Home  »  Company  »  Duncans Industries Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Duncans Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1895 - The Company was incorporated at Calcutta. The main object of the
Company is cultivation of tea and manufacture of cigarettes, pipe
tobacco and agricultural produce like cardamom, citronella oil,
etc.

1948 - 4,500 Bonus Equity shares issued in the prop. of 1:1.

1964 - With effect from 1st January the Hantapara Tea Co. Ltd., owning
Hantapara and Dumchipura Tea Estates was amalgamated with the
Company. As a result, the Company acquired a total holding of
more than 50% in the share capital of Poobong Tea Co., Ltd.

- 5000 Pref. and 24,000 No. of Equity shares allotted to members
of Hantapara Tea Co., Ltd., upon its merger with the Company.

1966 - 6,600 bonus Equity shares issued in the prop. 1:5.

1968 - 7,920 Bonus Equity shares issued in prop. 1:5.

1970 - With effect from 1st January Gungaram Tea Co., Ltd. were merged
with the Company effective from 1st January, 1972 and 1st
January, 1973 respectively.

- 66,587 No. of Equity shares allotted on 10th February 1971 to
members of Gungaram Tea Co. Ltd.

1972 - 1,182 7.5% pref. and 8.29% No. of Equity shares issued to members
of Kotamullai Tea Co., Ltd., upon its merger.

1973 - 8,753 No. of Equity shares issued to the shareholders of Ledo Tea
Co., Ltd., Pursuant to the scheme of Amalgamation.

1974 - The scheme of amalgamation of the Marybons & Keyl Tea Estates,
Ltd., which became a subsidiary in 1973, with the Company was
approved by Calcutta High Court with effect from 1st January.

1977 - National Tobacco Co., of India, Ltd., was merged with the
Company effective from 1st March. As a result, the Company
acquired two cigarette factories, one at Bikkavolu in Andhra
Pradesh and the other at Agarpara in West Bengal. The Company
allotted to the member of National Tobacco Co. of India, Ltd.,
without payment in cash 19,980-5.85% redeemable cumulative
preference shares of Rs.100 each and 9,997 No. of Equity shares
of Rs.100 each.

- Subject to necessary approvals being obtained, Veerayalakshmi
Investments, Ltd. was proposed to be amalgamated in the SG
Investments and Industries, Ltd. a Company listed on the Calcutta
Stock Exchange.

- 64,382 Bonus Equity shares issued in prop. 1:2.

1979 - The Lankappara tea gardens was split into two viz., Lankapara and
Tulipara tea gardens in order to ensure closer and better
supervision.

1980 - Authorised capital reclassified during 1979. 19,980-5.8%
redeemable cumulative pref. shares, 25,000-6.5% redeemable
cumulative pref. shares and 9,997 No. of Equity shares were
allotted to members of National Tobacco Co. of India Ltd.,
without payment in cash on amalgamation.

1983 - For the first time the Company undertook packeting operations at
its tea factories. The Company introduced two more brands of
tea, viz., 'Gold Cup' and 'Shakti Dust' apart from Rothmans king
size cigarettes. The Company also produced and launched a 100%
non-tabacco smoking product under the brand name 'Smokette'.

- The Company revalued some of its estates, land and other assets
as on 31st December. The net surplus amount arising out of this
was transferred to revaluation reserve.

1984 - Packeting of tea in consumer packs continued. A unique brand
'Come Home' was also launched towards the end of the year.

- Old tea garden was disposed of with effect from 1st January.

1985 - The Company formulated a substantial capital expenditure
programme for its tea garden to equip the tea factories to handle
additional production and to improve the infrastructural
facilities.

- Keeping in view the long term prospects, the Company was
identifying additional land in North Bengal to bring under tea
cultivation.

1986 - Adverse weather conditions led to a decline in production to
12,025 tonnes in the total crop harvested compared to previous
year. Also a sharp decline was experienced on the exports front
due to stagnant demand.

