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आदित्य मिल्स लिमिटेड > कंपनी इतिहास > Diversified > कंपनी इतिहास का आदित्य मिल्स लिमिटेड - बीएसई: 502625, NSE: N.A

आदित्य मिल्स लिमिटेड

बीएसई: 502625  |  NSE: N.A  |  ISIN:  |  Diversified

कंपनी इतिहास - आदित्य मिल्स लिमिटेड
YEAR                       EVENTS
 1960 - The Company was incorporated on 7th July, at Calcutta.  The
        company's objects is manufacture of cotton yarn and cloth and
        mild steel ingots.
 
 1962 - 87,043 No. of equity shares issued to directors, etc. 5,000
 pref.
        and 1,00,000 No. of equity shares issued to the Govt. of 
        Rajasthan.  5,000 pref. and 2,50,000 No. of equity shares
 offered
        to the public.
 
 1963 - Issued capital fully subscribed during the year.  In 1966,
 6,500 
        No. of equity shares forfeited.
 
 1968 - 5,000 pref. and 50,000 No. of equity shares issued at par.
 
 1973 - The Company took up a scheme for setting up a mini steel
 plant
        at Tarapur, Maharashtra.
 
      - Redeemed 5,000 pref. shares each in July and in July 1974.
        2,06,500 rights equity shares issued in prop. 2:5.
 
 1976 - The two furnaces and other equipments were commissioned. 
 After
        working for a few days it was found to be unremunerative. 
 The
        plant was therefore closed.  It was recommissioned towards
 the
        end of 1977.
 
 1977 - 15,000 Right pref. shares issued in prop. 1:50.  Equity
 during
        1975.  150 No. of equity shares forfeited during the year.
 
 1980 - 150 forfeited equity shares reissued in May.  4,50,000 bonus
        equity shares allotted in prop. 3:5.  In early 1980, 5,000
 pref.
        shares redeemed in June.
 
 1985 - The profitability suffered a set back due to short supply of
        polyester viscose fibre, labour problems at the factory at
 Nagda
        and a sudden fall in excise duty on polyester staple fibre
 and
        blended yarn which had an adverse effect on polyester staple
        fibre, stick-in-process yarn inventories, etc.
 
      - The modernisation-cum-balancing scheme was implemented.  An
 open
        end sewing machine, an auto corner, two for one twister, an
        electronic yarn cleaner, a dyeing plant and diesel generating
        set were added under this scheme.
 
 1986 - The textile division incurred losses due to higher rate of
 Octroi
        duty, erratic power supply, sluggish market for synthetic
 blended
        yarn, hike in cotton prices by 100% and scarcity of water
 leading
        to procurement of water from outside sources at high cost.
 
      - In addition, capacity utilisation was affected during the
 third
        quarter of the year due to shifting of machines for 
        implementation of the modernisation-cum-balancing scheme.
 
      - Three open end spinning machines BDA-10, one two-for one
 twister
        and other equipments were added as part of the modernisation
        scheme.
  
 1987 - In the steels division, production was curtailed due to
 shortage
        in melting scrap availability.
 
      - The modernisation scheme undertaken by the mill had to be 
        abandoned midstream due to liquidity problems.
 
 1988 - The working of the textile division continued to be affected
 due
        to lower capacity utilisation owing to liquidity problems and
 
        poor product mix.
 
 1989 - The textile division showed some improvement due to fresh
 inflow
        of working capital funds, improved product mix and higher 
        capacity utilisation.
 
 1990 - 14% preference shares of the third series are redeemable at
 par
        within a period of 10 years from 12th June.
 
      - 15,000 - 11% pref. shares redeemed 32,231.79 - 14% pref.
 shares
        issued including the pref. shares issued equivalent to the
 pref.
        dividend in arrears from 1.1.1980 to 11.6.1990.
 
 1991 - Working of the textile division suffered a sharp setback
 mainly
        due to continuous rise in the prices of short and medium
 staple
        cotton without commensurate increased in yarn prices.  The
 mill
        also suffered on account of acute shortage of working capital
        and frequent stoppages in different departments due to
        inter-union rivalry.
 
      - Production in the steel division was lower than the previous
 year
        mainly due to acute scarcity of melting scrap and its low
        quality.
 
      - The steel plant was modernised by replacing one of its old 
        furnaces with a more sophisticated one incorporating
 state-of-the
        art technology.
 
 1993 - The company was compelled to suspend operations effective 8th
 May
        due to inter union rivalry and labour disturbances in the
 past
        several years.
 
      - Production suffered on account of teething problems in the
 new
        furnace commissioned at the end of the year.
 
      - During the year steel division suffered severe setback mainly
 due
        to extreme recessionary conditions compelling shut down of
        production for one month.
 
 1995 - The textile division incurred heavy losses due to the paucity
 of
        funds, heavy standing charges, including unwarranted
 employment
        cost, electricity charges and other fixed expenses.
स्रोत: रेलीगरे टेचनोवा

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