YEAR EVENTS 1910 - The company was incorporated at Coimbatore. The main objective of the company is to manufacture cotton yarn, staple fibre yarn and cloth under the trade have `Lakshmi Mills'. It spins counts ranging from 20s to 100s and the cloth width ranges from 50" to 53". 1947 - 24,000 bonus shares (Rs. 50 paid up) issued in prop. 1:1. The 23,282 partly paid shares made fully paid by capitalisation of reserves @ Rs. 25 per share. 1948 - 71,282 `A' bonus shares issued in prop. 1:1. 1957 - 71,282 shares of Rs. 50 each and 71,282; `A' shares of Rs. 25 each issued at rights at par in prop. 1:1. Only 70,718 shares of Rs. 50 each and 70,718 `A' shares of Rs. 25 each taken up. 1966 - 2,13,000 `A' equity bonus shares issued in prop. 1:1 equity and 1:2 `A' equity. 1977 - Coimbatore Cotton Mills Ltd., was amalgamated with the company effective from the close of business on 30th November. 1979 - 36,000 No. of equity shares of Rs. 50 each and 36,000 `A' equity shares of Rs. 25 each allotted without payment in cash to the members of Coimbatore Cotton Mills Ltd. in the prop. of 1 equity and 1 equity `A' share for every equity shares of Rs. 100 each held by them on its merger. 1981 - Authorised capital reclassified. Bonus equity shares issued in prop. 1:1 are as follows: - (i) 7,18,000 No. of equity shares of Rs. 50 each and - (ii) 3,91,000 No. of equity shares of Rs. 50 each (surrendering the original 3,91,000 `A' equity shares of Rs. 25 each). 1983 - The company issued non-convertible debentures for Rs. 3.75 crores. 1984 - 7,47,000 No. of equity shares of Rs. 50 each consolidated into 3,73,500 shares of Rs. 100 each. 1986 - IDBI sanctioned a loan of Rs. 2.60 crores under the textile modernisation fund. - United Bleachers Ltd., Mettupalayam became a subsidiary of the company with effect from 31st March. 1989 - The Company had taken up a substantial modernisation programme. 72 old NMM looms were replaced with new high production Lakshmi-Ruti looms to cater to needs of the export market. In addition, the spinning preparatory machine was modernised. One 860 KVA generator was replaced by 1160 KVA generator at Kovilpatti unit. - The favourable monsoon all over the country and a record cotton crop resulted in stable raw material, along with a good market for staple fibre yarn and cloth in both domestic and export markets, contributing higher profits. 1990 - Due to a strike by the workers the profitability declined. - 8 nos. autoconers and high volume cotton testing instruments were imported to cater to the needs of export market. In addition, the spinning plant was modernised. 1991 - Profitability was adversely affected due to the steep rise in cotton prices, changes in Government policies pertaining to import and export of cotton yarn etc. - The Company offered 78,435-15% partly convertible debentures of Rs. 800 each as follows: - (i) 74,700 debentures offered to shareholders on rights basis in the proportion 1 debenture: 5 shares held and - (ii) 3,735 debentures to the employees (including working directors)/workers of the Company on an equitable basis with a provision to offer the unsubscribed portion, if any, to Mutual Funds/institutions at the discretion of the directors, subject to the approval of CCI. - Part-A of Rs. 470 of each debenture was to be converted into one equity share of Rs. 100 each at a premium of Rs. 370 after the expiry of 6 months from the date of allotment of debentures. - Part-B of Rs. 330 of each debenture was redeemable at par in three equal annual instalments at the expiry of 6th, 7th and 8th year from the date of allotment of debentures. 1992 - The profitability, however, was adversely affected mainly due to continued recession which led to poor offtake and unremunerative prices, political disturbances and a strike by workmen for 58 days in the three units of the Company. The prolonged strike came to an end and normal working resumed in all the three units on 14th May, 1993. - 90,200 No. of equity shares allotted (prem. Rs. 370 per share) in conversion of debentures on 27.10.1992. 1994 - 2,31,850 shares allotted as bonus shares. 1995 - However, profitability was seriously affected on account of the above factors coupled with additional interest burden due to the implementation of modernisation scheme. - New Trutzschler Blow Room Machine along with 20 second hand Trutzschler high production cards and second hand Autoleveller draw frames were imported. 1996 - The company entered into an agreement with M/s. Das Lagerway Wind Turbines Ltd. for use of power generated in 40 Wind Turbines to be installed by them. 2005 -The Company has recommended a dividend of 10% for the year. 2006 -The Company forayed into the readymade garments segment with the launch of its own western casual wear brand, `Tyche Life'. -The Company has recommended a dividend of 15% for the year. 2007 -The Company designated e-mail ID for the grievance redressel division / compliance officer exclusively for the purpose of registering complaints by investors and displayed on website of the Company. 2008 -The Company has recommended a dividend of 5%. 2009 -The Company has recommended a dividend of Rs 5.00 per equity share of Rs 100/- each. 2010 -The Company has recommended a dividend of Rs. 9.00 per equity share of Rs. 100/- each. 2011 -The Company have recommended a dividend of Rs. 9/- per equity share of Rs. 100/- each. 2013 -The Company have recommended a dividend of Rs. 12/- Per equity share of Rs. 100/- each. 2014 -The Company have recommended a dividend of Rs.15/- Per equity share of Rs. 100/- each.