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Gillanders Arbuthnot & Company Ltd. Company History and Annual Growth Details

YEAR EVENTS
1935 - The Company was incorporated as a private limited on 1st February
and converted into a public company on 28th February, 1947.

- The Company was a well known Managing Agency House of Calcutta.
It carries on extensive business as general traders and agents
and has branches at Mumbai, Chennai and Delhi. It also
manufactures continuous stationery for computers and aluminium
sluge.

- 64,900 No. of equity shares and all the 25,000 pref. shares
allotted as fully paid up pursuant to a contract without payment
in cash. Pref. shares redeemable either in whole or in part
at any time after 28th February, 1962 on giving atleast 6 months
notice.

1954 - Equity shares subdivided into shares of Rs.10 each.

1972 - The Wholly owned subsidiary Taipoo Tea Association Ltd., was
amalgamated with the company with effect from 1st April.

1974 - Indian Tack & Nail Co. Ltd., and Adequate weighers (India) Ltd.,
two of the erstwhile subsidiaries of the company were amalgamated
with the company with effect from 1st April.

- 69,600 more equity shares were issued for consideration other
than cash.

1976 - 97,108 No. of equity shares issued without payment in cash.

1977 - 28,900 No. of equity shares issued without payment in cash.

1978 - 4,22,804 bonus equity shares issued in prop. 1:2.

1980 - Profits recorded a steep fall mainly due to drop in the
profitability of the tea division.

1982 - The tin refinery division was also closed down due to shortage of
raw material 'tin dross'.

1985 - Profits, however, declined substantially mainly due to lower
average selling price and higher manufacturing cost of tea.

- Performance of the engineering division was unsatisfactory due to
difficult operating conditions while that of the marketing
division registered an improvement.

- 3,17,103 bonus equity shares issued in prop. 1:4.

1986 - The company redeemed 25,00 - 5% cumulative redeemable preference
shares of Rs.100 each fully paid by issuing and allotting
25,000 - 15% non-convertible redeemable secured debentures in
lieu thereof effective from 1st April.

- 25,000 - 5% cumulative preference shares redeemed.

1987 - Profits declined mainly due to a substantial fall in the profits
of the tea division.

- The Company proposed to supplement the Kalamzoo works with
encoding and testing equipments for the manufacture of Magnetic
Ink Character Recognition (MICR) cheques and other documents.

1988 - The Indian tack and nail division was closed down with effect
from 16th June, due to fall in demand for its products.

2009

- Gillanders Arbuthnot & Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 06, 2009, inter alia, has appointed Mr. H P Kanoria and Mr. S Lahiri as Additional Directors of the Company.

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