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Hindalco Industries Ltd. Company History and Annual Growth Details


- The Company was Incorporated on 15th December, at Mumbai to
manufacture alumina, aluminium and aluminium fabricated items.

- The Company was formed by the house of Birlas in collaboration with
the Kaiser Organisation of U.S.A. According to the Company's agreement
with Kaiser Aluminium and Chemical Corporation, the Collaborators
agreed to allot to the Collaborators 4,80,000 fully paid-up equity
shares of Rs 10 each.

- The Company also concluded Technical Advisers and Consultants
Agreements with Kaiser Aluminium Technical Services Inc., California,
who agreed to train the Indian technical personnel, to supply the
Company necessary technical advice, to assist in operating the plant
including aluminium fabrication and to provide information for a period
of 20 years on all technical matters.

- An agreement was also entered into with Henry J. Kaiser Company for
such design, engineering procurement and related services with regard
to the construction of the plant at Rihand as were to be performed
outside India and with Kaiser Engineers Overseas Corporation for such
services to be rendered in India.


- 2,50,000 Pref. & 58,50,000 equity shares issued through a prospectus
of which 4,80,000 shares allotted without payment in cash to Kaiser
Aluminium Corporation and 9,61,000 shares against cash. 1,20,000
shares to Kaiser Aluminium Technical Services Inc. allotted without
payment in cash 21,33,000 shares to Birla Gwalior Pvt. Ltd. & 21,56,000
shares to public.


- Rate of dividend on pref. shares altered. In 1962, 10,750 No. of
equity shares & 300 pref. shares forfeited. Forteiture on 2,250 No. of
equity shares annulled.


- The Properzi mill plant was set up for the production of redraw rods
with a rated capacity of 6,000 tonnes per annum.

- Forfeiture on 30 pref. and 3,950 No. of equity shares annulled.
Another 2,250 No. of equity shares forfeited. Arrears: Rs 4,000.


- An extrusion press and rolling mill for the production of aluminium
extrusions and rolled products (sheets, etc.) was installed with rated
capacity of 2,000 tonnes and 7,000 tonnes respectively, thus bringing
the total capacity of the fabrication plant to 15,000 tonnes per annum.

- The annual licensed production capacity of the primary metal of
60,000 tonnes was achieved. Several modifications in the plant were
also implemented which enhanced the Company's production of primary
metal to 200 tonnes per day by the end of 1968.


- Another Properzi mill plant was commissioned which expanded the
fabrication plant capacity from 15,000 tonnes per annum to 37,000
tonnes per annum.


- Two more extrusion presses and a few additional facilities in rolling
mill were erected by the end of the year to get higher production.

- 1,00,000 9.3% Pref. shares issued at par in 1968. 3,61,383 Equity
shares out of 1967 issue allotted in 1968. Arrears of Rs 4,000.


- 20,07,973 Bonus Equity shares issued in the proportion 1:4. Arrears
of Rs 4,000.


- By the middle of the year the total installed capacity of the metal
rose to 95,000 tonnes per annum.


- The Company revalued its plant and machinery as on 1st January, and
the surplus of Rs 61,71,60,821 arising out of it was transferred to
capital reserves.


- As on 1st January, the Company further revalued the major items of
land, buildings and plant and machinery. A surplus of Rs 83,97,23,344
arising out of this was transferred to capital reserve.


- 33,46,622 Bonus Equity shares issued in proportion 1:3 in June.


- The Company issued secured non-convertible debentures for a sum of Rs
17.50 crores for augmenting the resources for long-term working capital


- 26.69% of the Company's equity capital was held by Kaiser Aluminium &
Chemical Corporation, U.S.A., along with their nominees (Kaisers)
aggregating to 35,73,332 equity shares of Rs 10 each as on 31st


- The highlight of the alumina plant expansion and modernisation was
the installation of a gas suspension calciner which was reported to be
the first of its kind in the world. The design and technology was
provided by F. L. Smidth & Co. of Denmark.

- An agreement was finalised with M & F of Switzerland for installing
the double digestion system to further reduce the steam consumption.

