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Zuari Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1967 - The Company was incorporated on 12th May. It was promoted by
Birla Gwalior (P) Ltd., and Armour & Co., Chicago, U.S.A. The
Company manufacture fertilisers and allied products.

1968 - A fresh collaboration agreement was signed with the United States
Steel Corporation on 1st November, under which the scope of
the project was enhanced to include the manufacture of compound
fertilisers (28:28:0) as well.

1977 - 160 No. of equity shares subscribed for by the signatories to the
Memorandum of Association and 55,57,340 No. of equity shares
subscribed for in cash by the institutional promoters of the
Company (United State Steel Corporation - 37,72,500; Sutlej
Cotton Mills - 10,00,000 Pilani Investment Corporation - 2,00,000
Birla Education Trust - 1,80,000; Century Spg. & Mfg. Co.
1,50,000; Gwalior Rayon Silk Mfg. Co. 1,10,000; Birla Bombay
Pvt. Ltd. - 70,000; and Jiyajeerao Cotton Mills - 40,000).

- 4,12,500 Pref. Shares and 68,70,000 No. of Equity shares issued
through prospectus in May 1970. Out of the issue, 9,14,964 No.
of equity shares reserved for foreign collaborators (7,27,500 for
United States Steel Corpn., and 1,87,464 for Armour & Co.,
U.S.A.) for allotment against plant and machinery and technical
know-how, etc.; 37,536 No. of equity shares issued to Armour &
Co., against cash subscription; 33,30,000 No. of equity shares
issued to foreign financial institutions (23,92,500 to
International Financial Corpn. Washington; 7,50,000 to Bank of
America, N.Y. and 1,87,500 to First International Finance Corpn.
Chicago) against cash subscription; 125 Pref. and 5,000 No. of
equity shares issued for Communidade of Sancoale of Goa. The
balance of 4,12,375 Pref. and 25,82,500 No. of equity shares
offered for public subscription. The Pref. shares are redeemable
on or after 8th July, 1982 after giving 3 months' notice.

1984 - A letter of intent was received to set up a fertiliser complex
comprising of an ammonia plant and an urea plant with capacities
of 1,350 tonnes and 2,250 tonnes per day respectively based on
off-shore gas at Sawai Madhopur, Rajasthan. For this purpose,
the Company promoted a new Company under the name and style of
Aravali Fetilisers Ltd.

1985 - AFL was incorporated on 7th May, 1985 and the Certificate of
Commencement of Business was obtained on 18th July. Due to the
new guidelines fixed by the Government, the original contract
with Snamprogetti SPA had to be re-negotiated.

- Rate of Pref. dividend raised to 15% effective from 11.7.1985 and
redemption date extended to 10.7.1992/95. 10,310 Pref. shares
belonging to dissenting shareholders redeemed.

1986 - The Company issued 5,00,000 - 15% redeemable non-convertible
debentures of Rs 100 each on private placement basis to Army
Group Insurance Fund. These debentures are redeemable at a
premium of Rs 5 per debenture at the expiry of 7th year from the
date of allotment.

1989 - Application for financial assistance for the cement project was
submitted to IDBI. Necessary steps were taken to get the
validity period of the letter of intent extended.

- The company issued 7,00,000 - 14% secured redeemable
non-convertible debentures of Rs 100 each on private placement
basis with financial institutions. These debentures are to be
redeemed at a premium of Rs 5 per debenture on the expiry of 7th
year from the date of allotment of debentures i.e. on 18th
September, 1996.

1990 - A new company in the name of `Banas Cement Ltd.' was incorporated
to implement the project.

- Effective from 15th November, the CFCL ceased to be a subsidiary
of the Company due to increase in the paid-up capital of CFCL.

- The company made an application to set up a sugar factory in
Karnataka with cane crushing capacity of 2,500 tpa and investment
of Rs 35.0 crores. Clearance from Central and State Government,
was awaited. In 1992, clearance was received from the State
Government. The company availed the letter of Intent.

