Mafatlal Industries Ltd Share Price

History of Mafatlal Industries Ltd

Mafatlal Industries Limited was incorporated in January, 1913. The Company is engaged in the textile business segment and textile chemicals. It produces a range of products, which includes 100% cotton and in polyester/ cotton blends, consisting of yarn dyed and piece dyed shirtings, poplins, bottomwear fabrics, cambric's, fine lawns and voiles. The Company has two units: Nadiad unit and Navasari unit. The company was During the year 1991-1992, the company set up one subsidiary, namely 'Gujarat Gas Co.Ltd' with effect from 26 December 1991 and its electronic components division (Maftlal Micron), set up a factory for the manufacture of 50,00,000 professional grade connector annually at Gandhinagar near Ahmedabad. In August 1992, Mafatlal Micro Machines Division went into commercial p ...roduction and in March 1993, the company's chemical commissioned production of specialty chemicals at a capital cost of Rs. 236 lakh. In September 1993, the electronic components division went into commercial production. Also, they set up one subsidiary, namely Mafatlal Holding Limited during the year 1992-93. During the year 1994-1995, Mafatlal Fine Spg & Mfg. Co. Ltd. (MF) amalgamated with Mafatlal Industries Limited. During the year 1995-1996 the company's garments division captured the 'Ready-to-Wear' men's market segment with relaunch of its TRENDZ men's wear brand. During the year 1996-1997, the company textiles division, achieved leadership position in high quality 100% cotton voiles and grey workwear fabrics in the global market. During the year 1998-1999 the company set up one subsidiary, namely Suannda Industries Ltd. During the year 1999-2001, the company textile division, developed of cotton rich blends like cotton / viscose, cotton/lycra, cotton / polyester for export market and also developed of 2 x 2 voile fabrics with dyed yarn for export. During the year 2002-2003, the company established in processing of colour woven fabrics with bright reactive colours and single shot bleaching of bull denim fabrics and crinkles / creased / distressed fabrics. During the year 2003-2004, the company developed some fabrics namely, 100 % lien - natural stretch shirting fabrics, durable glitter print on 100% cotton base fabrics, and crush finish/Look in 100% cotton shirting fabrics. During the same year, the company developed of shirting fabrics (yarn dyed, white) & dress material (printed) in 100% organic cotton with without natural stretch. During the year 2004-2005, the company set up one subsidiary, namely Mishapur Investment Limited and in the same year it increased the installed capacity of cloth cotton from 777 units to 780 units. During the year, the company completed the task of consolidating the manufacturing facilities by transferring plant and machines to Nadiad and Navsari units and in the same year. the company demerged two companies namely, Navin Fluorine International Limited (NFIL) and Sulakshana Securities Limited (SSL). During the year 2005-2006, the company into entered with agreement Annapurna Polymers Pvt. Ltd (APPL) for the sale of Ahmedabad unit at an aggregate consideration of Rs. 6.77 crores. During the year 2006-2008, the company's unique strength the capability to make a wide range and variety of fabrics including Paints, Yarn Dyeds, Solids, Dobbies, Seer Sucker, encompassing an extensive colour palette, these fabrics from the soul for fashion casuals, classic formal wear for men and women. In 2005-06, the Company was demerged into three companies through the Rehabilitation Scheme. The Chemicals Division was Demerged and vested in Navin Fluorine International Limited (NFIL) (formerly known as Polyolefins Rubber Chemicals Limited) from 1st March,2002. Surplus/Non-productive assets/ investments together with liabilities of Secured Term Lenders were demerged and vested into Special Purpose Vehicle i.e. Sulakshana Securities Limited (SSL) with effect from 1st April,2002. The remaining Textiles Business was with the Company. Share Capital of the Company was written down by reducing the face value of the equity shares by 90% i.e. from Rs.100/- to Rs.10/- per Share. NFIL issued and allotted 49,99,999 equity shares of Rs.10/- each to the shareholders of the Company in the ratio of 1:1 which were listed on Mumbai and Ahmedabad Stock Exchanges. The Company in 2010-11, sold its Mazgaon Unit land in Mumbai. In 2012-13, The Scheme of Arrangement and Amalgamation of Mishapar Investments Limited (Wholly-Owned Subsidiary Company) and Mafatlal Denim Limited (Promoter Group Company) with the Company was made effective from 28th May, 2013. The Company issued and allotted 40,99,415 Equity Shares of face value of Rs 10/- each fully paid-up to the shareholders of Mafatlal Denim Limited on 30th May, 2013 in ratio of 1:10 as per the Scheme and the said shares got listed at the BSE Ltd. w.e.f. 15th July, 2013 and at the Ahmedabad Stock Exchange Ltd. w.e.f. 18th July, 2013. The new plant commissioned at Dahej in Gujarat in 2012-13.