- With regard to the reduction plant, the Company received a licence to
enhance its capacity from 1,20,000 tonnes to 1,50,000 tonnes of
aluminium per annum.

- The Company was also engaged in expansion of capacity from 1,20,000
tonnes to 1,50,000 tonnes of aluminium per annum.

- The Company was also engaged in modernising its smelter with a view
of effect substantial savings in energy consumption. With regard to
the fabrication facilities, the Company had in hand a licence to expand
the capacity from 37,000 tonnes to 55,700 tonnes per annum.

- The Company holds the entire issued capital of 35,006 equity shares
of Rs 10 each of its subsidiary, Minerals and Minerals Ltd., Calcutta.
During the year the two companies named Siddhpeeth Commercial Pvt.
Ltd., and Dhakshinanchal Commercial Pvt. Ltd., became subsidiaries of
the Company. Marigold Holdings & Trading Ltd., and Dhakshinanchal
Finance Ltd., were also subsidiaries of the Company.

- The Company issued 40,00,000-15% non-convertible debentures of Rs 100
each for Rs 40 crores as rights to resident equity and preference
shareholders and debenture holders. The proceeds were to be utilised
for financing the Company's modernisation scheme.

- As a matter of policy, Kaiser Group decided to divest its holdings in
various corporations world-wide where they did not hold the majority
interest. As part of this disinvestment programme, they also decided
to disinvest their holdings in the Company.


- The scheme to install double digestion system in the alumina plant
was under implementation. As a part of its energy conservation
programme, the Company commissioned a microprocessor based controls on
20 pots on an experimental basis to control pot voltage, alumina
feeding, etc.

- During the year, an application was submitted for permission to
increase the smelting capacity of Renukoot by a further 1 lakh tonnes
per annum along with matching alumina production and thermal power
generating capacity.

- The Company entered into an agreement with the Pradeshiya Industrial
& Investment Corporation of U.P. (PICUP) on 2nd January for setting up
an aluminium foil manufacturing unit in the Assisted Sector at
Jagdishpur in Sultanpur district of U.P. The capacity of this foil
plant was envisaged at 5,000 tonnes per annum and the estimated cost of
the project was Rs 50 crores. This project was cleared under the MRTP
Act in April 1989.


- During May-June, Kaiser Group disinvested all its equity shareholders
in the Company.

- Conform extrusion machine was installed and commissioned.

- (15 months), the Company issued 14% non-convertible debentures of Rs
100 each for Rs 45 crores on a rights basis to the existing resident
equity shareholders and preference shareholders. The funds thus raised
were utilised for the Company's modernisation schemes.

- The holdings of Kaisers were offered for sale as follows: (i)
32,71,050 equity shares of Rs 10 each at premium of Rs 40 per share to
the shareholders of the Company as rights in proportion 1:3 (fractions
to be ignored) and (ii) 3,02,282 equity shares of Rs 10 each at a
premium of Rs 40 per share to the employees of the Company on an
equitable basis.

- 44,62,622 Bonus Equity Shares issued in proportion 1:3. Rate of
interest on preference shares increased to 15%.


- The sixty pot line was commissioned, with the addition of 70 pot
cells, thereby increasing the installed aluminium production capacity
to 1.35 lakh tonnes per annum. Installation of a new cold rolling was
taken up to enhance the capacity of rolled products by 40,000 tonnes
per annum.

- The rate of Central Excise Duty on aluminium was also increased by
the Finance Act.

- The name of the Company was changed from Hindustan Aluminium
Corporation Ltd., to Hindalco Industries Ltd.


- During January-February, the Company issued 53,54,595-12.5% secured
redeemable partly convertible debentures of Rs 250 each on Rights basis
in the proportion 3 debentures: 10 equity shares held. Additional
8,03,189 debentures were allotted to retain oversubscription.

- Another 2,81,820 debentures were issued to the employees (including
Indian working directors)/workers) of the Company on an equitable basis
(only 2,23,450 debentures were taken up). The unsubscribed portion of
58,370 debentures was allowed to lapse.

