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Himalaya Granites Ltd. Company History and Annual Growth Details

1987 - The Company was incorporated as a Private Limited company on
11th December, at Chennai. It was promoted by M/s. M.P.
Valusami, M. Vijan, M.P. Balkrishnan, S. Susindran and R.
Gunasekaran. On 11th September 1991, S.P. Mittal and R. Mittal
took over the management of the Company.

The company was converted into a public limited company on 28th
February 1994 and a new Certificate of Incorporation was obtained
on 21st March 1994.

- The company had set up a 100% Export Oriented Unit for
manufacture of processed granite monuments with an installed
capacity of 9,000 sq. mtrs. per annum at village Panchalam,
Chennai. The main object of the company is to manufacture
granite monuments, Tomb Stone and Memorials.

1994 - The company proposed to expand the installed capacity of polished
granite monuments to 12,000 sq. mtrs. per annum at an estimated
cost of Rs. 60.75 lakhs.

- During December the company offered 10,00,000 No. of equity
shares of Rs. 10 each at a premium of Rs. 20 per share of which
1,00,000 shares were offered to promoters, directors, their
friends and relatives, 50,000 shares were offered to IRBI, 50,000
shares offered to Kothari Pioneer Mutual Fund and the balance
8,00,000 shares were offered to the public. All were taken up.

- Subject to necessary approvals being obtained the Company
proposed to change the name to 'HGL Industries Ltd.' to reflect
its diversified nature of its operation and popularity of
abbreviated name.

- 20,05,000 shares were held by promoters.

1995 - During the company proposed to diversify its activities into
leather goods manufacturing.

1996 - Sale of monuments badly affected due to steep all in the rates of
German Marks. Production was also affected to some extent due
to on going expansion work at the factory.


-Himalaya Granites Ltd has informed that the term of Mr. Shiv Prakash Mittal as a Managing Director & CEO of the Company has expired on May 31, 2007 and he will continue as a Non executive Chairman of the Company.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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