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Supreme Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1942 - The Company was Incorporated at Mumbai. The Company manufacture
Industrial and engineering moulded products, storage and material
handling crates, multilayer sheets, multilayer films, packaging
films, expanded polyethylene foam, PVC pipes and fittings,
moulded furniture, sataranj mats, disposable EPS containers, etc.

1943 - 2,000 Right Pref. shares issued (prem. Rs 20 per share; prop.
1:1) to Pref. shareholders.

1945 - Issued 3,000 No. of Equity shares.

1947 - 296 Bonus Equity shares issued in prop. 1:20. 622 Bonus Pref.
shares then issued to Equity Pref. shareholders in prop. 1:10.

1960 - 3,110 Rights Equity shares issued at par in prop. 1:2.

1972 - In May, 1972, 1,865 Bonus Equity shares issued in prop. 1:5 in
Dec. 1972, 11,271 Right Equity shares issued at par in prop. 1:1.

1978 - 13,426 Bonus Equity shares issued in prop. 3:5 in May 1978.

1980 - 14,321 Bonus Equity shares issued in prop. 2:5.

1985 - A new factory was established at NOIDA (Delhi) with a capacity to
manufacture 1500 tonnes of industrial products/components etc. to
cater to the North Indian Markets. All the machines were
installed in January 1988.

- The Company issued 15% non-convertible debentures for Rs 100
lakhs to UTI on private placement basis to meet working capital
requirements.

- 40,099 Bonus Equity shares issued in prop. 4:5, during February
1986.

1987 - The working of the packaging and multilayer film division,
however, was affected by hike in raw material costs and
prevailing excess capacity in the industry.

- With a view to upgradation of technology and introduction of
new products, the Company entered into a collaboration agreement
with Bdr. Schur International, Denmark.

- The PVC pipes and fittings division introduced cable ducting and
bore well pipes during the year.

- The Company converted its existing 4,620 - 6 1/2% Preference
shares of Rs 100 each into 4,620 - 13 1/2% unsecured
non-convertible debentures of Rs 100 each at par on 15th October.
These debentures are redeemable at the end of 7 years from the
date of allotment.

- As on 1st July, plant and machinery, moulds and dies were
revalued and the net surplus of Rs 18,42,17,354 arising out of it
was credited to revaluation reserves.

- The Company issued non-convertible debentures (C-Series) worth
Rs. 150 lakhs as 'Rights' to augment long term working capital
requirements.

- Pref. shares redeemed on 15th October by allotting non-con. debs.
in lieu. Equity shares subdivided. 9,02,220 bonus shares then
issued in prop. 1:1.

1988 - The Company embarked upon setting up of the following projects.
(i) expansion of the injection moulding capacity and launching of
moulded furniture at Noida; (ii) expansion of PVC pipe and
fittings capacity at Jalgaon; (iii) debottlenecking of multilayer
sheet capacity at Jalgaon (iv) injection moulding unit at
Pondicherry and (v) multilayer sheet and products unit at Daman.

- During September-October, the Company offered 4,73,666-14%
secured partly convertible debentures (D-Series) of Rs 170 each
as follows: (i) 4,51,110 debentures on rights basis in the
proportion 1 deb: 4 equity shares held (only 4,40,937 debentures
taken up) and (ii) 22,556 debentures to the employees 'Under the
Employees' Stock option scheme (all were taken up) Additional
10,173 debenture being the unsubscribed portion of the
shareholders quota were allotted to the employees.

- Rs 70 of the face value of each debenture was converted into 1
equity share of Rs 10 each at a premium of Rs 60 per share on
the expiry of six months from the date of allotment of
debentures.

- The non-convertible portion of Rs 100 of the face value of each
debenture would be redeemed at par at the end of 7 years from the
date of allotment of the debentures.

1989 - Steps were taken to put up a new multilayer sheet unit at Daman.
New range of products were introduced catering to the demands of
high tech plastic products required by various industrial
customers engaged in the manufacture of electronic, automobiles,
air-conditioning and office equipments.