- As per the terms of the debenture issue, a portion of Rs 110 (Part-A)
of the face value of each debenture was converted automatically into
one fully paid-up equity shares of Rs 10 each at a premium of Rs 100
per share on the expiry of six months from the date of allotment.

- The balance of Rs 140 (Part-B) of the face value of each debenture
would be redeemed at par in two equal instalments of Rs. 70 each at the
end of the 7th and 8th year from the date of allotment of debentures.

- 63,81,234 No of Equity Shares allotted in part conversion of 12.5%
debentures as on 1.10.1990 (prem. Rs. 100). 145,37,930 bonus shares
issued in prop. 3:5 in October.


- The Company issued 40,00,000-17.5% redeemable non-convertible
debentures of Rs 100 each to financial and other institutions on
private placement basis.


- Renusagar Power Co. Ltd., a wholly owned subsidiary of the Company,
was merged with the Company with effect from the close of business on
31st March. The Company was engaged in obtaining certification for ISO
9000 and for introduction of TQM.

- The Company again revalued its assets as on 1st April, and the net
surplus of Rs 90623.37 lakhs arising out of this was credited to
revaluation reserve.

- The erstwhile Renusagar Power Co. Ltd. issued 6,50,000-18%
non-convertible debentures of Rs 100 each to financial institutions on
private placement basis to augment the long-term resources for working
capital. Out of this, 3,00,000 debentures are redeemable at 5% premium
in equal annual instalments on 23rd June, 1998, 23rd June, 1999 and
23rd June, 2000. The remaining 3,50,000 debentures are redeemable on
23rd June, 1999.


- The Company was in the process of implementing the expansion project
to raise the smelter capacity by 40,000 TPA to 2,10,000 TPA.

- With a view to meet the demand of over seas markets, the company
proposed to instal own Ingot Casting machine. Also, alumina production
capacity was enhanced to 3,50,000 TPA reducing thereby the company's
dependence on external sources.

- It was also proposed to undertake a further expansion of alumina
production capacity to 4,50,000 TPA with the technology from Remolds
International Inc. USA and Reytheon Engineering & Construction, USA.

- The Company undertook to instal 9 high pressure boiler along with
back pressure turbines for generation of power.

- During the year, the company proposed to install two power generating
units lamp a total capacity of about 150 MW at Renusagar power plant.
In addition, upgradation of existing extrusion facilities, the existing
hot and cold mills.

- It was also proposed to install a vertical ingot casting facility and
vertical billet casting facility using air ship technology required
from Wagstaff Engineering Inc. USA.

- The Company participated in the equity capital of Birla International
Ltd., incorporated in the Isle of MAU. This was to promote exparte in
India. Indo Gulf Fertilizers & Chemicals Corporation Ltd., Bihar
Caustic & Chemicals Ltd., Tanfac Industries, Mangalore Refinery &
Petrochemicals Ltd., & Birla Global Finance, Ltd. are all joint venture

- Birla Capital International AMC Ltd., is a joint venture asset
management company was promoted by Grasim Industries Ltd., Hindalco
Industries Ltd., Indian Rayon & Industries Ltd. and Birla Global
Finance Ltd. with the capital group International Inc., a major US
based investment management organisation.

- The joint venture manages mutual fund schemes for Birla Mutual Fund.
Another joint venture, Rajashree Polyfil Ltd. was setting up an
integrated plant with a capacity of 66,000 TPA of polycondensation and
37,900 TPA of partially oriented polyester filament yarns project.

- The Company issued 25,00,000-17% secured non-convertible redeemable
debentures of Rs 100 each on private placement basis. Theser are to be
redeemed in three equal instalements on 11th May of 1999, 2000 and 2001
at a premium of Rs 5 per debentures.

- On 22nd July, the Company issued 44,73,000 GDRs of U.S. $16.10 per
GDR equivalent to Rs 505 per unit (conversion rate of U.S. $1 = Rs.
31.37). Each GDR comprises one equity share of the nominal value of Rs
10 together with one-half of a warrant which can be converted into one
equity share on exercise of two half warrant at the price of U.S.
$16.10 subject to adjustment) during the period from 3rd November, 1993
to 2nd November, 1995 (both days inclusive).

