Home  »  Company  »  Saint-Gobain Sekurit India Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Saint-Gobain Sekurit India Ltd. Company History and Annual Growth Details

YEAR EVENTS
1972 - The company was originally incorporated as Private Limited
Company on 13th November. The company became a deemed Public
Ltd. company with effect from 10th February 1987. It was
promoted by the Atulglass group for manufacture of automobile
glasses under the trade name 'Atultuf'. The products are mainly
supplied to Telco, Premier Automobiles, Hindustan Motors, Tempo
etc.

- The main objective of the company is to manufacture automobile
glasses such as windscreen, backlite, doorlites and all kinds of
tempered glasses used for automobiles railways, transport
corporations etc.

- The company received an industrial licence for increasing the
capacity of flat tempered glass from 2,50,000 sq. mtrs. to
4,35,000 sq mtrs. per annum and that of curved automobile screens
from 2,00,000 pcs. to 3,00,000 pcs. per annum.

- These products were expected to substitute the import of
speciality glass viz., Solar panels, filter screens for TV,
automobile glass for fuel efficient cars etc. Also, it would
cater to manufacture of absolutely straight and optically
flawless tempered glass ranging in thickness from 3 mm to 12 mm.

1986 - 5,350 shares of Rs. 100 each take up by promoters, directors,
etc. 3,600 shares of Rs. 100 each allotted in conversion of
loans. Equity shares of Rs. 100 each subdivided into shares of
Rs. 10 each.

1987 - 1,50,000 Right shares issued at par in prop. 5:3, 2,40,000 bonus
shares then issued in prop. 1:1 and allotted on 18-3-1988.
Subsequently, another 20,000 shares issued for cash at par.

1988 - With effect from 1st October, Maharashtra Mirror Industries Pvt.,
Ltd., was amalgamated with the company. Consequent upon this
merger, members of Maharashtra Mirror Industries, Ltd. were
allotted 20,000 No. of equity shares of Rs. 10 each of the
company at par without payment in cash.

- 7,20,000 shares issued at par of which 36,000 shares reserved for
preferential allotment to employees, etc. but none were taken up.
The balance 6,84,000 shares, along with 36,000 shares not taken
up by employees were offered to the public in October.
Additional 1,08,000 shares allotted to the public to retain
oversubscription.

1991 - The company proposed to add most modern machinery and balancing
equipments in order to upgrade the technology and enhance the
installed capacity of the glass unit.

- The company had set up a vegetable oil solvent extraction plant
of 200 tpd capacity.

1992 - During March, the company issued 1,27,760 - 12% secured fully
convertible debentures of Rs. 150 each on rights basis in the
proportion of 1 debenture: 10 equity shares held. Additional
27,260 debentures were allotted to retain oversubscription.

- Another 6,740 debentures were offered to the employees. All were
taken up.

- Each debenture will be converted into 10 equity shares of Rs. 10
each at a premium of Rs. 5 per share on the expiry of 9 months
from the date of allotment of debentures.

- 16,17,600 shares allotted on conversion of debentures.

1993 - The company alongwith Atul Glass Industries Ltd. entered into a
Memorandum of Understanding with Saint Gobain Vitrage S.A. of
France to set up a joint venture company for manufacture of
Laminated Safety Glass Windscreen for Automobiles.

- The MOU provides for equity and technical collaboration of Saint
Gobain in the new venture and also in Maharashtra Glass & Agro
Ltd. and Atual Glass Industries Ltd. to enable the joint venture
to provide comprehensive service to automobile industry and also
to strengthen the quality of its products to international level.

- The company entered into agreement with M/s. Tamglass, Finland
for supply of complete plant alongwith technical know-how. The
major plant and machinery consisted of Horizontal Oscillating
glass tempering furnace, 3 mm unit for tempering furnace,
frequency convert etc.

1994 - New green field plant for the manufacture of Laminated Safety
Glass windshield glazings and automotive glasses was being set up
at Chakan near Pune.

- 29,65,600 right equity shares allotted (prem. Rs. 3) in the ratio
of 1:1.

1995

-Maharashtra Glass and Agro Ltd. has sold its vegetable oil division

1997

-Decides to defer its decision to increase the stake in Pune-based Maharashtra Glass and Agro Ltd from 26 per cent to 51 per cent.

-Maharashtra Glass and Agro Ltd has been approved by the latter's board. The directors okayed the issue of 40 88 100 preferential shares to the $14 billion French industrial conglomerate.

2001

-Saint Gobain group is merging its recently-acquired refractory businesses into its wholly-owned subsidiary SEPR Refractories India with an investment of Rs 40 crore. The Saint Gobain group has also acquired from Grindwell Norton its fused cast refractories business

2003

-Company has paid Rs.2,40,71,424/- to the Sales Tax department against complete settlement of Deferred Sales Tax liability of Rs.7,39,80,203/- under the prepayment scheme announced by the Government of Maharashtra.


2004

-Delists shares from Delhi Stock Exchange
 
Subscribe now to get personal finance updates in your inbox!