DCM Ltd Share Price

History of DCM Ltd

DCM Ltd(Formerly Delhi Cloth Mills) was established as a Public Limited Company on March 26, 1889 in the name and style of Delhi Cloth & General Mills Co. Limited. The Company was founded by Lala Sri Ram, the Promoter of the Company. DCM Ltd, the flagship company of DCM Group comprises DCM Engineering Products, DCM Data Products, DCM Textiles and DCM Estates after the restructuring of its diversified business interest into 4 companies in April 1990. DCM Group became one of India's largest conglomerates. It expanded and diversified its activities into a number of manufacturing activities such as Textiles, Sugar, Chemicals, Rayon, Tyre Cord, Fertilizers, Information Technology and Engineering Products etc. The name of the Company was changed on October 6, 1983, to DCM Limited. The Compan ...y is engaged in the business of Grey Iron Castings , IT Infrastructure Services and Real Estate. The Company started its operations in 1889 by setting up a spinning mill in Delhi. It has grow to become a diversified player with presence in manufacture of cotton, synthetic yarn and textiles, rayon tyre cord, sugar, alcohol and confectionery, heavy chemicals and fertilisers, PVC resins and compounds, electronic desk calculators, mini computers, etc. The company was re-organised into 4 companies -- DCM, DCM Shriram Industries, DCM Shriram Consolidated and Shriram Industries Enterprises -- from Apr.'90. After the re-organisation the company has taken up a major expansion -cum-diversification project in FY 1993-94. This includes the expansion of the foundry and pattern shop in Ropar, Punjab, massive real estate development project to construct a self-contained residental complex and a modern non-polluting factory complex, setting up a a 1800-tpa hosiery, fabric dyeing and processing facility(in collaboration with Benetton, Italy). DCM came out with a rights issue in Feb.'93, to finance the manufacture of alloy/grey iron castings, with an additional capacity of 18,000 tpa to manufacture aluminium die castings, an independent tool room, a forge shop, a 100% EOU for spinning yarn, and modernisation of its units, etc. During 1996-97, company has increased the installed capacity of Alloy Iron/ SG Iron Castings by 15000 TPA. The DCM Real Estates division started its construction frm 6th December of Phase A. The commercial production of Tool Room has started w.e.f. 1st Feb.'96. The company has absorbed the technologies of M/s Meissner which was used for manufacture of Complex Toolings. In 1997-99, it increased the installed capacity of spindles to 37,348 nos. The World over, the 80's was the decade of diversification. However, the 90's were a time for consolidation and focusing on core business areas. The business of the Company was reorganized with effect from 1.4.1990 under a Scheme of Arrangement sanctioned by the Hon'ble High Court of Delhi at New Delhi in 1990. As a result, the Hon'ble High Court of Delhi had passed the Order dated 29th October, 2003 in the matter of Scheme of Restructuring and Arrangement and Scheme of Merger/ Amalgamation of DCM Data Systems Limited with the Company, for: (a) hiving off of Engineering Products Division into a separate company viz. DCM Precision Engineering Limited w.e.f. 1.4.2001; and merger of DCM Data Systems Limited with the Company w.e.f. 1.4.1999. In 2003, the DCM Data System Limited, the erstwhile Subsidiary of the Company (since merged with the Company) acquired the software business of M/s DCM Technologies Ltd w.e.f. 01.04.2003 as a going concern on slump sale basis together with business assets and liabilities. Under the said Reorganization, all units of Company existing at that time stood vested and continued to vest in terms of the said Scheme into four separate companies namely, DCM Limited (DCM), DCM Shriram Industries Limited, DCM Shriram Consolidated Limited and Shriram Industrial Enterprises Limited.