YEAR EVENTS 1871 - Morarjee Goculdas Spinning & Weaving Company Limited was incorporated on 10th August at Mumbai. - The main objective of the company is to manufacture cotton textile goods. The products manufactured are drills, mulls, satins, coatings, sarees, sheeting, crepe poplins, shirtings, dhoties, table cloth, towels, voils, prints, etc. Counts ranging from 6s to 120s are spun and the cloth width ranges from 26" to 75". The Mills are equipped to carry out bleaching, dyeing, mercerising, printing, schreinering, calendering and yarn. 1963 - 23,000 right equity shares offered at par in prop. 4:9. 1970 - The company floated a subsidiary under the name and style of Gopikisan Piramal Ltd., with a view to develop its exports and to deal in power loom cloth so that the same may be processed by it. - Piramal Exports Ltd., and Elphin Investments Ltd., are also subsidiaries of the Company. - The Company proposed to issue 12.50% - 17,250 secured non-convertible debentures of Rs. 100 each in lieu of 6.43% Preference shares in the proportion 1 Debenture: 1 Preference share. - The debentures will be repaid at par at the end of 10 years from the date of allotment with an option to the Company to repay the amount in instalments by drawing lots at any time. 1971 - 74,750 Bonus equity shares issued in prop. 1:1. 1972 - 37,375 bonus equity shares issued in prop. 1:4. 1977 - 193,437 Bonus equity shares issued in prop. 1:2. 1979 - With effect from 12th March, the company purchased the assets of pharmaceutical division of Kemp & Co. Ltd. The results of pharmaceutical division till the end of June were not upto expectations. Plant and machinery of pharmaceutical and chemical division have not been used for production purposes since 1980 and were being dismantled. 1980 - On 26th April, the company signed an agreement for the purchase of the textile unit of Sayaji Mills Ltd., known as Sayaji Mills No. 2 located at Lower Parel, Mumbai. - In November, the company purchased the assets of the chemical division of Urvi Investments Ltd., known as Piramal Organic Chemicals. Priamal Organic Chemical division worked only for a few days as there was a prolonged strike upto the end of June 1981. 1981 - 1,40,156 bonus equity shares allotted on 28.2.1981 in prop. 1:2. 1989 - A modernisation scheme to ensure adequate availability of high quality products for export market was drawn. 1990 - A project for the manufacture of twist drills at Ankleshwar was commissioned. 1991 - Efforts in reviving Davangere were beginning to bear fruit in terms of improved productivity and higher realisation. - Auto Ancillary division continued to be affected by the recession in the domestic automotive industry. The loss in domestic sales was largely made up by a sharp rise in exports. During the year, an alternator was developed for export to Germany. - The Morarjee Goculdas Spinning & Weaving Co., Ltd. were allotted without payment in cash to shareholders of Davangere Cotton Mills, Ltd. in the proportion of 10 Morarjee: 15 Davangere. 1992 - During demand for textile products was weak in the first nine months and showed signs of improvement in the last quarter. There was a sharp increase in cotton prices as well as power tariff. - Satisfactory sales performance was registered in tool bits, hacksaws and band saws. However, in drill and end mills the offtake was affected due to stagnant market conditions in domestic as well as exports markets. - Recession continued to affect domestic automotive industry. Exports showed a phenomenal rise of 265%. - During September, the Company offered 39,09,306 Rights equity shares of Rs. 10 each at a premium of Rs. 115 per share and in proportion 1:3. - PMP Auto Industries, Ltd., a wholly owned subsidiary of S.S. Miranda, Ltd., was amalgamated with the holding Company. S.S. Miranda was then to be amalgamated with The Morarjee Goculdas Spinning & Weaving Co., Ltd. PMP is in the business of manufacturing and dealing in various automobile parts and has two manufacturing plants on at Goregaon in Mumbai and the other at Satara in the State of Maharashtra. S.S. Miranda Ltd., is in the business of manufacturing and dealing in cutting tools and tool bit blanks for engineering industries and has two manufacturing plants, one at Mumbai and the other at Ankleshwar. - The Scheme of Amalgamation provides for an exchange ratio of one equity share of Rs. 10 each of the Morarjee Goculdas Spg. & Wvg. Co., Ltd. for every one equity share of Rs 10 each of S.S. Miranda, Ltd. Accordingly, 16,00,000 No. of Equity shares of Rs 10 each of the Company were allotted to the erstwhile shareholders of SSM during 1991-92. - The rehabilitation scheme for Davangere Cotton Mills, Ltd., based on its merger with Morarjee Mills with effect from 1st July, 1991 was approved by BIFR. Consequent upon this merger, 50,667 No. of equity shares of Rs 10 each of The Morarjee Goculdas Spinning & Weaving Co., Ltd. were allotted without payment in cash to shareholders of Davangere Cotton Mills, Ltd. in the propn. of 10 Morarjee: 15 Davangere. 