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H P Cotton Textiles Mills Ltd. Company History and Annual Growth Details

1981
- The Company was incorporated as a Public Ltd. Company on 3rd September, and the Certificate of Commencement of Business was obtained on 5th January, 1982. The Company was promoted by Arjun Das Agarwal, Kashmiri Lal Agarwal in Association with the Haryana State Industrial Development Corporation, Ltd. The main objective of the Company is to manufacture cotton and/or synthetic yarn/thread.

- The Company set up a sewing thread cum spinning mill with an installed capacity of 12,480 spindles for the manufacture of cotton sewing thread and industrial yarn of different colours
for sewing, weaving carpet and canvas belting, filter cloth, tarpaulins, taper, fishing nets, canvas cloth and industrial ropes. A major part of the machinery was obtained from Lakshmi
Machine Works Ltd., Coimbatore.

1985
- 7,07,800 shares taken up by promoters, directors, etc. and 2,12,000 shares allotted to HSIDC. 22,80,000 shares then issued at par of which 5,12,200 to promoters, directors etc. and 2, 67,800 shares to HSIDC were reserved and allotted. The balance 15,00,000 shares were offered for public subscription during October 1984. Only 2,95,400 shares were taken up. The balance 12,04,600 shares devolved on the underwriters (6,42,000 shares of IDBI and 2,81,100 shares each on IFCI and ICICI).

1989
- The Company undertook to expand its capacity from 13,728 ring spindles to 24,980 ring spindles.

1991 - The Company installed another 11,232 spindles bringing the total installed capacity to 24,960 spindles. Commercial production on the newly added capacity started only during November - December. Besides, a few balancing machinery was also added to the thread division to improve the product-mix and range of products.

1992
- The Company undertook scheme of backward and forward integration to increase the thread manufacturing capacity by around 80%.

- 6,10,000 equity shares allotted at par to promoters, etc. in conversion of their unsecured loans.

1993
- The Company successfully implemented expansion scheme.

- 62,250 equity shares forfeited.

1996

- The Company has chalked out a programme for modernisation and Balance of equipments and testing gadgets.

2013

-H P Cotton has recommended a dividend 10% (Rupee 1 per share of Rs. 10/- each).

2014

-Company has recommended a dividend of @ 10% (Rupee 1 per share of Rs. 10/- each).

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