- These GDRs were offered to non-U.S. persons in offshore transactions
in reliance on Regulations under the Securities Act of 1933, a amended,
in the United States to Qualified Institutional Buyers (QIBs) in
reliance on Rule 144A under the Securities Act. There was a lock-in
period of 30 days for the GDRs.

- 46,03,650 equity share out of 67,09,500 shares were allotted. The
net proceeds of this issue, estimated to be about U.S. $69,331, 500
(before expenses) were to be utilised to part finance the Company's
capital expansion programme.


- The Company proposed to further expand the smelting capacity to
2,42,000 tonnes p.a. with an upgradation of all attendant plants.

- It was also proposed to increase alumina capacity to 4,50,000 TPA to
match the smelting capacity. Technology was being secured from
Reynolds international Inc. USA and United Engineers International Inc.
USA. A significant feature of the expansion is the installation of
co-generation system with a high pressure boiler and back pressure
turbines for power generation.

- During the year, the Company undertook to increase the power
generation capacity at Renusagar power plant from 350 MW to 500 MW.

- With the strategy of undertaking down stream activity with the
purpose of acheiving higher realisation, the company undertook to
instal an aluminium foil plant with an initial capacity of 5000 TPA.

- During July, the Company issued its second GDR issue of 41,66,666
receipts at the rate of 24 $ per GDR. Each GDR was converted into one
equity share and accordingly 41,66,666 equity shares were to be


- Installed smelting capacity was increased to 2,10,000 MTPA with the
completion of 7th Potline. The hot and cold rolling mills were being
modernised. On completion rolled product capacity would be increased
to 80,000 MTPA.

- The company of its first international US $36 million. The warrant
holders have the option to exercise these warrants by 2nd November
after April, 32.4% of the warrants exercised till 31st March 1995,
4,67,900 equity shares allotted on excuse of warrants.

- 16,37,950 No of Equity shares allotted on conversion of GDRs. 6,000
No. of Equity shares forfeited.


- One of the power generating turbine of 75 MW was commissioned during
the year, taking the total capacity to 425 MW.

- It was proposed to acquire additional bauxite mines in M.P.

- The upgradation of existing extrusion facilities with technology from
Reynolds (Europe) Ltd. was undertaken.

- With a view to improving quality of feed stock for the upgraded
rolling and extrusion facilities, the company undertook to instal
vertical ingot casting facility and vertical billet casting facility.
Both the facilities were to use the Air Slip Technology of Wagstaff
Engineering Inc., U.S.A.

- Following a comprehensive technological upgradation of the Company's
hot and cold rolling mills, the two mills were commissioned in March

- Also, the Company's installed capacity of rolled products was
increased to 80,000 tpa. In addition, the vertical ingot casting
facility, a scalpter, soaking pits and slitting line were commissioned.

- The Company received the special export award conferred by the
Chemical & Allied Products Export Promotion Council of India for its
outstanding export performance.

- 24,827,990 bonus shares issued in prop. 1:2.


- Extrusion Press No. 3 was completed by increasing the overall
extrusion capacity to 13700 MTPA. The Foil plant at Silvassa was
commissioned in February 1998.

- With a view to capitalising its inherent strength, the Company was
exploring the feasibility of setting up an integrated Aluminium complex
in Orissa.

- A MOU was signed with Orissa Mining Corporation for transfer of two
bauxite deposits with adequate reserves. The project was to be named
'Aditya Aluminium'.

- During the year the Company has signed a technical collaboration
agreement with Stahlschmidt & Maiworm Gmbh of Germany for setting up an
Aluminium Alloy Wheel Plant adjacent to the Foil Plant at Silvassa.
This project will promote a new application in the domestic market
besides presenting the export market.

- Hindalco Industries, a flagship company of Aditya Birla group, on
March 29 signed a MoU with the Orissa Mining Corporation (OMC) for
setting up of a mega integrated aluminium complex in the state, at an
estimated cost of Rs.10,000 crore.