1993 - Cotton prices increased by 30% due to lower crop production and Government's policies pertaining to export of cotton. Despite these, the Company managed to hold its gains through strategic procurement policies, upgradation of facilities, increase in productivity etc. During the year, `Hazel' range of salwar kameez introduced and it was proposed to set up franchise operations throughout the country for the same. - The Tool division enjoyed the benefits of lower raw material costs due to steep reduction in import duty on steel. - As per the agreement entered into with TESA, Switzerland the Company was to receive precision measurement instruments. - With the recovering of the automotive industry, turnover of OEM customers improved by 41% over the previous year. - The Company started Systems division for provision of software consultancy in the field of information technology besides other areas of software development. - The `Tsudakoma' air jet looms, `Ruti-C' looms Laxmi Reiter Ring Frames and other balancing machineries were received as a part of its modernisation programme. The Company proposed to modernise its Mumbai and Davangere unit. - Pref. shares redeemed on 1.7.1992. 39,09,306 right equity shares (prem. Rs. 115, Prop. 1:3) allotted. 1994 - The Tool division entered into arrangements with Kyoera of Japan, world leaders of cerment/ceramic cutting tools; L.S. Starrett Co., of the USA, through their UK subsidiary and Samta of South Africa for Bi-metal bandsaws. - `Robocop', an anti-theft device for cars was introduced. - 40,00,000 No. of equity shares of Rs. 10 each for cash at a prem. of Rs. 50 per share was allotted on February 21st, 1995. 1995 - The performance of the Textile Division was severely affected due to sluggish market condition both in domestic and international markets coupled with severe competition from power loom sector. In order to improve realisation of fabric the company implemented a 2 tier system of marketing. Production at Davangere and Gadag Units were affected by critical power situation. - The textile industry continued to be under recession and added to this was the high costs of inputs. The operations of the company got further affected due to a fire in the winding & doubling department of unit No. 1. Hence due to loss of some critical equipments, the supply of value added exports products suffered badly. With the upgradation of technology and modernisation of plant. - The Company has entered into an alliance with the Wakefield Shirt Company Ltd. of U.K., for manufacturing of "Double Two" brand of apparel in India. - The Company proposed to expand the capacity of Endmill to 25,000 units per month. - Sales and exports of Auto Ancillary division was affected due to the labour unrest which lasted for 3 1/3 months. Auto ancillary business was spun off from the parent company into a separate company in order to allow expansion or restructuring of the division in collaboration with a strategic investor. 1996 - The Endmill expansion of the division was completed during the year taking the total capacity to 20000 units per month. - The performance of the Textile Division continues to be under pressure due to sharply escalating costs, Sluggish market conditions and unfair competition from the powerloom sector. - The company proposed to expand the Guarantor-Dealer network. Davangere and Gadag units continue to be affected by the critical power situation. - During September the company signed a joint venture agreement with Cromwell Croup (Holdings) Ltd., U.K. to set up a separate company to sell, market and distribute company's products. - The company formed a 50:50 joint venture with Manifattura di Valle Brembana (MVB) of Italy, to manufacture and market high quality shirting fabrics. It was commissioned at Butibori near Nagpur. - The saw business of the Tools Division has been spun off into a Separate Joint Venture Company `Miranda Amsaw Pvt. Ltd.' The joint venture was promoted by the company and American Saw & Mfg. Co. Ltd., with 50:50 equity participation. Joint venture commenced operations from 1st July, 1997. 