Pioneer Embroideries Ltd - Stock Valuation and Financial Performance

Pioneer Embroideries, a Pioneer Group Company was incorporated on  October 25,1991 under the companies Act 1956 in the state of Maharashtra at Mumbai. The company has been promoted by Raj Kumar Sekhani and Baid Pioneer

Pioneer Embroideries Limited is one of the largest manufacturer-exporter of embroideries, Torchon/Bobbin laces, Raschel laces and other garment accessories. It is also the proud owners of the no.1 retail brand for embroidered clothing 'Hakoba'.

With an outstanding operational infrastructure, superb craftsmanship and obsession for the best quality, it has not taken long to create waves in the international market. Today they have established an impeccable reputation and carved a permanent niche in the industry throughout the world. Their impressive international roster includes clients from the North America, Latin America, Europe, the Middle East and Africa. Pioneer is also the largest player in the domestic market. Catering to millions of satisfied customers already, Pioneer Group is now poised to move ahead in leaps and bounds.  They have a qualified and highly motivated design development team, which is constantly working towards generating new design to match the latest trends across the globe. State-of-the-art software and machines are used with trained personnel for monitoring the output, matching it to their own high and exacting standards. They are constantly working on developing new lines that matches the design specifications and requirements of their new clients. Today they have over 40,000 designs in their library to select from.

Product range of the company includes:

• Embroideries
• Braided Laces
• Knitted
• Yarns

The products offerings are patronized by garment exporters, manufacturers and designers for their clientele in US, Europe, Africa, Middle-East & Far-Eastern countries.

Milestones:

• 1991: Pioneer Embroideries Ltd. gets incorporated.
• 1993: Goes public through and IPO, and gets its equity shares listed at the Mumbai, Delhi, Kolkata and Ahmedabad Stock Exchange.
• 1994: Sets up its first Embroidery Manufacturing plant at Sarigam in Gujarat.
• 1995: Establishes Marketing Offices at Mumbai, New Delhi, Kolkata & Ahmedabad.
• 1996: Sets up the Crochet Lace Braiding unit at Dadra, a Union Territory.
• 1997: Sets up the 2nd Embroidery Manufacturing plant at Naroli, also in the Union Territory of Dadra & Nagra Haveli.
• 1998: Sets up an Inhouse Processing, Dying & Finishing plant at its Sarigam Unit.
• 1999:1.) Declares a maiden dividend of @ 10%, continues to pay increased dividends.
• 2.) Sets up its 2nd Crochet Lace Braiding Unit at Naroli, expanding capacity almost ten-fold.
• 3.) Sets up a Digital Designing Studio & a Multihead Embroidery Unit at Mumbai.
• 2000: Acquires controlling stake in Salzer Textiles Limited, Coimbatore, an 100% EOU, by buying out foreign and local promoters of the company.
• 2001: Achieves turnover of excess of Rs 50 cr for the first time, for FY 2000-01
• 2002: 1.) Acquires the famous Hakoba Brand and embroidery manufacturing facilities of M/s Fancy Corporation Limited at Borivali, Mumbai.
• 2.) Expands the capacity of the Multihead Embroidery Unit at Mumbai.
• 2003: 1.) Acquires Reach Industries Pvt. Ltd., a high tech wrap knitting company.
• 2.) Sets up retail network under brand Hakoba, positioning it as an exclusive store for embroidery and other products.
• 3.) Initiates process for merging Salzer Textiles Ltd., and J J Textiles Ltd., a group company with itself.
• 2004: Merges Salzer Textiles Ltd. and J J Textiles Ltd., with itself after obtaining the High Court approval dated 15.01.2004