- The Company was incorporated.On its incorporation, the Company acquired
and took over as a going concern the business of A.T. Mirza, carried
on under the name and style of American paint and Varnish Company.
- The company manufactures and sell paints and enamels, varnishes,
oils, pigments, colours, alkyds and resins, waterproof coatings and
components and its products are marketed under the trade marks and
names, viz., 'Nerolac', Glossolite', 'Palm Tree', 'Solidier' and
- The Company was the first in India to manufacture phthalocyanine
pigments on a commercial scale.
- In April, Lead Industries Ltd., who were having considerable paint
manufacturing interests in U.K., acquired the entire share capital of
- All shares held by Goodlass Wall & Load Industries, Ltd. U.K. 4,010
shares issued as Bonus shares.
- 54,000 Bonus shares issued in prop. 3:1.
- Converted into a public limited company. 6 shares issued to directors. 17,994 shares offered at par to the public in June.
- 36,000 Bonus shares issued in prop. 2:5.
- 90,000 Bonus shares issued in prop. 5:7.
- 10,80,000 Rights Equity shares issued in prop. 1:2.
- The Company issued 50,000 - 15% secured redeemable non-convertible
debentures of Rs 100 each. Out of this, 5,000 debentures were
privately placed with Army Group Insurance Fund and Kasturba Health
Society. The remaining 40,000 debentures were privately placed with
Unit Trust of India.
- The Company proposed to issue 2682113 Rights equity shares of Rs 10
each at a premium of Rs 90 per share in proportion 1:4. It was also
proposed to issue through a prospectus shares to the tune of 1.5
- Saurashtra Paints Ltd., with a paid-up capital of Rs 50,00,000 and
GNP (Chennai) Ltd., with a paid-up capital of Rs 50,00,000 are wholly
owned subsidiaries of the Company.
- It entered into technical collaboration agreement with Kansai Paint
Co. Ltd., Japan for import of know-how for the manufacture of Cationic
Electrode positors powder.
- The Company made an application to Maharashtra Industrial Development
Corporation seeking allotment of land confirming to chemical zone to
shift a part of the capacities of the Lower Parel factory.
- The Company entered into technical assistance agreements with Kansai
Paint Co. Ltd., Japan and with Nihon Tokushu Toryo Co. Ltd., Japan for
the manufacture of sophisticated coatings.
- The Company received approval from the Government of India for
establishment of capacity of 15,000 TPA and also for shifting of a
portion of capacity from Lower Parel to Lote Parshuram, a notified
backward area in the Ratnagiri district of Maharashtra.
- Authorised capital increased. During April/May 32,40,000 Rights
shares allotted at a premium of Rs 20 per share in the ratio 1:1.
4,86,000 shares allotted to retain oversubscription, 1,62,000 shares
allotted to employees and additional 24,300 shares allotted to retain
- The unit at Kanpur, set up with a licensed capacity of 15,000 TPA of
paints, enamels and varnishes commenced commercial production.
- 35,76,150 bonus equity shares issued in proportion 1:2.
- The Company entered into a technical assistance agreement with E.I.
du Pont de Nemours and Co. Inc. U.S.A. for the manufacture of
sophisticated coatings for automotive sector. Also entered into
another agreement with Kansai Paint Co. Ltd., Japan for manufacture of
sophisticated architectural coatings.
- 10,00,000 No. of Equity shares (Prem. Rs 240 per share) issued on a
private placement basis. 35,76,150 Right equity shares (Prem. Rs 60
per share) issued in prop. 1:3.
- The Company has also entered into another Agreement with Kansai Paint
Co. Ltd., Japan, for manufacture of sophisticated architectural
- Mr. H. Iwamoto has been appointed as an Additional Director of the
Company with effect from 6th June.
- Mr. M. Kume has been appointed as a Director of the Company with
effect from 22nd July, in the casual vacancy caused by the resignation
of Mr. T. Shiraiwa.
- The Company has Technical Assistance Agreements with E.I. du Pont de
Nemours and Company Inc., USA for the manufacture of sophisticated
coatings for automotive sector and with Kansai Paint Company Ltd.,
Japan, for manufacture of sophisticated architectural coatings.
- The Company has also entered into a Technical Assistance Agreement
with Oshima Kogyo Company Ltd., Japan, for manufacture of heat
- 43,500 No. of Equity Shares of Rs. 10 each are allotted as fully
paid-up pursuant to contracts without payments being received in cash.
- 54,16,250 No. of Equity Shares of Rs. 10 each are allotted as fully
paid-up by way of Bonus Shares by capitalisation of Share Premium,
Profits and Reserves.
- Goodlass Nerolac, a subsidiary of Kansai Limited, has launched a new
plastic exterior paint - 'Nerolac Suraksha'.
- Kansai Paint Co. Ltd., Japan, the Company's foreign collaborator and
one of the Promoters of the Company, acquired 43,71,152 shares
amounting to 28.56% of the paid-up Share Capital of the Company from
Forbes Gokak Ltd. and their associates, the other Promoter of the
Company, at a price of Rs. 250 per share.
- Mr. S.M. Datta has been appointed as an Additional Director of the
Company on 17th May.
-Launches a ' magic eye' a spectrophometer.
-Board approves the following:
1) Scheme of Amalgamation of GNP (Madras) Ltd., Perungudi, Tamil Nadu and Saurashtra Paints Ltd., Vatva, Ahmedabad, Company's wholly owned subsidiaries with the Company. The scheme of amalgamation is subject to the approval of the Shareholders, concerned Hon'ble High Courts and completion of other statutory formalities.
2) The enhancement of capacity at the company's factory at Jainpur, Kanpur Dehat, U.P. subject to statutory clearance. The cost involved for capacity enhancement is estimated at about Rs.90 million.
-Launches 'Har Din Diwali offer' through which consumers were be able to win 22-carat gold coins, the bumper prize being Mahindra & Mahindra's SUV, Scorpio
-Goodlass Nerolac constitutes Creative Analyst Team (CAT) for people Management.
-The company is taking its corporate logo, Goody the tiger, and branding it exclusively for rural markets.
- Goodlass Nerolac Paints launches Nerolac Plastic Emulsion, an economy acrylic emulsion for interior decor
-Kansai Nerolac Paints Ltd has appointed Mr. Pradip P Shah as an Independent Director on the Board of Directors of the Company.
-Kansai Nerolac Paints Ltd has appointed Mr. Noel N Tata as an Independent Director on the Board of Directors of the Company with immediate effect.
-Kansai Nerolac Paints Ltd has informed that the Company has won the ICSI National Award for Excellence in Corporate Governance, 2007, instituted by the Institute of Company Secretaries of India. The award was presented to the Company in Kolkata on November 26, 2007.