Home  »  Company  »  Aditya Birla Nuvo Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Aditya Birla Nuvo Ltd. Company History and Annual Growth Details

1956

- The company was incorporated on 26th September, 1956. Formerly the
Company was Known as Indian Rayon Corporation Limited. The Company
manufacture viscose rayon yarn and fabrics, chemical products,
reinforced rubberlined products, high and low tension insulators and
bushings and Portland Cement.

1958

- The Company entered into an agreement with Von Kohorn International
Corporation, Von Kohorn International (London), Ltd., and Von Kohorn
Eastern Corporation, Ltd., who agreed to design and supply from U.S.A.
and U.K. the entire plant and machinery for the Company's rayon
factory.

- They also agreed to supervise the erection and installation as well
as the commissioning of the plant. Von Kohorn International
Corporation also agreed to invest jointly with the Financial
Development Fund Inc., U.S.A. a sum of U.S. $8,25,000 in the equity
capital of the Company.

1975

- Controlled percolation hoses were manufactured in collaboration with
George August & Co., Ltd., U.K.

- A collaboration agreement was signed with Ceramconsult Langenthal,
Ltd., Switzerland for manufacture of Long Red insulators and high
alumina bodies.

1976

- Jay Shree Textiles & Industries, Ltd. was amalgamated with the
Company with effect from 1st January.

1977

- The new synthetic spinning unit, acquired with the amalgamation of
Jay Shree Textiles & Industries, Ltd. with the Company, was partially
commissioned during the year.

1978

- Phillippines Govt. gave a licence to the Company to set up a unit in
that country for the manufacture of 3,000 tonnes of insulators per
annum.

1979

- The Company received a letter of intent to set up a new industrial
undertaking for the manufacture of 6,000 tonnes per annum of
sophisticated insulators at Halol in Gujarat State.

- The Company executed a technical collaboration agreement with Doulton
Insulators Ltd., of U.K., for new range of products for 400 KV
transmission line and sub-station insulators and for improving the
quality of present range of products.

1980

- Equity shares subdivided on 1.12.1980. 15,370 - 'D' Pref. shares
redeemed.

1981

- The Company issued 10,00,000-12% secured debentures of Rs 100 each.
Out of this, 25,000 debentures were reserved for subscription by the
employees, directors and business associates of the Company and
4,25,000 debentures were offered to resident equity shareholders in the
proportion of 1 deb.: 10 equity shares. The balance of 5,50,000
debentures were offered for public subscription during March 1981.

- During September, the Company offered for public subscription
5,00,000-13 1/2% Secured debentures of Rs 100 each with 1% additional
interest per annum when the dividend on equity shares exceeds 14% for
the immediate preceding year with appropriate adjustment for any future
bonus issue of shares. These debentures are redeemable in 4 equal
annual instalments on the commencement of the 8th, 9th, 10th and 11th
years from the date of allotment of debentures.

- During September, Vokin Holdings Inc. U.S.A. offered for sale
1,16,250 No. of equity shares of Rs 10 each of the Company to the
existing resident Indian shareholders and Indian employees of the
Company at a premium of Rs 30 per share.

- 1054, 'C' Pref. shares redeemed. Dividend on 22,635 'C' Pref.
shares increased from 11% to 13.5% with effect from 1.7.1982. On
1.7.1982, 9,86,779 No. of equity shares issued (prem. Rs 10 per share)
to V series debenture holders. 15,00,000 more equity shares (prem. Rs
18 per share) issued to VII series debentures holders.

1982

- The Company revalued the assets of all the units (except Halol Unit)
as on 1st July. The net surplus of Rs 28,24,15,415 arising out of this
was credited to revaluation reserve.

1983

- The Company received a letter of intent to set up a plant to
manufacture 80,000 tonnes of white cement per annum.

- A technical collaboration agreement with the Onuda Engineering &
Consulting Co., Ltd., of Japan was approved by Government. The plant
was commissioned in March 1988. The product 'Birla White' was well
received in the market.

- The Company set up a carbon black plant at Remikoot in Mirzapur
district of Uttar Pradesh with an installed capacity of 20,000 tpa.

