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Bannari Amman Sugars Ltd. Company History and Annual Growth Details

YEAR EVENTS
1983 - The Company was incorporated on 1st December in Tamil Nadu.
Bannari Amman Sugars (BAS) is engaged in the manufacture of
white crystal sugars, industrial alcohol and granite exports.
The company has two sugar factories, in Tamilnadu and
Karnataka. The distilleries unit is also situated in
Tamilnadu.

- 19,00,000 shares subscribed for by the signatories to the
Memorandum of Association, promoters, their friends and
associates. 18,50,000 shares issued at par of which 10,000
shares were reserved for allotment on a pref. basis to NRIs on a
repatriation basis and 8,50,000 shares (along with the
unsubscribed portion of NRI quota, if any) were offered for
public during September 1985.

1986 - The Company received a letter of intent for the manufacture of
5,400 tonnes per annum of citric acid. The Company was in the
process of identifying proper technology and technical
collaborator. Plans were also afoot to enter into the business
of processing and exporting granite stones and to set up a
textile mill for the manufacture of cotton yarn.

1989 - The Company commenced commercial activities in its granite
division. The Company proposed to set up a factory to process
and polish granite slabs. Building required for the unit was
under construction.

1990 - The Company operated the granite, quarry and commenced production
of granite slabs. Also, effective steps were taken to establish
market in foreign countries for granite slabs and blocks.

- The Company received a letter of intent for setting up a new
sugar factory in Alagauchi village in Nanjangud Taluk of Mysore
District, in the State of Karnataka.

1991 - The granite division commenced production of granite tiles.

- The land for establishing the sugar factory was secured and
construction of the factory building commenced in June 1991.

- To part finance the cost of the new sugar factory being
established in Karnataka, the Company issued and allotted 14%
secured redeemable non-convertible debentures for Rs 14 crores to
Citi Bank NA on private placement basis on 26th April.

1992 - During August, the Company issued 37,5000 Secured Zero interest
fully convertible debentures of Rs 50 each at par on Rights basis
in the proportion of 1 debenture: 1 equity share held. 37,49,000
debentures were allotted. Allotment of 1000 debentures was kept
in abeyance pending court order. Another 1,87,500 - Zero
Interest fully convertible debentures of Rs 50 each were offered
to the employees. Only 40,000 debentures were taken up. The
remaining unsubscribed debentures were allowed to lapse.

- During the year, the Company has issued Secured Redeemable
Non-Convertible Debentures for Rs. 14 Crores to Citibank N.A. on
'Private Placement Basis' and the entire amount of Rs. 14 Crores
have been utilised to finance a part of the cost of the project
for setting up the sugar factory in the State of Karnataka.

1993 - The Company produced 27,286 sq. mtrs of granite slabs and 2,766
sq. mtrs. of granite tiles. During the year, sugar factory in
Tamil Nadu for 202 days and the total sugarcane crushed was
244,989 tonnes at an average recovery of 8.72%. The sugar
factory in Karnataka worked for 142 days and sugarcane crushed
was 177,442 tonnes at an average recovery of 8.96%.

- The debenture of Rs 50 will be converted into one equity shares
of Rs 40 per share of 1st of January.

- During the year under review, the sugar factory in Tamil Nadu
had worked for 308 days. During the year under review, the sugar
factory in Karnataka had worked for 126 days.

- Certain new varieties of cane have been introduced in the
sugarcane area of the Company based on the performance trials.

1994 - 37,89,700 shares allotted conversion of secured zero interest
fully convertible debentures.

- On account of higher prices for jaggery, there was diversion of
sugarcane in the reserved area for out Unit - II for manufacture
of jaggery. Hence, supply of sugarcane to our Unit - II in
Karnataka was badly affected.

- During the year the Company has participated in 2 International
Fairs to develop export market for polished granite products.

1995 - During the year, the sugar factory in Tamilnadu worked for 342
days.

- 20,00,000 equity shares of Rs 10 each to the members of
M/s. Coimbatore Alcohol & Chemicals Ltd. as per the Scheme of
Amalgamation.

- The Hon'ble High Court of Judicature at Chennai has approved the
Scheme of Amalgamation for merging M/s Coimbatore Alcohol and
Chemicals Limited with the Company.