- The Packaging and multilayer films division entered into a
technical collaboration agreement with M/s. Schur International
a/s of Denmark, a manufacturer of packaging film.

- The PVC pipes and fittings division entered into a collaboration
with M/s. Uponor, Finland for manufacture of 'Ultra Rib' pipes in
longer diameters. These pipes are to replace the conventional
drainage and sewerage system pipes.

- The setting up of new projects include (i) Expansion of SWR
fittings range at Jalgaon (ii) Manufacture of speciality plastics
products at Malanpur industrial area near Gwalior and (iii)
Speciality products in co-extruded and multilayer film division.

- The Company is a co-promoter of Supreme Petrochem, Ltd., which
has taken up a project to manufacture 80,000 tonnes of styrene
monomer and 40,000 tonnes of polystrene per annum.

1990 - The loading on the machines at Andheri and Noida units was low
due to unrest in Northern India. An injection moulding facility
was installed at Pondicherry to cater to its customers in
Southern India. The Company launched moulded furniture and a
variety of crates.

- Another unit of 1000 tpa. capacity was to be put up at Gwalior.
The demand in PVC pipes declined due to steep rise in the price
of PVC resin. Various new types of pipes for different
applications were launched.

1991 - The following projects were proposed to undertaken: (i) expansion
of the installed capacity of flexible packaging materials at
Taloja and Noida (ii) installation of injection moulding machines
with the capacities of 2,200 tonnes and 1200 tonnes at Talegaon
and Noida respectively (iii) increasing injection moulding
capacity at Pondicherry and Calcutta (iv) installation of air
bubble film manufacturing capacity at Gwalior (v) launching of
foam polystyrene products at Gwalior (vi) increasing the range
of thermoformed polyestyrene products at Daman (vii) expansion
of the capacity of PVC pipes and fittings at Jalgaon and (viii)
expansion of capacity at the technology centre.

- The Company proposed to set up a new industrial component
manufacturing unit at Salt Lake area, near Calcutta.

- In February, the Company offered 11,39,053 - 14% secured
redeemable partly convertible debentures of Rs 200 each on
Rights basis in the proportion 1 debenture: 2 equity shares held.

- Another 56,953 - 14% partly convertible debentures of Rs 200
each were issued to employees under the Employees' Stock Option
Scheme.

- Pursuant to the terms of the debenture issue, a portion of Rs 100
of the face value of each debenture was converted into one equity
share of Rs 10 each at a premium of Rs 90 per share on the expiry
of 12 months from the date of allotment of debentures.

- The remaining of Rs 100 of the face value of each debenture
would be redeemed at the end of 7 years from the date of
allotment of debentures.

- 11,96,006 shares issued on part conversion of debs. at a premium
of Rs 90 per share (11,79,153 shares on 1.4.1992 and 16,853
shares on 27.4.1992).

1992 - The PVC pipes division introduced a new range of plumbing pipes
and fittings which was well received in the market. The Company
has become a regular supplier of crates to Coco Cola.

- 34,74,112 shares issued as bonus shares in prop 1:1.

1993 - A.K. Structural Foam Ltd., was merged with the Company as per the
formalities of amalgamation, the Company offered to the erstwhile
shareholders of AKSF Ltd. shares on rights basis in the ratio of
one SIL share for 35 AKSF Shares and also partially and on the
same terms and conditions.

- The Company allotted 8,78,110 No. of equity shares of Rs 10 each
at a premium of Rs 190 per share and 17,41,254 - 15% secured
partially Convertible Debenture ('H' series) of Rs 450 each for
cash at par on Rights basis to employees.

1994 - The profit margins were however affected due to fire in the
Andheri godown adjacent to manufacturing facility and due to hike
in raw material costs in the furniture division.

- The injection moulded products group entered into a tie-up with
M/s. Manducher of France for upgradation of auto components
business. This would lead to introduction of a large number of
plastic components.

