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Lakshmi Mills Company Ltd.

BSE: 502958 | NSE: LAKSHMIMIL | Series: NA | ISIN: INE938C01019 | SECTOR: Textiles - Composite Mills

BSE Live

Aug 04, 16:00
3491.40 18.25 (0.53%)
Volume
AVERAGE VOLUME
5-Day
377
10-Day
242
30-Day
361
549
  • Prev. Close

    3473.15

  • Open Price

    3540.00

  • Bid Price (Qty.)

    3491.40 (14)

  • Offer Price (Qty.)

    3490.00 (2)

NSE Live

Jan 29, 15:40
2356.45 0.00 (0.00%)
Volume
No Data Available
127
  • Prev. Close

    2356.45

  • Open Price

    2365.00

  • Bid Price (Qty.)

    2356.45 (1)

  • Offer Price (Qty.)

    0.00 (0)

Lakshmi Mills Company is not traded on NSE in the last 30 days
Company History - Lakshmi Mills Company
YEAR                       EVENTS
 1910 - The company was incorporated at Coimbatore.  The main
 objective
        of the company is to manufacture cotton yarn, staple fibre
 yarn
        and cloth under the trade have `Lakshmi Mills'.  It spins
 counts
        ranging from 20s to 100s and the cloth width ranges from 50
 to
        53.
 
 1947 - 24,000 bonus shares (Rs. 50 paid up) issued in prop. 1:1. 
 The
        23,282 partly paid shares made fully paid by capitalisation
 of
        reserves @ Rs. 25 per share.
 
 1948 - 71,282 `A' bonus shares issued in prop. 1:1.
 
 1957 - 71,282 shares of Rs. 50 each and 71,282; `A' shares of Rs. 25
        each issued at rights at par in prop. 1:1.  Only 70,718 shares
 of
        Rs. 50 each and 70,718 `A' shares of Rs. 25 each taken up.
 
 1966 - 2,13,000 `A' equity bonus shares issued in prop. 1:1 equity
 and
        1:2 `A' equity.
 
 1977 - Coimbatore Cotton Mills Ltd., was amalgamated with the
 company
        effective from the close of business on 30th November.
 
 1979 - 36,000 No. of equity shares of Rs. 50 each and 36,000 `A'
 equity
        shares of Rs. 25 each allotted without payment in cash to the
        members of Coimbatore Cotton Mills Ltd. in the prop. of 1
 equity
        and 1 equity `A' share for every equity shares of Rs. 100
 each
        held by them on its merger.
 
 1981 - Authorised capital reclassified.  Bonus equity shares issued
 in
        prop. 1:1 are as follows:
 
      - (i) 7,18,000 No. of equity shares of Rs. 50 each and
 
      - (ii) 3,91,000 No. of equity shares of Rs. 50 each
 (surrendering
        the original 3,91,000 `A' equity shares of Rs. 25 each).
 
 1983 - The company issued non-convertible debentures for Rs. 3.75
        crores.
 
 1984 - 7,47,000 No. of equity shares of Rs. 50 each consolidated
 into
        3,73,500 shares of Rs. 100 each.
 
 1986 - IDBI sanctioned a loan of Rs. 2.60 crores under the textile
        modernisation fund.
 
      - United Bleachers Ltd., Mettupalayam became a subsidiary of
 the
        company with effect from 31st March.
 
 1989 - The Company had taken up a substantial modernisation
 programme.
        72 old NMM looms were replaced with new high production
        Lakshmi-Ruti looms to cater to needs of the export market. 
 In
        addition, the spinning preparatory machine was modernised. 
 One
        860 KVA generator was replaced by 1160 KVA generator at
        Kovilpatti unit.
 
      - The favourable monsoon all over the country and a record
 cotton
        crop resulted in stable raw material, along with a good
 market
        for staple fibre yarn and cloth in both domestic and export
        markets, contributing higher profits.
 
 1990 - Due to a strike by the workers the profitability declined.
 
      - 8 nos. autoconers and high volume cotton testing instruments
 were
        imported to cater to the needs of export market.  In
 addition,
        the spinning plant was modernised.
 
 1991 - Profitability was adversely affected due to the steep rise in
        cotton prices, changes in Government policies pertaining to
        import and export of cotton yarn etc.
 
      - The Company offered 78,435-15% partly convertible debentures
 of
        Rs. 800 each as follows:
 
      - (i) 74,700 debentures offered to shareholders on rights basis
 in
        the proportion 1 debenture: 5 shares held and
 
      - (ii) 3,735 debentures to the employees (including working
        directors)/workers of the Company on an equitable basis with
 a
        provision to offer the unsubscribed portion, if any, to
 Mutual
        Funds/institutions at the discretion of the directors,
 subject
        to the approval of CCI.
 
      - Part-A of Rs. 470 of each debenture was to be converted into
 one
        equity share of Rs. 100 each at a premium of Rs. 370 after
 the
        expiry of 6 months from the date of allotment of debentures.
 
      - Part-B of Rs. 330 of each debenture was redeemable at par in
        three equal annual instalments at the expiry of 6th, 7th and
 8th
        year from the date of allotment of debentures.
 
 1992 - The profitability, however, was adversely affected mainly due
 to
        continued recession which led to poor offtake and
 unremunerative
        prices, political disturbances and a strike by workmen for 58
        days in the three units of the Company.  The prolonged strike
        came to an end and normal working resumed in all the three
 units
        on 14th May, 1993.
 
      - 90,200 No. of equity shares allotted (prem. Rs. 370 per share)
 in
        conversion of debentures on 27.10.1992.
 
 1994 - 2,31,850 shares allotted as bonus shares.
 
 1995 - However, profitability was seriously affected on account of
 the
        above factors coupled with additional interest burden due to
 the
        implementation of modernisation scheme.
 
      - New Trutzschler Blow Room Machine along with 20 second hand
        Trutzschler high production cards and second hand
 Autoleveller
        draw frames were imported.
 
 1996 - The company entered into an agreement with M/s. Das Lagerway 
        Wind Turbines Ltd. for use of power generated in 40 Wind
 Turbines
        to be installed by them.
 
 2005
 
 -The Company has recommended a dividend of 10% for the year.
 
 2006
 
 -The Company forayed into the readymade garments segment with the
 launch of its own western casual wear brand, `Tyche Life'. 
 
 -The Company has recommended a dividend of 15% for the year.
 
 2007
 
 -The Company designated e-mail ID for the grievance redressel
 division / compliance officer exclusively for the purpose of
 registering complaints by investors and displayed on website of the
 Company.
 
 2008
 
 -The Company has recommended a dividend of 5%.
 
 2009
 
 -The Company has recommended a dividend of Rs 5.00 per equity share
 of Rs 100/- each. 
 
 2010
 
 -The Company has recommended a dividend of Rs. 9.00 per equity share
 of Rs. 100/- each.
 
 2011
 
 -The Company have recommended a dividend of Rs. 9/- per equity share
 of Rs. 100/- each. 
 
 2013
 
 -The Company have recommended a dividend of Rs. 12/- Per equity share
 of Rs. 100/- each.
 
 2014
 
 -The Company have recommended a dividend of Rs.15/- Per equity share
 of Rs. 100/- each.