- The Company issued 15,00,000-13 1/2% 7th Series debentures of Rs 140
each; 9,25,000 debentures as rights to resident equity shareholders in
the proportion 5 debentures for every 40 equity shares or part thereof
held; 2,25,000 debentures on a preferential basis to the Company's
employees, directors, etc. and 3,50,000 debentures to the public.

- Each debenture of Rs 140 has part 'A' Rs 28 and Part B of Rs 122.
Part 'A' of each debentures shall be redeemed on 30th June, and older
thereof shall be allotted one equity share of Rs 10 each of the Company
at a premium of Rs 18 per share.

- Part 'B' of the debentures shall be redeemed at par in 5 equal annual
instalments at the end of the 8th, 9th, 10th, 11th and 12th year from
the date of allotment.

- The Company issued 8,00,000-15% eighth series secured debentures of
Rs 100 each aggregating Rs 8 crores on a 'Rights basis' for augmenting
long-term resources for working capital.

- For financing the rupee cost of the two diesel generating sets
installed at the cement plant, 10,000 - 15% ninth series secured
debentures of Rs 1000 each aggregating to Rs 1 crore were issued to
Unit Trust of India on private placement basis.

- 6,165 No. of equity shares issued (Prem. Rs 10 per share) to holders
of Vth series debentures upon part conversion.

1985

- Veraval Properties, Pvt. Ltd. and Indrayon Properties, Pvt. Ltd.
became the wholly owned subsidiaries of the Company.

1986

- New products such as flame retardent fabrics, oil/chemical resistant
fire hoses and rove boiled flax yarn were developed.

- The Company undertook to set up a ceramic unit to manufacture 10,000
tonnes per annum of sanitaryware and 12,000 tonnes per annum of wall
tiles in Uttar Pradesh.

- The sanitaryware project was proposed to be set up in technical
collaboration with Villeroy and Boch of the Federal Republic of West
Germany and equipment for the wall tiles project were to be supplied by
SITI of Italy.

- For the manufacture of sanitarywares the Company was to incorporate
the ceramic fibre lined tunnel and shuttle kilns technology.

- A technical collaboration with Felten & Gujillene Energietichnic
GmbH, West Germany was entered into for the manufacture of condensor
bushings, coupling capacitors and instrument transformers.

- Another collaboration with Asea Brown Boveri & Co., Ltd. of
Switzerland was finalised for the manufacture of lighting arrestors.

- The Company issued during November 80,00,000-15% - 12th series
secured redeemable non-convertible debentures to the equity
shareholders on a rights basis.

- The company issued during December 77,45,000 - 13.5% - 11th Series
fully convertible debentures of Rs 1000 each as follows: (i) 68,70,000
debentures to the existing equity shareholders on a rights basis in the
proportion of 1 debenture for each equity share held; (ii) 3,75,000
debentures to the employees of the Company and (iii) 5,00,000
debentures to non-resident Indians/persons of Indian origin residing
abroad on repatriation basis. 17,17,500 additional debentures to the
equity shareholders and 1,25,000 additional debentures to the
non-resident Indian were issued to retain over-subscription.

- As per the terms of the issue a portion of Rs 50 out of each
debenture was converted into 1 equity share of Rs 10 each at a premium
of Rs 40 per share on 30th September, 1987, at the first stage of
conversion. The remaining part of Rs 50 was converted in the same
manner as on 1st July, 1988.

1987

- The Company commissioned the expanded worsted rayon project.
Machines like radio frequency drier and auto winding unit with
electronic controls were installed. Fancy doubling machines were also
installed to produce fancy yarn.

- The working of Cotton Spinning division was adversely affected due to
higher cotton price, rise in power tariffs etc. To rationalise the
product-mix the Company proposed to convert existing spindles for
production of high value added synthetic yarn. Also fancy doubling
machines were to be installed for production of fancy yarns.

- Production declined due to strike by workmen for 82 days. By the end
of the year, the Company proposed to instal certain balancing
equipments including a roller press for raw material grinding.

- It was also proposed to instal two additional DG Sets of 5.4 MW each
during the year.

- M/s. CE Europe, Luminus Crest division and Engineers India, Ltd.
were appointed as Consultants for the project.

- As on 1st July, the fixed assets of the Company (except the recently
set up white cement and a carbon black units) were revalued and the net
surplus of Rs 75,55 crores arising out of it was credited to the
Revaluation reserve.

