BSE:513723 | IND:Granites/Marbles | ISIN code:INE464C01024 | SECT:Mining
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The Company History page lists out the major events in chronological order for HG Industries Ltd.
Company History - HG Industries Ltd. | ||
YEAR EVENTS 1987 - The Company was incorporated as a Private Limited company on 11th December, at Chennai. It was promoted by M/s. M.P. Valusami, M. Vijan, M.P. Balkrishnan, S. Susindran and R. Gunasekaran. On 11th September 1991, S.P. Mittal and R. Mittal took over the management of the Company. The company was converted into a public limited company on 28th February 1994 and a new Certificate of Incorporation was obtained on 21st March 1994. - The company had set up a 100% Export Oriented Unit for manufacture of processed granite monuments with an installed capacity of 9,000 sq. mtrs. per annum at village Panchalam, Chennai. The main object of the company is to manufacture granite monuments, Tomb Stone and Memorials. 1994 - The company proposed to expand the installed capacity of polished granite monuments to 12,000 sq. mtrs. per annum at an estimated cost of Rs. 60.75 lakhs. - During December the company offered 10,00,000 No. of equity shares of Rs. 10 each at a premium of Rs. 20 per share of which 1,00,000 shares were offered to promoters, directors, their friends and relatives, 50,000 shares were offered to IRBI, 50,000 shares offered to Kothari Pioneer Mutual Fund and the balance 8,00,000 shares were offered to the public. All were taken up. - Subject to necessary approvals being obtained the Company proposed to change the name to `HGL Industries Ltd.' to reflect its diversified nature of its operation and popularity of abbreviated name. - 20,05,000 shares were held by promoters. 1995 - During the company proposed to diversify its activities into leather goods manufacturing. 1996 - Sale of monuments badly affected due to steep all in the rates of German Marks. Production was also affected to some extent due to on going expansion work at the factory. 2004 -Company has recommended a final dividend @ 4%. 2007 -Himalaya Granites Ltd has informed that the term of Mr. Shiv Prakash Mittal as a Managing Director & CEO of the Company has expired on May 31, 2007 and he will continue as a Non executive Chairman of the Company. -Company has created an E-mail ID [email protected] 2010 -Registered Office of the Company has been shifted from from "New No. 29, Old No. 12, No. 3-B, Riaz Garden, Kodambakkam High Road, Nungambakkam, Chennai, Tamilnadu - 600034" to "Panchalam Village, Melpettai Post, Tindivanam, Tamilnadu - 604307" 2012 -Company has re-appointment of Mr. Ramesh Kumar Haritwal as Managing Director & CEO of the Company. |
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