1973 - The Company was incorporated on 8th October. The Company was
promoted by Vardhman Spinning and General Mills Ltd. The
objective of the Company is manufacturing and spinning of
yarn, polyester yarn, staple yarn, acrylic yarn, acetate yarn
and sewing thread.
1975 - In Dec., 14,99,989 No. of Equity shares and 19,990-11% Pref.
shares issued: 5,99,989 No. of Equity shares reserved and
allotted to Vardhman Spinning & General Mills, Ltd, and
9,00,000 No. of Equity shares and 19,990 Pref. shares offered
to the public. Pref. shares redeemable as follows: 1 share
during 22-10-1985/88, 9 shares during 31-3-1987/90 and 19,990
shares during 2-1-1988/91.
1978 - The Company undertook to set up another textile mill with a
capacity of 25,000 spindles at Malarkotla in Sangrur
another backward area in Punjab.
1980 - 7,50,000 Right Equity shares issued at par in prop. 1:2.
4,10,000 No. of Equity shares allotted to financial
on conversion of loans.
1982 - The installed capacity of textile mill in Malarkotla Unit rose
22,768 spindles by the end of the year. The balance 2,232
spindles were installed.
- 10,64,00 Bonus Equity shares issued in prop. 2:5.
1983 - 7,22,400 No. of equity shares issued to financial
on conversion of loans.
1984 - The Company entered into an agreement with Punjab State
Industrial Development Corporation Ltd. (PSIDC), for setting
up a joint sector project to manufacture printing and writing
paper with a capacity of 100 tonnes per day. A new company
was to be promoted jointly by the Company and PSIDC for
- The Company issued 15% non-convertible debentures for Rs. 250
lakhs as rights to both equity and preference shareholders
augmenting long term working capital requirements.
- 2,00,800 No. of equity shares issued to financial
on conversion of loan (including 80,320 bonus shares).
1985 - The Company formulated a modernisation scheme with a view to
equip the mill with the latest technology.
1986 - The Memorandum of Understanding/Agreement was entered into
between the Company and PSIDC for setting up a project in a
sector for the manufacture of 12,000 tonnes per annum of
- With a view to providing a complete package of sewing thread,
the company entered into a joint venture with M/s. Barbour
Campbell Group Ltd., Ireland, in the name of Barbour Vardhman
Threads Pvt. Ltd. Industrial synthetic thread, the product of
joint venture to be manufactured at Baddi, H.P. finds special
application for shoe industry and leather garments. The
has secured rights to market the products in countries like
Nepal, Bangladesh, Pakistan etc.
- A letter of intent was received for setting up a weaving unit
with a capacity of 300 looms in the State of Madhya Pradesh.
Viability of this unit was being examined.
- Mohta Industries Ltd. (MIL), a sick unit registered with BIFR
under `Sick Industrial Companies (Sp. Provisions) Act, 1985,
submitted a proposal to the Company for its merger. The
Company responded positively in principle, provided a viable
scheme for MIL is framed and approved by financial
1987 - A new sewing thread introduced in the market under the brand
name of `TORA' was well received.
1988 - A letter of intent was obtained for setting up an export
spinning unit with a capacity of 25,000 spindles. The
of modernisation and expansion for steel unit was under
- The Company undertook to set up a unit at Hoshiarpur for the
manufacture of sewing thread.
- By virtue of the Scheme Amalgamation approved by the Board
Industrial and Financial Reconstruction (BIFR) 8,25,006 No.
Equity shares of Rs. 10 each of Punjab Mohta Polytex, Ltd.
by erstwhile Mohta Industries, Ltd. became the property of
- By virtue of order dated 28.11.1988 of BIFR, the entire
liabilities and obligations of every kind as on 1st April, of
Mohta Industries, Ltd. as per the Scheme of Amalgamations
by both the companies, were taken over by the Company. In
Consideration of the above, one fully paid equity share of Rs.
each of the Company was allotted against ten fully paid
shares of Rs. 10 each of Mohta Industries, Ltd.
- On 20.10.88, 1 - 11% Pref. share was redeemed. 1,35,916
1990 - The Company undertook to set up another unit with a capacity
MT per day at Baddi (H.P.).
- All Pref. shares redeemed in 1989-90. 19,45,374 bonus shares
issued in prop. 2:5 in 1990/91.
1992 - The Expansion & Diversification unit was commissioned.
- The 40,000 tpa rolling mill was commissioned in September
- The company also undertook modernisation of SMS division of
Vardhman Special Steels.
