Veejay Lakshmi Engineering Works Ltd share Price

Incorporated in Aug.`74, Veejay Lakshmi Engineering Works (VLEWL) has been promoted by V J Jayaraman and his family. It manufactures textile machinery, particularly twisting machines, and textile spinning machinery and two-for-one twisters for spun yarn. The company has diversified into cotton yarn manufacture for the domestic and global markets. The textile process house at Mettupalayam was set up initially to produce/process 600 kg pd each of dyed/bleached yarn. It has installed four windmills each of 225 KVA capacity at Kethanur in Coimbatore, Tamil Nadu, to facilitate its future plans. To provide a smooth transition into yarn manufacture, it acquired a running textile mill at Udumalpet producing fine count yarn. The 7696 spindles mill was modernised and spindle strength progressively increased to 11520 in 1994-95. The new mill at Mettupalayam, Tamil Nadu, is working at full capacity (15360 spindles) from Mar.`96. The company obtained the ISO 9002 certification from TUV, Germany, for its engineering unit at Sengalipalayam unit and ISO 9001 certification for its engineering unit at Kariampalayam. The company`s new project to manufacture automatic cone winders for which it has entered into a joint venture with Savio Machine Tessili, Italy has commenced production. The company is concentrating on the indigenous development of the components for which order has been placed for import of laser cutting machine from Japan. The company is also taking efforts to promote the twisting machines in Mexico, Egypt, Turkey and Indonesia. The textile units are also now concentrating more on the export market and the company will aim for 100% exports in textile units. In 1999-2000, the company received a Special award for exports of Textile machinery from the federation of Indian Textile Engineering Industry.