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Ruby Mills Ltd. Company History and Annual Growth Details

1917 - The company was incorporated on 9th January, at Mumbai. On
29th July, 1918, the name of the company was changed from
Hormusjee Ardeshir S. Goculdas and Co., Ltd., to Ruby Mills Ltd.

- The main objective of the company is to manufacture of cotton
textile goods. Products manufactured are long cloth, shirting,
twill, poplins, dorias, rayon and staple fibre linen and coating.
Counts ranging from 10s to 60s are spun and the cloth width
ranges from 30 inches to 55 inches. The mills are equipped to do
bleaching, dyeing and finishing operations.

1939 - Capital reduced as per Court's Order dated 10th March.

1942 - 12,000 bonus shares issued in the proportion 1:1.

1957 - 36,000 bonus shares issued in the proportion 3:2.

1966 - 36,000 bonus shares issued in the proportion 3:5.

1970 - 32,000 bonus shares issued in the proportion 1:3.

1988 - The Company explored the possibility of exporting yarn and
fabrics of U.K., European countries and the Far East.

1989 - 32,000 bonus shares issued in the proportion 1:1.

1991 - The company issued 1,00,000-9% non-Convertible debentures of
Rs. 100 each on private placement with the UTI. These are
redeemable at a premium of 5% in three equal annual instalments
commencing from 30th January, 1998.

- 32,000 bonus shares issued in the proportion 1:2.

1992 - During the year, the company suffered production loss on account
of fire in the winding section at Dadar Mills and absenteeism of
workers due to communal disburbances during December.

- During April, another 3,024 spindles were installed. It was also
proposed to instal 4 nos. winding machines incorporating the
latest technology.

- The company undertook to set up two chemical units at Ankleshwar
in Gujarat under the names 'Ruby Chem' and 'Ruby Mineral and
Grinding' for the manufacture of sodium dichromate, potassium
dichromate and chromic acid and mineral grinding respectively.
These two units were already registered as small scale units.

- Ruby Implex Ltd. became a wholly owned subsidiary of the Company
with effect from 9th March.

- 2,40,000 Bonus shares allotted in prop. 5:2 on 15.12.1992. All
the equity shares then subdivided on 15.1.1993.

1994 - During the period, due to the shift over and stabilisation, there
was a loss of production at weaving stage and the operation in
spinning unit at Dhamni was also affected by labour strike.

- 8,20,000 No. of equity shares issued at a prem of Rs. 225 per
share on private placement.

1995 - In order to expand its production activity and expand its
marketable products, the company entered into a technical
know-how agreement with M/s. Gygli Technik AG for manufacture of
interling fabric.

1997 - Operational performance of the company was not encouraging due to
prolonged strike at Dhamni spinnig unit of the company since
August, recession in the Textile industry, increase in the cost
of raw materials and labour.

2002-P D Phatak appointed as Company Secretary of Ruby Mills.