- The name of the Company was changed from The Indian Rayon
Corporation, Ltd. to Indian Rayon and Industries Ltd. with effect from
23rd January.

- 92,66,489 No. of Equity shares issued (prem. Rs 40 per share) on
conversion of 13.5% debentures on 30.9.1987.

1988

- Two 1950 KVA power generating sets were commissioned during the year.

- The working of cotton spinning division continued to be affected due
to high prices of cotton. To ensure its competitive edge over others,
the division was upgrading its technology by adding latest machines
such as Savio auto-coners. Two-for-one twisters, etc.

- A new kiln was commissioned at Halol to meet the growing demand for
the company's product range.

- A Pref. and C Pref. shares redeemed on 30.6.1989. 93,03,035 No. of
equity shares issued (prem. Rs 40 per share) on the second conversion
of 11th Series debentures on 1.7.1988.

1989

- Necessary balancing equipment was being installed for producing finer
denier yarn in view of the increasing demand.

- Operating results of the flax division were however adversely
affected by the steep hike in the cost of major inputs coupled with
sharp deterioration in the supply of power. One more diesel generating
set of 1000 KVA was being installed.

- Additional 2,592 spindles and other balancing equipment were
installed to improve flexibility in product-mix and meet the changing
demand patterns.

- The Company proposed to expand the capacity to 9 million TPA from 3
million TPA received Government approval.

- The foreign collaboration agreement with AKZO Fibres & Polymers -
Enka International b. v. of Netherlands was approved by Govt.
Necessary steps were being taken to implement the project.

- The Company is a co-promoters of the Bina Power Supply Co., Ltd., &
Rosa Power Supply Co., Ltd., to be set up as two separate joint
ventures with Powergen of U.K. Bina Power Supply Co. Ltd. was to be set
up at M.P. and Rosa Power Supply Co., Ltd. at U.P.

- The Birla Capital International AMC Ltd. was set up as an asset
management Company jointly with Capital Group International, USA.

- Birla Telecom Ltd. was set up an collaboration with AT & T for
bidding for basic telephone services & Birla Communications Ltd. with
McCaw Cellular Communications Inc., for bidding cellular mobile
services.

1990

- A superior quality cement under the brand name 'BIRLA SUPER' was
introduced, initially, in Karnataka and the market response was
reported to be good.

- The lightning arrestors project was commissioned during the year and
the unit undertook to execute an order for 400 KV transmission line for
the National Thermal Power Corporation.

- The company undertook a modernisation programme to improve the
quality and enlarge the product range.

1991

- A fire mishap in the dryer plant in May, caused disruption in
production for a period of ten days. To tide over power shortage, a DG
set of 2270 KVA was installed.

- The Spinning and Weaving division undertook to further modernise
apart from expanding its installed capacity for worsted yarn by 2,400
spindles.

- The Company proposed to convert the Halol factory into a
manufacturing unit exclusively for exports.

- All steps were taken to set up a project for the manufacture of
50,000 tonnes of high purity refractory grade magnesia from sea water
near Visakhapatnam, A.P.

- A collaboration agreement for transfer of technology with
Refractories consulting and Engineering GmbH, Austria, was signed for
the same.

1992

- A diesel generating set of 2270 KVA was commissioned. The Company
undertook further investments in installation of balancing equipment as
well as equipment for upgradation of quality.

- Two additional CS2 furnaces were commissioned to increase the
carbon-di-sulphide capacity from 6000 TPA to 10,000 TPA. It was
proposed to instal 10 contravan spinning machines at an estimated cost
of Rs 36 crores.

- The installed capacity of worsted yarn was increased by 1200
spindles. Capacity was being further increased through installation of
24 sophisticated looms.

- It was proposed to implement modernisation programme involving a
capital outlay of Rs 6 crores.

- However, Government permitted to expand the capacity to 40,000 tpa
and the Company was obtaining necessary clearances for the import of
capital goods.

1993

- During September, the Company issued 51,88,000-zero interest fully
convertible debentures of Rs 170 each on rights basis in the proportion
of 1 debenture: 5 equity shares held. Only 50,48,203 debentures taken
up.

- Another 2,59,400 - zero interest fully convertible debentures of Rs
170 each were offered to the employees. Only 2,55,314 debentures taken
up. Simultaneously, the company offered 16,20,000-zero interest fully
convertible debentures of Rs 200 each to Group companies. All were
taken up.

