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कोठारी इंडस्ट्रियल कॉर्पोरेशन > कंपनी इतिहास > Diversified > कंपनी इतिहास का कोठारी इंडस्ट्रियल कॉर्पोरेशन - बीएसई: 509732, NSE: KOTHARINDL

कोठारी इंडस्ट्रियल कॉर्पोरेशन

बीएसई: 509732  |  NSE: KOTHARINDL  |  ISIN: INE972A01020  |  Diversified

कंपनी इतिहास - कोठारी इंडस्ट्रियल कॉर्पोरेशन
1954 - A Textile Division was put up at Adoni.
 
 1959 - Another mill was put up at Coimbatore with 24,196 spindles. 
 The
        Kothari Textile Mill No. 1 and Mill No. 2 units at Coimbatore
        produced fine counts of yarn, including viscose staple fibre
 and
        polyester/cotton blends on hanks and cones and also
 manufactured
        higher medium mills, long-cloth, poplin, lawns, gaberdines
 and
        polyester-cotton shirtings and suitings.
 
      - The Adoni unit manufactures yarn counts ranging from 2s to
 40s
        single and double, yarn on hanks and cones, besides yarn of
        coarse, medium and fine counts for export market.
 
 1970 - The Company was incorporated on 1st July with the main object
 of
        taking over as going concern the entire undertaking of (1)
 Blue
        Mountain Estate and Industries Ltd. (2) Waterfall Estates
 Ltd.
        (3) Balmadies Plantation Ltd. (4) Kothari Textiles Ltd. and
 (5)
        Adoni Spg.& Wvg. Co. Ltd.
 
      - All shares subscribed for by signatories to the Memorandum of
        Association.
 
 1971 - 1,80,000 pref. and 22,25,850 No. of equity shares allotted
        without payment in cash to members of 6 companies under a
 Scheme
        of Amalgamation.
 
 1976 - 14,80,000 right equity shares issued at par in prop. 2:3 in
 June.
 
 1977 - In 1977-78, 13,00,000 No. of equity shares issued privately
 at
        par.
 
 1980 - 1,29,760 No. of equity shares issued at par to IFCI on part
        conversion on loan.
 
 1981 - ICICI, LIC, UTI, GIC and its subsidiaries, Rs. 200 lakhs by
 way
        of subscription to privately placed 13.5% debentures, with an
        option to convert 20% of the subscription amount into equity
        shares of the Company of Rs. 10 each at a premium of Rs. 2
 per
        share during 1st January, 1983 to 31st December, 1984.
 
      - Issued 4,00,000 No. of equity shares to IDBI and 3,00,000 No.
 of
        equity shares to LIC in conversion of loans.  Pref. shares
        redeemed.
 
 1983 - On 30th June, the Company revalued its tea and coffee
 plantation
        lands to represent the intrisic value.
 
      - 20,00,000 No. of equity shares issued on part conversion of
        10,00,000-13.5% debs. of Rs. 100 each (Rs. 36 of each debs.
        converted to 2 equity shares at prem. Rs. 8 per share on 1st
        October.
 
 1984 - Machine utilisation in the loom-shed decreased due to
 frequent
        load sheedding.  This coupled with increased fibre and
 filament
        yarn prices adversely affected the working of textile
 division.
 
      - Again as on 30th June, the Company revalued the building and
        plant and machinery in the plantations, land, building and
 plant
        and machinery of the textiles division and land, buildings
 and
        plant and machinery of the coffee curing division.
 
      - The name of the Company was changed from Kothari (Madras)
 Ltd.,
        to present one with effect from 10th April.
 
 1985 - Production of superphosphate was curtailed due to poor
 off-take
        consequent of drought conditions in the Sothern region and
        stoppage of production for facilitating expansion of
        superphosphate and sulphuric acid plants.
 
      - The poor capacity utilisation coupled with increase in power 
        tariff, interest charges and depreciation affected the
        profitability of Chemical Division.
 
      - The capacity utilisation at Fertiliser Division, Chemicals
        Division, Textile Division was adversely affected due to
 strikes
        for nearly a month in 2 mills in Coimbatore and for about 45
 days
        in the Adoni unit.
 
      - Authorised capital increased and re-classified.
 
 1986 - The Company switched over to Double Contact Absorption System
 in
        sulphuric acid plant by installing new broad field den and
        venturi scrubber.
 
 1987 - Production of coffee crop at 761 tonnes was lower due to
 drought
        coupled with erratic blossom showers.  9,004 tonnes of coffee
 was
        cured and the curing work had been tuned to handle 14,000
 tonnes
        per annum.
 
      - The production in the Chemicals Division was affected due to
        continued power cut and recession in the user industries like
        paper, textiles, etc.  Approvals from shareholders were
 received
        on 2nd September, for the sale of thr chemicals division to
        Southern India Petrochemical Industries Corporation (SPIC).
 
 1988 - The non-depreciable lands at the plantation estates were
 revalued
        as on 30th June, and the resultant value was credited to the
        fixed assets revaluation reserve.
 
      - Kothari (Chennai) International Ltd., is a subsidiary of the
        Company with a holding of the entire 5,003 No. of equity
 shares
        issued.
 
      - Securities Operations & Investment Co. Ltd., is also a wholly
        owned subsidiary of the Company.
 
 1989 - In October, there was a fire accident in the tea factory in
        Waterfall Estate (East) resulting in damages to the entire
        building and machinery.  Subsequently, new factory building
 was
        constructed and latest machinery was installed.
 
