Standard Industries (SIL) was founded 104 years ago as Standard Mills Company in Jan.'92 by J Davidsarson. In 1932 the management was taken over by the Mafatlals and since 1979 it is a constituent of the Stanrose group. It is currently managed by chairman R N Mafatlal. In Aug.'94 the company came out with a rights issue of 1.12 cr equity shares at a premium of Rs 50 per share aggregating Rs 67.42 cr to fully finance the modernisation programme and to repay/prepay high cost borrowings. SIL at present has 3 divisions - textiles chemicals and apparels. The textiles division manufactures yarn unprocessed and processed cloth etc. The chemicals division manufactures a range of organic and inorganic chemicals such as caustic soda chlorine hydrochloric acid ethyl chloride etc. The apparels division manufactures readymade garments and fusible interlining fabric. The company exports to Europe US Germany the Gulf etc. Standard Salt Works is a subsidiary of SIL which supplies to the chemical division. Recently the company also co-promoted a new company Mafatlal Lubricants along with Motul France for manufacturing and marketing lubricating oil.During 1999-2000 two textile units at Prabhadevi and Sewree were ISO-9002 certified for the International Quality System by M/s SGS Yarsley International Certification Services Ltd. The company was re-certified for ISO 9002 System by BVQI.The company is in process of ratiionalization and integration of its textile activities at different locations. In 2000-2001 the company introduced VRS to its textile mill workers.The performance of Chemical Division performed well and the markets for Caustic Soda and Chlorine was affected due to stiff competition among local producers.During the year the company had commissioned Captive Power Plant for four stroke engines.