Century Textiles & Industries Ltd Company History

The Company was incorporated on 20th October, at Mumbai. The Company

Manufacture textile fabrics, rayon yarn, tyrecord, caustic soda and

allied chemicals, salt, cement, rayon grade wood pulp and writing and

printing paper. The company also carries on Shipping business. The

textile mills are equipped to do bleaching, dyeing, printing,

organising, pre-shrinking, embossing, block printing and amiline

dyeing.

The company signed a technical collaboration and know-how agreement

jointly with Alemene, Kunstzigde Unie N.V. of Holland and Verinigts

Glazstoff-Fabriken AG of Germany to set up a super two tyre yarn and a

cord plant with capacity of 6 1/4 tonnes per day.

The Company obtained a licence for a rayon grade caustic soda plant

of the capacity of 30 tonnes.

In May, 35,050 Bonus Equity shares in the prop. 1:8.

In December, 39,432 Bonus Equity shares issued in the prop. 1:8.

The Company acquired a salt manufacturing unit at Jamnagar in order

to ensure continuous supplies of good quality salt to the caustic soda

plant.

Government's approval was received to set up a composite textile mill

in Indonesia.

3,54,882 Bonus Equity shares issued in the prop. 1:1.

The Company obtained a letter of intent for the establishment of a

cement plant at Maihar in Satna district of Madhya Pradesh for the

manufacture of portland cement with an annual installed capacity of

7,50,000 tonnes. M.P. Govt. sanctioned mining leases of limestone

areas.

A Company under the name of P.T. Elegant Textile Industry was

established in Indonesia as a joint venture for the Indonesian project.

The Company made an application to Indian Govt. for permission to

participate in a joint venture project in Malaysia for palm oil.

3,54,882 Bonus Equity shares issued in prop. 1:2 in January.

An application was made for an industrial licence to set up another

cement plant at Manikgarh in Chandrapur district of Maharashtra with an

annual capacity of 10 lakh tonnes. A letter of intent in this respect

was received in 1979.

During the year, effective steps were taken to install a 10 MW

captive power plant at Manikgarh.

With a view to introducing Pozzolana portland cement, the Company

proposed to install an additional cement mill incorporating the latest

technology.

5,32,323 Bonus Equity shares issued in prop. 1:2.

10,64,646 Bonus Equity shares issued in prop. 2:3.

The Company entered new markets such as Taiwan, South Korea,

Hongkong, Japan, etc. The Company installed 84 Air jet looms in

replacement of old auto looms and 49 ring frames during the year.

The name of the company was changed to the present one from the

Century Spinning & Weaving Company Ltd.

Rajasthan Govt. accepted in principle, the Company's proposal for

establishment of a thermal power station with 400-500MWs capacity to be

operated as base load station. Formal sanction by way of draft licence

by Rajasthan Govt. to Rajasthan State Electricity Board has been

received.

During October, the Company offered 50,00,000-14% secured redeemable

non-convertible debentures of the face value of Rs 100 each on rights

basis in the ratio of two debentures for every one equity share held.

All were taken up. These debentures were redeemable at a premium of 5%

at the end of 7 years from the date of allotment i.e., 15th December.

The Rayon plant had a lock-out for 70 days. The company developed

several new shades of dyed yarns particularly for furnishing and

tapestry industry.

Three D.G. sets with a total capacity of 3.3 MW were commissioned

during the year.

With the acquisition of four more vessels, the Company's fleet

increased to nine vessels inclusive of bulk carriers, timber carriers,

chemical and product tankers.

The aggregate deadweight capacity of the fleet having reached

1,53,829 DWT against the MRTP sanction of 2 lakh DWT, the Company

applied and obtained approval of Govt. to further increase the tonnage

to 5 lakh DWT.

Permissions were received from Govt. for acquisition of 3 more bulk

carriers, two in the range of 15-25000 DWT, one in range of 25-45000

DWT and one product carrier of 25-35000 DWT range.

Rajasthan State Govt. granted licence for establishment for the

Thermal power station with a capacity of 400-500 MWs. Directions were

issued to Rajasthan State Electricity Board to enter into an agreement

with the Company for purchase of total energy supplied by it.

The Major additions for the machinery in Textile Mills division

included 52 Air jet looms, 9 Ruti-C wider width looms, 52 ring frames

and one auto coner winding machine.

Steps were being taken to expand the Cement plant capacity from 8

lakh tonnes to 10 lakh tonnes by technological upgradation,

modernisation and by adding balancing equipment in different sections

of the unit and by installing a pre-calcinator to increase clinker

production.

With the acquisition of four more vessels, the Company owned a

diversified fleet of 12 vessels with an aggregate deadweight capacity

of 2,29,270 DWT.

During the year the Chemical division obtained from the Govt.

permission to introduce the membrane cell technology in the caustic

soda plant.

Production was adversely affected from 1st June, to 5th August, due

to lock-out following the failure of talks on wage agreement.