      - The fertiliser factory of the Company is at Ennore, near
 Chennai
        City.  The Fertiliser Division also makes fertiliser mixture
 for 
        various crops.
 
      - The Company undertake a modernisation of programme along with
        installation of additional balancing equipments that would
 enable
        the division to produce 80,000 tonnes of super phosphate and
        40,000 tonnes of sulphuric acid.
 
      - Steps were taken to install additional generators at the
 mills.
 
 1990 - Production at the two textile mills at Coimbatore was
 marginally
        affected due to the industrywide strike for about 19 days in
        September/October.
 
      - However, productivity per spindle at all the 3 mills
 increased
        significantly due to the modernisation programme undertaken
 and
        due to the issue of good quality cotton.
 
      - The Company undertook a project for the manufacture of
 granite
        monuments and markers with a capacity of 10,000 sq. mtrs. per
        annum.
 
      - A new company under the name Tata Kothari Steels Ltd., was 
        jointly promoted by the company and by the House of Tatas for
        setting up a plant in South India for production of pig iron
 with
        a capacity of 1,20,000 TPA.
 
      - During February, Kothari Information Systems, Ltd., became a
        subsidiary of the Company.  All the 14,150 No. of equity
 shares
        of Rs. 10 each were held by the holding company as at 31st
 March,
        1993.
 
      - 15% secured non-convertible redeemable debentures aggregating
 Rs.
        270 lakhs were also privately placed with UTI and debentures
        aggregating Rs. 180 lakhs were allotted to LIC.  The 15%
        debentures are redeemable at a premium of 5% in five equal
 annual
        instalments commencing from 11th August, and ending on 11th
        August, 1994, the premium to be paid along with the
 instalment
        falling due on 11th August, 1992.
 
 1991 - There was a strike for 42 days in Coimbatore belt in
        October-November and consequently production in the Company's
 2
        mills at Coimbatore was affected.
 
      - Performance of the Textile Division was affected due to
 increase
        in raw material and other input costs and labour problems in
        Coimbatore belt.
 
 1992 - During October, the Company issued, 4,50,000-16% secured
        redeemable partly convertible debentures of Rs. 400 each on
        rights basis in the proportion of 1 debenture: 17 No. of
 equity
        shares held.  Only 4,49,428 debentures taken up.
 
      - Another 22,500-16% partly convertible debentures of Rs. 400
 each
        were offered to the employees.  Only 7,392 debentures taken
 up.
 
      - Part `A' of Rs. 250 of each debenture was converted into 10
        equity shares of Rs. 10 each at a premium of Rs. 15 per share
 of
        the expiry of six months from the date of allotment.  
        Accordingly, 45,68,200 No. of equity shares were allotted on
 25th
        August, 1993.
 
      - Part `B' of Rs. 150 of each debenture was to be redeemed at
 par   
        in three equal annual instalments of Rs. 50 each at the end
 of
        the sixth, seventh and eight year from the date of allotment
 of 
        debentures.
 
 1993 - It was proposed to modernise the mills in two phases
 spreading
        over a period of 2 to 3 years.
 
      - As a part of continuation of modernisation programme, the
 Company
        replaced certain ring frames with latest long ring frames and
        three autoconers and three auto leveller were imported.
 
      - During August, the Company allotted 3,60,000 No. of equity
 shares
        of Rs. 10 each at a premium of Rs. 15 per share to
 non-resident
        Indians on repatriation basis.
 
      - In consideration of the transfer of the undertakings and the
        assets and liabilities of the amalgamating companies to the
 new
        company, the new company allotted to the shareholders of the
        amalgamating companies preference shares of Rs. 10 each and
        equity shares of Rs. 10 each in the capital of the new
 company
        credited as fully paid-up.  The details are given a table.
 
      - All redeemable preference shares of Waterfall Estates Ltd.,
 were
        redeemable by payment in cash of the amount paid-up on the
 shares
        together with an arrears of preference dividend upto the date
 of 
        the scheme together with a premium of 50 paise per share of
 Rs.
        10.  All the preference shares of Balmadies Plantations Ltd.,
 and
        Adoni Spg. & Wvg. Co. Ltd., (both A and B Pref.) were redeemed
 by
        payment in cash of the amount paid-up on the shares together
 with
        all arrears of preference dividend upto the date of the
 scheme.
 
      - The 8% First Mortgage debentures issued by Adoni Spg. & Wvg.
 Co.
        Ltd., to LIC were treated as if they were issued by the new
        company.
 
      - 45,68,200 No. of equity shares allotted (prem. Rs. 15 per
 share)
        on part conversion of 16% Debs.  Another 3,60,000 No. of
 equity
        shares of Rs. 10 each at a prem. of Rs. 15 per share allotted
 to
        NRIs.
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `686 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `1577 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `76 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `408 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स ऑप्शंस में `1080 Cr की बिकवाली की
  • MARKET CUES : स्टॉक फ्यूचर्स में `746 Cr की खरीदारी की
  • CITI ON BAJAJ AUTO : SELL रेटिंग, लक्ष्य `2100/Sh
  • JEFFERIES ON BAJAJ AUTO : Underperform रेटिंग, लक्ष्य `2650/Sh
  • GOLDMAN SACHS ON BAJAJ AUTO : Neutral रेटिंग, लक्ष्य `2895/Sh
  • SBI : SBI जनरल इंश्योरेंस में 26% हिस्सा बेचेगा JV पार्टनर IAG

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