- On 29th January, the Company allotted 15% non-convertible secured
redeemable debentures of the aggregate value of Rs.550 lakhs to
financial institutions and other bodies.

- These debentures are redeemable at a premium of 5% on the expiry
of 7th from the date of allotment.

- After obtaining the necessary approvals, the Company reduced its
capital with effect from 1st January, by cancelling the existing
25,000-6.5% redeemable cumulative preference shares of Rs.100
each. 19,980-5.8% redeemable cumulative preference shares of
Rs.100 each and 1,500-8% cumulative preference shares of Rs.100
each and 2,182-7.5% cumulative preference shares of Rs.100 each
aggregating to an equivalent of Rs.48,66,200 by the issue and
allotment of 48,662-15% non-convertible secured debentures of
Rs.100 each fully paid-up aggregating to an equivalent of
Rs.48,66,200 to the holders of the said preference shares in the
prop. 1:1.

- Capital reduced by conversion of pref. shares into debentures.
Authorised capital reclassified and increased.

1987 - A fire broke out in the company's tea factory at Marybong Tea
Estate on 9th September.

1989 - 1,01,572 bonus shares issued in proportion 1:2

1991 - 15% secured redeemable partly convertible debentures aggregating
Rs.3,999.38 Lakhs were allotted on Rights basis.

- Authorised capital increased in December 1990. Equity shares
subdivided in April 1991.

- During the year an extensive distribution network has been set up in major
overseas market to cater to the needs or such importers.

- The Company also effected cancellation of Preference Shares aggregating to
Rs.48.66 lacs with effect from 1st January, 1986 and in lieu thereof, issued on 19th
April, 1986, fully paid 15% Non-Convertible Secured Redeemable Debentures,
redeemable after the expiry of 10 years from the aforesaid issue date.

1992 - As at 31st March, 1,60,017 No. of Equity shares of the Company
were held by Field Investments, Ltd., the holding Company.

- The Company has promoted certain projects in areas like bio-technology,
software development, hospital and medical care and financial services in
which the future is promising and long term prospects are good.

- Veeryalakshmi Investments Limited is proposed to be amalgamated
with S.G. Investments & Industries Ltd., which is a listed Company in the Calcutta
Stock Exchange, and has ceased to be a subsidiary of the Company.


1993 - The issue of 15%--Redeemable Secured Partly Convertible Debentures
(Debentures) of Rs 125 each on a rights basis to the members and to the
employees was oversubscribed.

- The Debentures were converted into Ordinary Shares (one share for every
Debenture) of Rs 10 each at a premium of Rs 50 per share on 24th February.

- During the year an extensive distribution network has been set up in major
overseas market to cater to the needs or such importers.

1994 - The name of CCFCL has been changed to DUNCANS INDUSTRIES
LIMITED from 1st November.

- The Company in the initial stage, proposes to make public issues of about
Rs. 325 crores in one or more tranches at an appropriate time with an appropriate
premium..

- Andhra Cements Limited (ACL) has become a subsidiary of this Company on 1st
July, pursuant to an investment of Rs. 7.25 crores by DAIL in its equity capital.

- 8236840 No. of Equity Shares to be issued in keeping with exchange ratio of 5:4
for 6589472 Ordinary Shares of erstwhile DAIL issued and subscribed both as on
31st December, 1993 as also as on 31st March, 1994.

- 988385 No. of Equity Shares are further required to be issued in respect of 3953540
Ordinary Shares isssued by erstwhile DAlL in August, 1994 keeping in view the
exchange ratio of 5:4 as above.

1995 - Duncans Agro Industries Limited ('DAIL') merged with the Company.

1996 - The Tea Division has been one of the industry pioneers in introducing the concept of
'total quality' into its operations. During the year under review, the Division's Darjeeling
tea gardens, namely, Marybong and Runglee, received the ISO 9002 Quality Systems
Certification award from the Bureau of Indian Standards.

