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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. 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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  1. A Profile of SPINCO THE PONDICHERRY CO-OPERATIVE SPINNING MILLS LIMITED THIRUBHUVANAI , PUDUCHERRY (AN ISO 9001-2008 UNIT)

  2. site plan of spinco

  3. 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

  4. 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)

  5. 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

  6. Categories of Administrative & Technical Staff

  7. CATEGORIES OF MILL OPERATIVES

  8. 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/-

  9. DETAILS OF SHARE CAPITAL AND GRANT IN AID RECEIVED FROM GOVERNMENT AND UTILISATION Authorised Share Capital is 5000 lakhs: -- 2 --

  10. -- 2 --

  11. PRESENT WORKING CONDITION OF SPINCO Rs in lakhs

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

  13. FINANCIAL RESULTSPerformance Chart Sales Value in Lakh Rupees Production in Lakh Kgs. per year

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

  15. MONTHLY COST ANALYSIS

  16. Causes for working on Loss • High Establishment Cost • Low Productivity • Under utilization of machines • Market Fluctuations

  17. Causes for working on Loss

  18. 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.

  19. Performance comparison to the Industry StandardsBased on Key Performance Indicators

  20. PROPOSAL OR REVIVALS OF MILLS/ECONOMIALLY VIABLE FUNCTION

  21. Process Flow with workers complimentary with SITRA standard

  22. 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 ---------- Total 3213.00 -----------

  23. 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

  24. 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)

  25. 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 --------- -------- --------

  26. ACHIEVEMENTS AND CREDITPAST PERFORMANCE AWARDS

  27. CLASSIFICATION OF SOCIETIES • 2005-2006 } • 2006-2007 } • 2007-2008 } ‘B’ Class • 2008-2009 } • FAM 2009-2010 Under progress • FAM 2010-2011 Auditor appointed

  28. BLOWROOM BEFORE MODERNAIZATION AFTER MODERNIZATION

  29. RING FRAME BEFORE MODERNAIZATION AFTER MODERNIZATION

  30. CONE WINDING BEFORE MODERNAIZATION AFTER MODERNIZATION

  31. MODERNIZED AUTOMATIC BALE PLUCKER ( L M W )

  32. MODERNIZED CARDS (LMW)

  33. MODERNIZED AUTO LEVELER DRAWFRAME ( L M W )

  34. MODERNIZED SPEED FRAMES (LMW)

  35. e-mail:spincopondicherryerry@yahoo.inWebsite: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

  36. Thank You Madam

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