Enter the first few characters of Company and click 'Go'

Stylam Industries Ltd. Company History and Annual Growth Details

Golden Laminates Limited (hereinafter referred to as the 'Company') was incorporated on 28th October, 1991 as a Private Limited Company under the Companies Act, 1956 and was converted into a Public Limited Company in terms of Special Resolution passed on 12.10.1992 and obtained fresh
certificate of incorporation consequent on change of name issued by the Registrar of Companies, Jalandhar on 22nd October, 1992, to carry on the activities as detailed in the main objects of the Memorandum of Association of the Company under the caption 'Main Objects of the Company'.

MAIN OBJECTS OF THE COMPANY

The main objects of the company as set out in the Memorandum and Articles of Association of the company are as follows :

1. To manufacture buy or sell, Import, export or sell and carry on the business of all kinds, Decorative and Industrial Boards, Sheets, Sunmica, wood, pannels, vaneered and unvenered adhisives, straw products, flush doors and furniture and all kinds of timber, glas and other articles, things and other ingredients which can conveniently be used further for manufacture of or in connection with all other
articles and things as aforesaid.

2. To carry the business of manufacturers, processors, refiners, makers, convertors, importers, exporters, merchants, buyers, sellers and dealers in all kinds and forms of Board, Sheets, Paper, Sunmica, Paper moulded
products, plastic moulded products, including sheets, boxes, trays, containers.

3. To carry on the business of manufacturers, moulders, sellers, repairers, importers, exporters, of sunmica, Laminates, Board, Trays, P.V.C. bakelite, fibre, glass etc.

4. To carry on the business of all types of contractors, engineers, planners, designers & moulders.

PRESENT BUSINESS OF THE COMPANY

The laminate industry started in India by Caprihans Limited, Bakelite Hylam and Formica. These companies introduced the laminated sheets with brand names such as Sunglass, Decolam/Decolite and Formica. The laminated sheets have applications in the Furniture, office and
homes. Over a period of 50 years, the decorative laminates industry has grown from these three main manufacturers to about 30 manufacturers all over the country. There are about seven to nine manufacturers in the industry who are catering to the needs of the higher segments with
thicknesses of 1.0 m.m. and above. The profitability in case of higher thickness laminates is excellent as compared to lower thicknesses. The critical area of the industry is the product designs and thicknesses offered by the companies.

The Company implemented the Phase I with a limited capacity to manufacture mixed laminated sheets with size ranging from 0.6 mm to 1.0 mm. After utilising the capacity of 53.7% of Phase I, the company plans to enter into the higher segment market with a large product mix and to
launch its product on all India basis. The Company has already established its brand name of STYLAM in the states of Punjab, Haryana, U.P., J & K and Delhi and are expanding capacity to meet the growing domestic demand on All India basis and the export needs. The Company is importing the latest sophisticated moulds with state of art technology
from France and West Germany to launch its premium product mix in the market and to cater to the growing export needs. Hence to complete and to launch its product on all India basis, the Company has good growing potential in the Industry.

The Company estimated to complete the implementation of Phase I by December 1992. The total expenditure for the implementation of Phase I was estimated at Rs.326.26 lacs. The Company completed Phase I and commenced commercial production on 5th December, 1992. The Company actually incurred Rs.368.07 lacs against the original estimates of
Rs.326.26 lacs and thus incurred a cost overrun of Rs.41.81 lacs which was met by raising term loan of Rs.26.55 lacs from State Bank of Patiala and additional equity of Rs.15.26 lacs. However, there was no time overrun.

The Company in its present Phase-I of operation is engaged in manufacture of decorative and industrial laminates with capacity of 3,02,400 sheets per annum in its Factory which is situated at Industrial Area, Phase I, Panchkula, District Ambala, Haryana. Now the Company proposes to enhance the capacity by adding Phase II with installed
capacity of 7,14,000 sheets of Industrial/Decorative Laminates per annum. The total installed capacity of Plant will be 10,16,400 sheets per annum after implementation of Phase II.

2009

-Golden Laminates has been awarded First Prize by the Renewable Energy Department & HAREDA (State Designated Agency for Energy Conservation Activities) for the excellence in Energy Conservation in L.T. consumer's category for the year 2008-09

2010

-Company has changed its name from Golden Laminates Ltd. to Stylam Industries Ltd.

-Stylam Industries has reommended dividend @ 7.5%

2012
-Nitika Sharma has joined as Company Secretary and Compliance Officer of the Company.

2014
-Ms. Sonia Arora has been appointed as Company Secretary cum Compliance Officer of the Company.

2015
-Stylam Industries rolls out operations in Gujarat.

2019
-Amalgamation between Golden Chem-Tech Limited with Stylam Industries Limited.

2021
-The Company has splits its face value from Rs. 10/- to Rs. 5/-.

Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article