Kothari Industrial Corporation Ltd

NSE: KOTHARINDL BSE: 509732

₹147.03

(2.03%)

Fri, 16 Oct 2026, 11:27 pm

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Market Cap (in Cr)1618.71

PE Ratio0

Dividend0

Process Industries

Chemicals: Agricultural

24.5K

Company History

1954

A Textile Division was put up at Adoni.

1959

Another mill was put up at Coimbatore with 24,196 spindles.
The Kothari Textile Mill No. 1 and Mill No. 2 units at Coimbatore produced fine counts of yarn, including viscose staple fibre and polyester/cotton blends on hanks and cones and also manufactured higher medium mills, long-cloth, poplin, lawns, gaberdines and polyester-cotton shirtings and suitings.

1970

The Company was incorporated on 1st July with the main object of taking over as going concern the entire undertaking of Blue Mountain Estate and Industries Ltd., Waterfall Estates Ltd., Balmadies Plantation Ltd., Kothari Textiles Ltd. and Adoni Spg.& Wvg. Co. Ltd.
All shares subscribed for by signatories to the Memorandum of Association.

1971

1,80,000 pref. and 22,25,850 No. of equity shares were allotted without payment in cash to members of 6 companies under a Scheme of Amalgamation.

1976

14,80,000 right equity shares were issued at par in proportion 2:3 in June.

1977

13,00,000 No. of equity shares were issued privately at par.

1980

1,29,760 No. of equity shares were issued at par to IFCI on part conversion on loan.

1981

ICICI, LIC, UTI, GIC and its subsidiaries, subscribed to privately placed 13.5% debentures, with an option to convert 20% of the subscription amount into equity shares of the Company.
4,00,000 No. of equity shares were issued to IDBI and 3,00,000 No. of equity shares to LIC in conversion of loans.
Pref. shares redeemed.

1983

The Company revalued its tea and coffee plantation lands to represent the intrinsic value.
20,00,000 No. of equity shares issued on part conversion of 10,00,000-13.5% debentures of Rs. 100 each.

1984

Machine utilisation in the loom-shed decreased due to frequent load sheedding.
The Company revalued the building and plant and machinery in the plantations, land, building and plant and machinery of the textiles division and land, buildings and plant and machinery of the coffee curing division.
The name of the Company was changed from Kothari (Madras) Ltd., to present one with effect from 10th April.

1985

Production of superphosphate was curtailed due to poor off-take consequent of drought conditions in the Southern region and stoppage of production for facilitating expansion of superphosphate and sulphuric acid plants.
The poor capacity utilisation coupled with increase in power tariff, interest charges and depreciation affected the profitability of Chemical Division.
The capacity utilisation at Fertiliser Division, Chemicals Division, Textile Division was adversely affected due to strikes for nearly a month in 2 mills in Coimbatore and for about 45 days in the Adoni unit.
Authorised capital increased and re-classified.

1986

The Company switched over to Double Contact Absorption System in sulphuric acid plant by installing new broad field den and venturi scrubber.

1987

Production of coffee crop at 761 tonnes was lower due to drought coupled with erratic blossom showers.
9,004 tonnes of coffee was cured and the curing work had been tuned to handle 14,000 tonnes per annum.
The production in the Chemicals Division was affected due to continued power cut and recession in the user industries like paper, textiles, etc.
Approvals from shareholders were received for the sale of the chemicals division to Southern India Petrochemical Industries Corporation (SPIC).

1988

The non-depreciable lands at the plantation estates were revalued as on 30th June.
Kothari (Chennai) International Ltd., is a subsidiary of the Company.
Securities Operations & Investment Co. Ltd., is also a wholly owned subsidiary of the Company.

1989

There was a fire accident in the tea factory in Waterfall Estate (East) resulting in damages to the entire building and machinery.
A new factory building was constructed and latest machinery was installed.
The Company undertook a modernisation of programme along with installation of additional balancing equipments that would enable the division to produce 80,000 tonnes of super phosphate and 40,000 tonnes of sulphuric acid.
Steps were taken to install additional generators at the mills.

1990

Production at the two textile mills at Coimbatore was marginally affected due to the industrywide strike for about 19 days in September/October.
The Company undertook a project for the manufacture of granite monuments and markers with a capacity of 10,000 sq. mtrs. per annum.
A new company under the name Tata Kothari Steels Ltd., was jointly promoted by the company and by the House of Tatas for setting up a plant in South India for production of pig iron with a capacity of 1,20,000 TPA.
Kothari Information Systems, Ltd., became a subsidiary of the Company.
15% secured non-convertible redeemable debentures aggregating Rs. 270 lakhs were privately placed with UTI and debentures aggregating Rs. 180 lakhs were allotted to LIC.

1991

There was a strike for 42 days in Coimbatore belt in October-November and consequently production in the Company's 2 mills at Coimbatore was affected.
The performance of the Textile Division was affected due to increase in raw material and other input costs and labour problems in Coimbatore belt.

1992

The Company issued 4,50,000-16% secured redeemable partly convertible debentures of Rs. 400 each on rights basis.
Another 22,500-16% partly convertible debentures of Rs. 400 each were offered to the employees.
Part `A' of Rs. 250 of each debenture was converted into 10 equity shares of Rs. 10 each at a premium of Rs. 15 per share.

1993

The Company proposed to modernise the mills in two phases over a period of 2 to 3 years.
The Company replaced certain ring frames with latest long ring frames and imported three autoconers and three auto leveller.
The Company allotted 3,60,000 No. of equity shares of Rs. 10 each at a premium of Rs. 15 per share to non-resident Indians on repatriation basis.
45,68,200 No. of equity shares were allotted on part conversion of 16% debentures at a premium of Rs. 15 per share.