Cheviot Company Ltd Share Price

History of Cheviot Company Ltd

Cheviot Company Limited was incorporated on December 27, 1897 with the name Delta Jute Mills Company Ltd. In September 1976, the company name was changed to Cheviot Company Ltd. The company manufactures and exports jute yarns and fabrics in India and internationally. The Company is renowned for manufacturing superior quality Hessian fabrics for export market at the Export Oriented Unit situated at Falta Special Economic Zone in West Bengal, India. They operate two business segments, namely Jute goods and Captive power generation. Their jute products include sacking bags, sacking cloth, hessian cloth and bags and decorative fabrics. In May 1967, Budge Budge Jute Mills Company and Cheviot Jute Mills Company were amalgamated with the company and subsequently In January 1968, the company ... was renamed as Budge Budge Amalgamated Mills Ltd. In 1972, the management of the company was transferred to B D Kanoria, B N Jhunjhunwala and S P Poddar. In the year 1986, they set up a new unit at Ghaziabad in Uttar Pradesh for the manufacture of HDPE/PP laminated and unlaminated woven sacks and fabrics. During the year 1993-94, the company expanded their jute yarn capacity from 1570 MT to 3313 MT. In the year 1995, the company was accorded the Export House status. In January 1997, the company commenced commercial production of high grade industrial fabrics in their Export Oriented Unit at Budge-Budge. During the year 1996-97, Elite (India) Ltd became a subsidiary of the company. During the year 1998-99, the company increased the production capacity of Jute Goods to 44,282 MT. During the year 1999-2000, they further increased the production capacity of Jute Goods by 1075 MT to 45,357 MT. During the year 2000-01, they further increased the production capacity of Jute Goods from 45,357 MT to 46,595 MT. During the year 2002-03, Elite (India) Ltd ceased to be subsidiary of the company with effect from August 8, 2002. In January 2003, company commenced commercial operation in their Captive Power Plant with the installed capacity of 3.14 MW. In March 2003, the company commenced commercial production of industrial fabrics at their new 100% Export Oriented Unit (EOU) in Falta Special Economic Zone (FSEZ). During the year 2003-04, the company increased the production capacity of Jute Goods from 48,074 MT to 53,208 MT. During the 2004-05, the company increased the production capacity of Jute Goods from 53,208 MT to 55,591 MT. Also, the company decided to set up a project to create facilities to manufacture jute yarn in the Falta Special Economic Zone. But, during the year 2005-06, they dropped the implementing of yarn manufacturing facilities largely on account of the changed overseas market scenario of Jute Yarn. They increased the production capacity of Jute Goods from 55,591 MT to 58,645 MT. During the year 2006-07, the company expanded the production capacity of Jute Goods from 58,645 MT to 58,700 MT. During the next year, they further increased the production capacity of Jute Goods from 58,700 MT to 64,034 MT. The company became a subsidiary company of Harsh Investments Pvt Ltd, one of the promoter companies with effect from July 05, 2008, pursuant to amalgamation of another promoter company with Harsh Investments Pvt Ltd. During the year, 2008-09, the company got their Export Oriented Unit situated at Budge-Budge de-bonded from 100% EOU Scheme. They increased the production capacity of Jute Goods from 64,034 MT to 64,280 MT. In 2018, Cheviot allocated reserves and resources to introduce a new line of horticultural products and light weight geotextiles by strengthening its position in the United States of America. The new weaving unit, commissioned within the Jute Mill located at Budge Budge, commenced commercial production from 11 March, 2023 with dedicated Sulzer looms for production of high-quality jute fabric and diversified jute products.