- Each debentures issued to shareholders and employees was to be
converted into 1 equity share of Rs 10 each at a premium of Rs 160 per
share on 1st April, 1994. Each debenture for the Group companies was
to be converted into 1 equity share of Rs 10 each at a premium of Rs
190 per share on 1st April, 1994.

1994

- The working in the Rishra Insulator plant suffered loss on account of
a five months strike.

- Work was underway to increase the capacity of Halol plant from 6,000
TPA to 10,000 TPA and subsequent to which combined capacity of the two
plants would be 30,000 TPA.

- The Cement grinding and packing facilities of new plant of 1.2
million tonnes capacity at the existing location was commissioned and
the remaining sections were to be commissioned by June 1995.

- The split grinding unit of 1.2 million tonnes capacity being set up
at Sholapur in Maharashtra was to be commissioned in June 1995.

- The Company proposed to set up a 400 TPA capacity fibre glass plant
at an estimated capital outlay of Rs 109 crores to be located in the
Alwar district of Rajasthan.

- During January, the Company offered 55,53,087 GDRs represent
55,53,087 at a price of US $ 22.51 per GDR. These equity shares were
allotted in January 1994.

- The Company issued 72,27,400 - 16.5% fifteenth series non-convertible
debentures of Rs 300 each with detachable warrants: (i) 51,88,000
debentures on rights basis in the proportion of 1 debenture: 5 equity
shares held (only 50,48,198 debentures taken up); (ii) 2,59,400
debentures to employees (only 2,55,314 debentures taken up); and (iii)
17,80,000 debentures to Group companies (all were taken up).

- UTI had agreed to buy the debentures upto Rs 135 crores. The Company
had made arrangements with Birla Growth Fund Ltd. for handling the sale
of the debentures. Each debentures of Rs 300 could be offered for sale
at a price of Rs 275 per debenture, at a current yield of 18%. Each
debentures would be redeemed at par in three equal instalments of Rs
100 each at the end of 7th, 8th and 9th year from the date of
allotment.

1995

- The division undertook to set up 8 continuous spinning machines on
parallel yarn at an estimated cost of Rs 36 crores.

- The working of the Cotton Spinning Division was affected by strike
between mid February 1996 to mid May 1996. This in turn affected the
modernisation work also.

- The Halol Unit had undertaken substantial expansion and two new kilns
were set up. Negotiations were on with Overseas companies
manufacturing lighting arrestors in India. Negotiation were also
underway for acquiring technology to produce silicon based insulators,
in some applications.

- 1-2 million TPA capacity raw material grinding and clinkerisation
unit was commissioned at Malkhed, Karnataka. Also, a 1-2 million TPA
capacity grinding unit was commissioned.

- 9,085 shares allotted.

1996

- A 16.5 MW Co-generation thermal plant was being set up. An
additional 12 MW captive power plant was to be set up as an extension
to 16.5 MW plant at a cost of Rs 40 crores.

- The Company proposed to add 8 continuous spinning machines on
parallel yarn at an estimated cost of Rs 40 crores.

- The sluggish market conditions and strike at the Cotton Spinning
Division plant between mid February 1996 to mid May 1996 affected the
flax division's working.

- Performance of the division was affected due to labour trouble at
Rishra plants and sluggish market conditions.

- The Company proposed to instal a new carbon black plant of 35,000
tonnes capacity at Gummidipondi, Chennai.

- During the year, plans were finalised to double the capacity from
1,50,000 tonnes p.a. to 3,00,000 tonnes p.a. by installing second line
at the existing location.

- 11,424 shares issued.

1997

- The Company proposed to set up a second power plant of 15 MW
capacity, at a cost of Rs 70 crores to ensure complete self-sufficiency
of stable and uninterrupted power to VFY and caustic soda plants.

- Sea Water Magnesia plant was commissioned with an installed capacity
of 50,000 TPA.

- The Company has made a bonus issue in the ratio of 1:2 to the
existing shareholders of the Company.

- 2,24,94,007 No. of Equity shares of Rs 10 each allotted as fully paid
bonus shares in the prop. 1:2 and 2,980 No. of equity shares allotted
out of abeyance.

