MPIL Corporation Share Price

Mather & Platt (India), a member of Manu Chabria's Jumbo Group was originally promoted jointly by Mather & Platt, UK, and Greaves Cotton in Aug.'59 to set up a manufacturing facility to produce calenderbowls for the textilie industry. Later it expanded its business operations and became one of the major player in the process machinery manufacturing in India. It has also into manufacturing of pumps(centrifugal) and Fire protection Installations. To give more focus on each of this three areas of business the company has demerged the pumps division and fire protection installation division into separate companies under the name of Mather & Platt Pumps Ltd and Mater & Platt Fire Systems Ltd. respectively. The Scheme was also duly approved by the H'ble High Court of Mumbai. After this demerger the company has became a fully process machinery manufacturers and it mainly caters to Textile industry and food processing industry. It's product offering includes textile finishing machinery, sizing machinery, stenter clips, Calender Bowls, Calender Machines and food processing & canning machinery. The company originally promoted as a private limited company turned public subsequent to it's maiden public offer made in April 1961. In June 1978, Greaves Cotton transferred its entire shareholding of 40% in the company to Mather & Platt, UK. Subsequent to this development Mather & Platt, UK has transferred and vested all its other business interests in India to Mather & Platt (India) Ltd. Again in June 1979, the company was converted as a public limited company. To reduce the foreign shareholding in the company to 40% MPIL went public again in March 1990. During the year 1995-96, various new products were introduced like lime oil extraction plant, chilli processing, mushroom processing, canning etc. The company is keep expanding the product offerings and it has increased the installed capacity of centrifugal pumps to 3079 nos. in 1998-99 and it have also entered into an technical collaboration with Boop & Reuther, Germany for manufacturing Valves at par with the international standards.