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Eastern Silk Industries (ESI) Ltd is set to reap the benefits of integrated operations now that the court approvals are in place for the amalgamation of Sstella Silks Ltd and Eastern Jingying Ltd with ESI.

The turnover and net profit of the combined entity for the year ended March 31, 2005 stands at Rs 347.48 crore and Rs 25.53 crore respectively.

The turnover, on consolidated basis, as on September 30, 2005 works out to Rs 203.62 crore against Rs 180.62 crore in the corresponding half of 2004-05.

The paid-up equity capital of the company after merger will be Rs.13.49 crore divided into 1, 34, 90,524 shares of Rs.10 each.

The machine-made fabric capacity of the company after amalgamation will be about 14 lakh metres per annum.

Yarn capacity will be 800 tonnes per annum.

ESI today imports nearly 70 per cent of its annual yarn requirement of 800 tonnes per annum from China while the balance comes from its own spinning mill.

Part of its fabric requirement is met by Sstella Silk while Eastern Jingying supplies silk yarn.

Elaborating on the company's growth potential, S S Shah, Chairman of ESI Ltd said: 'They are gradually shifting from handloom fabrics to machine-made fabrics.

For further value addition, they are setting up state-of-the-art facilities at Bommasundra for manufacture of made-ups and fashion fabrics for the highly discerning buyers in the USA and Europe.

Full benefits of their expansion plans will start accruing from 2006-07.

Their target is to achieve Rs 500 crore turnover by March 2007.'

ESI manufactures a wide range of textile products which include silk garments, made-ups, scarves, ties, stoles, belts etc.

Buyers are spread over USA, Canada, EEC, UK, France, Scandinavian, Middle East and EFFTA countries, Japan, Australia and New Zealand.

Significantly, the company has successfully moved up the value chain from handloom to high-end products in the shortest possible time.

The integration of all the three operations at Sstella Silks, Eastern Jingying and ESI is in place as the products of the units are marketed by the same sales team with a common pricing.

The designing of the fabrics has also been integrated together.

The only operation that has not been merged and integrated is in respect of the inter company pricing of materials.

The post-merger integration will also see some clubbing of common buyers and their requirement.

Besides, where human resources are overlapping, the same are being identified and necessary steps are being taken to downsize the same.

Discussions with the working capital bankers have already started and the assessment of working capital requirements of the combined entity are underway and the fine-tuning will be done once the operations are fully merged.

The Kolkata based Eastern Silk Industries Limted is a company with multifaceted business activities.

The present net worth of the company is about Rs.100 crores and it employs over 20,000 people directly or indirectly.

In the year 1958, the export house embarked on its overseas business, with an export turnover of Rs.0.5 lacs.

As on date, the export turnover proudly stands at a voluminous figure of Rs.295 crores.

An added glitter in its crown is the number of awards that the company has bagged over the years from various Export.

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