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Neulands Global Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1986 - The company was incorporated on 22nd August, under the name of
Sujana Domestic Appliances Ltd. and obtained the Certificate of
Commencement of Business on 22nd January, 1987. The company is
promoted by Mr. Y. Jithin Kumar and V. Satyanaryana Chowdhary.
The Main object of the Company is to manufacture fans, washing
machines and other domestic appliances. The Company manufactured
ceiling fans and introduced them in the market in July 1987 under
the name 'PADMINI'.

1989 - 8,79,533 No. of equity shares issued at par of which 2,53,733 No.
of equity shares to promoters and their associates and 1,00,000
shares to SBI Mutual Fund were reserved and allotted on a firm
basis. Another 53,460 shares were reserved for preferential
allotment to employees of the Company. (only 26,400 shares taken
up). The Balance 4,72,340 shares, alongwith 27,060 shares not
taken by employees, were offered to the public in October, 1989.
Additional 1,60,300 shares were allotted to retain
oversubscription (66,500 shares to promoters, etc. and 93,800
shares to public).

1992 - During September-October, the Company offered 36,88,500 No. of
equity shares of Rs 10 each at a premium of Rs 7.50 N.P. per
share as Rights in the proportion 3:1 (all were taken up).
Additional 209 shares allotted to retain oversubscription.

- Simultaneously another 1,84,425 No. of equity shares of Rs 10
each were offered to the employees at a premium of Rs 7.50 N.P.
per share on an equitable basis (only 1000 shares taken up).
Unsubscribed portion of 1,83,425 shares was allowed to lapse.

1994 - The Company launched a new brand of ceiling fan under the brand
name of 'ZEPPHYRE' which was well accepted in the market. The
Company also proposed to introduce washing machines.

- WMW Exports & Imports of United Germany provided through their
Indian agents Easun Engineering, Ltd., assistance for supply,
erection and commissioning of the bearings plant. Inductotherm,
Ltd., India who have collaboration with Inductotherm USA provided
assistance for the castings division.

- The company proposed to establish Sponge Iron project in Andhra
Pradesh after obtaining necessary approvals.

1995 - The fans division introduced the 'Padmini & Zephyre' brand of
ceiling fans.

1996 - The fans division entered into an agreement with
distributor-dealer network to increase its sales of Zephyre &
Padmini fans.

- The Company proposed to expand its domestic appliances product
range by introducing exhaust fans, cable fans and pedastal fans
apart from domestic appliances such as electric toasters, water
healers, emmersion heaters etc. under the name 'SUJANA'.

- The Company undertook a new project involving the establishment
of two divisions, viz., (i) Castings division with an annual
capacity of 10,000 tons; and (ii) Bearing division with an annual
production capacity of 15,00,000 nos. as a measure of backward
integration for the existing manufacture of fans.

- The Company undertook an expansion programme to add 6.1 million
nos. per annum of ball bearings of which 4.5 millions was for
ball bearings and another 1.6 million for tapes roller bearings.

- 23,38,000 No. of Equity shares allotted at a premium of Rs 15 per
share on preferential basis.

2005

-Sujana Universal has signed up with Bajaj Electricals Limited as an OEM supplier.

2006

- Increase of Authorised Share Capital of the Company from Rs 80.00 Crores to Rs 110.00 Crores.
 
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