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Avon Corporation Ltd. Company History and Annual Growth Details

The Company was incorporated as a Private Ltd. company on 04/03/1999 under
the name and style of Avon Weighing Systems Pvt. Ltd. with Registrar of Companies,
Maharashtra, Mumbai. The main objects of the Company in brief were to

1) to acquire the business of Avon Enterprises and

2) to carry on the business of manufacturing, assembling all kinds of weighing
instruments etc.

Avon Enterprises, a partnership firm was promoted by a young, first-generation
entrepreneur, Mr. Pankaj Saraiya, in the year of 1995. During its first year of operations
Avon Enterprises was engaged in the dealership of Sartorius (Germany) range of
weighing balances mainly used in Diamond industries. Sartorius is one of the largest
manufacturers of various kind of electronic weighing balances/systems in the world.
In the beginning of 1996, A&D Company Japan (A&D), one of the major weighing
systems producer in the world, appointed Avon Enterprises as its Indian distributor.

The company entered into Deed of Declaration of Assignment of Business on
31 /03 /1999 with Shri Pankaj P. Saraiya and Smt. Shantaben P. Saraiya both
carrying on business in partnership in the name and style of M/s Avon Enterprises.
Pursuant to the above assignment the Company therein has become
the sole owner of the entire business of Avon Enterprises.

The Company was converted into public limited company on 25/04/2004 with the
name Avon Weighing Systems Ltd. The Registered office of the company is situated
at 15/B, 2nd Floor, Kamal Kunj, S.V. Road, Irla Bridge, Andheri (W), Mumbai - 400 058

Since then Avon has grown from strength to strength. From a turnover of Rs. 26 lakhs
in 2000, Avon has achieved a turnover of Rs.3910.49 lacs - during the year ended
31/03/2007.

2008

-Avon Weighing Systems Ltd is entering the capital market on June 9, 2008 with a public issue of 1,37,33,033 equity shares of Rs10 each. The issue compromises promoters contribution of 38,96,633 shares. Therefore the net offer to the public is 98,36,400 shares.

-Company name has been changed from Avon Weighing Systems Ltd to Avon Corporation Ltd.
 
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