Company History - Standard Industries
1892 - The Company was incorporated at Mumbai. The main object of
Company is to manufacture textile goods and chemicals.
products manufactured are grey long cloths, dhoties,
coatings, printed long cloths, drills, crepes, voiles,
Company uses the trade name COCKATTO and SAPERA.
ranging from 11s to 95s are spun and the cloth width
28 to 60.
- The mills are equipped to perform bleaching, dyeing,
printing, mercerising, sanforising and yarn dyeing
1933 - Capital reduced by Mumbai High Court Order dated 8th December
paying back Rs.400 per whole and Rs.100 per quarter
1940 - 14,217 whole and 10,332 quarter shares issued as bonus (prop.
quarter shares consolidated.
1942 - 4,800 Bonus shares issued in prop. 1:4.
1943 - 6,000 Bonus IInd pref. issued is prop. 1:4.
1948 - 24,000 Bonus Equity shares issued in the prop. 1:1.
1950 - 8,000 No. of Equity shares issued in prop. 2:3 to members of
Indian Bleaching Dyeing and Printing Works, Ltd., on its
1955 - 31,800 No. of Equity shares issued in prop. 1:1 to
of New China Mills, Ltd., on its merger.
1958 - 21,950 Bonus Equity shares issued in the prop. 1:4.
1960 - 43,900 Bonus Equity shares issued in the prop. 2:5. The
shares are redeemable on 6 month's notice.
1966 - 21,950 Bonus Equity shares issued in the prop. 1:7.
1972 - On 1st January, 24,380 No. of Equity share issued (prem.
per share) on conversion of 7.5% Bonds. 1,99,980 Bonus
shares issued in prop. 1:1 on March.
1975 - 1,00,000 Bonus Equity shares issued in prop 1:4.
1976 - 39,020 No. of Equity shares issued at a premium of Rs.200 per
share on conversion of 8% Bonds.
1977 - Mafatlal Industries Ltd., ceased to be the Holding Company of
Company with effect from 1st January.
1978 - 1,07,804 Bonus Equity shares issued in prop. 1:5.
1980 - Implementation of the industrial licence for 34,760
spindles at Dewas unit was taken up during the year, and
spindles were installed till the end of the year.
1981 - Govt.'s approval was received for modernisation and
programme of the Textile Division which includes import
Sulzer looms for Prabhadevi unit.
- The Company received letters of intent for the manufacture
3,300 tonnes per annum of methyl chloroform 1.1.1
trichloroethane, 200 tonnes per annum of dichloro diethyl
and 10,000 tonnes per annum of stable bleaching powder.
- The Company issued 2,00,000-13.5% secured convertible
Rs.500 each on rights basis in the ratio of 2 bonds for
No. of equity shares. 40% of the face value (i.e.
be converted into 1 equity share of Rs.100 each issued at
premium of Rs.100 on 30th June, 1984. The balance amount
Rs.300 per Bond will be repaid in 5 equal annual
Rs.60 each from the end of 8th year from the date of
Bonds viz., 1st October, 1982.
- Authorised capital reclassified 2,58,729 bonus equity
issued in prop. 2:5.
1982 - The Company's operations were adversely affected during the
half of the period due to the textile strike in Mumbai
the second half due to escalation in cost of production
recession in demand.
- Despite the Textile Strike, the company continued to
its plant and machinery. 60 more Sulzer looms were
together with the ancilliary machinery.
- With a view to overcoming the power shortage, two diesel
generating sets of 1200 KVA capacities were installed at
- To cope up with the rising costs of power, new and latest
for controlling voltage and thereby power consumption
installed in De Mora cells.
1984 - De Mora cells resulted in a saving of about 400 units of
per tonne of caustic soda.
- The Government of India approved the Company's proposal
to set up
a joint venture name `P.T. Standard Mills Industries'.
`Indonesia' in collaboration with SLM-Maneklal
for the manufacture of cots and aprons for the textile
and other rubber products in Indonesia.
- Land, buildings and plant and machinery of the Company
revalued as on 31st December, and the net surplus arising
this was credited to capital reserves.
- Standard Salt Works Ltd., is a subsidiary of the
- 2,00,000 shares allotted (prem. Rs.106 per share) on
30th June in
part conversion of bonds.
1985 - Production and sales of caustic soda was adversely affected
to stiff competition. The offtake of chlorine was also
affected due to reduction in offtake of this product by
- The Company issued 30,000-15% secured non-convertible
Rs.1,000 each. These bonds are redeemable at a premium
of 5% on
the expiry of 7th, 8th and 9th year from the date of
viz., 23rd September, in three equal instalments of
with the inclusion of premium amount in the first
1986 - Sales and production of chlorosol declined due to the
availability of imported trichlorethylene at lower
prices in the
1987 - As a measure of rationalisation, 160 unremunerative ordinary
looms were scrapped in one of the Ruti-C looms of wider
for export production.
- The Company's R & D department manufactured and supplied
vinyldene chloride to BASF India Ltd.
- A letter of intent was received for the manufacture of
million disposable syringes and 300 million hypodermic
1988 - The Company installed 83 new Ruti-C looms of wider width for
- An application was submitted to manufacture alkali
within the licensed capacity of caustic soda/caustic
1989 - The Company decided to conduct the business of the textile
division of the Shanudeep, Ltd. (Formerly, Surat Cottron
Wvg. Mills Ltd.), comprising of 48 Sulzer looms, 126
looms and 72 wider width Ruti-B type looms, from 1st
- The Shanudeep, Ltd. has a modern spinning plant with
spindles with the latest preparatory machines for
agreement was for a period of 3 years ending 31st March
Subsequently, the agreement was extended for another
from 1st April 1992.
