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Solid Stone Company Ltd. Company History and Annual Growth Details
YEAR EVENTS 1990 - The company was originally incorporated on 8th May. The company was initially known as 'Solid Granites Pvt. Ltd.' and the name was changed to the present one, on 30th July 1994 upon conversion into a public limited company. It was promoted by Kharkar family led by late Bhagwandas Kharkhar. It proposed to manufacture granite slabs with an installed capacity of 1,80,000 sq. ft. per annum.
1994 - 22,00,000 No. of equity shares of Rs. 10 each were allotted to directors, their friends and relatives. Another 8,00,000 shares of Rs. 10 each were allotted to the public on 24th December (all were taken up).
1995 - The working of the company was affected due to the steep rise in cost of inputs and overheads. The general recession in demand and liquidity crisis were responsible for the performance not being upto the expectations.
1996 - Despite adverse market conditions prevailing in the granite industry, production improved to 79614 sq. ft. of Granite Slabs.
- Company name has been changed from Solid Granites Ltd to Solid Stone Company Ltd.