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Restile Ceramics Ltd. Company History and Annual Growth Details

YEAR EVENTS
1986 - The Company was incorporated at Hyderabad, Andhra Pradesh on 26th
May, as a private limited company and converted into public
limited company on 10th December, 1988.

- The Company was originally Promoted by Shri V. Padmakar and Shri
P V L N Raju. Subsequently the Company has been brought into the
assisted sector by the Equity participation from APIDC and
technical and financial collaboration and M/s. MORI-SPA, Italy.

- The main objective of company is to manufacture vitrified
unglazed and glazed ceramic floor and wall tiles and other
ceramic products.

- The Company undertook to set up a plant on a plot of land
admeasuring 12 acres at Malkapur village in Medak District of
Andhra Pradesh for the manufacture of 12,000 TPA of fully
vitrified unglazed medium and heavy duty ceramic floor and wall
tiles in plain and granite finishes in various sizes, colours
and textures including mirror polished in technical collaboration
with Mori-Spa, Italy.

- Major plant and machinery such as hydraulic presses, horizontal
infra-red continuous drier, fast firing roller kiln were imported
from MORI-Spa and polishing line was supplied by Pedrini-SpA,
Italy.

- The company entered into technical collaboration agreement with
Mori-SpA, Italy, for providing technical know, supplying major
plant and machinery and assisting in erection and installation of
plant. The agreement also provides for the guarantees for
quality, capacity of output, consumption of raw
materials/duration of the performance run, etc.

1991 - 85,50,000 No. of equity shares issued at par out of which the
following shares were reserved and allotted:

- (i) 17,00,000 shares is promoters, Indian resident directors,
etc.;

- (ii) 2,50,000 shares to M/s. Mori-SpA, Italy;

- (iii) 10,00,000 shares to Mutual Funds and venture capital Funds
and

- (iv) 5,00,000 shares to APIDC.

- Another 4,27,500 shares were reserved for preferential allotment
to employees, etc. of the Company and those of promoter companies
out only 3,47,700 shares taken.

- The balance 46,72,500 shares along with 79,800 shares not taken
up by employees, were offered to the public in December.
Additional 8,92,988 shares were allotted to retain
oversubscription (7,65,000 shares to the public and 1,27,988
shares to promoters, etc.).

1994 - The production, capacity utilisation and turnover would have
been higher but for the increase in input cost due to the steep
hike in the cost of LPG by 78% and erratic power supply. The
company commissioned an additional generator to improve the yield
and quality of the output from the kiln.

1995 - During the year, the company developed special range of smaller
sized and thinner tiles for effective applications on the
elevation of the buildings which was expected to receive good
demand from market.

2008

-The company has issued rights in the ratio of 26:35 at a premium of Rs 0/- Per Share.

2009

- Restile Ceramics Ltd has informed that the Board of Directors of the Company at its meeting held on July 11, 2009, inter alia, has appointed Mr. Padmanabhan as an Additional Director in Independent Capacity to hold office till conclusion of ensuing Annual General Meeting.

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