- With the approval of the Indian Government and the World Bank,
James Chemical Engineering, a prominent firm of U.S.A.,
consultants, were appointed to make a study of the existing plant
and suggest ways and means of achieving an increase of 10% in the
capacity.

1992 - The Company proposed to set up an argon recovery and purification
plant within the existing complex at Goa.

1993 - During the year, for the first time, the company launched sale of
potash for direct application to the farmers. "Biophos" an
environment friendly product launched to enhance phosphorus use
efficiency was well received. High quality seeds of various
crops in the brand name "Jaikisaan" was launched.

- The Company entered into an agreement with Texmaco Ltd for
running and operating their Cement unit at Yerraguntla, Andhra
Pradesh effective 1st January, 1994.

1994 - The Company formed a wholly owned subsidiary in the name of
Zuari Leasing & Finance Corporation Ltd.

- The Company set up a joint venture in the name of Zuari Seeds
Ltd., with Institute of Field & Vegetable Crops & KOP
Investments, Cyprus (IFVC) on 50:50 basis for production and
marketing of hybrid seeds.

- 7,00,000 Shares allotted on private placement basis.

1995 - The Company commenced marketing of single super phosphate under
the brand name "Jai Kisaan Superphos" making the existing range
of products most comprehensive.

- "Bioneem" an eco friendly neem based pesticide launched during
January.

- Two hybrid seeds of sunflower were developed with Institute of
Field and Vegetable cups and KOP Investments.

- Argon recovering plant was commissioned on 9th May, and
registered 51% capacity.

1996 - The Capacity utilisation of Ammonia, Urea, NPX and DAP plants
was maintained at higher levels.

- With view to energy saving, the company undertook to remove
pneumatic instruments in a phased manner to be replaced by
microprocessor based control systems. In the cement divisions,
fluxo was replaced by air lift pump and elevator & belt
combination for transport of cement from mill out let to cement
silo.

- The Company undertook to expand the existing di ammonium
phosphate plant from 500 to 1100 tpa at a cost of Rs 18.67 crores
based on technology supplied by Grand Parroise (GP) of France.
Also expansion of its NPK plant was undertaken to increase the
capacity from 500 to 1100 tap at a cost of Rs 46.18 crores based
on technology from Grand Parroise of France.

- Approval was received from requisite authorities for amalgamation
of Indian Furniture Products Ltd. (IFP) with the company IFP is
an EOU with facilities to manufacture ready to assemble furniture
at Kakalur, Tamil Nadu.

- IFP had entered into a technical & financial collaboration
agreement with M/s. Seribo France, one of the pioneers in
manufacturing and marketing reading to assemble furniture.

- Subject to necessary approvals being obtained the company
proposed to issue 26252800 rights equity shares in prop. 1:1.

- Pref. shares redeemed. Authorised equity capital increased.

1997 - To ensure the smooth and continuous production of NPK/DAP plants,
the company has decided to set up additional captive power
capacity and placed an order with M/s. Wartsila NSD, Finland for
supply and erection of 6 MW DG set at a total cost of Rs 8.86
crores.

- 131,15,210 rights shares issued in prop. 1:1. 31,98,368 shares
issued to erstwhile Indian Furniture Products Ltd. on its
amalgamation with the Company.

1998 - With effect from 12th February, the name of Company was changed
to Zuari Industries Ltd. from Zuari Agro Chemicals Ltd to
represent all the activities of the company.

- For the first time among Indian corporates, Zuari Leasing and
Finance Corporation, a subsidiary of Zuari Industries of the
K K Birla group, has disclosed in its balance sheet that it has
paid Rs.15.69 lakh as tax to the Income-Tax Department under the
Voluntary Disclosure of Income Scheme (VDIS).

- Zuari Industries Ltd. said that its operations have been
affected because of a strike by contract labourers in its
packing and despatch section at its fertiliser division in Goa.

- Gautier India Ltd, a 50:50 joint venture between Groupe Seribo,
France and Zuari Industries Ltd, will launch an exclusive range
of entertainment furniture in India.

