Sri Ramakrishna Mills (SRM), incorporated in 1946, operates in the Textile Spinning and Real Estate sectors. With spinning mills in Coimbatore, Nagari, and Sathyamangalam, the company boasts a total capacity of 75,944 ring spindles and 912 rotors. Despite a reduction of 3,080 obsolete spindles and the addition of nine automatic winding machines in 1994-95, SRM has consistently pursued modernization to enhance quality and productivity. The company is a member of the South India Textile Research Association (SITRA).
Challenged by rising cotton and input costs, SRM has sustained its export growth. However, financial difficulties led to a reference to the Board for Industrial and Financial Reconstruction (BIFR) due to eroded net worth. Consequently, SRM initiated a Corporate Debt Restructuring Proposal with its creditors, including IDBI, which was approved in September 2003. These moves indicate SRM's commitment to overcoming financial hurdles while maintaining its operational capabilities in the textile industry.
