Company History - Cheviot Company
YEAR EVENTS
1897 - The Company was incorporated on December 27, at Calcutta.
The
Company Manufacture jute goods and HDPE goods.
- With a view to diversify, the Company decided to implement a
project for the manufacture of high density
polyethylene/polypropylene woven sacks by setting up a plant
with an installed capacity of 1,440 tonnes per annum at
NOIDA,
Industrial Area Phase II in Uttar Pradesh.
1948 - 14,000 Bonus Equity shares issued in the prop. 1:1.
1960 - 9,063 Pref. and 28,000 No. of Equity shares issued without
payment in cash to the members of Belevedere Jute Mills Co.
on
its merger.
1961 - Belvedere Jute Mills Co. Ltd., was amalgamated with the
Company
with effect from 30th November.
1966 - Equity shares subdivided. 19,000-9.1% Pref. and 10,87,554 No.
of
equity shares issued to members of Budge-Budge Jute Mills
Co.,
Ltd., and Cheviot Mills Co., Ltd., upon their merger.
1967 - The amalgamation of the Budge Budge Jute Mills Co. Ltd., and
Cheviot Mills Co. Ltd., with Delta Jute Mills Co., became
effective from 31st May.
1968 - Consequently the name of the Company was changed from Delta
Jute
Mills Co. Ltd., to Budge Budge Amalgamated Mills Ltd.,
effective
from 11th January.
1975 - The name of the Company was changed from Budge Budge
Amalgamated
Mills Ltd., to Cheviot Co. Ltd.
1985 - 6th Instalment of Rs 4.30 per Pref. share redeemed. Equity
shares of Rs 3 each subdivided into shares of Rs 1 each.
49,42,662 rights equity shares of Rs 1 each then issued at par
in
prop. 1:1. 2,59,676 additional equity shares allotted.
Equity
shares the consolidated.
1990 - Indian Citrates Ltd., (Formerly Caustic (India) Ltd.) is a
subsidiary of the Company. During 1991-92, it ceased to be a
subsidiary of the Company.
1995 - The overall working was affected due to lockout at plastic
division which lasted for more than 8 months.
- In January, the Company issued 20,00,000 ordinary shares of Rs
10
each for cash at a premium of Rs 60 per share including an
additional prem. of Rs 15 per share on 2,88,000 ordinary
shares
to be reserved for NRI/OCBs/FIIs, of which 7,50,000 shares of
Rs
10 each were reserved for firm allotment to promoters,
directors,
relatives and friends.
- Simultaneously, 12,50,000 shares were reserved for viz.,
1,50,000
shares to UTI, 50,000 shares to ICICI, 50,000 shares to
SCICI,
50,000 shares to SBI Mutual Fund, 50,000 shares to Kothari
Pioneer Prima Fund, 60,000 shares to employees and 2,88,000
shares of Rs 10 each for cash at a premium of Rs 75 per share
were reserved for NRI/OCBs on firm allotment basis.
- Of the remaining 5,52,000 shares along with the unsubscribed
portion of employees quota were offered to public.
1996 - The first phase of new 100% Export Oriented Unit at Budge
Budge
for the manufacture of high grade industrial fabrics was set
up.
- The overall working was affected due to lockout at Plastic
Division which lasted for more than 8 months.
- Elite (India) Ltd. would become subsidiary of the Company
consequent upon allotment of shares as envisaged in the
Scheme.
1997 - Cheviot began modernising and diversifying into
non-traditional
items such as jute yarn, industrial and decorative fabrics in
1990 by setting up a 100 per cent export oriented unit. In
1996, it started modernising the EOU.
- Cheviot recently increased its production capacity of
industrial
fabrics from six tonnes a day to 12 tonnes a day. It is also
planning to install a few more balancing machines.
1999 - The company's operations were affected by an 81-day lockout
at
its mill and subsequent illegal cessation of work by a section
of
workers at its 100 per cent export oriented unit.
- During the year under review, production was hit due to a
strike from June 7 to August 26, 1998, at the company's Budge
Budge facility. Output declined to 25,496 tonne as compared
with 34,887 tonne in the previous year.
- Cheviot Company Ltd. is planning diversifications into
non-jute
products in a bid to overcome losses accrued through its jute
businesses. The company will also be looking at more
non-traditional jute products as part of its future
diversified
product mix.
2000 - Due to indefinite strike called by the workers in the jute
industry from March 22, operations at the company's mill at
Parganas (South), West Bengal, stand suspended till
withdrawal
of the strike. The Strike was withdrawn at the company's
mill
with effect from April 23rd.
2004
-Cheviot Company Ltd has informed that the strike called by the
workers in the Jute Industry from December 29, 2003 has been called
off and work at mills situated at 19 Mehta Road, Budge-Budge, 24
Parganas (South), W.B. shall commence from January 10, 2004.
2006
-Cheviot Company has given the Bonus in the Ratio of 1:2
2007
-Cheviot Company has declared the interim dividend on 45,11,250
Ordinary Shares of Rs 10/- each @ 80% i.e. Rs 8/- per share
2008
-Cheviot Company has recommended a dividend @ 100% i.e. Rs 10/- Per
Share
2010
-Cheviot Company have recommended a dividend of Rs. 8/- Per Share
2011
-Cheviot Company have recommended a dividend of Rs. 12/- Per Share
2012
-Cheviot Company have recommended a dividend of Rs. 13/- Per Share
2013
- Cheviot Company Ltd has recommended payment of dividend on
45,11,250 Ordinary Shares of Rs. 10/- each @ Rs. 15/- (Rupees Fifteen
only) per Ordinary share amounting to Rs. 6,76,68,750/- (Rupees Six
Crores Seventy Six Lakhs Sixty Eight Thousand Seven Hundred Fifty
only)
2014
- Cheviot Company Ltd has recommended a dividend of Rs. 15/- Per
Share on 45,11,250 Ordinary Shares of the face value of Rs. 10 each
amounting to Rs. 676.69 Lakhs
2018
-The Company has issued Bonus Shares in the Ratio of 1:2.
