- The Company Incorporated at Hamira (N.R.).
- A plant was set up to produce carbon dioxide gas.
- The Production facilities were sustantially expanded by the setting
up of modern and up-to-date plants, using the latest manufacturing
techniques, for the manufacture of malt and malt extract.
- A plant was set up for the manufacture of malted milkfood under the
brand name 'OVALTINE' in technical collaborated with Wander Limited,
- The Company started selling malt whisky under the brand name
- Malted milk under the brand name 'VIVA' manufactured in the malted
milk food plant, was placed in the market.
- Another whisky under the brand name of 'BONNIE SCOT' was introduced.
- In December, a new malted milkfood product under the brand name
'MALTOVA' manufactured with indigenous know-how was launched in the
- Universal Glass Ltd., was amalgamated with the Company with effect
from 1st January. In terms of the Scheme of Amalgamation, members of
Universal Glass Ltd., were allotted without payment in cash 65,402 -
11% second preference shares of Rs 10 each and 30.201 - 11% debentures
of Rs 75 each of the Company.
- 75,000-13.5% non-convertible debentures of Rs 100 each offered as
rights in April. Only 73,277 debentures taken up. Rate of interest on
these debentures was subsequently raised to 15%. The debentures were
redeemable at par in 4 equal instalments in the 7th, 8th, 9th and 10th
year from the date of allotment of the debentures.
- 4,954-9.5% pref. shares redeemed. 65,402-11% pref. shares issued
without payment in cash to shareholders of Universal Glass Ltd., on its
merger. Dividend on these pref. shares raised to 13.5% w.e.f.
- 10,021 pref. shares redeemed. 14,14,514 bonus equity shares issued
in prop. 1:1.
- Potato chips under the brand name 'BINNIES' and PET containers were
introduced. They were well received in the market.
- 30,29,028 bonus equity shares issued in prop. 1:1.
- The Company raised a sum of Rs 400 lakhs by the issue of privately
placed debentures of Rs 200 lakhs each with SBI Mutual Fund, Mumbai and
Merwanjee Bomanjee Dalal (since transferred to UTI). These are
redeemable at a premium of 5% at the end of 7 years from 8th May.
- The Company issued 5,00,000 - 15% non-convertible debentures of Rs.
100 each on private placement basis. These are redeemable at a premium
of 5% at the end of 7 years from the date of allotment of debentures.
- The reduction in profit in the year under report was caused by a
strike for about four months due to labour unrest in the Glass Factory
located at Sahiabad.
- During the year Non-Convertible Debentures of Rs.500 lacs were issued
and an amount of Rs.16.12 lacs was paid towards redemption of
Debentures as per details given in Schedule '3'.
- L.P. Investments Limited and Binnies Estates Limited, subsidiaries of
the Company, for the period ended 31.3.1992.
- 60,58,056 bonus equity shares issued in prop. 1:1.
- The Company incorporated a joint venture with Hiram Walker of U.K.
with 50% equity partipation under the name Hiram Walker (India) Ltd.
- The Company signed another 50:50 joint venture agreement with Brown
Formen Corporation USA for alcoholic beverages in India.
- 121,16,112 bonus equity shares issued in prop. 1:1.
- The Company expects rise in its Liquor business as Haryana which had
introduced prohibition and reversed its policy.
- In May, the Company successfully issued 12,60,500 Global Depository
Receipts each representing 20 underlying equity shares at an offer
price of US $13.00 per GDR.
- Sales and other income rose marginally to Rs 396.37 crores. The
Company expects rise in its Liquor business as Haryana which had
introduced prohibition and reversed its policy.
- 25,210,000 equity issued in pursuant to the GDR issue.
- Jagatjit Industries, which broke off with its joint venture partner
Hiram Walker a fortnight ago, has plunged into deeper trouble with the
company's recently appointed president Satish Kaul putting in his
papers late last week.
- The company has set a target of 10 per cent of the share to begin
with in the initial year.
- Brown-Forman Beverages Worldwide, one of the largest producers and
distributors of American whiskey, in collaboration with Jagatjit
Industries Ltd., launched Forester 1870, Kentucky Straight bourbon
whisky in India.
- Jagatjit Industries entered into the joint venture with Brown-Forman
after parting ways with Hiram Walker of the Teacher's Scotch Whisky
- Brown-Forman, through its JV with Jagatjit, has already introduced
some of its whiskeys in the country. Southern Comfort (Brown and
Crystal) was the first brand to be launched in early 1997.
- Jagatjit Industries offers family nutritional drinks like Maltova,
Viva and Complan through its wholly owned subsidiary Milkfood Limited.
- The company has one of the most envied distribution networks in the
- Jagatjit manufactures potable and industrial alcohol with an
approximate market share of around 10 per cent.
- The company has established Aristocrat as a leading whiskey brand in
northern India. Apart from alcohol, the company also manufactures milk
products. The company has an established market share and has been
performing reasonably well. It has also entered into joint ventures
with various international manufacturers to bring in foreign brands.
- The company has not been able to penetrate the health drinks segment
where it faces stiff competition from established foreign players such
as Cadbury's India and Nestle, among others.
2000 - No news.
-Jagatjit Industries replaces Godrej Foods in BSE-500