- From the Hosur plant, cross linked polyethylene foam products
were launched. In PVC pipes, the Company launched 355mm/400mm
pipes. Also pipes with DIN/BIS/ASTM specification were
introduced to cater to the export market.

- The Company launched new varieties of fabricated products to
complete the piping system.

- 13,393 No. of equity shares issued 26,786 shares issued in part
conversion of A and H series debentures. Preference shares
issued during 1996.

1995 - The has tied up with Schoeller International of West Germany for
its technology of new generation bottle crates. In furnitures,
the Company launched one piece moulded two seater sofa in the
market.

1998 - The company intends to introduce 15 more new models to the already
existing 55 models of furniture.

- During the year several new products viz. 'Hygience Quality Products'
were launched in the food service products division.

- Premier Lighting Industires Ltd. has become the subsidiary of the company.

- Pondy II Plant to manufacture furniture was commissioned in August
1997.

- The company acquired the assets of M/s Camphor & Allied Products
Limited at Nandesari manufacturing Protective Packaging Products.

- The business of Andheri Moulding shop has been shifted to various
other units of the company. Taloja capacity has been shifted to
Khopoli.

- Entire Flexible Packaging Division is relocated at Khopoli.
Manufacturing facilities of Packaging Films at Noida, Malanpur and
Taloja have been shifted to Khopoli.

- Multilayer Sheet Division at Daman has been closed and the entire
production capacity of Multilayer Sheet Division is converted to
Manufacture Food Serviceware products i.e. FSW products.

- The existing facilities of Noida and Talegoan to manufacture moulded
furniture have been relocated at Pondy II.

- Taloja premises have been partly converted into a 'Private custom
bonded warehouse'. It is partly also used for stocking raw material to
give the benefit of logistics in distributing imported as well as local
raw material to various manufacturing units.

- The company has converted 59,945 MT of various types of Polymers into
products against 46,513 tons in 1996-97 showing a growth of nearly 28%
in volume terms.

- The profit margin was affected due to loss on account of Foreign
Exchange borrowings, compensation on VRS for closure of Andheri and
Taloja units, loss of production due to shifting of machines from one
plant to another plant and inventory losses due to continuous fall in
raw material prices throughout the year.

- Margins were also affected due to lock out at Nandesari unit during the month
of April/May 1998 for 33 days and due to fire at Pondy II unit on 27th May 1998.
This fire resulted in loss of production for 4 days.

- Commissioning of Pondy Unit II for manufacture of furniture and
relocating Noida and Talegaon furniture facilities at Pondy have given
economies of scale and faster service to our customers.

- The industrial components business has suffered a set back mainly due
to slowing down of automobile sector.

- The complete closure of Multi layer Sheet business and conversion of
capacity to Thermoformed Food Serviceware products has been
completed.

- There was a fire at Pondicherry Unit II on 27th May.

1999 - The Company is the largest supplier of bottle crates to various
soft drink and beverages manufacturers.

- The Company has successfully launched PVC plumbing systems in the
country during the year under review.

- Shri S.R. Taparia and Shri N.N. Khandwala, Directors of the Company
retire by rotation and being eligible offer themselves for re-election.

- Consequent to acquisition of shareholding from collaborator M/s.
Kalle Pentaplast GmbH, M/s. Supreme Vinyl Films Ltd. (Formerly Klockner
Supreme Pentaplast Ltd.) has become subsidiary of the Company w.e.f. 7.9.1997.

2001

-Board approves merger of its Group Companies M/s Supreme Oriented Films Limited (SOFL) and M/s Supreme Vinyl Films Ltd (SVFL) into Supreme Industies Ltd. (parent company) w.e.f. April 01, 2001

2002

-High Court approves scheme of amalgamation of M/s Supreme Oriented Films Limited (SOFL) and M/s Supreme Vinyl Films Ltd (SVFL) with Supreme Industries

2003

-Siltap Chemicals Limited merged with Supreme Industries Limited
 
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