The Company was originally incorporated under Companies Act 1956 as a Private Limited Company on 12.10.1990 (Certificate of Incorporation No.21-50020 of 1990 issued by Registrar of Companies, West Bengal) in the name of Acknit Knitting Private Ltd. Subsequently the Company has been converted into a Public Limited Company and the name was changed to Acknit Knitting Limited and fresh certificate of incorporation was obtained from Registrar of Companies, West Bengal at Calcutta on 08.08.94 consequent upon change of name. In pursuance of its object, the Company has set up a 100% Export Oriented Unit at Falta Export Processing Zone, West Bengal in the year 1991 by installing only 20 fully computerised knitting machines imported from Japan. Installed production capacity of the unit was then 108000 dozen pairs of Seamless knitted handgloves. The unit commenced commercial production from September'91 and has been successfully exporting its entire production since then. Quality of the products manufactured by the Company was well accepted in the international market since very beginning. Encouraged with the potential of manufacture and export of the product, the Company embarked upon an expansion plan during the second year of production itself with another 40 fully automatic computerised knitting machines of Japanese make. All these machines have been successfully commissioned and commercial production therefrom has already commenced. The Company has been able to successfully export its products to countries like Italy and France. To penetrate other overseas markets as well as for expansion of export sales in their existing markets, the Company had been awarded with a grant assistance of US$ 16,500 by Bank Of Baroda under its World Bank aided Export Development Fund in the year 1993-94. The Company has all along been exporting its products only to GCA countries thereby earning valuable foreign exchange for the country. Having established itself in the export market supported by the confidence of overseas clientele as demonstrated by large scale repeat orders, the Company has planned to undertake further expansion of capacity with an element of horizontal diversification of product range for 100% export at an estimated project cost of Rs.412.19 lacs to gain from the potential of export of such products and current governmental policies and thrusts towards export. MAIN OBJECTS OF THE COMPANY : The main objects of the Company are set forth in the Memorandum of Association and include, inter alia, 1. To establish, carry on, maintain, operate and run in India or elsewere business of trading, re-sale, manufacture, production, process, conservation and to do job work of all kinds and forms of cotton, hosiery, knitting, synthetic, woolen, canvas, handgloves, socks, sleeves, underwear garments, readymade garments, sweaters, cardigans, shawls, hankies caps and shoes made from or based on one or more of the products, or articles mentioned herein above and exports, imports of such hand-gloves, socks, sleeves, yarn, cloth and such raw materials, clothes, yarn and other textiles and allied products and dealing in their wastages and by-products. 2. To import, export, buy, sell or deal in hand-gloves, socks, sleeves, underwear-garments, readymade garments and hosiery, curtain and furnishing items, decorations and art goods made of cloth, piece-goods and to establish retail chain of stores, offices, shops, show-rooms, depots in India or abroad. 2005 -Board recommends dividend of 20%. 2008 -Company name has been changed from Acknit Knitting Ltd to Acknit Industries Ltd. 2009 - Acknit Industries Ltd has recommended for payment of Dividend at 15% i.e. Rs 1.50 per share. 2011 - Acknit Industries Ltd has recommended a dividend at Rs. 1/50 per share i.e. @ 15% . 2012 - Acknit Industries Ltd has recommended payment of a dividend at 15% i.e., @Rs. 1.50 per share 2014 - Acknit Industries Ltd has recommended payment of dividend at Rs. 1.50 per share.