- The company also plans to set up a captive power plant of 600 mw
close to the coal deposit at Ib Valley. The state-owned OMC will lease
out its bauxite deposits at Kodingamali-Pottangi to Hindalco for

- The mega project includes setting up an alumina refinery of one
million tonne per year capacity near the Kodingamali-Pottangi bauxite
deposits in the Koraput district in Orissa.


- Hindalco Industries, an Aditya Birla group company, commissioned its
5,000 tpa aluminium foil unit at Silvassa.

- Hindalco commissioned the potline, where aluminium is smelted by an
electrolytic process, on February 18. State-controlled National
Aluminium Company (NALCO), currently India's biggest aluminium
producer, has a smelter capacity of 2,30,000 tonnes per annum.

- Hindalco on 11th Sept announced that it would acquire a 51 per cent
stake in B M Khaitan owned India Foils Ltd (IFL).


- Hindalco Industries Ltd is slated to commission its aluminium alloy
wheel plant at Silvaasa in Gujarat in September, Mr. Kumar Mangalam
Birla, Chairman of the company, said.

- Hindalco Industries, the flagship company of the Aditya Birla group,
is the country's largest integrated aluminium company.

- Aditya Birla group company Hindalco Industries Ltd (Hindalco) has
acquired 18,38,900 shares of public sector major National Aluminium
Company Ltd (Nalco) through one of its investment subsidiaries.

- The Rs 1,767-crore aluminium major, Hindalco Industries Ltd, is
setting up a one lakh tonne per annum brownfield (expansion at current
site) aluminium smelting project at Renukoot at an estimated cost of Rs
2,500 crore.


- The board of directors has approved entering into an agreement with
Alcan Aluminum Ltd of Canada, for purchase of 3,88,44,324 shares
constituting 54.6 per cent of the paid-up capital of Indian Aluminum
Co. Ltd. Rs. 190 per share.

- Indian Aluminium Co. Ltd. became a subsidiary of the Aditya Birla
flagship company Hindalco Industries Ltd., which has taken up a 74.6
per cent equity stake in Indal.

- Crisil has reaffirmed the highest safety rating for the Rs. 100-crore
non-convertible debenture programme of Hindalco Industries and very
strong safety for its Rs. 50 crores commercial paper programme.

- The Company acquired a majority ownership of 54.62% in the company
from Alcan Aluminium Limited, Canada. It acquired an additional 20%
stake pursuant to the open offer under the SEBI Regulations, 1997.

- The Company of the Aditya Birla Group has made a strategic move to
implant the legendary 'prata' and allied management information
services systems at all operational locations of Indian Aluminium
Company Ltd.

- Hindalco Industries proposes to buy 10 per cent stake in Bihar
Caustic & Chemicals from Grasim Industries,

- Hindalco has recently acquired from Alcan Aluminium (Alcan) around
38.84 million shares of Indian Aluminium Company, (Indal) aggregating
to 74.6% holding. Indal's strength in Alumina and downstream products
would ideally dovetail with Hindalco's strong presence in metal. It is
also among the world's lowest cost aluminium producers.


-Hindalco has embarked on a brownfield expansion in Renukoot. It will
enhance the smelter capacity by 1,00,000 TPA and the alumina refining
capacity by 210,000 TPA. A matching increase in the captive power
generating capacity is also on the anvil. So consequent to its
completion, aluminium smelting capacity will increase to 3,42,000 MTPA.
Alumina refining capacity will be augmented to reach 6,60,000 MTPA and
power generation capacity will stand raised to 769 MW. The project is
being implemented at a cost of Rs. 18 billion and is slated for
completion in a phased manner, largely by end 2002-03.

-The company recently entered the Rs 250-crore branded foils market
under the 'Hindalco Wrap' brand name. With this launch, the company
wants to address a category in the FMCG sector. Launched in 54 cities
across the country, Hindalco Wrap is currently available at most retail
outlets in a unique dispenser pack at Rs 42 for a nine metre roll. The
company also plans to enter the aluminium-based kitchen utility
products market in a big way.