- Indian Rayon Industries, the Aditya Birla Group diversified company,
has commissioned its 36,000 tpa caustic soda plant at Veraval in
Gujarat.

- It has singed a Memorandum of Understanding with the Orissa Mining
Corporation for setting up a mega integrated aluminium complex
comprising an alumina refinery of 1 million tonnes per annum capacity
based on the Kadnagamali-Pottangi bauxite deposit in Karaput district
in south Orissa and a greenfield aluminium smelter of 2.5 lakh tpa.

- Indian Rayon & Industries Ltd has proposed to issue bonus shares in
the ratio of one share for every two shares held. Reacting to the
news, the Indian Rayon scrip declined by Rs.10, before closing on
Tuesday at Rs.392.75, as the bonus ratio fell short of market
expectations.

- The company is also setting up a 35,000 tonne carbon black unit to be
commissioned in October 1998. It is already the second largest
installed capacity in the industry after Philips Carbon Black's 78,000
tonne.

- Indian Rayon & Industries Ltd is seriously considering a proposal to
issue bonus shares in the proportion of one new equity share for every
two existing equity shares held.

- Indian Rayon Ltd. an Aditya Birla group company, is setting up a 25
mw captive hydel power project in West Bengal.

- Indian Rayon, an Aditya Birla Group company and one of the leading
players in its field, has become the first private sector firm to raise
Rs.40 crore through private placement of secured redeemable
non-convertible debentures at a coupon rate of 14.25 per cent, payable
half yearly for a five years period.

1998

- Sea Water Magnesia suffered a set back due to substantial dumping
from China leading to poor offtake and huge inventory.

- Indian Rayon & Industries Ltd has commissioned its Greenfield 35,000
MTPA carbon black plant, set up at an investment of Rs 135 crore. With
this plant at Gummidipondi, near Chennai, the Aditya Birla group
company's carbon black capacity stands raised to 95,000 MTPA. The
plant at Renukoot (UP) has a manufacturing capacity of 60,000 MTPA.

- Indian Rayon has temporarily suspended the operations of its Sea
Water Magnesia plant at Visakhapatnam.

- 1,020 shares kept in abeyance is used.

1999

- Indian Rayon Industries Ltd, the flagship company of the Aditya Birla
group, is yet to find buyer for its sea water magnesia project.

- The company, which has an installed capacity of 95,000 tonnes per
annum, is 'strongly' considering the option to hike capacity by another
50,000 tonnes.

2000

- The strike from March 11 by a section of workmen of the viscose
filament rayon plant at Veraval, Gujarat, has been called off from the
night of March 22 and normalcy is being restored.

- ICRA has assigned 'LAAA' rating to the non-convertible debentures
aggregating Rs. 50 crores privately placed by the company with ABN Amro
Securities (I) Pvt. Ltd.

- The Aditya Birla group Company, Indian Rayon and Industries Ltd, will
promote an insurance joint venture with 125 year old Sun Life Financial
of Canada.

- The Company has entered into agreements, with NSDL, CDSL and MCS
Ltd., for dematerialisation.

2001

- The shares department of the company has been accredited with ISO
9002:1994 certification by KPMG.

- Aditya Birla group flagship Indian Rayon will acquire a 50.35 per
cent controlling stake in PSI Data Systems from Groupe Bull, France,
for Rs 71 crore.

2002

- Indian Rayon & Industries Ltd has informed that Mr.Devendra Bhandari
has been appointed as Vice President & Company Secretary of the company
in place of Mr.Mehernosh Kapadia.

-The Board of Directors of Indian Rayon & Industries Ltd on July 24, 2002 approved a scheme to demerge its insulator Division and to form a separate Joint Venture Company with NGK Insulators Ltd of Japan.

-Indian Rayon & Industries Ltd has informed BSE that at a meeting of the Board of Directors of the Company held on August 1, 2002, the Company has decided to sell to ONGC Ltd 41012461 equity shares of Mangalore Refineries & Petrochemicals Ltd at a price of Rs 2/- per share.

2003

- Indian Rayon & Industries Ltd has informed that pursuant to acquisition of equity share capital Transwork Information Services Pvt Ltd (TISPL), the company has become a wholly owned subsidiary of Indian Rayon &Industries Ltd. TISPL has two subsidiary, Transwork IT Services India Pvt Ltd, Bangalore and Transwork Inc (a Delaware Corporation) which have also become subsidiaries of Indian Rayon & Industries Ltd.

