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PBM Polytex Ltd. Company History and Annual Growth Details

YEAR EVENTS
1919 - The Company was Incorporated on 24th November, in the name of
The Petlad Bulakhidas Mills Company, Ltd.

- The company's object is to manufacture all kinds of processing
yarns, industrial yarns, hosiery yarns, polyester blended yarns
and other specialised yarns. The company also has exclusive
selling rights from reputed international business house.

1945 - On 5th April, the paid-up value of each equity share of Rs.100
was reduced to Rs.50 per share as per order of the high court of
Baroda.

1948 - On 30th August, the paid-up value of each equity share was
raised to Rs.100 and the company capitalised an amount of
Rs.4,73,650.

1949 - 9,473 - 4% bonus pref. shares issued to the Equity shareholders
in the prop. 1:1.

1969 - On 28th August, Gujarat High Court slashed the paid-up value of
each equity share to Rs.23. The company sub-divided the paid-up
value of equity shares into shares of Rs.10 each after the issue
of bonus shares along with the public offer during February 1987.

- As per the order of the Gujarat High Court dated 28.8.69 paid up
value of every pref. and Equity share reduced to Rs.21 and 23
respectively. The pref. shares to rank for dividend from 1.1.70
onwards. 43,478 shares to be issued under instruction from
Gujarat High Court.

1970 - 32,959 No. of equity shares issued as fully paid-up under the
scheme.

1974 - 42,432 bonus equity shares of Rs.23 each issued in prop. 1:1 on
25.3.1975.

1978 - The management of the company was taken over by the `House of
Patodia' whose range of activities covered all spheres of textile
from basic raw material to finished products. The House also
acts as indenting agents for multinational companies of Austria,
France, Japan, Taiwan etc.

1986 - Effective from 20th October, the company's name was changed from
The Petlad Bulakhidas Mills Co., Ltd., to PBM Polytex, Ltd.

- Pref. shares redeemed on 1.1.1987. 84,864 bonus shares of Rs.177
each allotted in February 1987 to existing equity shareholders to
make the shares Rs.200 paid-up each. Equity shares then
subdivided into shares of Rs.10 each. 2,720 No. of equity shares
of Rs.10 each then allotted to employees etc.

1987 - The Company issued 90,000 - 15% non-convertible debentures of
Rs.100 each. These debentures redeemable on 10th April, 1994 at
5% per annum.

- During February, the company issued 4,50,000 No. of equity shares
of Rs.10 each for cash at a prem. of Rs.2 per share linked to
90,000 - 15% secured redeemable non-convertible debentures of
Rs.100 each. Of these, the following were reserved for allotment
on a preferential basis:

- (i) 22,500 shares linked to 4,500 debentures to employees (none
were taken up)

- (ii) 9,000 shares linked to 1,800 debentures to business
associate (none were taken up) and

- (iii) 1,12,500 shares linked to 22,500 debentures to Non-resident
Indians on repatriation basis (only 44,200 shares and 8,840
debentures taken up). The balance 3,06,000 No. of equity shares
linked to 61,200 debentures, along with unsubscribed portion of
99,800 shares and 19,960 debentures not taken up under the
preferential quota, were offered to the public (all were taken
up)

1988 - With a view to diversifying its activities, the Company to set up
a synthetic yarn texturising and twisting project at Pipari
(Silvassa) in the Union Territory of Dadra and Nagar Haveli.
This went into production in the last quarter. This
diversification would bring about decentralisation of production
with blended yarn being manufactured at Silvassa and 100% cotton
yarn being manufactured at Petlad in Gujarat.

1989 - Esotex Industries and Exports Ltd., a 100% Export Oriented
spinning unit jointly promoted byd the company commenced
commercial production. The company invested Rs.70 lakhs in the
equity capital of the joint venture.

- 5,37,500 Bonus equity shares issued in prop. 1:4 on 17.1.1990.

1990 - The company issued 14% non-convertible debentures worth Rs.99
lakhs to SBI Mutual Fund on private placement basis for
meeting the long term working capital requirement.

- 7,00,000 No. of equity shares issued (prem. Rs.8 per share) of
which 35,000 shares reserved for preferential allotment to
employees (only 26,400 shares taken up). The balance 6,65,000
shares, along with 8,600 shares not taken up by employees, were
offered for public subscription in March. (all were taken up).

1991 - The Company had set up a new unit at Bargaon in Chinndwara
district in M.P. near Nagpur with a spindleage of about 18,000
with a view to manufacturing yarn of export variety.

1993 - 16,93,750 Rights shares issued in prop. 1:2.

1995 - 10,16,250 Rights Equity shares issued at par in prop. 1:5.

1996 - The company proposed to issue 2032500 No. of equity shares for
cash at par aggregating Rs.2.03 crores, on rights basis in the
ratio of 1:3.

2005 -Company has recommended dividend @ 6% on the paid up Capital (i.e. Paise 60 per share of Rs 10/- each).

2006 -Company has recommended a dividend @9% on the Paid-Up Capital (i.e. Paise 0.90 per share of Rs 10/- each).

2007 - Company has recommended dividend @ 10% on the Paid Up Capital (Rs 1/- per share of Rs 10/- each).

2010 -Company has recommended dividend @ 20% on the Paid Up Capital (i.e. Re. 2/- per share of Rs. 10/- each).

2011- PBM Polytex Board has recommended dividend @ 10% on the Paid Up Capital (i.e. Re. 1/- per share of Rs. 10/- each).

2012 - Company Board has recommended dividend @ 15% on the Paid Up Capital (i.e. Rs. 1.50 (Rupee One and Fifty Paise) per share of Rs. 10/- each)

2013
-PBM Polytex Ltd has recommended dividend @ 20% on the Paid Up Capital (i.e. Rs. 2/- (Rupees Two Only) per share of Rs. 10/- each).

2014
-PBM Polytex Ltd has recommended dividend @ 25% on the Paid Up Capital (i.e. Rs. 2.50 (Rupees Two and Fifty Paise only) per share of Rs. 10/- each.

2015
- PBM Polytex Ltd won silver medal award in category 1 of cotton yarn exports received from textile export promotion council

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