, Tamil Nadu, a public limited company under Part IX of the Companies Act, 1956, pursuant to a certificate of incorporation dated November 18, 2005 issued by the Registrar of Companies, Tamil Nadu located at Coimbatore. They are the leading manufacturer and exporter of knitted garments for infants and children in India. These are manufactured at our integrated facilities that allow them to provide end-to-end garment manufacturing services
The company was incorporated in Avinashi, Tamil Nadu, a public limited company under Part IX of the Companies Act, 1956, pursuant to a certificate of incorporation dated November 18, 2005 issued by the Registrar of Companies, Tamil Nadu located at Coimbatore. They are the leading manufacturer and exporter of knitted garments for infants and children in India. These are manufactured at our integrated facilities that allow them to provide end-to-end garment manufacturing services from greige fabric to finished products. They also manufacture and retail menswear garments in India under the brand ‘Crocodile’. They believe their core competency lies in their clear understanding of the specifications of knitted garments in the infants and children category, the buying preferences of their customers and their ability to deliver products of a consistent high quality that meet the product specifications and stringent compliance requirements of their international customers. The company have long-standing relationship with their major customers has been one of the most significant factors contributing to their growth.
SP Apparels operates 21 manufacturing facilities in and around the region of Avinashi in Tamil Nadu. Company has 4,874 sewing machines, eight cutting machines, 79 embroidery machines, 17 printing machines, 16,896 spindles and 22 dyeing machines.
Business area of the company
They also manufacture a broad range of menswear garments consisting of shirts, polo shirts, t-shirts, trousers, jeans, sweaters, jackets and men's innerwear consisting of vests, briefs, boxer shorts and socks under the brand 'Crocodile' which is subsidiaries through an agreement with Crocodile International Pte Limited, Singapore. They mainly export their products to United Kingdom. During financial year16, the company exported approximately 35.98 million pieces of knitted garments for infants and children directly to its international customers, including TESCO and Primark.
Major events and milestones:
1989: Started export operations as a partnership firm.
1998: Set-up our own manufacturing facility at Neelambur.
2001: Commissioning of the first wind energy generator.
2003: Set-up first in-house embroidery facility at Thekkalur.
2004: Set-up our flagship factory at Avinashi with full garment conversion process (from cutting to packing).
2005: Conversion of the partnership firm to our Company.
2005:Set-up first in-house printing facility at Avinashi.
2005: Commissioning of our own dyeing plant at SIPCOT, Perundurai.
2006: Investment by NYLIM India Fund II in our Company pursuant to the SSSA.
2006: Acquisition of majority shareholding in CPPL pursuant to a share transfer agreement dated May 24, 2006 and a memorandum of understanding dated May 24,
2006 executed among CIPL, CPPL, our Company and Shivarams Associates Private Limited.
2006: Addenda to the Technology License Agreement dated May 16, 2006 executed by our Subsidiary, CPPL with Crocodile International Pte Limited in 1996, for the use of the ‘Crocodile’ brand.
2007: Acquisition of the ‘Natalia’ brand pursuant to an agreement dated February 20, 2007.
2007: Amalgamation of S.P. TexFab Private Limited with our Company pursuant to a Scheme of Amalgamation sanctioned by the High Court of Madras with effect from March 21, 2007.
2008: Amalgamation of Sri Balaji Bakkiam Spinning Mills with our Company pursuant to a Scheme of Amalgamation sanctioned by the High Court of Madras with effect from May 13, 2008
2008: Acquisition of our retail division from CPPL, on a going concern basis.
2009: Reschedulement of term loan facilities from State Bank of Mysore and State Bank of Indore. The facility availed from State Bank of Indore has been repaid by our Company subsequently.
2010: Formulation and implementation of a foreign exchange policy for our Company.
2011: Sale of wind mills owned by our Company to Maple Renewable Power Private Limited pursuant to a slump sale agreement dated December 23, 2011.
2013: Investment by Euro Asia pursuant to the Investment Agreement.
2014: Incorporation of a wholly-owned subsidiary, SPUK in the United Kingdom.
2014: Reschedulement of term loan facility from Andhra Bank.
2015: Execution of the Sub-Licensing Agreement with its Subsidiary, CPPL to manufacture, distribute and market products under the ‘Crocodile’ brand.
2015: Transfer of 12 retail stores by Poornam to the Company pursuant to the Slump Sale Agreement.
Awards and Accreditations:
2006: Awarded ‘Outstanding New Vendor’ by The Children’s Place (Disney Store, North America).
2007: Received ‘Worldwide Responsible Apparel Production’ certification.
2009: Recognized as ‘Star Export House’ by the Government of India.
2009: Awarded 'Trading Fairly Award' by TESCO for setting benchmarks in Tirupur for labor standards compliance, investing in workers and supporting community projects.
2010: Awarded ‘Tamil Nadu State Government Safety Award 2010’ by the Directorate of Industrial Safety and Health, Government of Tamil Nadu for the least number of accidents.
2011: Awarded ‘Tamil Nadu State Government Safety Award 2011’ by the Directorate of Industrial Safety and Health, Government of Tamil Nadu for the least number of accidents.
2011: Awarded ‘Best Newcomer’ by Marks & Spencer Children’s Suppliers Awards 2011.
2011 – 2012: Awarded ‘Values Award’ by TESCO.
2013: Awarded ‘F&F Gold Rated Supplier 2013’ by TESCO.
2013: Received laboratory accreditation ISO/IEC 17025:2005 by the National Accreditation Board for Testing and Calibration Authorities, Department of Science and Technology, India.
2014: Received ISO 9001:2008 systems certification.
2014: Received laboratory testing accreditation by one of our customers.