Modern India Ltd.
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46.25 ▼0%

04 June 2021, 04:00:00 P.M.

Overview View Details

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Website http://www.modernindia.co.in
Financial Indicators
Market Cap 173.64 Cr.
Earnings per share (EPS) -2.97 Trailing Twelve Months Ending 2020-12
Price-Earning Ratio (PE) - Trailing Twelve Months Ending 2020-12
Industry PE 117.90 Trailing Twelve Months Ending 2020-12
Book Value / Share 0.25 Trailing Twelve Months Ending 2020-12
Price to Book Value 181.94 Calculated using Price: 46.25
Dividend Yield 0.00 Period Ending 2020-03
No. of Shares Subscribed 3.75 Cr. 37,542,750 Shares
FaceValue 2
Company Profile

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 Ltd”. (MML) under ownership of the Sirur family.

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.

Modern’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, MIAL’s endeavor is to provide quality products from these nations to the rest of the world.

Business area of the company:

  • Real Estate- MIL has a real estate & infrastructure development division which has developed 3.68 lakh sq. ft. of prime property in Mumbai. Projects include a 40 storey residential tower called Belvedere Court and a business center called Modern Center. At present MIL has a total land bank of 18.94 lakh sq. ft. in Mumbai and its surrounding areas of which the company is planning to develop 14.75 lakh sq ft. of property from its land bank.
  • Jewellery- Modern India Ltd. entered the field of professional education by collaborating with the California Institute of Jewellery Training and launched the Indian Institute of Jewellery(IIJ) as its Promoter and Infrastructure Developer. MIL entered into an agreement with Gemvision for the supply of their Gem vision's Revo 540 Milling Machine, SystemSix Camera System and Matrix & Digital Software. MIL is also marketing in the Indian market.
  • Textile- In order to meet its clients needs, MIL has set up an overseas subsidiary vis a vis “Modern International Asia Ltd” (MIAL) which has its base in Hong Kong. MIAL out-sources its requirements from The Peoples Republic of China and Hong Kong. This is purely a B2B segment activity, where MIAL delivers fully customized solutions as per the needs of their clients.

Subsidiaries: The wholly owned subsidiary of Modern India Limited are-

  • Modern India Property Developers Limited
  • Indian Institute of Jewellery Limited
  • Modern International (Asia) Limited

The associated companies of Modern India Limited are-

  • Shri Rani Sati Investment & Finance Limited
  • Modern Derivatives & Commodities Private Limited
  • Modern International Middle East FZC

Achievements/ recoganization

  • Modern India Limited is ranked amongst the India’s most investor friendly company by Business Today.
  • In 2008, Modern India Limited forayed into free trade warehousing by acquiring upto 300 acres of land in Panvel.
  • In 2008, the company planned to establish a five-star hotel in Udaipur and a special economic zone (SEZ) in other parts of the Rajasthan by investing about Rs.2000 crore.
  • The company is planning to acquire a textile mill in Gujrat or Tamil Nadu.

Recent developments

Modern India has announced that Garware Institute of Career Education and Development, a division of the University of Mumbai, in technical collaboration with the company’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.

Delivery View Details

Delivered Qty
Traded Qty

Performance View Details

1 Day
1 Week
1 Month
3 Month
-0.54%
6 Month
+11.99%
1 Year
-3.44%
2 Year
-34.81%
5 Year
+23.01%
9 years 2012-03 2013-03 2014-03 2015-03 2016-03 2017-03 2018-03 2019-03 2020-03
Return on Equity (%) 0.66 10.49 8.23 -5.11 0.30 -7.54 -17.25 -22.19 -227.29
Return on Capital Employed (%) 4.11 10.75 8.58 -2.71 5.95 1.43 6.27 -1.19 -47.94
Return on Assets (%) 0.20 3.09 2.69 -1.72 0.09 -2.38 -3.59 -2.69 -11.61

Balance Sheet View Details

Particulars 9 years 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr.
Shh. Funds 46 48 50 47 46 43 27 21 -2
Non Curr. Liab. 51 59 67 57 84 72 146 143 146
Curr. Liab. 64 51 26 42 19 16 32 29 35
Minority Int.
Equity & Liab. 161 159 144 146 149 131 205 193 179
Non Curr. Assets 57 59 89 104 99 96 135 135 129
Curr. Assets 104 100 55 42 49 36 70 58 49
Misc. Exp. not W/O
Total Assets 161 159 144 146 149 131 205 193 179

Profit Loss View Details

Particulars 9 years 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr.
Net Sales 297 448 153 56 81 57 72 77 45
Other Income 7 7 7 8 15 9 18 15 16
Total Income 304 455 160 64 95 66 90 91 60
Total Expenditure -293 -443 -153 -65 -87 -62 -85 -88 -66
PBIDT 11 12 7 -1 8 4 5 3 -6
Interest -4 -3 -2 -2 -4 -6 -11 -8 -14
Depreciation -2 -2 -2 -2 -4 -3 -3 -3 -4
Taxation 1 -1 0 2 0 2 2 3 2
Exceptional Items -6 -2 1 0
PAT 0 5 4 -2 0 -3 -6 -5 -22

Cash Flow View Details

Particulars 9 years 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr.
Cash Fr. Operatn. -29 7 32 -5 -15 4 74 -15 -14
Cash Fr. Inv. 0 4 -11 -8 17 2 -70 16 9
Cash Fr. Finan. 14 -8 -22 12 -3 -11 -3 0 -3
Net Change -14 3 -1 -1 0 -5 2 1 -8
Cash & Cash Eqvt 1 4 1 0 0 -7 -5 -5 -13

Shareholding Pattern View Details

9 Qtrs 2019-03 (%) 2019-06 (%) 2019-09 (%) 2019-12 (%) 2020-03 (%) 2020-06 (%) 2020-09 (%) 2020-12 (%) 2021-03 (%)
Promoter 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
Public 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00
Depository Receipts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Promoter Holding Pledge (%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Announcements View Details

Wed, 09 Jun 2021
Post Delisting Exit Offer Letter Along With Exit Application Form & SH-4
Please find attached herewith the Post Delisting Exit Offer Letter along with the Exit Application and SH 4 for your record and reference.

Thanking you & assuring you of our best co-operation at all times.
Wed, 02 Jun 2021
Announcement under Regulation 30 (LODR)-Newspaper Publication
Please find attached herewith the newspaper clippings of Delisting Public Announcement issued by Modern India Limited (referred asthe Company) and Exit offer Public Announcement issued by Shree Rani Sati Investment & Finance Private Limited Sarat Leasing & Finance Private Limited and F. Pudumjee Investment Company Private Limited entities belonging to the Promoter Group (referred collectively as the "Promoters/ Acquirers") published in Financial Express(English) Jansatta (Hindi) and Navshakti( Marathi) on June 2nd 2021 for your record and reference.
Tue, 11 May 2021
Disclosures under Reg. 10(6) of SEBI (SAST) Regulations 2011
The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations 2011 for Shree Rani Sati Investment & Finance Pvt Ltd & Others

Technical Scans View Details

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