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Organic Coatings Ltd. Company History and Annual Growth Details

YEAR EVENTS
1959 - Snowcem India Ltd., was incorporated on 28th January as a Private Limited Company,
promoted by Killick Industries Ltd. and Mr. Geoffrey P. Stevens. Subsequently it became
a deemed Public Limited Company on 28.3.1961 under Section 43(A) of the Companies
Act, 1956. Mr. Geoffrey P. Stevens sold his holdings to George Lillington & Co. Ltd., U.K. in
April 1965 and Killick Industries Ltd sold its holdings to Kosha Investments Ltd. in 1988.

1988 - The Company set up a modern manufacturing facility at Gotan, in Rajasthan, right in the
heart of the white cement manufacturing region.

- The Company set up its third manufacturing facility at Gummidipundi near Chennai. This
plant manufactures Sandtex Matt as well as the copolymer resin base which is an import
substitute.

- The company is presently engaged in manufacture of cement paint in powder and liquid
forms at its factory Chandivali (C), Mumbai, Maharashtra, Powder products at Gotan (G1),
Rajasthan and liquid paints and resins at Gummidipundi (G2), Tamil Nadu with installed
capacity as under on single shift basis, 300 working days a year.

1992 - The company was converted into a Public Limited Company by a resolution passed in the
Extra Ordinary General Meeting held on 18th March.

- The Company started its manufacturing activities at its plant in Mumbai with Snowcem
cement paint. Snowcem India manufactured and introduced waterproof cement paint for
the first time in India and ever since then it has remained the market leader.

- The Company also introduced Impermo - a cement waterproofing compound in its early
years. During the period between 1963 and 1969, more speciality products, namely
Hardcrete, Cemprover, Cemix, Snowfilla and Snowsol were successfully introduced by
the Company.

1996 - The Company made a Public Issue of 25,00,000 No. of Equity Shares of Rs. 10/-
each for cash at a premium of Rs.20/- per share.

- The Company has entered into technical collaboration with M/S. Naigai Ink
Manufacturing Co. Ltd. Osaka, Japan (NIK) The agreement was signed on 12th
August, 1995.

- The Company introduced in the market Water Based Inks and Varnishes, in the
category of In-line coating, Off-line coating, Duct coating & Dry Offset coating.

- The Company have launched Ultra Violet (UV Inks and Varnishes)
in the Gravure, Flexographic Silk Screen and Offset, methods which have applications
in packaging & printing industries.

- The Company also launched Resins for the Printing Ink Industry and the same have
been well received in the market.

- The Company has also signed a 3-year agreement with the representative Union
which is valid upto 31.3.1999.

1997 - Nik Rich Colour (Process Colour Inks) were introduced.

- Shri A.N. Patil, Shri A.R. Shah and Shri M.V. Mehta retire as Director.

1998 - The most important development during the year under review was the ban
imposed by the Central Government on sale of scratchable lotteries.

- The Company's Operations was due to ban on scratchable lotteries by the
Central Government during the year substantially affecting the Company's
sales of UV Inks.

1999 - As the Company's Solvent Inks Division was not giving profits and was a
drag on its operations, the Board decided to close down the Solvent Inks Division
and to concentrate on UV Inks and Water Based Inks and Varnishes.

- During the year the Company achieved ISO 9001 Certification from TUV CERT
certification Body of Rheinisch-Westfalischer for Total Quality Management.

- During the year, a three year wage agreement was signed with the Workers'
Union covering wages, bonus and other allowances.

2000 - The Company has entered into a joint venture agreement with Rainbow
Inks Industries, a firm registered and governed under laws of Nepal.

2010

- Organic Coatings Ltd has appointed Mr. Sudhir Anant Sathe as an Independent Director of the Company w.e.f. February 17, 2010 to fill the casual vacancy caused by the resignation of Mr. Avinash S. Mehendale, Independent Director of the Company.
 
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