Ludlow Jute & Specialities Ltd

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86.00-0.31 (-0.36%)

04:01 PM,27th Feb 2024

BSE : 526179


Sector : Industrials

ISIN Code : INE983C01015

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Last Updated: Feb 27 2024 | 04:01 PM IST

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Ludlow Jute & Specialities Ltd

Ludlow Jute Mills was founded in 1921 by the Ludlow Corp. of Ludlow Massachusetts United States. In 1977 it was acquired by the Kanoria family and was engaged in development of jute products and the jute industry in India. Ludlow Jute & Specialities Ltd (Formerly incorporated as Aekta Ltd) was a a wholly-owned subsidiary of Kanoria Chemicals & Industries. The name of the Company was changed from 'Aekta Limited' to 'Ludlow Jute & Specialities Limited effective May 22 2008. Ludlow has developed products like Jute Mesh/Scrim for Roofing Felt Agriculture Horticulture and Webbing for Furniture Industry Rubber Bonded jute cloth for Landscaping special fabrics for Furnishing and Apparel Soil Saver known as Geo-textile and Carpet-backing Cloth.The Company established in December 1979 is into manufacture of jute yarn webbing geo-textile poly-jute bags hessian etc. The Company which commenced activities in Jan 1980 got transferred the Ludlow Jute mill from Kanoria Chemcials & Inds Ltd(KCIL). The Ludlow Jute Mill set up under American ownership in 1921 was acquired by KCIL ion 1977. The company upgraded Ludlow Jute Mill through various modernisation schemes sanctioned by financial institutions. The first phase (cost: Rs 5.20 cr) was completed in Jun.'92 and the second in 1993-94. The cotton yarn unit at Gurgaon Haryana has 17020 spindles and 576 rotors. Aekta strengthened its technological base through modernisation and introduction of new products. It invested in specialised equipment including circular looms automatic looms new-technology spinning frames and other specialised equipment. It has obtained the ISO 9002 certification for its jute division and is the first mill to have obtained this quality mark for all its products. The scheme of arrangement between Ludlow Securities and the company earlier filed in the court was withdrawn by the company and now a fresh scheme of arrangement is being submitted to the Hon'ble High Court of Calcutta.The company as part of its restructuring plant has transferred 'Sijberia Division' to its wholly owned subsidiary Ludlow Securities Ltd operative from Oct 10 2003.The Scheme of Arrangement between the Company and its 100% subsidiary Ludlow Securities Limited became effective from 01.04.2002. Further in terms of the Scheme of Arrangement the Shareholders of the Company have been allotted shares of M/s. Sijberia Industries Limited in the ratio of 1:10. As a result Ludlow Securities Limited the name of which changed to Sijberia Industries Limited ceased to be a subsidiary of Company with effect from 8th March 2004.

Ludlow Jute & Specialities Ltd - Key Fundamentals

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Face Value (₹) 10
Latest Dividend (%)15.00
Latest Dividend Date 04 Sep 2023
Dividend Yield (%) 1.74
Book Value Share (₹) [S]159.83
P/B Ratio (₹) [S]0.54
[*C] Consolidated [*S] Standalone

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Share Price Returns

1 Week-3.13%%0.050.01%
1 Month-7.44%%3.393.96%
3 Month5.82%%10.8012.14%
6 Month4.81%%12.6515.22%
1 Year3.86%%23.2927.63%
3 Year8.45%%48.8752.78%

Company Info

Company Information

Chairman & Non Executive Dir. : Rajya Vardhan Kanoria

Non-Exec. & Independent Dir. : J K Bhagat

Non-Exec. & Independent Dir. : Satish Kapur

Non-Exec. & Independent Dir. : Nayantara Palchoudhuri

Non-Exec. & Independent Dir. : BHARAT KUMAR JALAN

Non-Exec. & Independent Dir. : Manoj Mohanka

Executive Director & MD : Ashish Chandrakant Agrawal

Company Secretary : Pratibha Jaiswal

Registered Office: KCI Plaza 4th Floor, 23C Ashutosh Choudhury Avenue,Kolkata,West Bengal-700019 Ph: 91-033-40506300/6330