| History and Major Events
Company's business was started as a Partnership Firm under the name and style of "Sai Silks" on August 10, 2005 with Mr. Chalavadi Naga Kanaka Durga Prasad and Mrs. Chalavadi Jhansi Rani as Partners. Further, on April 1, 2006, Mr. A Kalyan Srinivas and Mr. A. Subash Chandra Mohan were admitted as partners. Later, on March 4, 2008, another three new partners, Ms. Annam Suchitra, Ms. Annam Sowjanya and Mr. Annam Venkata Rajesh were admitted into partnership and also the name of the Partnership firm was changed to "Sai Silks
(Kalamandir)".
Our Partnership Firm was converted into a Private Limited Company under Part IX of the Companies Act, 1956. The Certificate of Incorporation was obtained on July 3, 2008 under the name and style of Sai Silks (Kalamandir) Private Limited from the Registrar of Companies, Andhra Pradesh.
Our Private Limited Company was subsequently converted into a Public Limited Company and the fresh certificate of incorporation consequent upon change of name on conversion to public limited company was obtained on May 21, 2009 from the Registrar of Companies, Andhra Pradesh and the name of our company was changed to its present name, Sai Silks (Kalamandir) Limited.
We are mainly in the business of retailing of sarees under the brand name of "KALAMANDIR ", "MANDIR "& "VARAMAHALAKSHMI ".
We started as a retailer of sarees in Hyderabad in August 2005 on a very modest scale with a Retail Outlet of 3,213 square feet. We rented a retail space in Ameerpet in Hyderabad and sold traditional sarees like Silk Sarees, Handloom Sarees, Synthetic Sarees, etc. As on the date, we operate 15 retail outlets and these outlets are cumulatively spread over in 129,035 square feet.
The company is presently engaged in offering of the following products to all the segments:
1- Sarees
2- Women's dress materials and readymades
3- Men's wear
4- Kid's wear
5- Gold Jewellery
Our retail outlets cater to the entire range of sarees in the price range of ` 300 to `3,50,000.With evolution of
retail industry in India and change in consumer aspirations, we diversified our portfolio of offerings to include
other retail goods like Women dress materials & readymades, Kids wear and Men's wear. Currently, we sell
different varieties of sarees for different occasions and ready-made apparels for women, men and kids in our
retail outlets. In order to expand our products range, we also undertook display and sale of gold and silver
ornaments in our outlets under franchise and shop in shop model. Accordingly, a franchisee arrangement was
entered on April 1, 2008 with Tanmai Jewellers Private Limited for retail outlets at Hyderabad. Our Company
had also entered into shop in shop arrangement with Sai Swarnamandir Jewellers Private Limited on April 1,
2009 for a period of 9 years for display and sale of their gold and silver jewellery in our retail outlets located at
Jayanagar, Marathahalli and Malleshwaram, Bengaluru.. Presently, we are displaying and selling their gold
and silver jewellery in our retail outlets located at Jayanagar and Malleshwaram, Bengaluru only.
Wind Farm Power Activity
Our Company has forayed into the business of generation of electricity through non-conventional energy
sources by setting up a Wind Power Project having a capacity of 2 MW at Kondamedapally, Kurnool District,
Andhra Pradesh at a project cost of ` 1120 lakhs.
Our Board of Directors in their meeting held on August 5, 2010 resolved in-principle to enter into the business
of generation of electricity and passed enabling resolution in this regard. Our promoters have their core
competence in the retail business where they have an established track record of accomplishment of more than 7
years. In order to diversify the existing business, our Company entered into the business of power generation
through non-conventional energy sources. It was also decided to obtain the basic approvals from the concerned
authorities and departments before approaching the members of our Company for their consent.
Since the proposed line of business was relatively new to our Company as well as to its promoters, it was
decided to avail the guidance and services of a reputed EPC Contractor in the field of power particularly
renewable energy. In this regard, our Company engaged Shriram EPC Ltd., Chennai, as EPC Contractor, to set
up the business on our behalf on a turnkey basis. It was proposed to set up a 2 MW Wind Farm Project on
turnkey basis at Kondamedapally, Kurnool district, Andhra Pradesh. In this context, our Company placed
purchase / work orders with Shriram EPC Ltd on August 11, 2010 in terms of which Shriram EPC Ltd. was
inter alia required to supply 8 WEGs of 250 KW each, DP Structure and Internal Lines, undertake Erection,
Commissioning and Testing of WEGs and carry out civil work, electrical work and infrastructure for the site
and liasioning with all governmental agencies for obtaining the approvals to complete the project.
Shriram EPC Ltd. had in December 2009 obtained allotment of Wind Farm Power project to be set up at
Kondamedapally, Kurnool District, Andhra Pradesh from Non-Conventional Energy Development Corporation
of Andhra Pradesh Limited (NEDCAP), Nodal Agency of Andhra Pradesh Government with a permissible limit
to develop upto 4 MW capacity wind power project.
