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Kajaria Ceramics Ltd. Company History and Annual Growth Details

YEAR EVENTS
1985 - The Company was incorporated on 20th December at Kanpur. It
manufactures glazed and unglazed wall & floor tiles. The
company obtained the certificate of commencement of business on
20th January 1986. It was promoted by Shri Ashok Kumar Kajaria,
his associate and Kajaria Exports Ltd.

- The Company entered into a technical colloboration agreement with
Todagres S.A., Spain for the manufacture of ceramic glazed wall &
floor tiles.

- The agreement provides for supply of technical know-how and
manufacturing assistance necessary design, drawings,
specifications and also train the company's personnel and provide
technical assistance for the setting up of the plant.

- The company undertook a project to set up a plant for the
manufacture of 12,000 tpa of ceramic glazed wall/floor tiles in
various shades. The plant is located on a plot of 17.5 acres
acquired from UPSIDC at Sikandrabad Industrial Area in
Bulandshahr district of U.P. main plant and machinery was
supplied by Sacmi Imola and Omis Due SPA of Italy.

- Three D.G. sets of a total capacity of 835 KVA were installed to
meet contingent power requirement.

- The company has an obligation to export 25% of the production for
a period of 5 years from the date of commercial production. It
was hopeful of meeting the export requirement with the help of
the promoter company, Kajaria Exports, Ltd.

- The company received the necessary registration for the expansion
of the installed capacity from 12,000 tpa to 26,000 tpa.

1987 - 700 shares subscribed for by the signatories to Memorandum of
Association. 53,32,700 shares then issued at par of which the
following were reserved for allotment:

- (i) 23,32,700 shares to promoters, Indian resident directors,
etc. (incl. 7,50,000 shares to Kajaria Exports Ltd.):

- (ii) 8,00,000 shares on repatriation basis to NRIs and NRI
Companies owned predominantly by NRIs.

- Out of the remaining 22,00,000 shares, the following were
reserved for preferential allotment:

- (i) 2,66,600 shares to employees, Indian working directors,
workers of the Company and employees of the Kajaria Exports Ltd.
(only 11,400 shares taken up) and

- (ii) 5,00,000 shares to NRIs on repatriation basis only 39,600
shares taken up). The balance 14,33,400 shares, along with
unsubscribed 17,15,600 shares of preferential quotas, were
offered to the public in September 1988. Additional 8,00,000
shares allotted to retain over-subscription.

1989 - The company maintained an average capacity utilisation of 120%.
The company started exporting tiles to the Gulf countries,
Europe and Bangladesh. New range of tiles were introduced in the
market. Various new designs and prints were introduced in the
market.

- The expansion programme was on the verge of completion and
production at the expanded capacity was expected to commence in
June, 1990.

- During August/September, the company offered 3,22,000-14% secured
fully convertible debentures of Rs. 100 each for cash at par.
Out of these 3,06,670 debentures of Rs. 100 each were offered on
Rights basis to the existing shareholders in the prop. 5
debentures: 100 Equity shares (all were taken up).
Simultaneously, 15,330 debentures of Rs. 100 each were offered to
the employees and Indian working directors of the Company on an
equitable basis (only 785 debentures were taken up).

- Additional 31,455 debentures along with the unsubscribed portion
of 14,545 debentures from employees quota were allotted at the
discretion of the directors.

- As per the terms of issue, part 'A' of Rs. 40 of each debenture
was converted at par into four equity shares of Rs. 10 each at
the end of six months from the date of allotment of the
debentures. Accordingly 14,13,820 shares were issued. The
remaining part of Rs. 60 was converted into 3.53 number of equity
shares of Rs. 10 each at a premium of Rs. 7 per share on 15th
December, 1991.

1990 - A further expansion of installed capacity from 26,000 MT to
40,000 MT was being implemented.

- 14,13,820 shares allotted at par in conversion of debentures
(Part 'A').

1991 - The company was awarded 'CAPEXIL' special exports award for the
year 1992 for being the largest exporter of ceramic tiles from
the country.

- The company proposed a further expansion of the installed
capacity to 60,000 MT.

- 12,47,696 shares allotted (prem. of Rs. 7 per share; prop. 1 deb:
3.53 shares) in conversion of deb. (Part 'B').

1993 - The company proposed a further expansion of the installed
capacity to 1,30,000 MT with the support of technical
collaborators M/s. Todagres SA of Spain.

- During July, the company issued 21,98,729 - zero interest
unsecured fully convertible debentures of Rs. 70 each at par on
Rights basis in the proportion of 1 debenture: 4 equity shares
held.

- Another 5,49,671 - zero interest unsecured fully convertible
debentures of Rs. 70 each at par were issued on preferential
basis to promoters, directors and their friends, including group
companies.

- Each debenture of Rs. 70 will be converted into 2 equity shares
of Rs. 10 each at a premium of Rs. 25 per share on expiry of 9
months from the date of allotment or on 1st April, 1994,
whichever is earlier.

1994 - During the year the company successfully launched wall tiles
manufactured with single firing technology which was well
accepted in the market.

- The company proposed to issue 2,00,000 - 14% Non-Convertible
debentures of Rs. 100 each at par to financial
institutions/Mutual funds on private placement basis.

- 54,96,800 No. of equity shares allotted on conversion of Zero
Interest Unsecured fully convertible debentures.

1995 - 4,25,000 No. of equity shares allotted to IFCI in terms of
exercise of conversion option under loan agreement.

2003

-The Members approved the of Mr. Rishi Kajaria as Director on the Board and ratification of re-appointment of Mr D.D.Rishi in the capacity of Jt.Managing Director of the Company for a period of 5 years and volunatry delisting of equity shares from U P Stock Exchange Association Ltd.,Delhi Stock Exchange Association Ltd. and Calcutta Stock Exchange Association Ltd.

-Kajaria Ceramics Ltd has informed that the securities of the company have been delisted from the Delhi Stock Exchange Association Ltd w.e.f December 10, 2003.

2004

-Kajaria Ceramics Ltd has informed that consequent upon acquisition of R&TA Division of M/s Computech International Limited by M/s MCS Limited, the Registrar & Transfer Agent of the Company stands changed from M/s Computech International Ltd to M/s MCS Limited. The change of the same has been approved by the Board of Directors in their meeting held on December 26, 2003. The address, telephone numbers etc of the new Registrar & Share Transfer Agent are as follows : M/s MCS Limited, W-40, Okhla Industrial Area, Phase-II, New Delhi 110020; Phone: 011-26384909, 910, 911; E-mail: mcsdel@vsnl.com.

-Commenced the commercial production of its additional capacity of 2 million sq mtr per annum on February 27, 2004, with an investment of Rs.340 million at Gailpur Plant. With this expansion, the aggregate capacity of the company has become 14 million sq.mtr per annum.
 
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