YEAR EVENTS 1892 - The Company was incorporated at Mumbai. The main object of the Company is to manufacture textile goods and chemicals. Textile products manufactured are grey long cloths, dhoties, poplins, coatings, printed long cloths, drills, crepes, voiles, etc. The Company uses the trade name "COCKATTO" and "SAPERA". Counts ranging from 11s to 95s are spun and the cloth width ranges from 28" to 60". - The mills are equipped to perform bleaching, dyeing, M.K. printing, mercerising, sanforising and yarn dyeing operations. 1933 - Capital reduced by Mumbai High Court Order dated 8th December by paying back Rs.400 per whole and Rs.100 per quarter share. 1940 - 14,217 whole and 10,332 quarter shares issued as bonus (prop. 7: quarter shares consolidated. 1942 - 4,800 Bonus shares issued in prop. 1:4. 1943 - 6,000 Bonus IInd pref. issued is prop. 1:4. 1948 - 24,000 Bonus Equity shares issued in the prop. 1:1. 1950 - 8,000 No. of Equity shares issued in prop. 2:3 to members of Indian Bleaching Dyeing and Printing Works, Ltd., on its merger. 1955 - 31,800 No. of Equity shares issued in prop. 1:1 to shareholders of New China Mills, Ltd., on its merger. 1958 - 21,950 Bonus Equity shares issued in the prop. 1:4. 1960 - 43,900 Bonus Equity shares issued in the prop. 2:5. The pref. shares are redeemable on 6 month's notice. 1966 - 21,950 Bonus Equity shares issued in the prop. 1:7. 1972 - On 1st January, 24,380 No. of Equity share issued (prem. Rs.200 per share) on conversion of 7.5% Bonds. 1,99,980 Bonus Equity shares issued in prop. 1:1 on March. 1975 - 1,00,000 Bonus Equity shares issued in prop 1:4. 1976 - 39,020 No. of Equity shares issued at a premium of Rs.200 per share on conversion of 8% Bonds. 1977 - Mafatlal Industries Ltd., ceased to be the Holding Company of the Company with effect from 1st January. 1978 - 1,07,804 Bonus Equity shares issued in prop. 1:5. 1980 - Implementation of the industrial licence for 34,760 additional spindles at Dewas unit was taken up during the year, and 17,824 spindles were installed till the end of the year. 1981 - Govt.'s approval was received for modernisation and replacement programme of the Textile Division which includes import of 104 Sulzer looms for Prabhadevi unit. - The Company received letters of intent for the manufacture of 3,300 tonnes per annum of methyl chloroform 1.1.1 trichloroethane, 200 tonnes per annum of dichloro diethyl ether and 10,000 tonnes per annum of stable bleaching powder. - The Company issued 2,00,000-13.5% secured convertible bonds of Rs.500 each on rights basis in the ratio of 2 bonds for every 5 No. of equity shares. 40% of the face value (i.e. Rs.200) will be converted into 1 equity share of Rs.100 each issued at a premium of Rs.100 on 30th June, 1984. The balance amount of Rs.300 per Bond will be repaid in 5 equal annual instalments of Rs.60 each from the end of 8th year from the date of allotment of Bonds viz., 1st October, 1982. - Authorised capital reclassified 2,58,729 bonus equity shares issued in prop. 2:5. 1982 - The Company's operations were adversely affected during the first half of the period due to the textile strike in Mumbai and during the second half due to escalation in cost of production and acute recession in demand. - Despite the Textile Strike, the company continued to modernise its plant and machinery. 60 more Sulzer looms were installed together with the ancilliary machinery. - With a view to overcoming the power shortage, two diesel generating sets of 1200 KVA capacities were installed at Dewas. - To cope up with the rising costs of power, new and latest devices for controlling voltage and thereby power consumption were installed in De Mora cells. 1984 - De Mora cells resulted in a saving of about 400 units of power per tonne of caustic soda. - The Government of India approved the Company's proposal to set up a joint venture name `P.T. Standard Mills Industries'. `Indonesia' in collaboration with SLM-Maneklal Industries Ltd., for the manufacture of cots and aprons for the textile industry and other rubber products in Indonesia. - Land, buildings and plant and machinery of the Company were revalued as on 31st December, and the net surplus arising out of this was credited to capital reserves. - Standard Salt Works Ltd., is a subsidiary of the Company. - 2,00,000 shares allotted (prem. Rs.106 per share) on 30th June in part conversion of bonds. 1985 - Production and sales of caustic soda was adversely affected due to stiff competition. The offtake of chlorine was also partially affected due to reduction in offtake of this product by NOCIL. - The Company issued 30,000-15% secured non-convertible bonds of Rs.1,000 each. These bonds are redeemable at a premium of 5% on the expiry of 7th, 8th and 9th year from the date of allotment viz., 23rd September, in three equal instalments of Rs.350 each, with the inclusion of premium amount in the first instalment. 1986 - Sales and production of chlorosol declined due to the availability of imported trichlorethylene at lower prices in the market. 1987 - As a measure of rationalisation, 160 unremunerative ordinary looms were scrapped in one of the Ruti-C looms of wider width for export production. - The Company's R & D department manufactured and supplied vinyldene chloride to BASF India Ltd. - A letter of intent was received for the manufacture of 150 million disposable syringes and 300 million hypodermic needles. 1988 - The Company installed 83 new Ruti-C looms of wider width for export production. - An application was submitted to manufacture alkali alcoholates within the licensed capacity of caustic soda/caustic potash. 