-Shri Siddhartha Sen, a Director of the company expired.

-Indian Rayon & Industries Ltd has launched its insulator Joint venture with Japan based
NGK Insulator Ltd, and the JV is named as Birla NGK Insulators Private Ltd.

-ICRA reaffirmed the highest rating of LAAA assigned to various NCD programmes
of Indian Rayon & Industries Ltd amounting to Rs.130crs.

-Indian Rayon is all set for a major spread of its carbon black, insulators and viscose
filament yarn businesses.

-IndianRayon has announced its entry into BPO sector with the acquisition of M/s TrasWorks
Information Services pvt ltd.

-Indian Rayon Industries M/s S R Bartliboi &Co have been appointed as the Joint Statutory
Auditors.

-Indian Rayon Industries has informed that the BOD have co-opted Mr Harsh V Lodha
as the Director of the company.

-Hi-Tech Carbon, a unit of Indian Rayon Industries Ltd of Aditya Birla group has decided
to double its carbon black manufacturing capacity at its plant at Gummidipondi in
Tamil Nadu.

- Delisted from Delhi Stock Exchange wef October 30, 2003.

-Van Heusen launched 'Fundamentals' range of shirts

2004

-Indian Rayon and Industries Ltd has informed that pursuant to approval of the Scheme of Amalgamation by the Hon'ble High Court, Gujarat at Ahmedabad, effective January 7, 2004 M/s Rajnidhi Finance Ltd a subsidiary of M/s Laxminarayan Investment Ltd (subsidiary of the Company) is amalgamated with M/s Laxminarayan Investment Ltd from the Appointed Date i.e. April 1, 2003.

-Indian Rayon signs an agreement with ST Telemedia & TM International to acquire stake in Idea Cellular

-Brownfield expansion of 40,000 tpa completed at Hi- Tech Carbon,Gummidipundi, taking total capacity to 1,60,000 tpa


2005

-Madura Garments revamps export business

-Indian Rayon rechristened as Aditya Birla Nuvo

-Merger of Indo Gulf Fertilisers Limited and Birla Global Finance Limited with the company, effective from 1 September 2005. By virtue of the merger, Birla Sun Life Asset Management and Birla Sun Life Distribution, leading players in high growth Asset Mangement and Wealth Management industry came into the company's fold.

-Increased stake from 4.3 per cent to 20.7 per cent in Idea Cellular Limited, a company in the high growth telecom sector


2006

-Aditya Birla Nuvo Limited has submitted a copy of Abstract of the terms of appointment of Dr. Bharat K Singh as Managing Director, and Mr. Vikram Rao as Whole-time Director u/s. 302 of the Companies Act, 1956 and Performance Update for the half year ended September 30, 2006.

-Increased stake from 20.7 per cent to 35.7 per cent in Idea Cellular Limited

-Acquired Minacs, a leading Canadian BPO company in August 2006

-Insulators JV with NGK terminated mutually in November 2006

-Caustic soda capacity increased by 65 tpd taking total capacity to 225 tpd

-18 mw power plant commissioned in September 2006 in the Rayon division

-The chlor alkali and chlorine derivatives businesses of Aditya Birla Nuvo, Bihar Caustic and Grasim become a single SBU

2007

-Wholly owned subsidiary 'Aditya Birla Insulators Ltd.' merged into Aditya Birla Nuvo w.e.f. 1 April 2007

-Raised Rs. 777 crore through rights issue of equity shares

-Brownfield expansion of 60,000 tpa completed at Hi- Tech Carbon, Gummidipundi, taking total capacity to 2,30,000 tpa


2008

- Aditya Birla Nuvo Ltd has informed that the Board of Directors of the Company at its meeting held on August 04, 2008, inter alia, have appointed Mr. Arun Maira as an Additional Director on the Board of the Company.

-Aditya Birla Nuvo to mop up Rs 4,200cr

2009

- Aditya Birla Nuvo has acquired an additional 20 per cent in Apollo Sindhoori Capital Investments for over Rs 71 crore.

-Aditya Birla acquires 76% in Apollo Sindhoori
 
Subscribe now to get personal finance updates in your inbox!