- During the year under review, the sugar factory in Tamil Nadu had
worked for 316 days. During the year under review, the sugar
factory in Karnataka had worked for 287 days.

1996 - The sugar factory at Tamilnadu worked for 280 days and at
Karnataka for 269 days. During the year, the company introduced
one kg. packet of sugar under the brand name 'Bannari' in and
around Coimbatore.

1997 - The Sugar factory in Tamil Nadu and Karnataka worked for a period
of 196 days and 194 days respectively. The prices of molasses
ruled very high without corresponding increase in the prices of
finished products.

- During the year, the company had received a Letter of Intent from
Government of India for expansion of cane crushing capacity in
Karnataka from 2500 tonnes to 5000 tonnes coupled with
co-generation of power with a capacity of 16 MW which is under
finalisation.

- During the year under review, the Company had issued 17.5%,
5,00,000 secured redeemable non-convertible debentures of Rs. 100
each aggregating Rs. 5 crores on private placement basis to the
Industrial Credit and Investment Corporation of India Limited
(ICICI).

- The Company had issued secured redeemable non-convertible
debentures of Rs. 100 each aggregating Rs. 14 crores in April
1991. Out of the face value of Rs.100/- the Company has
redeemed Rs. 33/- per debenture on 26.4.1997 aggregating Rs.
4,62,00,000/-.

- The Coimbatore-based Bannari Amman Sugars has become the first
sugar mill in the South to venture into the branded sugar
segment. The company has recently launched its branded sugar
under the name Bannari in and around Coimbatore.

- The Coimbatore-based Bannari Amman Sugars Ltd (BASL) is
planning to diversify into textiles by setting up a Rs 30 crore
textiles unit. The plant, to come up at Coimbatore, will have a
capacity of 25,000 spindles per annum.

1998 - Bannari Amman Sugars Limited is planning to double the sugarcane
crushing capacity of its Nanjangud-based unit from 2,500 tonne
cane per day (TCD) to 5,000 TCD.

- The Bannari Amman group has launched a Rs. 65-crore expansion
programme in its flagship company, Bannari Amman Sugars Ltd.
In six years, the company proposes to expand its capacity to
5,000 t.c.d., considering the higher quantum of cane acreage
that was made available.

- With the expansion to 5,000 t.c.d., the company proposed to
install additional an power plant having a capacity of 16 MW.

- Bannari was the first in South India to get the ISO-9002
certification for applying quality system for white crystal sugar
in its Tamil Nadu sugar factory and the first to introduce the
branded 'Bannari sugar' in one kg. packets.

- The Company also redeemed Rs 34 per debenture being second
instalment or redemption on 26th April, aggregating to Rs 4.76
lakhs. The face value of these shares stands reduced to Rs 33
per debenture with effect from 26th April.

- Bannari Amman's expanded capacity of 7,500 TCD will be
commissioned only in March, 2000 after which it will take up a
second expansion of 2,500 TCD at the same location.

- Bannari Amman Sugars (BAS) is engaged in the manufacture of
white crystal sugars, industrial alcohol and granite exports.

1999 - During the year under review, the factory at Tamilnadu had worked
for 301 days. The factory at Karnataka had worked for 245 days.

- The Company had issued 14% secured non-convertible debentures of
Rs.100 each aggregating Rs. 14 crores in April 1991. The Company
has fully redeemed these debentures on 26.4.1999.

- During the year, the Company has participated in STONA '99
International Granite Fair conducted in Bangalore in February.

2000 - No news.

2001 - The Company proposed to acquire 3267950 (29.04 per cent) of Annamallai
Finance Ltd. from Shiva Distilleries Ltd. at Rs 6 per share.
2004

-The Company's registered office is functioning in their newly constructed office at the following address from February 05, 2004 : Bannari Amman Sugars Limited, 1212, Trichy Road, Coimbatore 641018. Phone No: 0422 2302277; Fax No: 0422 2305599.

2005

- Equity shares of the company delisted from the Madras Stock Exchange Ltd and The Delhi Stock Exchange Association Ltd with effect from January 19, 2005 and January 20, 2005 respectively.

2008

- Bannari Amman Sugars Ltd has appointed Sri. T Gundan as an Additional Director on the Board of the Company.
 
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