1989 - The Company decided to conduct the business of the textile division of the Shanudeep, Ltd. (Formerly, Surat Cottron Spg. & Wvg. Mills Ltd.), comprising of 48 Sulzer looms, 126 Ruti-C type looms and 72 wider width Ruti-B type looms, from 1st April. - The Shanudeep, Ltd. has a modern spinning plant with 30,000 spindles with the latest preparatory machines for weaving. The agreement was for a period of 3 years ending 31st March 1992. Subsequently, the agreement was extended for another two years from 1st April 1992. - The Company proposed to go ahead with the conversion of Uhde mercury cells into membrane cells in about two years time. The Udhe mercury cell plant was replaced by a new membrane cell plant. - The name of the company was changed from "The Standard Mills Co. Ltd." to `Standard Industries Ltd.' during the year. 1991 - Upward trend in the prices of cotton and raw materials coupled with overall increase in power and labour charges adversely affected the profitability of Textile division. - It was proposed to install 72 air jet looms for export. It was also proposed to install open end spinning, machines, some processing equipments and modernise the existing spindleage. - 44,22,212 bonus equity shares issued in prop. 2:5. 1992 - Two autoconers one at Sewree and the other at Dewsas unit was installed. - Mafatlal Apprael Manufacturing Co. Ltd., a 100% subsidiary of the Company was amalgamated with the Company with effect from 1st April. - The Company offered during September, 32,50,325-17.5% secured redeemable partly convertible debentures of Rs.100 each aggregating Rs.32.50 crores. Out of the total issue, 30,95,548 debentures were offered and allotted to the equity shareholders in the ratio of 1 debentures for every 5 equity shares held and the balance 1,54,777 debentures were offered and allotted to the employees (including working directors)/workers of the Company. - A portion of Rs.50 of each debenture (part-A) was to be automatically and compulsorily converted into one fully paid equity share of Rs.10 at a premium of Rs.40 per share at the end of 6 months from the date of allotment of the debentures. The non-convertible portion of Rs.50 (part-B) of each debentures would be redeemed at par in 4 equal instalments of Rs.12.50 each, at the expiry of the 5th, 6th, 7th and 8th years from the date of allotment of the debentures. - In order to meet long term working capital requirements, the company issued during March, 90,000-9% secured non-convertible debentures of Rs.1000 each aggregating Rs.9 crores on private placement basis to UTI, LIC and GIC and its subsidiaries. These debentures are redeemable in 3 equal yearly instalments at the end of the 6th, 7th, and 8th years from the date of allotment of the debentures. 1993 - Four Vouk draw frames, latest version in spinning technology was commissioned at Prabhadevi and one autoconer each was installed at Sewree and Prabhadevi unit. - All efforts were made to reduce the power consumption especially in the Electrolysis in both Be Nora and Uhude cell houses. - 32,50,325 shares allotted (prem. Rs.40 per share) in part conversion of 17.5% debentures. 1994 - During the year, inorder to modernise and upgrade the quality of product-mix, the company commissioned 4 Auto-Coners Model AC-238, 1 Two-For-One Twister and 4 Ring frames in the Mumbai units. - 93,64,034 bonus equity shares issued in prop. 1:2. 1,12,36,840 No. of equity shares of Rs. 10 each were issued at a prem. of Rs. 50 per share on Rights basis in prop. 2:5. 1996 - The performance of the Chemicals division was affected due to the commissioning of a number of large sized caustic soda plants and the competition. 1997 - The composite Textile Industry has been facing strains of inflationary pressures. - As empowered by the Shareholders at the last Annual General Meeting, the Company has sold its Dewas Unit, as a going concern for a total consideration of Rs. 17,43,75,000/- to S. Kumars Synfabs Limited. - Prabhadevi and Sewree Units of the Textile Division have obtained Certification from SGS Yarsley International Certification Services Ltd. for quality management system meeting the requirements of ISO 9002. - Due to prolonged strike by transporters in April, 1997, production had to be stopped for a week's time. - During the year under review, the Captive Power Plant which was commissioned in September, 1996, has since been running satisfactorily giving the rated capacity and performance after initial teething troubles. - The Company has helped the Polio eradication drive of the Government by providing about 300 Lunch packets to the campaign organised by Navi Mumbai Municipal Corporation. 1999 - During the year the Company's Textile Unit at Surat was sold as a going concern to Patdi Commercial & Investments Limited. - The Company has executed an Agreement with National Securities Depository Limited for the dematerialisation of its Equity Shares in accordance with the provisions of the Depository Act of 1996. 2000 - The Board has decided to issue, offer and allot by way of private placement to off-shore investors, including NRIs and OCBs, up to 2,50,00,000 No. of equity shares of Rs 10 each at par of the company. - The Company has entered into an agreement with Rashtriya Mill Mazdoor Sangh, the statutorily recognised representative union, and has declared the Voluntary retirement Scheme for the workers of both Prabhadevi Textile Unit and Sewree Textile Unit at Mumbai, who are covered by the Bombay Industrial Relation Act, 1946. - The Company has installed new machines in the Process House and is striving to improve the per metre realisation of fabric. 2010 -Registered Office of the Company has been shifted To Plot No.4, TTC Industrial Area, Thane Belapur Road, PO Ghansoli, Navi Mumbai, Thane - 400 701. 2011 -Company has recommended a dividend of Re. 0.75 per equity share of Rs. 5/- each. -Company have been appointed K J Pardiwalla as an Additional Director, D H Parekh as an Additional Director as well as Whole Time Director of the Company. 2012 -Standard Industries has recommended a Dividend of Re. 0.75 on 6,43,28,941 Equity Shares of Rs. 5/- each of the Company. 2013 -Company has recommended a Dividend of Re. 0.75 on 6,43,28,941 Equity Shares of Rs. 5/- each of the Company. 2014 -Company has recommended a Dividend of Re. 0.75 on 6,43,28,941 Equity Shares of Rs. 5/- each of the Company.