During June, the Company offered 50,00,000-14% secured redeemable

non-convertible debentures of the face value of Rs 100 each on rights

basis in the ratio of two debentures for every one equity share held.

All were taken up. These debentures were redeemable at a premium of 5%

at the end of 6th (Rs. 35), 7th (Rs 30 + Rs 5 premium) and 8th (Rs. 35)

year from the date of allotment.

The Textile division could withstand the adverse factors such as hike

in input costs, sluggish demand, etc., mainly due to improvements

achieved in product quality and due to introduction of new varieties

from time to time.

With a continuous research and development, the Company was able to

use an enzyme to give a super silken finish to 100% cotton shirting

through a novel technique termed as "bio-polishing".

The Company proposed to install balancing equipments apart from

undertaking certain modifications in the existing plant.

Steps were taken to modernise the salt works for securing higher

production. The Company proposed to undertake manufacture of refined

edible salt in technical collaboration with Kreb & Co. of Switzerland.

The Cement capacity at Maihar was enhanced from 8 lakh tonnes to 10

lakh tonnes by technological upgradation and modernisation.

One bulk carrier of 42,308 DWT was added to the fleet increasing the

overall tonnage to 2,71,578 DWT.

During November, the Company was selected by the MP Govt. for

establishing, maintaining and operating a 2 x 210 MW thermal power

station at Pench in the Chhindwara district. A separate unit "Century

Power" was established to undertake the above said project. An MOU was

signed with the State Govt. for procurement of land for plant,

township, railway siding, etc.

The Application for allocation of feedstock for Rs 650 crores

synthetic elastomers project was awaiting final clearance from the

Petrochemical Ministry.

Necessary applications were made to the Govt. for the setting up of a

new grass-roots caustic soda/chlorine unit of 100 TPD capacity with an

investment of Rs 115 crores.

Necessary approvals were obtained by the Company for a 100% EOU

consisting of 25,200 spindles at Satrati in M.P. for manufacture of

cotton/blended yarn for exports.

15,96,969 Bonus Equity shares issued in prop. 3:5.

During the year, various machineries including speed frames, ring

frames, autoconers, warping machines etc. were installed.

The new caustic soda plant with membrane cells was commissioned in

December.

The company proposed to sell some of the ships of the Company and

replace them with newer, modern ones.

Clearance was accorded by the Central Electricity authority in

principle and funding of the project was to be tied up only after issue

of final techno-economic clearance by CEA.

The Company issued 150,00,000-17% secured non-convertible debentures

of Rs 100 each on private placement basis to financial/investment

institutions. These are to be redeemed at par in annual instalments of

Rs 35, Rs 30 and Rs 35 on the expiry of 6th, 7th and 8th year

respectively from the date of allotment of debentures.

The Company successfully commissioned its new bagasse based paper

unit with a capacity of 84,600 tonnes of paper per annum. During the

year, modernisation and technical upgradation programmes of both paper

and rayon pulp plants.

The Company issued 150,00,000-16.5% secured Non-Convertible

Redeemable Debentures of Rs 100 each aggregating to Rs 150 crores on

private placement basis.

On 26th Sept. the Company issued and allotted 3,93,700 No. of equity

shares of the face value of Rs 100 each at a price of U.S. $ 254 per

GDR representing one equity shares of the Company.

The Company undertook to instal a precalcinator system in kiln No. 1

to increase the clinker capacity by 2 lakh tpa.

Modernisation and diversification schemes were taken up for

increasing the installed capacity of writing paper from 20,000 TPA to

27,000 TPA. Also, steps were taken to increase the installed capacity

of rayon grade pulp plant from 20,000 TPA to 25,000 TPA.

During the year, necessary steps were taken for setting up a

bagasse-based paper project with a capacity of 75,000 TPA.

The Company continued its process of modernisation by acquiring one

44000 DWT bulk carriers built in 1994 and by disposing of 35000 DWT

bulk carrier Aditya Prabha built in 1982. The Company's fleet now

consists of 10 ships aggregating 2,81,010 DWT.

The company proposed to set up a paper board plant of a capacity of

300 TPD at Lalkua.

Technology tie up was concluded with MECON and a subjective MOU was

signed. A new division in the name of "Century Iron & Steel" was set

up to implement the project MECON were to provide consultancy.

The Company proposed to instal one Thermal captive power plant of 15

MW at Maihar plant.

Application was made for necessary approval from Govt. for the

setting up of a sponge iron plant with a capacity of 3 lakh tonnes per

annum. Application was made for mining lease for iron ore.

A project for manufacture of pulp and writing and printing paper with

a total capacity of about 400 tonnes per day at Bhavatgarh was to be

set up.

The Company also proposed to establish another project to manufacture

paper and pulp with a capacity of 300 tonnes per day at Aliganj in the

state of U.P.

An agreement was entered into with M/s. Snia Engineering S.p.a.