1997 - The Complete modernisation was taken up and the modernised process house was commissioned on 7th July 1998. This was carried out with the technological support of joint venture partner M/s. Manifattura, Italy. - The company took a step towards working closely with reputed fashion designers to create its own design to cater the emerging fashion trends. A major restructuring was undertaken at Davangere works to reduce costs and rationalise manufacturing. - The grey fabrics of the unit were being processed at Mumbai with a view to reducing costs and also to enable upgradation of quality. - Exports rose by 22% as the division took advantage of the weakening Rupee. - The company undertook to expand the capacity of Taper Shank drills. The Systems Division also undertook to expand the capacity of endmill production. 1998 - Modernisation & Expansion division also undertook to expand the capacity of endmill production. 2002- Morarjee Goculdas Spinning & Weaving Company Ltd has informed that, it has reappointed Mr P K Gothi the Managing Director of the Company from January 22, 2002 for a period of five years. Mr Jaydev Mody has been appointed as a Director of the Company liable to retire by rotation. 2004 -The Morarjee Gokuldas Spinning & Weaving Co. Ltd has informed that the Honourable High Court of Judicature at Bombay has directed that a meeting of the Equity Shareholders of the Company be convened on January 15, 2004 for the purpose of considering the Scheme of Arrangement proposed to be made between The Morarjee Gokuldas Spinning & Weaving Co. Ltd and Canere Actives & Fine Chemicals Pvt. Ltd., and their respective members, for the demerger/transfer of the Tools Division of The Morarjee Gokuldas Spinning & Weaving Co. Ltd to Canere Actives & Fine Chemicals Pvt. Ltd., The Company also informed that, an Extraordinary General Meeting of the Company has also been convened on January 15, 2004, to be held soon after the conclusion of the aforesaid Court Convened Meeting for seeking shareholders approval for: (1) Debiting Share Premium Acccount pursuant to Section 100 r/w Section 78 of the Companies Act, 1956. (2) Change of Name of the Company to Morarjee Realities Ltd; (3) Approval to the appointment of Mr. Jaydev Mody as Managing Director w.e.f November 26, 2003. -Morarjee Gokuldas Spinning & Weaving Co. Ltd Change of name of the Company 2006 -Company has changed its name from Morarjee Realties Ltd. to Peninsula Land Ltd. 2007 - Peninsula Land Limited has shifted the Registered office of the Company w.e.f from 15th February, 2007 : From: 106 Peninsula Centre, Dr S S Rao Road, Parel, Mumbai 400 012. To Peninsula Spenta, Mathuradas Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. Telephone No. 6615 4651 - 53. Fax No 6615 4593. - The Company has splits its face value from Rs10/- to Rs2/-. 2008 - Mr. Sudhindar Krishan Khanna apointed has as an Additional Independent Director of the Company. - Board recomends a dividend of 40% on Equity shares of Rs 2/- each. 2009 - Board recommend a dividend of Re 0.90 per share on Equity shares of Rs 2/- each. 2010 - Board recommends dividend of Rs. 1.50 per share on Equity shares of Rs. 2/- each. - Board has appointed Mr. Rajesh Jaggi has Managing Director. 2011 - Board has recommended dividend of Rs. 1.70 per share on Equity shares of Rs. 2/- each. 2012 - Mr. Pradeep Pasari would be appointed as the Company Secretary and Compliance Officer of the Company. - Board has recommended dividend of Rs. 1.1 per share on Equity shares of Rs. 2/- each. 2013 - Peninsula business park awarded as the "Best Commercial Project" under MMR by RR KABEL CNBC AWAAZ real estate awards 2013. -Mr. Rajashekhar Reddy has been appointed as the Company Secretary and Compliance Officer of the Company. 2014 -Board recommended a Dividend of Rs. 0.40/- per share on Equity shares of Rs. 2/- each. 2018 -Peninsula Land Limited has informed the Exchange regarding 'Intimation regarding launch of new Project'. 2019 -The company has launched the second phase named 'addressOne Central Park' to develop 600 apartments. -Peninsula Land Limited has informed the Exchange regarding 'Launch of New Project'.