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Welspun India Ltd. Company History and Annual Growth Details

YEAR EVENTS
1985 - Welspun (I) Limited was incorporated on 17th January, as a
Private Limited Company in the name and style of Welspun Winilon
Silk Mills Pvt. Ltd. at Mumbai. The Main Object of the Company
is to manufacture Polyester filament yarns and texturised yarns.
The Company was promoted by G.R.G. group headed by G.R. Goenka.

1986 - It has established yarn texturising unit at Palghar, District
Thane with one texturising machine of 216 spindles for producing
797.5 MT yarns per annum.

1989 - In March, another texturising unit of the same capacity was set
up at Silvassa.

1990 - A modern polyester filament flat yarn manufacturing unit was set
up at Achhad, District Thane, with a capacity of 605 MT per
annum.

1991 - The capacity of company increased from 2,200 MT to 3,500 MT per
annum.

- 18,00,000 shares issued (prem. Rs 5 per share) out of which
90,000 shares reserved and allotted to employees on 17,10,000
shares offered to the public in October, 1991. Additional
2,70,000 shares were allotted to retain oversubscription
(2,56,500 shares to the public and 13,500 shares to the
employees).

1993 - The Company undertook to set up a cotton spinning project with
15,000 spindles at Village Morai, near Vapi, Gujarat for
manufacture of terry towels.

- The company also proposed to set up a POY project with a capacity
of 15,000 MTPA at Silvassa, Dadra, Nagar Haveli.

- The Company issued equity shares of Rs 10 each at a premium of Rs
40 per share as follows:

- (i) 49,05,000 shares to shareholders on rights basis in the ratio
of 3:2;

- (ii) 5,20,000 shares to Mutual Funds and Banks (only 2,24,999
shares were taken up) and

- (iii) 2,60,000 shares to the employees (only 1099 shares were
taken up);

- (iv) 10,00,000 shares to promoters (all were taken up);

- (v) 34,20,000 shares to Indian public and NRI through prospectus
(45,60,706 and 1,46,119 shares allotted to public and NRI
respectively.

1994 - The company expanded the terry towel production capacity from
3100 MTPA to 5200 MTPA. The Company has already commissioned
power generating sets for 4.10 MW. Moreover, it was setting up
power generating sets to generate 40 MW of power for capitive
consumption by terry towel and cotton spinning units.

- The company was setting speciality polyester filament yarn
project with a capacity of 14500 MTPA p.a. alongwith 5 nos. of
texturising machines with an installed capacity of 4000 MTPA at
Silvassa. For this project, the company acquired
state-of-the-art plant from Rieter automatic GMBH, Germany.

- In order to part finance the aforesaid expansion and
diversification, the company proposed to issue equity shares of
Rs 10 each for cash at a premium of Rs 50 per share.

- 101,05,000 shares issued on rights cum public issue.

1995 - 21,584 spindles and 240 rotors were added to the cotton spinning
division.

- The name of the Company was changed from "Welspun Polyesters
(India) Ltd." to "Welspun India Ltd." w.e.f. 12th October.

- 7,50,000 Pref. shares issued during the year.

1996 - The polyester yarn division of the company at Silvassa was leased
to M/s. Welspun Syntex Ltd. to concentrate on natural fibre and
related business.

- The Company decided to add 36 electronic Jacquard looms
considering demand for superior quality towels like Jacquard.

- The Company proposed to establish a 100% EOU for manufacturing
terry towels for exports at Vapi, Gujarat as a measure of
diversification.

- The Company entered into a joint venture agreement with Vincenzo
Zucchi SPA, Italy for the manufacture of Terry Bathrobes and
Terry made-ups at its 100% EOU plant in Vapi Gujarat.

2000 - The Company has informed that, a wholly-owned subsidiary in the name of
Welspun USA Inc. has been incorporated in the USA.

- The Company demerger for hiving off of the company's cotton yarn unit into a
separate company and compromise with the lenders of the company.

2001 - Demerger of the spinning division of the company into a separate company viz.
Welspun Cotton Yarn Ltd.

- Credit Rating and Information Services of India Ltd. has downgraded its rating in
respect of the company's NCDs from `B' to `D'.



2004

-Welspun India bags International vendor of the year award from WAL-MART

-Welspun India wins operational excellence award for 2003

-Welspun India appoints Angshuman Singh as CEO

2005

- Delists equity shares of the Company from The Stock Exchange Ahmedabad (ASE) with effect from January 28, 2005.

2006

-Welspun India Ltd has appointed Ms Revathy Ashok as an Additional Director of the Company.

2008

- Welspun India Ltd has appointed Mr. Ram Gopal Sharma as an additional director of the Company with effect from August 25, 2008.

-Registered Office of the Company has been shifted To Welspun City, Village Versamedi, Taluka Anjar, Dist. Kutch, Gujarat - 370110

-Registered Office of the Company has been shifted To Welspun City, Village Versamedi, Taluka Anjar, Dist. Kutch, Gujarat - 370110.

2009

- Welspun India Ltd has appointed Mr. B K Goenka as the Chairman and Managing Director of the Company

-Mr. Shashikant Thorat has been appointed as 'Assistant Company Secretary' and the Compliance Officer of Welspun India Limited

2010

-"Welspun India successfully priced Rs. 156.03 Crore Qualified Institutions Placement (QIP)"

2011

-Welspun India Ltd has appointed Mr. B.K. Goenka as the Executive Chairman & Mr. Rajesh R. Mandawewala as the Managing Director

2012

-Mr. Arun Todarwal has been appointed as an additional director of the company

-Welspun India Ltd has recommended Interim Dividend of Rs 2 per equity share.

2013
-Welspun Corp Ltd announces the sale of its stake in Leighton Welspun India for USD 99 million.
-Welspun India Ltd has recommended a dividend at the rate of 20% for the financial year.
-Welspun India Ltd has "Allotment of 41,000 equity shares under ESOP and Increase in Paid up Share Capital".
-Welspun India Ltd has appointed Mrs. Dipali Goenka as an Executive Director of the Company with effect from April 01, 2013.

2014
-Welspun Corp bags new orders to take its order book to Rs. 5,800 crores.
-Annual volumes at an all-time high; Order Booking of more than a million ton.
-Welspun India Ltd has recommended a dividend at the rate of 30% for the financial year.
-Welspun India Ltd has allotted 23,500 equity shares to various employees of the Company who had exercised their options under ESOP scheme of the Company.

2015
-Welspun Enterprises awarded with Package 1 of the Delhi-Meerut Expressway Project
-Welspun commissions 32 MW solar power plant in Bathinda
-Welspun India introduces online retail portal
-Leading Global Companies Simplify Their HR with SAP

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