- The Company, during the year under review, issued 5,00,00015% Redeemable Cumulative
Non-Convertible Preference Shares of Rs.100 each at par aggregating to Rs. 5 crores to
Housing Development Finance Corporation Ltd.

- Ahalya Investments Ltd., Cape Investments Ltd., Colorado Investments Ltd., Danube
Investments Ltd. and Stage Investments Ltd. have ceased to be subsidiaries of the
Company.

1997 - Messrs. Bhaskar Banerjee and V. R. Kaushik have now been redesignated
Senior Managing Director and Managing Director respectively.

- 3542322 15% partly Convertible Secured Redeemable Debentures
(Non-convertible part of Rs. 65 each) is redeemable after the expiry of 7 to 10
years from the issue date, i.e., 24th August, 1992 in instalments.

- The Company has, during the year, issued Foreign Currency Convertible Bonds
(FCCB) aggregating to Swiss Franc 50 million to foreign investors with a maturity
period of seven years from the date of issue.

1998 - The Panki Unit was awarded the Best Overall Performance Award in the entire
industry by the Fertiliser Association of India (FAI).

- Seven lacs Redeemable Cumulative Non-convertible Preference Shares of
Rs. 100 each were issued during the year to select domestic investors.

- Mr. M. L. Bhakta resigned from the Board during the year under review
for reasons of health.

- E. Hill & Company Limited ceased to be a Subsidiary during the year
under review.

- 10,000,000 Equity Shares of Rs. 10 each fully paid up have been
allotted for consideration other than cash.

- The Company had allotted in October 1996, 5000000 Equity Shares of
Rs. 10 each at a premium of Rs. 54.08 each to Angsana (Mauritius)
Investment Limited, a Subsidiary of Temasek Holdings (Pte) Limited, an
investment arm of the Singapore Government.

- The Company had issued on November, 1996 Foreign Currency
Convertible Bonds (FCCB) aggregating to Swiss Franc 50 million to
foreign investors with a maturity period of seven years.

- The Company has given an undertaking to the concerned Financial
Institution to buy back 1416822 Equity Shares in Herdillia Oxides and
Electronics Limited at a price to ensure 22% return.

1999 - Amalgamation of five Group investment companies, Arvind Investments Ltd.,
Field Investments Ltd., Keya Trading Company Ltd., Krish Management Services Pvt.
Ltd. and Quandong Investments Ltd. into this Company with effect from 1st March.

- Quality Management System and Environment Management Systems as per the
ISO 9002 and ISO 14001 specifications have been introduced in the Fertiliser Division.

- A prolonged drought in North-East India during the early part of the 1999 Tea Season
severely affected the first flush crop.

- Mr. G.P Goenka has been appointed a whole-time Director from 1st August, 1999.

2000 - The Rs 125-crore Duncans Gleneagles Hospital, a 50:50 joint venture between
Duncans Industries Ltd and Gleneagles of Singapore, will be fully operational
by mid-May.

- Duncans Industries is getting a new packet tea head. And the new man is Pinaki Pan, former general manager (eastern) of Glaxo Smithkline.

- Duncans Industries which has relaunched its flagship brand Double Diamond CTC tea bags which they propose to launch in the major metros as part of its strategy to build and reposition existing brands.

2003

-High Court okays Phosphate Chemicals' wind up petition over Duncan Ind

2007

-Duncans Industries Ltd has appointed Mr. Debadatta Sengupta, as an Additional Director of the Company with immediate effect.

-Duncans Industries Ltd has informed that at the meeting of the Board of Directors of the Company held on November 01, 2007 Mr. Kalyan Mukhopadhyay, who has joined as Company Secretary with effect from October 24, 2007, has been appointed as the Compliance Officer with immediate effect.
 
Subscribe now to get personal finance updates in your inbox!