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2.3 HISTORY & GROWTH

Mr.M.C.Jacob founded the Anna Aluminium Company in the year 1968, he made a break with

the past. Belonging to an affluent family of plantation owners, he ventured in to the risk world

of manufacturing industry and hoped for the best, He had initial problems but with a lot of

hardship and a bit of luck the company became a success. Anna Groups weaving unit, Kitex

Limited was established in 1975. The company is engaged in the production of fabrics made

of cotton and other blends, grey cloth, bed sheets and lungies. Kitex products are marketed

through 4000 authorized dealers. Kitex fabrics are now exported to many parts of the world.

Kitex is going in for a major expansion plan to augment the production capacity.

2.4 LEGAL FRAMEWORK OF THE COMAPNY

Legal frame work of the company means the rules and regulations which governs the company.

To be more precise it means the rules and regulations that each and every individual employees

of an organization perform. KITEX Ltd has well-structured legal frame work which can be

considered to be the most important factor for the success of the organization.

A standing order has been issued to each and every member of the organization. This standing

order prescribes the manner in which every member should perform their respective tasks. It

also contains a detailed report on the rights of each individual in the organization. An employer

cannot dismiss a particular employee in the organization without following certain procedures

that they must act within the legal frame work of the organization.

2.5 VISION

A world class manufacturing company focusing on all round business excellence through a

Total Quality Management system with committed leadership, effective team work, delighted

customers, and satisfied employees in an environment friendly organisation.

2.6 MISSION

Kitex Limited is committed to manufacture and deliver quality fabric and processed fabric as

per customer specification, efficiently in a professional and environment friendly manner, on

time and at the right cost with utmost customer satisfaction, while driving to become a world

class organisation through continual improvement.

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Total built up area : 16, 50,000 sq. Feet,

400 modern looms,

Number of workers : 2000

Production Capacity : 40,000 mtr per day

Annual Turnover : 125 crores

Growth : Steady

Founder : Mr. M.C.Jacob

Director : Bobby.M.Jacob,

Auditor : Varma & Varma Co

Bankers : Federal Bank, ICICI, Canara Bank

2.2 OWNERSHIP PATTERN

Mr.Bobby.M.Jacob holds majority of the shareholdings of the company. Mrs.Mini.M.Jacob

holds most of the shares after him. KITEX Ltd is a private limited company with 3 directors

they are Mr.M.C Jacob, Mr. Bobby M Jacob Mrs. Mini Bobby Jacob. Most of the shares were

held by them and their relatives. After the passing of Mr.M.C Jacob his shares were absorbed

by Mr.Bobby.M.Jacob.

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CHAPTER: 6