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Kaira Can Company Ltd. Company History and Annual Growth Details

YEAR EVENTS
1962 - The Company was Incorporated on 1st March, at Mumbai as a private
company and made public company on 27th April, 1967.

- The Company's object is to manufacture open top sanitary cans,
general line cans and special containers for the dairy industry
with special reference to the requirements of the Kaira District
Co-operative Milk Producers' Union Ltd., Anand.

- The Company entered into a 5 year technical collaboration
agreement with Lubecawerke GmbH, West Germany, a firm well known
in the field of scientific packaging.

1967 - 7,524 No. of equity shares subscribed for by Poysha Industrial
Co., Ltd. The remaining shares offered for public subscription
in June.

1970 - Negotiations were finished for a technical collaboration
agreement with American Can Company for a period of 10 years.
Government approval for the agreement was received during
1972-73.

1972 - 5,000 Bonus equity shares issued in the prop. 1:2.

1976 - 4,500 right equity shares issued at par in prop. 3:10.

1977 - 19,500 right equity shares issued at par in prop. 1:1 in January
1978.

1979 - The Company's collaborators, American Can Co. U.S.A., offered
to the Company a used printing/coating line, the foreign exchange
cost of which was considerably less than new equipment. The
expansion from 30 to 60 million numbers per annum was completed.
The Company applied for further expansion of the capacity to 120
million numbers per annum.

- Pref. shares redeemed on 24th June.

1980 - The capital goods licence for used printing line was received.

- The Company was permitted to expand its capacity from 60 million
containers per annum to 18,000 tonnes tin-plate per annum
roughly equivalent to 100 million containers. Necessary steps
were being taken to implement the project.

- 15,600 bonus shares allotted in prop. 2:5 on 5th March.

1981 - Equity shares subdivided. 3,27,600 bonus equity shares then
issued in prop. 3:5.

1982 - Despite demand recession, sales and profits could be maintained.
The improvement in working was partly due to reduction in tax
rate on account of investment in the expansion project.

- The first phase of the expansion project of 18,000 tonnes tin
plate per annum was commissioned at Mehsana and Kanjiri.

1983 - Sales recorded an increase mainly due to higher sales realisation
and also party due to higher volume of production. Due to
inadequate supply of tin-plate, the company had to use high cost
material of odd sizes and thickness resulting in high wastages.

1985 - Margins, however, came under pressure due to high interest
charges arising out of expansion and modernisation programme and
inordinate delay experienced in the import of large consignments.

1986 - The improved turnover was mainly due to supplies made to edible
oil industry and exports of printed sheets and components to the
Middle East. However, margins came under pressure due to delay
in the availability of imported tin-plates.

1987 - The improved turnover was mainly due to better realisation of its
products and by higher volume of production.

1990 - Sales declined due to continuous erosion in the Rupee value which
led to a substantial increase in the landed cost of tin-plate.

- 1,50,000 - 14% secured redeemable non-convertible debentures of
Rs.100 each were issued on private placement basis. They are
redeemable at a prem. of 5% of the face value in three equal
annual instalments commencing from the expiry of the 6th year
from the date of allotment i.e., 8th February, 1991.

2003

-Board approves rights issue of equity shares of Rs 10 each at a premium of Rs 90 per share in the ratio of 1:18

2007

-Kaira Can Company Ltd has has appointed Mr. A B Kulkarni and Mr. K Jagannathan as Additional Directors on the Board of the Company.
 
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