Kandagiri Spinning Mills Limited (KSML) was incorporated on 5th May, 1976 under The Companies Act, 1956 under the name of "The Ammapet Sizing Mills (P) Limited". Later on the name was changed to "Kandagiri Spinning Mills (P) Limited" pursuant to special resolutions passed on 17th April, 1978. The change of name was approved by the Central Government under Section 21 of the Act and a fresh Certificate of Incorporation dated 15th July, 1978 was obtained. The word "Private" was deleted under the provisions of Section 43 A (2) of the Act with effect from 1st January, 1989 and the Company has become full fledged Public company with effect from 21st November, 1992. The company commenced commercial production in 1979 with an Installed Capacity of 3260 Spindles. The spindlage has been increased by utilising internal accruals and borrowings over the years as under. Year Installed Capacity 1983 10400 1986 18700 1988 23500 1991 24652 1993 28492 1994 33212 As on 07/09/1994 the Company has an Installed Capacity of 38012 Spindles. The company earlier contemplated approaching the capital market in April 1993 by way of PCD issue, which was deferred due to the disruption of the capital market due to bomb blast in Bombay. 2005 -The Company has recommended a dividend of Rs 3.50/- per share of face value of Rs 10/-. 2006 -The Company has recommended a dividend of Rs 5 per share of face value of Rs 10. 2007 -The Company has recommended a dividend of Rs 5 per share of face value of Rs 10 each. 2008 -The Company has recommended a dividend of Rs 2 per share of face value of Rs 10 each. 2011 -The Company recommended a final dividend of Rs. 2 per equity share of Rs. 10 each. 2012 -The Board has inducted Sri S. Gnanasekharan, as an independent director. 2014 -Sri S. Vijay Shankar has been designated as Chief Financial Officer of the Company.