Italy for supply of 12 nos. continuous spinning machine for manufacture

of 1500 tonnes p.a. of viscose filament yarn based on 120 denier.

The Company decided to install in the first phase, 2 x 6MW DG genset

at the Kalyan factory in view of the uncertainties regarding Naphta

availability.

One Thermal capative power plant of 15 MW was installed and it

commenced generation during the year.

3,93,700 shares allotted.

Century Textile Ltd has been awarded Textprocil Special Gold Trophy

for its highest global exports for the year 1995-96 in Mumbai.

The share price of Century Textiles and Industries Ltd shot up by

Rs.207.25 to Rs.2,282.25 on 28.4.987, following the announcement by the

company that it would consider the issue of bonus shares at the board

meeting on May 6.

The company had issued on private placement basis 10.25 per cent

cumulative preference shares aggregating to Rs 100 crore on October 29,

1997, redeemable after three years,

The company has allotted bonus equity shares on October 27, in the

ratio of one bonus share for every one equity share held on the record

date (September 26.).

The paid-up equity share capital, therefore, stands increased to Rs

93.05 crore with effect from October 27.

The proposed strike by the workers of the pulp and paper division of

Century Textiles and Industries at Lalkua may dampen the sentiments of

the stock. The workers have demanded for a higher bonus and have

threatened to go on strike from November 3, if the demand is not met.

Century Textiles and Industries Ltd has declared a lock-out in the

Century Pulp and Paper division, including the bagasse unit, with

effect from November 15.

The production in the pulp, paper division was `adversely affected'

on account of the stay-in-strike and go-slow tactics adopted by the

workers.

Workers of pulp and paper division had resorted to an illegal strike

for two days on October 19 and October 20, 1998, pressing their demand

for higher bonus as against the minimum bonus payable under the

provisions of the Payment of Bonus Act, 1965.

The net loss has been primarily due to the illegal strike resulting

in lock-out at the factories of the pulp and paper division from

November 15, 1998.

The lock-out was lifted after a memorandum of understanding was

signed with the workers' union and the division resumed functioning

from January 22.

The company has attributed the poor performance to the ongoing

recession and an `illegal' strike for nearly 68 days by some workers at

the pulp and paper divisions.

The pulp and paper division also commissioned 12 continuos spinning

machines.

Century Textiles & Industries stops operations at its Bagasse paper plant at Nainital.

Century Textiles has decided to shut down its shipping division.

Century Textile and Industries Ltd has informed BSE that Intel Steam Pipeline

of 21 M W Turbine has been repaired and Bagasse Paper Plant production

has been started.

Century Textiles is stepping into branded apparels by leveraging on its brand 'Century'

CTIL, an outfit of B K Birla group has forayed into the fast expanding branded ready-to wear

segment.

Century Textiles has posted a net loss of Rs.44 million in the quarter ended as compared

to net profit of Rs.88.1 million.

Mr Raghu Palat has been appointed as UTI Nominee on the Board of century textiles

in place of Shri A P Kurian.

Century Textiles has decided to diversity into value-added readymade garments and

accessories under the brand name of 'Cottons by Century'.

Century Textiles has decided to refocus on domestic market and to reduce its exposure

in overseas market due to recession in the foreign market.

Century Textiles & Industries Ltd has informed that they have received intimation from The Stock Exchange Ahmedabad, vide letter dated December 29, 2003 that equity shares of Century Textiles & Industries Ltd have been delisted from their exchange wef January 16, 2004.

Century Textiles enters into an agreement for sale of remaining ship

Century Textiles & Industries Ltd has informed that the equity shares of the Company have been delisted from Calcutta Stock Exchange Association Ltd (CSE) w.e.f. August 14, 2006.

Century Textiles all set to acquire land for cement plant

Century Textiles clarifies on news item

Mr R K Dalmia President of Century Textiles, which is a division of Century Textiles & Industries Ltd., was elected as Chairman of Committee of the Confederation of Indian Textile Industry (CITI).

Century Textiles has recommended dividend of Rs 4.50 (Rupees Four and paise fifty only) on equity shares of Rs 10/- each equivalent to 45%

Century Textiles has recommended dividend of Rs. 5.50 (Rupees Five & Paise Fifty Only) on equity shares of Rs. 10/- each equivalent to 55%

Century Textiles as recommended dividend of Rs. 5.50 (Rupees Five and paise fifty only) on equity shares of Rs. 10/- each equivalent to 55%

Century Textiles has recommended dividend of Rs. 5.50 (Rupees Five and paise fifty only) on equity shares of Rs. 10/- each equivalent to 55%

Century Textiles - Order passed by the Competition Appellate Tribunal (COMPAT).

The Board has recommended dividend of Rs. 5.50 on equity shares of Rs. 10/- each equivalent to 55%

Century Textiles hits 52-week high on fund raising plans.

The Board has recommended dividend of Rs. 5.50 on equity shares of Rs. 10/- each equivalent to 55%

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