DCM Textiles, formerly known as Delhi Cloth & General Mills, founded in 1889 by Lala Chunnamal, Master Shiv Pershad and Rai Bahadur Ram Kishen Das Gurwale, is an Indian conglomerate which was initially a textile business which opened its first mill in Delhi. Starting from late 1980s and early 1990s, as a result of legal and financial challenges the company was split into several industry segments under the DCM and DCM Shriram Group branding, (not to be confused with
Shriram Group
Shriram Group is an Indian Conglomerate (company), conglomerate headquartered in Chennai. It was founded on 5 April 1974 by R. Thyagarajan (industrialist), R. Thyagarajan, AVS Raja and T. Jayaraman. The group had its beginning in chit funds bus ...
), and diversified in to automotive, bioseeds, cement, chemicals, farms, fertilizers, pvc, sugar, textiles, windows and door, yarns, etc. Some of its entities are DCM Textiles Co at Hisar, DCM Sri Ram Mills, Fenesta, etc.DCM Shriram Mills ''dcmshriram.com''.
History
The founders
Lala Chunnamal, Master Shiv Pershad and Rai Bahadur Ram Kishen Das Gurwale founded the company in 1889 and its first factory, located in Delhi, took two years to build. The company prospered through 1907 and in 1909 Sir Shri Ram joined the company as an assistant to his father during a period of decline. Under Ram's guidance the company regained a prosperous pace. The company went through a significant financial crisis in 1917 but recovered after it received a large contract from the British Army at the time of the First World War. The mill was engaged primarily in the cotton and sugar trades and became one of the top mills in northern India. The company opened a second cloth mill and two sugar mills in 1925. It launched DCM Chemical Works in 1941 and Daurala Distillery in 1942. In 1946 it began manufacturing
vanaspati
Vanaspati (Devanagari: ) is the Sanskrit word that now refers to the entire plant kingdom. However, according to '' Charaka SamhitÄ'' and '' Sushruta Samhita'' medical texts and the '' Vaisesikas'' school of philosophy, "vanaspati" is limited ...
.
Expansion in 1960s
Over time the company expanded and had many subsidiaries including Usha International, Bengal Potteries, Jay Engineering Works and Shri Ram Fertilizers. In 1964 the Chairman of the Board of Directors, Bharat Ram, addressed the 76th annual meeting of shareholders.
Fending off hostile takeover in 1980s
In the 1980s the company name was changed to DCM Ltd and it successfully defended a hostile takeover by a UK-based investor. As the eventual result of the failed takeover, DCM was split into four distinct companies in 1990. The four companies were: DCM, DCM Shriram Industries, Shriram Industrial Enterprises and DCM Shriram Consolidated. In 1999 there was further splintering of the company into two additional parts.
Diversification in 1990s
In 1995, DCM's 1983 partnership with
Toyota Motors
is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on August 28, 1937. Toyota is the largest automobile manufacturer in the world, producing ...
came to an end. DCM then entered a partnership with the Korean automotive company,
Daewoo Motors
Daewoo Motors ( ) was a South Korean Automotive industry, automotive company established in 1937 as "National Motors". The company changed its name several times until 1982 when it became "Daewoo Motors" following its acquisition by the Daewoo, ...
, which ended in 2001 after Daewoo Motors went bankrupt. During the latter 1990s Delhi Cloth & General Mills had a series of financial defaults and lawsuits. The company's 116 year old manufacturing facility was torn down to make new commercial and residential buildings. The razing was the result of a 1989 Supreme Court decision which drove factories out of the city of Delhi and the mill was moved to Hisar.
Group companies
DCM Textile, Hisar
DCM Textile, Hisar, founded in 1991 the original 1889
textile mill
Textile manufacturing or textile engineering is a major industry. It is largely based on the conversion of fibre into yarn, then yarn into fabric. These are then dyed or printed, fabricated into cloth which is then converted into useful good ...
at Delhi was shut down on the orders of Supreme Court in 1989 and listed on BSE and
NSE NSE may refer to:
Stock exchanges
* Nagoya Stock Exchange, Japan
* Nairobi Stock Exchange, Kenya
* Nigerian Stock Exchange, Lagos
* National Stock Exchange of India (NSE), Mumbai, India
* National Stock Exchange, the former name of Vilnius Sto ...
Hisar
Hissar () means fort or castle in Arabic, with variants adopted into Persian (hesar, hessar) and Turkish (hisar).
Hissar, Hisar and Hesar may refer to:
Places Asia (South and Central) India
*Hisar (city), a city in Haryana
**Hisar Airport in Hi ...
city of
Haryana
Haryana () is a States and union territories of India, state located in the northern part of India. It was carved out after the linguistic reorganisation of Punjab, India, Punjab on 1 November 1966. It is ranked 21st in terms of area, with les ...
state. Spread across with residential campus and officers club, it was set up initially with 33000 spindles, it achieved several milestones, such as ISO 9001 certification (1995), expansion to 45000 total spindles (1998), expansion to 76200 total spindles (2005), expansion to 115000 total spindles (2014), launching of 100% premium cotton yarn brand ''Primero'' (2015), launching of 100% superior cotton yarn brand ''Dinero'' (2016) and BCI cotton yarn (2016). It is operating as one of the leading manufacturer and exporter of 100% cotton carded and combed yarns, with a monthly capacity of 1,15,000 spindle producing 2500 MT of cotton yarn with an annual turnover of . In addition to its Hisar mill, it has 17 sales offices across India, with exports to at least 11 nations (c. 2017). Its Executive chairman and president are "Dr. Vinay Bharat Ram" (alumnus of Delhi University (PhD), Michigan (Ann Arbor) university and Harvard university) and "Hemant Bharat Ram" (alumnus of Carnegie Mellon University with bachelor's degree in Mathematics and Computer Science, and master's degree in Industrial Administration), who both are descendants of the founder's family through Lala Shri Ram and Dr. Bharat Ram's lineage."DCM Limited Annual Report"
The Economic Times
''The Economic Times'' is an Indian English-language business-focused daily newspaper. Owned by The Times Group, ''The Economic Times'' began publication in 1961 and it is sold in all major cities in India. As of 2012, it is the world's secon ...