STANDARD INDUSTRIES LTD. Share Price

Standard Industries is a leading textile goods and chemicals manufacturer in India. They have operations in multiple countries along with India for their textile goods, chemicals and other businesses.

The foundation for Standard Industries was laid in 1892 in Mumbai. The company started as a textile goods and chemicals manufacturer producing grey long cloths, dhotis, poplins, coatings, printed long cloths, drills, crepes and voiles under the trademarks Cockatto and Sapera. Its mills were equipped to handle bleaching, dyeing, mercerising, sanforising, and yarn dyeing operations.

In 1950, Indian Bleaching Dyeing and Printing Works Ltd merged with Standard Industries. Then, in 1955, New China Mills Limited was merged with the company. After years of serving in the textile goods and chemicals industry, the company management was changed in 1977. Mafatlal Industries Limited no longer was the holding company of Standard Industries.

Standard Industries obtained industrial licence in India for 34,760 additional spindles in the Dewas unit and 17,824 spindles were installed by the end of the year. In 1981, the company got approval from the government for the modernisation of the mills and import 104 Sulzer looms for Prabhadevi Unit.

The company also received a letter of intent from the government for the manufacture of 3300 tonnes per year of methyl chloroform, 1-1-1 trichloroethane, 200 tonnes per annum of dichloro ethyl ether, and 10,000 tonnes per annum of stable bleaching powder.

In 1982, the textile strike in Mumbai adversely affected Standard Industries' business. Despite the strike, the company continued modernisation and added 60 new Sulzer looms with ancillary machinery. Two diesel power-generating sets of 1200 KVA were also installed at the Dewas unit.

In 1984, the company got into a joint venture with PT Standard Mills Industries. Standard Salt Works also became a subsidiary of the company. In 1987, 160 unremunerative ordinary looms were scrapped in one of the Ruti-C looms of wider width for export production.

Also, the company received a letter of intent this year for manufacturing 150 million disposable syringes and 300 million hypodermic needles. In 1989, the company's name was changed to Standard Industries Limited.

In 1991, 72 air jet looms were installed for export purposes. In 1992, Mafatlal Apparel Manufacturing Co Ltd was amalgamated with Standard Industries Limited. Four Vouk draw frames, the latest machinery in spinning technology, were added to the Prabhadevi unit in 1993. In 1999, the Surat unit was sold as a going concern to Patdi Commercial & Investments Limited. In 2000, the company got into an agreement with Rashtriya Mill Mazdoor Sangh, the statutorily recognised representative union, and declared the voluntary retirement scheme for workers at Prabhadevi and Dewas plants.

The market capitalisation of the company is over ₹140 crore as of February 28, 2024. Standard Industries share price has risen by over 70% in the last three years.

Financial Highlights

– The revenue from operations was ₹21 crore in FY23 against ₹439 crores in FY22. – Standard Industries’ profit after tax (PAT) for FY23 was ₹22 crore compared to ₹185 crores in FY22. – The earnings per share (EPS) for FY23 was ₹3.37 against ₹28.71 in FY22.