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Victoria Mills Ltd. Company History and Annual Growth Details

YEAR EVENTS
1913 - The company was incorporated at Mumbai. The objects of the
company is to manufacture and sale of cloth, yarn and cotton
waste. Products manufactured are dhoties, sarees, shirtings,
printed poplins, voiles, grey and bleaching long cloth, gadlapat,
coatings etc. The company is equipped to perform printing,
bleaching, dyeing, calendering, mercerising, yarn dyeing and
sanforising operations. Counts ranging from 18s to 80s are
spun and the cloth width ranges from 24' to 64'.

1943 - Issued 4,000 bonus shares prop. 1:3.

1944 - Issued 10,000 bonus pref. shares prop. 1:1.

1945 - Issued 8,000 Bonus pref. shares prop. 1 equity.

1946 - Issued 8,000 Bonus pref. shares prop. 1 equity.

1949 - Issued 16,000 Bonus equity shares (prop. 1:1), equity shares
consolidated.

1960 - Issued 1,600 Bonus equity shares, prop. 1:10.

1961 - Issued 4,400 bonus equity shares prop. 1.

1966 - Pref. dividend increased in 1962. 4,400 bonus equity shares
issued in prop. 1:1. in 1966.

1969 - 8,800 Bonus equity shares issued in prop. 1:3.

1974 - 14,080 Bonus Equity shares issued in the prop. 2:5.

1978 - 29,568 Bonus Equity shares issued in the proop. 3:5.

1981 - Pref. shares redeemed on 1st January.

1982 - 19,712 Bonus shares allotted in January in prop. 1:4.

1987 - The general strike by transport workers in December for 3 weeks
paralysed the transport of goods.

1995 - The Company scrapped 576 ordinary looms, 96 narrow width draper
looms and 15,000 old spindles as a part of major restructuring
programme.

1996 - The overall performance of the company was adversely affected due
to increase in labour cost, water charges, power tariff and
sluggish market conditions.

- The Company proposed to hive off the textile division due to
continuous operating losses and entered into an agreement with
M/s. Oasis Fashion Pvt. Ltd., for sale of textile undertaking.

1997 - Performance of the Company was affected due to tight liquidity
situation.
 
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