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Orient Bell Ltd. Company History and Annual Growth Details

YEAR EVENTS
1977 - The Company was Incorporated as a public limited company on 18th
May, for manufacture of glazed wall tiles with an installed
capacity of 5000 TPA at Sikandrabad, Dist. Bulandshahr U.P.

- The Company was promoted by C.K. Kejriwal in collaboration with
Agrob Anlagenbau GmbH (Agrob).

- The Company's object is to manufacture glazed white, coloured and
decorative ceramic wall tiles.

1981 - The Company became a subsidiary of Somany Pilkington's Ltd. When
the latter took over the company under a rehabilitation package
from IFCI.

1987 - The Company undertook an expansion programme to increase the
capacity by an additional 10,000 TPA.

1991 - For a number of technical modifications carried out at various
stages and the problem due to the non-release of required power
load, the overall production could have been still higher.

1992 - In order to modernise the plant facilities a gas pipeline was
connected to facilitate conversion from oil firing to natural gas
firing in 1993.

1994 - The press shop was modernised by replacing the mechanical tile
presses with automatic hydraulic presses. To make use to
biscuit tiles, an in-house designed fuel efficient continuous
furnace was constructed.

- The Company undertook to set up a new manufacturing facility of
25,000 tpa adjacent to the existing site. A technical agreement
with Sacmi Impianti S.p.a Italy was signed and an order for
import of plant and equipment placed.

1995 - The Company is emerging as a leading player in the Ceramic Tile
Industry.

- The Company has installed further capacity generation of 1560
KVA. The factory can be fully operational on its captive load.

- The company has installed and proposes to instal energy efficient
machines and equipments for use in the manufacturing activities.

1996 - The production was disrupted due to nil supply of natural gas for
a period of 23 days during January 1997. A shutdown for
maintenance work was also carried out.

- The installed capacity was increased to 52,000 tpa. A new
generating set was hired and installed as back up and the
expansion capacity was implemented.

- During August-September, the Company issued 7,20,000 - 16%
redeemable non-convertible debentures of Rs.100 each in the ratio
of 4 debenturs : 5 equity shares held along with 2 detachable
warrants on Rights basis.

- Each warrant entitles the holder to apply for one equity share at
a prem. of Rs.10 per share. The right is exercisable between
6 to 36 months from the date of allotment of debentures, failing
which the warrants would lapse. The debentures would be
redeemed at par in the three equal instalments, at the end of 6th
7th and 8th year respectively from date of allotment of
debentures.

- Till date 14,18,520 No. of equity shares were allotted on
exercise of warrants.

- 7 No. of equity shares subscribed for by signatories to the
Memorandum of Association. 3,49,993 No. of equity shares
allotted to promoters, directors, relatives and associated
Companies. 90,000 shares allotted to PICOP. During 18th May,
1977, the Company issued through a prospectus 4,60,000 No. of
equity shares of Rs.10 each to the public.

1997 - The authorities have informed of another forthcoming shut down of
natural gas supply during October/November, 1997 for a period of
26 days.

- The funds raised through the issue of 16% - 720,000 Secured
Redeemable Non-convertible Debentures of Rs. 100/- each for cash
at par aggregating to Rs. 72 million on Rights basis, has been
utilised on the project.

- The Company has installed energy efficient machines and
equipments for use in the manufacturing activities.

- The company commissioned its expansion project in March.

1998 - The Company issued 14,40,000 Detachable Warrants along with 16%
Secured Redeemable Non-convertible Debentures in terms of Letter
of Offer dated 2nd August, 1996. The Company has converted
11,56,080 Detachable Warrants into Equity Shares on 31.03.98 and
the Equity Shares, so issued have been listed with Delhi, Mumbai
and Calcutta Stock Exchanges.

1999 - Orient Ceramics and Industries Ltd (OCIL) is planning a Rs 35
crore expansion by increasing tiles manufacturing capacity by 50
per cent to 85,000 tonnes in the wake of increased demand from
the housing sector.

- The Company also introduced India's Largest Wall Tile, measuring
400mm x 300mm.

2000 - The Company has announced its maiden bonus issue in the ratio of
1:1.

- Crisil has upgraded its rating assigned to company's Rs 7.2-crore NCDs
issue from BB+ to BBB-.

- The company has allotted 23,40,000 No. of Equity shares of Rs 10/- each as
fully paid Bonus Shares on 26th Sept. 2000.

- The Company is implementing an Expansion Project for increase in installed
capacity by 40,000 TPA at the existing site.

2007

-The Company has issued Bonus Shares in the Ratio of 5:4.
 
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