- The Company proposed to go ahead with the conversion of
mercury cells into membrane cells in about two years
Udhe mercury cell plant was replaced by a new membrane
- The name of the company was changed from The Standard
Ltd. to `Standard Industries Ltd.' during the year.
1991 - Upward trend in the prices of cotton and raw materials
with overall increase in power and labour charges
affected the profitability of Textile division.
- It was proposed to install 72 air jet looms for export.
also proposed to install open end spinning, machines,
processing equipments and modernise the existing
- 44,22,212 bonus equity shares issued in prop. 2:5.
1992 - Two autoconers one at Sewree and the other at Dewsas unit was
- Mafatlal Apprael Manufacturing Co. Ltd., a 100%
subsidiary of the
Company was amalgamated with the Company with effect from
- The Company offered during September, 32,50,325-17.5%
redeemable partly convertible debentures of Rs.100 each
aggregating Rs.32.50 crores. Out of the total issue,
debentures were offered and allotted to the equity
in the ratio of 1 debentures for every 5 equity shares
the balance 1,54,777 debentures were offered and
allotted to the
employees (including working directors)/workers of the
- A portion of Rs.50 of each debenture (part-A) was to be
automatically and compulsorily converted into one fully
equity share of Rs.10 at a premium of Rs.40 per share at
of 6 months from the date of allotment of the debentures.
non-convertible portion of Rs.50 (part-B) of each
would be redeemed at par in 4 equal instalments of
at the expiry of the 5th, 6th, 7th and 8th years from the
allotment of the debentures.
- In order to meet long term working capital requirements,
company issued during March, 90,000-9% secured
debentures of Rs.1000 each aggregating Rs.9 crores on
placement basis to UTI, LIC and GIC and its subsidiaries.
debentures are redeemable in 3 equal yearly instalments
end of the 6th, 7th, and 8th years from the date of
1993 - Four Vouk draw frames, latest version in spinning technology
commissioned at Prabhadevi and one autoconer each was
at Sewree and Prabhadevi unit.
- All efforts were made to reduce the power consumption
in the Electrolysis in both Be Nora and Uhude cell
- 32,50,325 shares allotted (prem. Rs.40 per share) in
conversion of 17.5% debentures.
1994 - During the year, inorder to modernise and upgrade the quality
product-mix, the company commissioned 4 Auto-Coners
1 Two-For-One Twister and 4 Ring frames in the Mumbai
- 93,64,034 bonus equity shares issued in prop. 1:2.
No. of equity shares of Rs. 10 each were issued at a
prem. of Rs.
50 per share on Rights basis in prop. 2:5.
1996 - The performance of the Chemicals division was affected due to
commissioning of a number of large sized caustic soda
1997 - The composite Textile Industry has been facing strains of
- As empowered by the Shareholders at the last Annual
the Company has sold its Dewas Unit, as a going concern
for a total consideration
of Rs. 17,43,75,000/- to S. Kumars Synfabs Limited.
- Prabhadevi and Sewree Units of the Textile Division have
obtained Certification from
SGS Yarsley International Certification Services Ltd.
for quality management system
meeting the requirements of ISO 9002.
- Due to prolonged strike by transporters in April, 1997,
production had to be stopped
for a week's time.
- During the year under review, the Captive Power Plant
which was commissioned in
September, 1996, has since been running satisfactorily
giving the rated capacity and
performance after initial teething troubles.
- The Company has helped the Polio eradication drive of
the Government by
providing about 300 Lunch packets to the campaign
organised by Navi Mumbai
1999 - During the year the Company's Textile Unit at Surat was sold
as a going
concern to Patdi Commercial & Investments Limited.
- The Company has executed an Agreement with National
Limited for the dematerialisation of its Equity Shares
in accordance with the provisions
of the Depository Act of 1996.
2000 - The Board has decided to issue, offer and allot by way of
to off-shore investors, including NRIs and OCBs, up to
2,50,00,000 No. of equity
shares of Rs 10 each at par of the company.
- The Company has entered into an agreement with Rashtriya
Mill Mazdoor Sangh,
the statutorily recognised representative union, and
has declared the Voluntary
retirement Scheme for the workers of both Prabhadevi
Textile Unit and Sewree
Textile Unit at Mumbai, who are covered by the Bombay
Industrial Relation Act, 1946.
- The Company has installed new machines in the Process
House and is striving to
improve the per metre realisation of fabric.
-Registered Office of the Company has been shifted To Plot No.4, TTC
Industrial Area, Thane Belapur Road, PO Ghansoli, Navi Mumbai, Thane
- 400 701.
-Company has recommended a dividend of Re. 0.75 per equity share of
Rs. 5/- each.
-Company have been appointed K J Pardiwalla as an Additional
Director, D H Parekh as an Additional Director as well as Whole Time
Director of the Company.
-Standard Industries has recommended a Dividend of Re. 0.75 on
6,43,28,941 Equity Shares of Rs. 5/- each of the Company.
-Company has recommended a Dividend of Re. 0.75 on 6,43,28,941 Equity
Shares of Rs. 5/- each of the Company.
-Company has recommended a Dividend of Re. 0.75 on 6,43,28,941 Equity
Shares of Rs. 5/- each of the Company.