Mafatlal Industries Ltd

About the Company :

Mafatlal Group is a stirring saga of Mr. Mafatlal Gagalbhai the founder, a weaver of Ahmedabad.

Alongwith Chandulal Mahadevia, a friend, and Arthur Shorrock, an Englishman who knew some British textile-machinery manufacturers in Lancashire, he took over the management of a small mill in Ahmedabad, and named it the Shorrock Mill.

The first mill did extremely well, and Mr. Mafatlal developed an appetite for expansion. Six years later, in 1912, he bought a mill in neighbouring Nadiad for Rs 6.26 lakhs. The second mill was christened New Shorrock.

It was in the 1970’s and 1980’s, under the leadership of Mr. Arvind Mafatlal, that the existing business was consolidated. The Group also diversified into Information Technology, Chemicals and the Engineering Industry. The late 1980’s saw the Group further diversifying into the Financial Service Industry, Gas Distribution and later into Healthcare business. From 1995 onwards, the strategy has been to focus on the Core Competence viz. Textiles and Chemicals and divest from other businesses.

Latest News :

For the six months ended on 30th September 2013, MIL’s total income was Rs. 501.15 crore and net profit stood at Rs.17.86 crore. Basic & diluted earnings per share (EPS) was recorded at Rs. 12.84.

Mafatlal Denim Ltd and Mishapar Investments Ltd, a wholly owned subsidiary of the company have been amalgamated with the Mafatalal Industries Ltd, the effect of which has been given in the quarter ended 31st March 2013. Thus, the quarterly and the half yearly financial numbers are not comparable with the numbers of corresponding period of last year.

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