Company History - Madura Coats
1889 - Madura Mills Co. Ltd., was incorporated at Madurai,
and Tuticorin, in Tamil Nadu and the tyre cord factory as
at Serampore in West Bengal, and was engaged in the production
cotton and blended yarns, and industrial fabrics such as tyre
cord, canvas and hard duck.
1942 - J & P Coats (India) Pvt. Ltd., was incorporated as a private
company in 1942 under the name of `Jamna Thread Mills Ltd.'
manufacture sewing threads.
1945 - A & F Harvey Ltd., which was founded in 1883, was incorporated
a private limited company in 1945 to manage textile and other
companies in South India. It acted as the Management Agents
Madura Mills Co., Ltd., until December 1969.
- With the statutory termination of managing agencies, the
became primarily an investment company. It also had some
shipping and insurance agencies and small baling press at
1953 - A factory complex was inaugurated at Koratti in Kerala for
scale manufacture of quality threads with a view of import
substitution. Over the years, it built up a considerable
business in sewing threads to complement its domestic trade.
1974 - The Company was incorporated on 31st July, to take over the
entire undertakings of Madura Mills Co., Ltd. A & F Harvey
and J & P Coats (India) Pvt. Ltd., as from 1st July, in terms
the Scheme of Amalgamation approved by the High Courts of
and Chennai on 6th December.
1977 - Towards the end, 23,06,286 No. of equity shares of Rs. 10
were offered for sale at Rs. 8 per share by non-residents to
existing Indian shareholders and employees of the Company to
reduce the foreign shareholding to 40%.
- The Company allotted 74,08,881 No. of equity shares of Rs. 10
each for cash at a premium of Rs. 55 per share to J & P
Ltd., Glassgow, U.K. to increase their equity holding in the
Company from 39.90% to 51%.
- Simultaneously, 40,92,505 No. of equity shares of Rs. 10 each
cash at a premium of Rs. 20 per share to one or more member
companies of Coats Viyella Group.
1981 - In addition, the 7% debenture stockholders of Madura Mills
Ltd., were allotted number of debenture stocks in the new
on the same terms and conditions.
1982 - The Pandyan Press Ltd., is a subsidiary of the Company.
Investments, Ltd., and Kor Investments Ltd., became
of the Company.
- 29,07,886 Bonus Equity shares issued in prop. 1:4 and alloted
8th March 1983.
1985 - Land, buildings and residential flats of the Company were
revalued as on 30th June and the net surplus arising out of
revaluation was transferred to Revaluation Reserve.
- 72,69,715 Bonus Equity shares in prop. 1:2.
1988 - During the period, the Company commenced marketing of ready
garments and `Elysee' both owned by British Van Heusen Co.,
a subsidiary of Coats Viylla p.l.c. U.K.
- The Company commenced work on installation of an additional
capacity of 650 TPA of non-wovens covered by the existing
- The Company's non-woven plant at Madurai with a capacity of
TPA was implemented on 23rd February, with technical
collaboration from Bonded Fibre Fabric, U.K.
- The Company issued 5,00,000 - 14% non-convertible debentures
Rs. 100 each on private placement basis to financial
institutions. These debentures are redeemable at a premium
Rs. 5 per debenture during 1994/1998.
1989 - During the year, the Company launched `Van Heusen' range of
shirts and trousers in the domestic market.
1990 - In the domestic market, high quality poly/cotton oxford
and cotton polyester cross dyed jeans material were
1991 - In industrial textiles, new products such as acrylic based
fabric and synthetic fabric for the cement industry were
- The Pandyan Press, Ltd. closed down its operations with
from 26th November. The Company's name was changed to Madura
Agro Industries Ltd.
- The Tuticorin Co., Ltd., The Papairnasam Mills Co., Ltd.,
Mills Co., Ltd., and The Tinnevelly Mills Co., Ltd., all in
Members' Voluntary Liquidation, are also subsidiaries of the
- The Company issued 17.5% non-convertible debentures of Rs.
each on private placement basis of financial institutions.
debentures are redeemable at a premium of Rs. 5 per debenture
- The Company issued 2,00,000-17% non-convertible secured
debentures of Rs. 100 each redeemable at par on 30th
1994 on private placement basis.
- The fixed assets of the Company were revalued as on 31st
and the net surplus arising out of it was credited to the
- 1,09,04,573 Bonus Equity shares issued in prop. 1:2.
1992 - New products such as blazers and jackets were added to
- Profit margins came under pressure due to unabsorbed fixed
by virtue of long strikes and distrubed conditions in the
affecting adversely the supplies and sales.
- Additional capacities were created for thread, export of
and for the domestic synthetic duck business. New machines
installed for overall upgradation in the quality of yarn and
- In January, the clearance was obtained for establishing an
oriented unit at Tamilnadu.
- Weaving production commenced and 4 lakh metres of fabrics was
exported. Spinning capacity became fully operational by
1993 - Pursuant to the Scheme, the shareholders of the amalgamating
companies were allotted shares of the new company was
- Madura Mills Co., Ltd. For every 5 equity shares of Rs. 15
held, 8 No. of equity shares of Rs. 10 each.
- A & F Harvey Ltd. for every equity shares of Rs. 10 each
four equity shares of Rs. 10 each, for every preference shares
Rs. 100 held, one preference share of Rs. 100 each.
- J & P Coats (India) Pvt. Ltd. for every 2 equity shares of Rs.
each, 41 No. of equity shares of Rs. 10 each.
- With effect from 14th June, the name of the Company was
from Madura Coats Ltd. to `Coats Viyella India Ltd.'.
1994 - The Company's newest division `Introd' commenced its
1996 - The fabrics division launched Easycare variety of cotton
shirting and bottomwear. Also, flame retardant Proban finish
was imparted to widewidth fabrics, a new project development.
- 2,594 No. of equity shares issued to NRI on RBI approval.
1997 - Steady recovery in the Coats threat business was reported.
company launched Peter England in the mid priced mens' shirt
- 240,73,560 Rights shares issued. (Prem. Rs. 55; Prop. 1:2)
shares kept in abeyance.
1998 - Pursuant to the demerger of Coats Viyella Plc. the name of
Company was changed back to `Madura Coats Ltd.'
2000 - The Management has declared a lock-out of the Tuticorin Mill
effective from first shift of October 9.
-Madura Coats appoints Additional Director Mr Anil Dias as an
Additional Director of the company with immediate effect.
-Board approves for the principle of amalgamation of 3 wholly owned
subsidiaries namely Kor investments Ltd, Vaigai Investments Ltd &
Madura Agro Industries Ltd.
-Board approves for the buy-back of 14714000 equity shares at a price
not exeeding Rs.27 per equity share.
-Gets clearance from stock exchange for the delisting of the equity
shares from ASE,BGSE, CSE and DSE.
-J & P coats along with Coats Plc makes open offer to acquire 36.8%
stake in Madura Coats.
-Introduces 3 new collection of garments Purista, Dazzlers and Satin
-Introduces 'Clean Jeans' denims under the Allen Solly Brand.
-J & P coats hikes its stake in the Indian Subsidiary Madura Garments
from 63.2% to 93% through an open offer estimated estimated at
-Sets up new brand of jeans, SF anticipating 12cr turnover.
-Madura forays into men's innerwear market