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Carborundum Universal Ltd. Company History and Annual Growth Details

1954 - The Company was Incorporated at Chennai. The Company manufacture
bonded and coated abrasive products, refractories, refractory
grains, calcined bauxite etc. The Company also represents
Carborundum Co. for their sales of electrocasts refractories and
crucibles and the Universal Abrasives, Ltd. for abrasive grains.

1962 - 20,000 No. of equity shares issued at a premium of Rs 25 each.

1967 - 36,000 right equity shares issued at par in the proportion 18:35.

1970 - In April, 95,400 bonus shares issued; Prop. 9:10.

1976 - 1,00,700 bonus shares issued to proportion 1:2.

1982 - Shares subdivided. 12,08,400 bonus shares issued in prop. 2:5.

1986 - 16,91,761 bonus shares issued in proportion 2:5.

1991 - 23,68,464 No. of equity shares issued as bonus in prop. 2:5,
58,713 shares issued to the shareholders of Wendt (India) Ltd. in
ratio of 3 shares of the Company + Rs 50 cash for every 5 shares
of Wendt (India) Ltd.

1992 - The Company offered 25,94,965-15% secured redeemable partly
convertible debentures of Rs 130 each on right basis to the
existing shareholders in the ratio of 2 debentures for every five
equity share held. Another 1,29,748 debentures were offered to
the employees. All were accepted.

- Part-A of Rs 60 per debenture was converted into one equity share
at a premium of Rs 50 per share on 1.4.1993. Part-B of Rs 70 per
debenture was to be redeemed in three instalments of Rs 23, Rs 23
and Rs 24 from 7th, 8th and 9th year respectively from the date
of allotment.

- The Company acquired 4,740 preference shares and 1,24,800 equity
shares of Wendt (India) Ltd. and 10 lakhs Units of Unit Trust of
India under the 1964 Scheme.

- The Company has issued by private placement 5,00,000 - 14%
Secured Redeemable Non-Convertible Debentures of Rs.100/-each
aggregating to Rs.500 lakhs to finance the working capital

1993 - 27,24,164 shares allotted (prem. Rs 50) on conversion of 15%

1994 - The Company commissioned a wind farm of 2 MW capacity at
Perungudi and Tamilnadu. During the year a project for
manufacture of brown aluminium oxide grains was commissioned with
additional capacity of 8,000 tonnes at Edappally.

- 300 shares issued on conversion of 15% PCDs.

- The Company has obtained highest rating of p1+ from CRISIL for
the issue of Commercial Paper for Rs.10 crores during the year.

1995 - Four wind mills were also added for increasing the capacity to
2.925 MW in order to meet power requirement of Hosur factory.

- During the year the Company had entered into a technology
transfer agreement relating to manufacture of nitride bonded
silicon carbide refractories.

1996 - The performance of electrominerals division was affected by the
continuous steep power cuts in Kerala, increase in power traffis
and freight charges.

- A new facility for manufacture of new generation monolithics for
steel plants was being established at Visakhapatnam.

- Murugappa Morgan Thermal Ceramics Ltd., a subsidiary in which
the Company held 70% shareholding has implemented a new project
for 3000 tonnes Spun Ceramic Fibre

1997 - The Company has issued and allotted 4,01,020 bonus shares in the
ratio of two shares for every one share held.

- During the year a technology transfer agreement has been entered
into with Answer Technology Inc., USA for manufacture of new
generation monolithics for steel plants.

- The Company has collaborated with leading research institutions
like Regional Research Laboratory, Babha Atomic Research Centre
and Pennsylvania State University for the development of new
ceramic materials and process technology.

- The Company's shares have been admitted to the depository system
consequent to an agreement being signed with National Securities
Depositories Ltd., (NSDL) in November.

- The Company is to set up a unit in Visakhapatnam for the
manufacture of special refractories for the steel industry.

- The company also set up four windmills during the year.

- The Ranipet unit manufacturing super refractories received the
ISO 9002 certification.

- The Company, part of the Murugappa Group, Chennai, has become
the first Indian company to have got the approval of the
Directorate of Civil Aviation for plasma coating aircraft
propellers and turbine blades.

- The Company is merging the three companies that it acquired last
year - Cutfast Abrasive Tools (CAT), Cutfast Polymers (CPL), and
its arm Eastern Abrasive (EAL).

1998 - Eastern Abrasive Ltd and Carborundum Universal Investments Ltd.
are subsidiaries of Carborundum Universal Ltd.

1999 - Allotment of 4,62,319 shares to the shareholders of erstwhile
Cutfast Abrasive Tools Ltd., Cutfast Polymers Ltd. and Eastern
Abrasive Ltd. consequent to the amalgamation of these Companies
with Carborundum Universal Ltd.

- During the year 5,62,500 equity shares were allotted to HSBC
Private Equity India Fund Ltd., Mauritius (HPEIF) on conversion
of the 15% Fully Convertible Bonds aggregating to Rs.9 crores
held by them.

- The Company has established a wholly owned subsidiary in the
U.S.A by name CUMI America Inc. for marketing the Company's
products in the American markets.

2000 - New Ambadi Investments Pvt. Ltd. (NAIL) has acquired 14,88,732
(12.30 per cent) equity shares of the company and consequently
its present holding stands at 14,97,732 (12.37 per cent).

- The Company has sold its refractory unit in Visakhapatnam for a
sum of Rs 7.8 crore.

- The Company has received shareholder approve to its decision to
buy-back up to 27-68 lakh shares at Rs. 115 per share through a
tender offer on a proportionate basis.

- The Company proposed to buyback the fully-paid equity shares of
Rs. 10 each of the company.


-Mr M V Murugappan steps down as the Whole Time Director on the Board of the company.

-Sells its Electrocast refactories unit at Palkkad for Rs.31 crs.


-Appoints Mr Ramesh Agarwal as the Manging Director of the company.

-The Company has acquired a 51% stake in CUMI Australia Pty Ltd.


-M.M. Murugappan new MD for Carborundum Universal

-Gets award for industrial safety instituted by National Safety Council, Kerala Chapter in other industries sector in the small industries category


-Carborundum Universal Ties up with South African firm Cerdak

-Carborundum Universal Ltd sets up 100% subsidiary in Ras Al Khaimah, U.A.E for marketing its products, namely, Abrasives, Ceramics, Refractories and Electrominerals in Middle East


-Carborundum Universal enters into a Joint Venture with CEEB to take a 49% stake in Jingri, Yanjiao, China


-Carborundum Universal Ltd has entered into a Business Purchase Agreement with IVP Ltd, for the acquisition of its industrial ceramics division at Aurangabad, Maharashtra, as a going concern subject to fulfillment of statutory and other formalities. The deal is expected to be completed shortly.


- Carborundum Universal Ltd has informed BSE that Mr. M Lakshminarayan has been appointed as Non Executive Director of the Company with effect from January 20, 2009.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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