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Century Textiles & Industries Ltd..

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Century Textiles & Industries Ltd..
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vishal1986
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Century Textiles & Industries Ltd.. - August 24th, 2005

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Introduction:
Century Textiles & Industries Limited, Mumbai was incorporated in the year 1897. Till 1951 it had only one industrial unit - Cotton Textile Mills. Since then the Company has been making rapid progress in widely diversified fields. At present, the company is not only the trend setter in Cotton Textiles but has also made a remarkable presence in Yarn, Denim, Viscose Filament Rayon Yarn, Tyrecords, Caustic Soda, Sulfuric Acid, Salt, Cement and Pulp & Paper. The Company has also entered in the business of Tram Shipping and is also engaged in the activities of Properties & Land Development, Builders & Floriculture. The company is managed by Board of Directors, comprising of eminent Industrialists, businessmen and dedicated professionals and chairman of the Board is Mr. B.K. Birla.

GLOBAL PRESENCE

Century Textiles produces 100% cotton fabrics. Century's cloth covers the length and breadth of the Globe. In the highly competitive international markets, Century's cloth has carved a niche for itself. In fact, Century Fabric has charmed its way into: Austria, Australia, Bahrain, Bangladesh, Belgium, Canada, China, Cyprus, Czechoslovakia, Denmark, Dominican Republic, Egypt, Finland, France, Germany, Hong Kong, Hungary, Israel, Italy, Kenya, Kuwait, Lebanon, Lithuania, Madagascar, Malta, Malaysia, Mauritius, Nepal, Netherland, Norway, Oman, Panama, Poland, Portugal, Russia, S.Africa, S.Korea, Saudi Arabia, Singapore, Slovania, Spain, Sri Lanka, Taiwan, Thailand, Turkey, U.A.E., U.K., USA, West Indies and Zimbabwe.


VISION STATEMENT

To continuously modernise, expand and technologically upgrade our Textile, Yarn and Denim divisions for producing excellent quality goods to meet the changing customer needs, improve foreign exchange earnings by promoting exports, face global competition and further improve our global presence, fame and glory. To ensure customer satisfaction, become cost effective, to promote employee participation and to implement innovative methods for enrichment of quality of life of all concerned.


CONCRETE VISION ELEMENTS

Modernisation, expansion and technological upgradation to achieve International Standards of excellence.
Marketing focus on the changing customer needs and change of product suited to customer requirements.
Promotion of exports and earning valuable foreign exchange for the country.
Regular upgradation to face global challenges and competition from developing countries.
Continuous Organizational restructuring to ensure customer satisfaction.
Cost effectiveness in all areas of operations and effective management to meet global competition.
Participation of employees and their motivation for achieving our visionary goals.


AN ENVIABLE STRING OF AWARDS

At the first ever global contest sponsored by 'The Textile Horizon' - an International Textile Magazine published by The Textile Institute, Manchester, U.K., Century Mill was chosen for the highly coveted "International Textile Mill of the Year Award".

The above award is an addition to the glittering string of awards, applauds and achievements, a record yet to be set by any Company in India. Century has won 73 awards, including 26 awards from Cotton Textiles Export Promotion Council, 22 awards from Government of Maharashtra, 8 National Awards from Government of India and 5 awards from Indo-German Chamber of Commerce for its outstanding export performance.

In its pursuit of allround excellence, Century has a tradition to devote its resources towards Greener Earth which result in receiving Championship Trophy at Flower, Plants and Vegetable Show on several occasions.

Century has inculcated habit of regular savings through-out the organisation. National Savings Commissioner for India declared it as Bachat (saving) Mill in recognition to its efforts for promoting the habit of savings amongst its employees. Century has been also declared as All India Best Pay-roll saving group in private sector.


Goals:
To ensure customer suitable and cost-effective production technology.
To conquer tomorrow's marketplace today.
To ensure and monitor financial operations in a way to suitably encounter currency value fluctuations.
To evolve a cost-effective system for integrating continuous quality improvement efforts of the people at all levels in our organisation, leading to Total Quality Management.
To inspire all employees of the organisation towards improved Quality of Life, thereby focussing everyone towards beating the best.

HUMAN RESOURCE MANAGEMENT

Century Textiles & Industries Limited is a Learning Organization. The rich cultural heritage of 102 great years of its progressive and dynamic existence is proof enough towards the high value being given to HRM. Contemporary systems and methods are in place to sharpen the individual skill levels as well as to improve the quality of life. Many research scholars and authors in their publications have quoted company's strong and valued HR policies.

Some of the pointers are:

A scientific way of recruitment and staffing. A transparent promotion policy.
Round the year Training and Refresher programmes.
Equal emphasis on Technical as well as Behavioural training inputs.
Incentives for increasing educational attainment both for the employees and their children.
Focus on spiritual and ethical values.
A number of Employee's Welfare Schemes are in practice



EFFICIENT MANAGEMENT

Century Textiles is well known for a vigilant and professional management. To promote Human Resource Development, it imparts regular training to all workers and organises refresher courses for Supervisory and Management cadre staff. It has a team of dedicated and experienced workmen, managerial, technical staff and executives. It has cordial relations with workmen and their representative union.

With planned and channelised material feeding to machines, it has been possible to achieve machine utilisation of 99.5% of the installed capacity and manufacture yarn and fabrics of International standard.

