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Simplex Realty Ltd. Company History and Annual Growth Details

YEAR EVENTS
1912 - The Company was incorporated at Mumbai. The main objective of
the company is to manufacture cotton, silk, terene & blended
textiles & bleaching & dyeing materials & paper & paper board.

1966 - 24,192 Bonus Equity shares issued in the proportion 1:5.

1967 - 36,288 Bonus Equity shares issued in the proportion 1:4.

1969 - 18,144 Bonus Equity shares issued in the proportion 1:4.

1975 - 99,792 Bonus Equity shares issued in the proportion 1:2.

1978 - 49,896 bonus shares issued in the proportion 1:6.

1983 - The company set up a paper plant at Gondia in Maharashtra. A
second-hand reconditioned paper plant with an annual capacity
of 10,000 tonnes purchased from U.K. was installed.

1988 - New products like nylon conveyor belting and nylon cycle cord
were introduced to cater to the needs of the industrial sector.

1989 - Gondia paper plant unit could dispose of all accumulated stocks.
In order to overcome loss of production it was decided to
modernise the existing machines for which a scheme was submitted
to the Financial Institutions.

1990 - The Company undertook to replace all the ordinary looms with
140 Ruti-C looms. 48 of these looms were installed and put into
operation and the remaining 92 were installed during 1992-93.

1991 - The company undertook to install a high efficiency fluidised bed
combustion boiler. With a view to improving the plant
performance to cater to the high end of the market and also to
increase plant capacity to approximately 40%, the company
approached a German Consultancy firm.

- 2,49,480 bonus equity shares issued in prop. 1:7.

1992 - The increase in input costs, transporters' strike in July,
followed by communal disturbances once again affected the working
of the unit.

- The German Consultants recommended shutting down the plant for
carrying out modification in the paper machine.

- During September-October the Company issued 9,97,920 No. of
equity shares of Rs. 10 each for cash at a premium of Rs. 70 per
share on Rights basis in the proportion 1:2 (all were taken up.
1,749 shares were kept in abeyance). Another 49,896 No. of
equity shares of Rs. 10 each for cash at a premium of Rs. 70 per
share were offered to the employees' on an equitable basis (only
6,250 shares subscribed portion was allowed to lapse).

- The company issued 19% secured redeemable non-Convertible
debentures of the aggregate value of Rs. 275 lakhs on private
placement basis with financial institutions of which UTI has
subscribed for Rs. 125 lakhs.

1994 - During the year, the company undertook to install balancing
equipment in order to increase production.

1995 - The Company proposed to increase the daily output to 100 tonnes.

1996 - The performance of the Gondia paper plant was badly affected due
to poor price realisation on account of stiff competition from
imported papers including writing and printing papers.

1997 - Performance of the Company was not satisfactory due to poor
market conditions, increase in excise duty etc.

- Performance of the Akola unit was adversely affected, due to
increase in excise duty coupled with poor market conditions.

- The performance of the Gondia paper plant was not satisfactory
due to competition from imported paper, reduced prices of
domestic paper resulting in erosions of margins.
 
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