|1989 - The company was incorporated on 7th July as a public limited
company at Calcutta and obtained the Certificate for
Commencement of Business on 31st August.
1990 - The company took over M/s. Associated Distilleries, a
partnership firm from April. The company was promoted
by B. P. Kedia and Anand Kumar Kedia.
- The Company was engaged in the manufacture of potable alcohol
with an installed capacity of 270 LLPA (Lakh Proof litres per
annum) at Madhya Pradesh. Presently manufacturing all kinds of
potable liquor and blended liquor. The company is also the
leading supplier of country liquor to the Government of Madhya
Pradesh. The company manufactures and sells Rectified spirit and
Extra Neutral Alcohol in loose form to other manufacturers in the
country. The company proposed to increase the production of ENA
and IMFL to 86.4 LLPA and 9.5 lakh cases respectively.
1993 - 3277400 shares were held by promoters.
1994 - 32,62,200 shares issued through prospectus.
- The company offered 32,57,500 equity shares of Rs. 10 each at a
premium in December as stated below. Of which 9,27,500 equity
shares (prem. Rs 20 per share) were offered to the promoters (All
were taken up) 43,500 equity shares (prem. Rs 30) were offered to
GIC Asset Management Co. Ltd. (All were taken up) 43,500 shares
(prem. Rs 30) were offered to ICICI Asset Management Co. Ltd.
(All were taken up) 5,59,200 equity shares (prem. Rs 30) were
offered to NRIs, Overseas Corporate Bodies (only 4,03,200
promoters). 50,000 shares (prem. Rs 20) were offered to the
employees. (All were taken up) 16,33,800 equity shares (prem.
Rs 20) were offered to public. (All were taken up. Additional
4,700 shares allotted).
- The turnover amounted to Rs 36.76 crores as against Rs 19.27
crores in the previous year despite disturbances in production
necessitated due to expansion cum modernisation programme
1995 - The turnover amounted to Rs 34.92 crores. Profitability was
affected due to reduction in sale price of products and increase
in input cost.
- The company undertook modernisation of Distillery unit by
installation of 50,000 LPD distillation plant alongwith utilities
and Effluent Treament Plant.
1996 - The installation of 50,000 LPD distillation plant was
1996 - The turnover, increased to Rs 39.85 crore. The overall
peformance of the company was affected due to higher finance cost
and additional burden of taxation despite reduction in production
cost and other overheads.
1997 - The turnover rose to Rs 42.79 crores. Performance of the company
was satisfactory. Exports were affected due to adverse
international market conditions.
- The company undertook set up an integrated distillery Complex in
Rajasthan at an estimated cost of Rs 2012 lakhs.