1993 - The year the steel division undertook to manufacture special
alloy steels in rolled products.
- The company undertook to set up a gassed and mercerized yarn
project at Hoshiarpur with an installed capacity of 3.5
per day. The company entered into technical collaboration
agreement with a Korean company for the said project.
- The company issued 51,16,167-14% secured redeemble partly
convertible debentures of Rs. 220 each on Rights basis in the
ratio of 2 debentures: 3 equity shares held. Each debenture
converted into one equity share at a premium Rs. 100 per
- The company issued 25,00,000 warrants entitling 25,00,000
shares of Rs. 10 each with detachable 12% secured redeemable
convertible debentures of Rs 300 each to promoters on
- 51,16,167 No. of equity shares issued (prem. Rs. 100 per
on conversion of PCDs.
1994 - The modernisation plan of steel division at Ludhiana was
implemented by installing a modern energy efficient new
and continuous casting system to enable a production of 1.20
lakhs tonnes of billets.
- A portion of the 20,160 spindles at Malerkotla unit was
into a 100% EOU to meet the increasing requirements of
- The company entered into a joint venture agreement with M/s.
Marubeni Corporation & Toho Rayon Co. Ltd., Japan for setting
a 100% EOU to manufacture cotton yarn with a capacity of
spindles at Baddi, HP. In the joint venture to be known in
name of VMT Spinning Company Ltd.
- The company signed a technical collaboration agreement with
Kawasaki Heavy Industries Ltd. & Manubeni Corporation for the
transfer of technical know-how for manufacture of acrylic
with a capacity of 30,000 TPA with two manufacturing lines.
- 1,19,24,977 bonus shares allotted in prop. 1:1.
1995 - The Company entered into a joint venture agreement with Japan
Exlan Co. Ltd. and Marubeni Corporation of Japan for setting
an acrylic fibre project for manufacture of 16,500 TPA
fibre. The project was being implemented in Vardhman
- The Company issued 14%-40,00,000 preference shares of Rs. 10
each. These are redeemble earliest by 30.6.1997.
- 9,50,000 No. of equity shares issued (prem. Rs. 258 per
to Warrant holders on conversion. 9,50,000 bonus shares
to prop. 1:1 to the said Warrant holders.
- 5,00,000 preference shares issued during the year.
-Company law Board passes an order in the compromise proceedings in
the matter of Enakshi Investments Pvt Ltd. and others Vs Vardhaman
-Decides to disinvest part of its equity holding in Vardhaman
-Mahavir Spinning Mills Ltd. acquires 2,237,054 shares of Vardhman
Acrylics Ltd. amounting to 2.06%, increases its stake in Vardhman
Acrylics Ltd. to 38.85%
-Mahavir Spinning has recommended Dividend of 45% on paid up equity
share capital of the Company.
-Vardhman Textiles has given the Bonus in the Ratio of 1:2
-Company has changed its name from Mahavir Spinning Mills Ltd. to
Vardhman Textiles Ltd.
-The Company has been changed from Mahavir Spinning Mills Ltd to
Vardhman Textiles Ltd
-The trading symbol of the company be changed from MAHAVIRSPG to VTL
-Vardhman Textiles has declared an interim dividend of 40% on the
paid up equity share capital of the Company.
-Vardhman Textiles Ltd has informed that the Company holding
44,175,423 equity shares (40.70%) of Vardhman Acrylics Ltd (VAL) has
further acquired 11,700,000 (10.78%) and 3,300,000 (3.04%) equity
shares of VAL from its Foreign Collaborators.
-Vardhman Textile has entered into Joint Venture Agreement on 24th
March, 2008 with American & Efird Inc. (A&E), a subsidiary of Ruddick
-Vardhman Textiles has recommended dividend of 20% on paid up equity
share capital of the Company.
-Vardhman Textiles has recommended dividend of Rs. 3/- per share on
the paid up equity shares of the Company.
-Vardhman Textiles has recommended a Dividend of Rs. 4.50/- per share
on the paid up equity shares of the Company
-Vardhman Textiles has recommended a dividend of Rs. 4.50 per share
on the fully paid up equity share capital of the Company.
-Vardhman Textiles Ltd has recommended dividend of Rs. 6.00/- per
share on the paid up equity shares of the Company.
-Vardhman Group has over 24 manufacturing facilities in five states.
-Mr. Suresh Khatanhar has been nominated as the Director of the
Company by IDBI Bank Limited.
-Vardhman Textiles Ltd has recommended a dividend of Rs. 6/- per
share on fully paid up equity shares of the Company.