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Phoenix Mills
BSE: 503100|NSE: PHOENIXLTD|ISIN: INE211B01039|SECTOR: Textiles - Spinning - Cotton Blended
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Company History - Phoenix Mills
YEAR                       EVENTS
 1905 - The Company was Incorporated at Mumbai.
 
      - The Company's object is to manufacture cotton textile goods. 
 The
        products manufactured include bed-tickings, drills, coatings,
        leno-shirtings, mercerised and bleached dhoties, bleached and
        mercerised and printed voiles, chintz, handkerchief, surgical
        cotton wool and absorbent lint, bleached and dyed chaddars. 
 The 
        Mills are equipped to do bleaching dyeing, mercerising,
 printing
        and calendering.  The Company also has a copper roller
 engraving
        plant, a foundry and a workshop.
 
 1947 - 16,000 bonus equity shares issued in the prop. 2:1.
 
 1948 - 24,000 Bonus equity shares issued in the prop. 1:1.
 
 1966 - 16,000 Bonus equity shares issued in the prop. 1:3.
 
 1969 - 8,000 Bonus equity shares issued in the prop. 1:8.
 
 1972 - The Company purchased Deepchand Mills, Ujjain.  It started 
        manufacturing grey cloth, part of which was being processed
 in
        the Mumbai unit.  The Ujjain unit was sold to Indore Textile
 Ltd.
        on 10th February, 1977.
 
 1975 - 48,000 Bonus equity shares issued in the prop. 2:3.
 
 1987 - The Company came under the provisions of the Sick Industrial
        Companies (Sp. Provisions) Act, 1985 due to erosion in its 
        networth.  Between 1988-89 to 1992-93, the company continued
 to
        be a potentially sick unit.
 
 1995 - 1,25,000 No. of equity shares allotted at par to the
 promoters.
 
 1996 - The company has alloted 1,25,000 No. of equity shares of Rs.
        100/- each, at par, as a result of which the paid up share
        capital of the company stands enhanced to Rs.2.45 crores.
 
      - During the year Company has made two subsidiary companies
 viz.
        Exotic Finvest Pvt. Ltd., and Bellona Finvest Ltd., A
 statement
        on subsidiary companies as required u/s 212 of the Companies
 Act,
        1956 is annexed to the accounts.
 
      - Installation of high efficiency motors.  Installation of
        capacitors and condensers on electrical distribution system.
 
      - During the year the company installed and commissioned Thermo
        pack and Steam pack boilers.
 
      - The company proposes to have a R & D department.
 
 1998 - The conflict between the workers' unions that forced the
 closure
        of Phoenix Mills for the last three days, has been defused
 with
        the intervention of the Maharashtra Labour Minister.
 
      - Work at the mill was stopped on April 6, after a notice was
        posted at the entrance saying only those workers who had
 signed
        an agreement between the management and Rashtriya Mill
 Mazdoor
        Sangh (RMMS) could enter the premises.
 
 1999 - PHOENIX Mills Ltd has been declared no longer sick by the
 Board
        for Industrial and Financial Reconstruction (BIFR).
 
      - The company has modernised the spinning section and is
 producing
        quality yarn instead of taking up job work which it was doing
        before.
 
      - Phoenix Mills has modernised the processing unit in phases
        during the last five years and diversified the product mix by
        introduction of synthetic and hosiery processing with 100 per
        cent job work for exporters and introduced cost saving
 measures
        such as energy conservation, tightening of material purchase
        management and reduction in direct labour cost.
 
 2000 - The Company has approved preferential issue of equity shares
 to
        the FIIs.
 
 2003
 
 Mr Saghan Srivastava has been appointed as Company Secretary of the
 Company wef November 15, 2003.
 
 2005
 
 -Phoenix Mills has given the Bonus in the Ratio of 4:1
 
 -Company has splits its Face value of Shares from Rs 10 0 to Rs 10
 
 2007
 
 -Phoenix Mills Ltd has appointment of Shri. Atul A Ruia as the Joint
 Managing Director of the Company.
 
 2008
 
 - The Company has splits its face value from Rs10/- to Rs2/-.
 
 2009
 
 - The Phoenix Mills Limited has appointed Ms. Minal Bhate- Dandekar
 as the Company Secretary of the Company with effect from August 17,
 2009.
 
 2010
 
 - Board has recommended Final Dividend at the rate of 60%.
 
 2011
 
 - Board has recommended Dividend at the rate of 90% (Rs. 1.80/- per
 share for every one fully paid share of face value Rs. 2/- each) for
 the financial year ended March 31, 2011.
 
 - Mr  Shishir Shrivastava was appointed as group CEO & Joint Managing
 Director.
 
 2012
 
 - Ms. Shinanji Mamtani has been appointed as Company Secretary of the
 Company with effect from March 19, 2012.
 
 - Board  has recommended a dividend of Rs. 2/- per equity share.
 
 - The Phoenix Mills launches its largest Residential project One
 Bangalore West in Rajajinagar Bangalore; books sales worth Rs. 530
 crores.
 
 - Phoenix Mills Ltd has informed BSE regarding Commencement of
 Operations of Shangrila Hotel.
Source : Dion Global Solutions Limited
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