The 5-year analysis of Modern India Ltd's performance infers:
We analysed the performance of Modern India Ltd share prices over the last 10 years. Here is what we found out:
Modern India ltd.(MIL) was founded by a British gentleman by the name of Gordon and was called 'The Gordon Mills'. Gordon Mills survived the severe hardships and heavy tax structure of the British Empire with the help of its dedicated owners, employees and shareholders. Gordon Mills was officially incorporated into the Indian Companies Act on October 24, 1933 as 'Modern Mills Ltdâ€. (MML) under ownership of the Sirur family.
Over years Modern Mills Ltd. became one of the reputed
Over years Modern Mills Ltd. became one of the reputed business houses in the Indian textile industry. With the mill workers strike in the 1990s MML went into a deep financial burden and had to shut down production facilities and went under the BIFR scheme. MML was later taken over by the Jatia family in the early 1990s. The Jatia family infused fresh capital into MML and restarted production with upgraded facilities. Although the new management strived hard to revive MML's past glory, the financial unviability of operating a composite textile mill in the heart of Mumbai with high labour, electricity, water costs and a heavier tax structure, MML was forced to close down its manufacturing unit in the year 2004. MML at the time of closing was one of the last textile mills still functioning in Mumbai.
After shutting down its manufacturing facility, MML changed its identity, renaming itself to 'Modern India Ltd' (MIL). With changes in the government policy, MIL started to focus on other areas of business and today operates a real estate company, which has developed MIL's land bank in Mahalaxmi, Mumbai and is looking at new development projects. At the same time MIL has also started a technical training Institute called the 'Indian Institute of Jewellery' (IIJ), MIL is also a master distributor of GemVision Corporation, USA, having exclusive rights to distribute all GemVision products in India.
Modern India Property Developers Limited, a subsidiary company of Modern India Limited is developing an electronic hardware, software including IT & ITeS special economic zone at Khopoli in land admeasuring 36.89 acres, for which formal approval is received & notification application is filed with designated Development Commissioner. This SEZ would have state of art amenities and integrated development consisting of place of work, residence and leisure. This project is expected to be fully operational by March 2011.
Modernâ€™s overseas division, Modern International Asia Ltd (MIAL) also delivers customized solutions for other products. MIAL has forayed into the trade of lights, luggage, paper, chemicals, textiles, rubber tyres and steel. The aim for MIAL is to become a completely integrated trading firm covering all aspects related to trade, right from placing the order to delivery of goods to your doorstep. At MIAL, we believe that world trade would soon be dominated by BRIC nations, MIALâ€™s endeavor is to provide quality products from these nations to the rest of the world.
Business area of the company:
Subsidiaries: The wholly owned subsidiary of Modern India Limited are-
The associated companies of Modern India Limited are-
Modern India has announced that Garware Institute of Career Education and Development, a division of the University of Mumbai, in technical collaboration with the companyâ€™s wholly owned subsidiary, Indian Institute of Jewellery Ltd. will offer Post Graduate Diploma Program in Gems and Jewellery from the month of August, 2009.