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Vardhman Textiles Ltd

NSE: VTL BSE: 502986

₹508.15

(11.13)%

Tue, 03 Feb 2026, 08:32 am

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vardhman textiles ltd History

1973

  • The Company was incorporated on 8th October.
  • The Company was promoted by Vardhman Spinning and General Mills Ltd.

1975

  • 14,99,989 equity shares and 19,990-11% preference shares were issued.
  • 5,99,989 equity shares were reserved and allotted to Vardhman Spinning & General Mills Ltd.

1978

  • The Company undertook to set up another textile mill with a capacity of 25,000 spindles at Malarkotla in Sangrur district.

1980

  • 7,50,000 right equity shares were issued at par in the proportion of 1:2.
  • 4,10,000 equity shares were allotted to financial institutions on conversion of loans.

1982

  • The installed capacity of the textile mill in Malarkotla Unit rose to 22,768 spindles.
  • 10,64,00 bonus equity shares were issued in the proportion of 2:5.

1983

  • 7,22,400 equity shares were issued to financial institutions on conversion of loans.

1984

  • The Company entered into an agreement with Punjab State Industrial Development Corporation Ltd. for setting up a joint sector project to manufacture printing and writing paper.
  • The Company issued 15% non-convertible debentures for Rs. 250 lakhs as rights to both equity and preference shareholders.
  • 2,00,800 equity shares were issued to financial institutions on conversion of loan.

1985

  • The Company formulated a modernisation scheme with a view to equip the mill with the latest technology.

1986

  • The Memorandum of Understanding/Agreement was entered into between the Company and PSIDC for setting up a project in a joint sector for the manufacture of polypropylene/filament yarn.
  • The Company entered into a joint venture with M/s. Barbour Campbell Group Ltd. for the manufacture of industrial synthetic thread.
  • A letter of intent was received for setting up a weaving unit with a capacity of 300 looms in the State of Madhya Pradesh.
  • Mohta Industries Ltd. submitted a proposal to the Company for its merger.

1987

  • A new sewing thread was introduced in the market under the brand name of TORA.

1988

  • A letter of intent was obtained for setting up an export-oriented spinning unit with a capacity of 25,000 spindles.
  • The Company undertook to set up a unit at Hoshiarpur for the manufacture of sewing thread.
  • The entire assets, liabilities, and obligations of Mohta Industries Ltd. were taken over by the Company.
  • One fully paid equity share of the Company was allotted against ten fully paid equity shares of Mohta Industries Ltd.
  • 1 - 11% Pref. share was redeemed.

1990

  • The Company undertook to set up another unit with a capacity of 6 MT per day at Baddi.
  • All preference shares were redeemed.
  • 19,45,374 bonus shares were issued in the proportion of 2:5.

1992

  • The Expansion & Diversification unit was commissioned.
  • The 40,000 tpa rolling mill was commissioned in September.
  • The Company undertook modernisation of the SMS division of Vardhman Special Steels.

1993

  • The steel division undertook to manufacture special alloy steels in rolled products.
  • The Company undertook to set up a gassed and mercerized yarn project at Hoshiarpur.
  • The Company entered into a technical collaboration agreement with a Korean company.
  • 51,16,167 secured redeemable partly convertible debentures were issued on a rights basis.
  • 25,00,000 warrants were issued to promoters on a preferential basis.
  • 51,16,167 equity shares were issued on conversion of PCDs.

1994

  • The modernisation plan of the steel division at Ludhiana was implemented.
  • A portion of the 20,160 spindles at Malerkotla unit was converted into a 100% EOU.
  • The Company entered into a joint venture agreement with M/s. Marubeni Corporation & Toho Rayon Co. Ltd. for setting up a 100% EOU to manufacture cotton yarn.
  • The Company signed a technical collaboration agreement with M/s. Kawasaki Heavy Industries Ltd. & Manubeni Corporation.
  • 1,19,24,977 bonus shares were allotted in the proportion of 1:1.

1995

  • The Company entered into a joint venture agreement with Japan Exlan Co. Ltd. and Marubeni Corporation for setting up an acrylic fibre project.
  • The Company issued 14% preference shares of Rs. 10 each.
  • 9,50,000 equity shares were issued to warrant holders on conversion.

2003

  • The Company Law Board passed an order in the compromise proceedings in the matter of Enakshi Investments Pvt Ltd and others Vs Vardhman Polytex Ltd.
  • The Company decided to disinvest part of its equity holding in Vardhman Acrylics.

2004

  • Mahavir Spinning Mills Ltd acquired 2,237,054 shares of Vardhman Acrylics Ltd, increasing its stake to 38.85%.

2005

  • Mahavir Spinning recommended a dividend of 45% on paid up equity share capital.
  • Vardhman Textiles gave a bonus in the ratio of 1:2.
  • The Company's name was changed from Mahavir Spinning Mills Ltd to Vardhman Textiles Ltd.

2006

  • The Company's name was changed from Mahavir Spinning Mills Ltd to Vardhman Textiles Ltd.
  • The trading symbol of the company was changed from MAHAVIRSPG to VTL.

2007

  • The Company declared an interim dividend of 40% on the paid up equity share capital.

2008

  • The Company acquired additional equity shares of Vardhman Acrylics Ltd from its Foreign Collaborators.
  • The Company entered into a Joint Venture Agreement with American & Efird Inc.

2009

  • The Company recommended a dividend of 20% on paid up equity share capital.

2010

  • The Company recommended a dividend of Rs. 3 per share on the paid up equity shares.

2011

  • The Company recommended a dividend of Rs. 4.50 per share on the paid up equity shares.

2012

  • The Company recommended a dividend of Rs. 4.50 per share on the fully paid up equity share capital.

2013

  • The Company recommended a dividend of Rs. 6.00 per share on the paid up equity shares.

2014

  • The Vardhman Group had over 24 manufacturing facilities in five states.
  • Mr. Suresh Khatanhar was nominated as the Director of the Company by IDBI Bank Limited.
  • The Company recommended a dividend of Rs. 6 per share on fully paid up equity shares.

2017

  • The Company purchased the entire stake of Marubeni Corporation and Marubeni Hong Kong and South China Limited in its subsidiary VMT Spinning Company Limited.

2018

  • HDFC Mutual Fund picked up a 1 per cent stake in Vardhman Textiles for over Rs 71 crore through an open market transaction.
  • The Company received the Gold Award in ICQCC.

2019

  • The Company received Multiple TEXPROCIL honours for Highest Exports.
  • The Company received the Gold Award in ICQCC.
  • The Company received the SRTEPC Export Award.

2020

  • The Company received the Platinum Award in ICQCC.
  • The Company received the Frost & Sullivan & TERI Sustainability Award.

2021

  • The Company received the India CSR Project of the Year Award.

2022

  • The Company won the Award for Institution Building by World HRD Congress.

2023

  • Vardhman was prominently showcased in Fortune India's distinguished compilation titled Employers Of The Future.

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