In August 2010, our Company approached NEDCAP for transfer of 2 MW load out of the aforesaid 4 MW
Wind Farm Power Project sanctioned to Shriram EPC Ltd.
NEDCAP has accorded its permission for the said transfers in favour of our Company vide its letter no.
NEDCAP/WE/4694/2010 dated August 16, 2010. Consequently our Company entered into an agreement with
NEDCAP on August 17, 2010 for setting up the said Wind Power Project at Kondamedapally, Kurnool District,
Andhra Pradesh and entered into a Power Purchase Agreement on March 31, 2011 ("PPA") with Central Power
Distribution Company Limited of Andhra Pradesh (DISCOM).
In order to make financial arrangements for the said Wind Power project, our Company approached State Bank
of India, which sanctioned a term loan of ` 7.84 Crores, vide its letter dated September 2, 2010.
Since, the proposed line of activity, i.e., wind power generation was not germane to the existing line of business,
our company resolved to make suitable amendments to the Memorandum of Association and commence the
business. In this regard, an Extraordinary General Meeting of the Members was convened and duly held on
February 17, 2011, for amending the Memorandum of Association and enabling our Company to commence and
carry on the business of generation of electricity and a special resolution approving the amendment was passed
in the said EGM. The same was filed with the Registrar of Companies, Andhra Pradesh (`ROC') for giving
effect to the alteration of the Object Clause. ROC has since confirmed the alteration of Object Clause vide
certificate dated March 28, 2011 issued u/s 18 (1) of the Companies Act, 1956.
Shriram EPC Ltd. has completed the implementation of 2MW e Wind Power Project. 1 MW was commissioned
on March 31, 2011 and remaining 1MW was commissioned on July 16, 2011 but the Commercial Operation
Date has been considered as March 31, 2011 by the DISCOM as per Article 1, clause 1.4 of the PPA. The power
generated is not meant for captive consumption and is sold to Andhra Pradesh Central Power Distribution
Company Limited (APCPDCL) as per Power Purchase Agreement (PPA) dated March 31, 2011. As per the
PPA, out of the 2 MW capacity, 0.01 MW is permitted for auxiliary consumption and 1.99 MW for export to
network for sale to DISCOM at the rate of ` 3.50 per unit for a period of 10 years from the commercial
operation date. The tariff payable beyond 10th
year of operation will be as determined by Andhra Pradesh
Electricity Regulatory Commission (APERC). The revenue generated from wind power generation for the
period ended October 31, 2012 is ` 47.57 Lakhs.
Major Events of our Company
2005 - Started as a Partnership Firm on August 10, 2005 under the name and style of "Sai Silks" with Mr.
Chalavadi Naga Kanaka Durga Prasad and Mrs. Chalavadi Jhansi Rani as partners.
2006 - Mr. A Kalyan Srinivas and Mr. A. Subash Chandra Mohan were admitted as partners
Started the Second Retail Outlet in Dilsukhnagar, Hyderabad
2007 - Started the Third Retail Outlet in Kukatpally, Hyderabad.
Additonal three more partners, Ms. Annam Suchitra, Ms. Annam Sowjanya and Mr. Annam
Venkata Rajesh were admitted to partnership
2008 - Converted the existing Partnership Firm into a Private Limited Company on July 3, 2008 under
Part IX of the Companies Act, 1956 under the name and style of Sai Silks (Kalamandir) Private
Limited.
Started the Fourth Retail Outlet in Jaya Nagar, Bengaluru.
Started the Fifth Retail Outlet in Malleswaram, Bengaluru.
Started the Sixth Retail Outlet in Guntur.
Started the Seventh Retail Outlet in Marathahalli, Bengaluru.
Started the Eighth Retail Outlet in M.G. Road, Bengaluru.
2009 - Our Private Limited Company was converted into a Public Limited Company and received fresh
Certificate of Incorporation upon change of name on conversion to public limited company on May
21, 2009.
Started the Ninth Retail Outlet in Chickpet, Bengaluru.
2010 - Started the Tenth Retail Outlet in Patny, Secunderabad.
Started the Eleventh Retail Outlet in Vijayawada.
2011 - Started the Twelfth Retail Outlet in Banjara Hills, Hyderabad.
Started the Thirteenth Retail Outlet in Chickpet, Bengaluru.
2012 - Started the Fourteenth Retail Outlet in Kanchipuram, Tamilnadu.
Started the Fifteenth Retail Outlet in Hanumakonda, Warangal District, Andhra Pradesh
Awards & Recognitions
2012 - Retailer of the year for Excellence in Traditional Fashion & Lifestyle Retailing by Asia Retail Congress
Master Brand for Brand "KALAMANDIR" by CMO Council & CMO Asia
2021
-SSKL received "Trusted Group Of The Year, Textiles & Garments Make In India Emerging Leader Awards".
2022
-SSKL received "Most admired company of the year Business Leader of the year awards by CMO Global".
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