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मोरारजी टेक्सटाइल्स > कंपनी इतिहास > Textiles - Spinning - Cotton Blended > कंपनी इतिहास का मोरारजी टेक्सटाइल्स - बीएसई: 532621, NSE: MORARJEE

मोरारजी टेक्सटाइल्स

बीएसई: 532621  |  NSE: MORARJEE  |  ISIN: INE161G01027  |  Textiles - Spinning - Cotton Blended

कंपनी इतिहास - मोरारजी टेक्सटाइल्स
MTL was established in 1995 as an equal joint venture 
 company between Morarjee Realties Ltd. (then known as 
 Morarjee Goculdas Spg. & Wvg. Co. Ltd.) (MRL) and 
 Manifattura DiValle Brembana SPA of Italy (Brembana) 
 for manufacture and sale of high quality cotton shirting 
 fabrics both in domestic and export markets. The Companys 
 manufacturing facilities are located at Bultibori, MIDC, 
 Nagpur, which was earlier an 100% EOU but subsequently 
 converted to Domestic Tariff Area (DTA).
 
 The Company commenced commercial production in January 1998 
 and quickly established its reputation as manufacturers of 
 high quality shirting fabrics. It achieved a turnover of 
 Rs.8.48 crores during 1997-98, which increased over the years. 
 On the basis of its export performance, the Central Government 
 awarded it an export house status.Pursuant to discussions between 
 the joint venture partners, the entire equity stake held by 
 Brembana in the Company (representing 1,64,38,000 equity shares 
 of Rs.10 each fully paidup constituting 50% of the equity 
 capital of the Company) was acquired by MRL in September 2003 
 for a total consideration of US$ 1 million. Out of this, 
 1,61,09,240 shares (49%) were acquired by MRL and the balance 
 3,28,760 equity shares representing 1% of the equity capital of 
 the Company was acquired by the Morarjee Goculdas Spg. & Wvg. Co. 
 Ltd.Senior Employees Option Scheme (MGM ESOP Scheme) towards 
 Stock Options to be granted to the employees at an appropriate 
 time. With this acquisition, the Company became a 99% subsidiary 
 of MRL. In terms of the arrangement, Brembana agreed to continue 
 to make available to the Company its collection set up, technical 
 and marketing inputs even after it ceased to be shareholder of
 the Company. Brembana also agreed to the forfeiture of the Advance 
 against Equity advanced to the Company.
 
 As explained earlier in the Information Memorandum, in 2003, MRL 
 undertook a restructuring exercise, whereby inter alia, it sold 
 and transferred its textile business to the Company w.e.f. 1st 
 October 2003, thereby consolidating the textile business of both 
 the companies, in one company (i.e. Morarjee Brembana Limited), 
 at Bultibori, near Nagpur, a low cost zone. This was done with a 
 view that MRL could concentrate on its core business of Real Estate 
 Development.
 
 2006
 -Morarjee Textiles Ltd Issues Rights in the Ratio of 3:4
 
 2009
 
 - Morarjee Textiles Limited has appointed Ms. Rupa Desai as Company
 Secretary and Compliance Officer in place of Mr. S.C. Kashimpuria
 with effect from November 01, 2009.
 
 -Morarjee Textiles Ltd Issues Rights in the Ratio of 1:1
 
 2013
 
 - Board has recommended a Dividend of Rs. 1.75 /- per share on Equity
 shares of Rs. 7/- each (25%).
 
 2014
 
 - Board has recommended a Dividend of Rs. 2.45/- per share on Equity
 shares of Rs. 7/- each (35%).
 
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `1352 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `985 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `2645 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `417 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `2929 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `66 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शन में `199.26 Cr की खरीदारी
  • MACQUARIE ON CHOLA FIN : Outperform रेटिंग, लक्ष्य `300/Sh
  • MACQUARIE ON SBI LIFE : Underperform रेटिंग, लक्ष्य `645/Sh
  • CLSA ON DB CORP : BUY रेटिंग, लक्ष्य `185/Sh

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