SALES POLICY IN INDIA AND OVERSEAS

Basic feature of Century's marketing policy is "FIRST SELL, THEN PRODUCE". Century's sales policy for world-wide export is sell for 6 months at a time - (January to June and July to December) and this sale is completed 2 months in advance before the commencement of the period for which the sale is made.

For domestic market the same is for 2 months at a time and that too in advance. By this policy it is possible to control the inventory of fabric to the bare minimum.

All fabrics therefore, are delivered to the buyers in India and world-over only after receipt of full payment through irrevocable letter of credit at sight in case of export and by demand documentary bill in domestic market. This has been achieved as a result of excellent quality of fabrics appreciated by fashion lovers world-over and fair business dealings.

Internationally the Indian textiles are sold with two names viz. Century Textiles and Indian Mills. Century Fabrics for export are offered for pre-shipment inspection to the government inspecting agency, "Textiles Committee" under standard A-1, which is the highest grade under which presently no other Indian mill is offering its fabrics.

Being in the business of textiles manufacturing and marketing, with decades of success in export, Century takes special care with regard to its dealing with domestic and international customers. It is by now renowned for its:

Quick business responses
Planned business bookings
Timely despatches
Meticulous pre-packing quality inspection
Zero-defect fabric
Extra careful packaging
Customer feed-back evaluation
After sales service
Fair business policies
It is to the credit of the mill that it has established and maintained most cordial business equation with a string of leading buyers from all over the globe.

ENERGY CONSERVATION

Century stands for energy conservation by process renovation and upgrading of techniques. In recognition to its outstanding achievement century bagged 4 Gold Trophies and one Sliver Trophy from the "I.B.P.L. Urja Research Foundation."

ENVIRONMENTAL CARE

Being environment conscious, Century has adequate pollution control arrangements both for water and air to provide healthy atmosphere in the locality.

Its clean technology for dyeing of sulphur black colour has been cited as a lone example from textile industry world over, in United Nations publication "CLEANER PRODUCTION WORLDWIDE " published from England. For this technology Century also received Indian Merchant Chambers Award as an outstanding contribution in Technology Research pertaining to the textile industry.

In a planned manner. Century Textiles has phased out the use of toxic and harmful dyes and chemicals by switching over to the use of non-toxic, biodegradable dyes, chemicals and enzymes.

Thus, Century Textiles became the first textile unit in India to receive Humano-Ecological Oeko-tex Certificate for "Confidence in Textiles" from Germany for its fabric exported world-over. Scope of the Oek-tex certificate has been continuously enlarged and at present it covers the entire product range being manufactured.

It also became possible to modify the effluent treatment plant to generate Biogas, which is utilised in the mills, making it an example of Wealth from Waste.

Century Textile's case has been elaborated in the changing consumption and production patterns book " UNLOCKING TRADE OPPORTUNITIES " by the International Institute of Environment and Development, London, prepared for United Nations Department of Policy Co-ordination and Sustainable Development. This book was released in Earth Summit +5 Conference held in New York during May 1997.
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Finacial Positions-Market Position-Annoncements-GLobal PResence-Of CTIL - August 24th, 2005

August 20th, 2005

Century Textiles & Industries Ltd declared that the company at its 108th Annual General Meeting (AGM) held on July 26, 2005, inter alia, have accorded to the following:
1. Adoption of the Directors' Report, Audited Balance Sheet & Profit & Loss Account for the year ended March 31, 2005.
2. Declaration of dividend of Rs 2.50 per equity share for the year ended March 31, 2005.
3. Re-appointment of Shri P K Daga and Shri C K Birla, as Directors of the Company.
4. Re-appointment of M/s Dalal & Shah, Chartered Accountants, as Statutory Auditors of the Company to hold office from the conclusion of this meeting till the conclusion of the next Annual General Meeting of the Company.
5. Appointment of Shri Amal Ganguli, as a Director of the Company, liable to retire by rotation.


21st July, 2005

Century Textiles & Industries Ltd has announced the following unaudited results for the quarter ended June 30, 2005:The Company has posted a net profit of Rs 461.00 million for the quarter ended June 30, 2005 as compared to Rs 199.00 million for the quarter ended June 30, 2004. Total Income (net of excise) has increased from Rs 6033.90 million in Q1-05 to Rs 6713.70 million for the quarter ended June 30, 2005



May 3rd, 2005

Century Textiles & Industries Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from July 07, 2005 to July 26, 2005 (both days inclusive). The dividend will be paid to those members whose names stand on the Register of Members of equity shares as on July 26, 2005. The dividend will be made payable on or after July 29, 2005. The Annual General Meeting of the Company will be held on July 26, 2005.


May 3rd, 2005

Century Textiles & Industries Ltd has announced the following audited results for the quarter & year ended March 31, 2005:
The Company has posted a net profit of Rs 425.40 million for the quarter ended March 31, 2005 as compared to Rs 423.80 million for the quarter ended March 31, 2004. Total Income has increased from Rs 6643.80 million in Q4-04 to Rs 6958.60 million for the quarter ended March 31, 2005.
The Company has posted a net profit of Rs 1096.30 million for the year ended March 31, 2005 as compared to Rs 765.90 million for the year ended March 31, 2004. Total Income has increased from Rs 23119.00 million in FY-04 to Rs 25396.90 million for the year ended March 31, 2005.
The Board of Directors has recommended a dividend @ 25% on paid up equity share Capital for the year ended March 31, 2005 as against 20% paid in the previous year on Equity Shares of the 10/- each. The dividend when declared by the Company in General Meeting will be paid in accordance with the provision of the relevant law for the time being in force.
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