-Hindalco, Indal marketing division integrated

-Launches its new product 'Aura' aluminium wheels

-Board of Directors approves buyback of shares

-Mr Rajendra K. Kasliwal, Chief Financial Officer, named the winner of the CFO Asia Pricewaterhouse Coopers Achievements in Best Practices Awards for 2002 for managing external stakeholders

-Receives the FICCI-Socio Economic Development Foundation's (FICCI-SEDF) Social Responsiveness Award for the year 2001, for its projects on rural development and promoting economic self-reliance in over 334 villages

-Birlas increase stake in the company to 22.8% from 21.4%

-Acquires 4% stake in National Aluminium Company Ltd. (Nalco)

-Makes open offer to acquire 25.5% stake in Indal at Rs 120 per share

-Indo Gulf's investments in group firms transferred to Hindalco Industries

-Hindalco Industries Board approves sale of equity shares in Mangalore Refineries to ONGC

-Hindalco discontinues scheme of buyback

-Sebi stalls Hindalco's Indal open offer

-Temporarily shuts down Gurdari mines


-Commissions 11th potline

-Acquires Nifty Copper Mine of Australia for Rs 225 crore

-Copper Business of Indo Gulf Corporation Ltd merged with the company with effect from Feb 12, 2003, swap ratio fixed at 1:12 (1 share of Hindalco for 12 shares of Indo Gulf Fertilisers held)

-Gives boiler contract of Rs 87 crore to Alstom Projects India Ltd.

-Aditya Birla Group divests its Equity Stake in Mangalore Refinery & Petrochemicals Ltd. (MRPL) to Oil & Natural Gas Corporation Ltd. (ONGC)

-Hindalco Industries Ltd executes scheme of amalgamation involving Hindalco Industries Ltd., Indo Gulf Corporation Ltd. & Indo Gulf Fertilisers Ltd.

-Acquires 2.98 pc stake in Indian Rayon & Industries, enhances holding to 12.80% percent

-Picks up 30-pc stake in Bihar Caustic & Chemicals Ltd., increases the stake to 50%

-Hindalco increases its holding in Grasim to 3% and in Indian Rayon to 12.79%

-Shareholders approve to delist equity shares from three stock exchanges (Madras, Calcutta & Delhi Stock Exchanges)

-Divests its entire stake in Indo Gulf Fertilisers Ltd. (IGFL)

-Appointed Mr. D Bhattacharya as Managing Director

-Acquired Mount Gordon copper mine in Australia


-Hindalco Industries Ltd. has informed that the Delhi Stock Exchange Association Limited, New Delhi, has informed the Company that it has delisted the Equity shares of the Company from its Stock Exchange w.e.f. December 29, 2003 pursuant to the application made by the Company to it for voluntary delisting of its Equity shares.

-Hindalco Industries Ltd. has informed that the Madras Stock Exchange Limited has informed the Company that it has delisted the Equity shares of the Company from its Stock Exchange wef January 07, 2004 pursuant to the application made by the Company to it for voluntary delisting of its Equity shares.

-Hindalco Industries Ltd has informed that Shri Sanjeeb Chatterjee has been appointed as Company Secretary of the Company w.e.f. February 1, 2004 with cessation of Shri Anil J Jhala as Company Secretary.

-Hindalco Industries expansion for enhancing the capacity of Copper Smelter

-Birla Copper acquired two mines in Australia.

-Hindalco Industries signs an agreement with ST Telemedia & TM International to acquire stake in Idea Cellular

-Hindalco inks MoU with Orissa Govt to set up aluminium complex

-Hindalco signs agreement with UAE based Foodco


- Hindalco Industries Ltd has announced that on October 30, 2006 the Company has entered into a Joint Venture partnership with ALMEX USA, Inc., for the manufacture of High Strength Aluminium Alloys for applications in the aerospace, sporting goods and surface transport industries.


-The company has issued rights in the ratio of 3:7at a premium of Rs.95/- Per Share.


- Hindalco Industries, Aditya Birla group flagship firm, has decided to cut its overseas operations and is restructuring its capital expenditure in India in an effort to stabilise operations. As part of this overall plan, Novelis, which Hindalco acquired for $6 billion in 2007, is closing its sheet mill at Rogerstone in the UK, involving 440 job losses.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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