1999 - Zuari Industries, the K.K. Birla group company, is tying up with
Groupe Seribo of France to forge a 50:50 joint venture which
will market state-of-the art furniture products manufactured at
its Chennai factory.

- The company undertook further expansion of complex fertiliser
capacities to 3.30 lakh tonnes per annum from 1.50 lakh tonnes
per annum at Rs. 41.70 crores and installation of captive power
generation facilities.

- Leading the race is Gautier India Ltd, a furniture manufacturing
company set up by Zuari Industries Ltd, belonging to the KK Birla
Group, in collaboration with Groupe Seribo of France.

- Zuari Industries was able to present the record of its
transactions, the faster was the collection process from the
government.

- The company also has interests in furniture and cement
manufacturing. For fertilizers the company has tied up with
Grand Parroise of France to improve quality of its products like
Urea, Ammonia, and Diammonium Phosphate (DAP).

2000 - The Italcementi Group and Zuari Industries Ltd (ZIL) have reached
an agreement to create a 50:50 joint venture company, which will
take over the cement activities of ZIL.

- The Company proposes to enter into a joint venture agreement with
Ciments Francais and Italcementi Group company for carrying on
the cement business as a separate joint venture company.

- The Company has signed an agreement with Italcementi Spa, Italy on 2nd
August, for carrying on its cement business as a joint venture.

- Indian Furniture Products, a division of Zuari Industries of the K K Birla group, has
launched its Zuari furniture range in Bangalore.

2001 - The cement division of Rs 4000 crore KK Birla group company Zuari Industries, has
been hived off into a separate company called Zuari Cement Ltd.

- The Company is signing an MoU for acquiring 76 per cent stake in Greentech Seeds
International Pvt. Ltd. Bangalore, which is in the business of production and marketing of
hybrid seeds of vegetables and other crops.

- The Company has acquired themajority stake in GreenTech Seeds International Pvt Ltd.
and GSIPL has become the subsidiary of the company.

2002
-Zuari Maroc Phosphates becomes subsidiary of Zuari Industries

-Paradeep Phosphates becomes a subsidiary of Zuari Industries

-AF Ferguson & Co (AFF) has withdrawn as auditor for Zuari Industries Ltd.

2003
-Board approved the issue of Cumulative Redeemable Preference Shares aggregating to Rs 1000 million instead of Rs 2000 million approved earlier.

-- The Zuari Cement unit near Yerraguntla in Cudappah district was closed down by the management due to labour unrest

2007

-Zuari Industries Ltd has entered into Joint Venture Agreement with Israel Chemicals Ltd for establishment of water soluble NPK Fertiliser Plant with an initial capacity of 10,000 tonnes per year

-Zuari Industries Ltd has appointed Mr. J N Godbole as an Additional Director of the Company with effect from August 01, 2007.

2009

- Zuari Industries Ltd has informed that the Board of Directors of the Company at its meeting held on May 15, 2009, has appointed Mrs. Jyotsna Poddar as Additional Director of the Company with immediate effect.

- Zuari Industries Ltd has informed that the Company has entered into a Gas Transmission Agreement with GAIL (India) Ltd on May 26, 2009 for transportation of gas to Company's plant at Zuarinagar, Goa for use as fuel/feed stock.

- Zuari Industries Ltd has informed that the Board of Directors of the Company at its meeting held on July 21, 2009 has appointed Air Chief Marshal (Retd.) Mr. S P Tyagi as Additional Director of the Company with immediate effect.

2010

-Zuari Industries has acquired 100 shares of AED 1000 each of Globex Ltd

-Zuari Industries has acquired 50,000 shares of Zuari Fertilisers and Chemicals Ltd.

-Mr. H. S. Bawa has been appointed as the Executive Vice Chairman of the Company

2011

-Zuari Industries has acquired 20,00,000 shares of Zuari Holdings Ltd.

-ZuariIndustr Investment in joint venture Company in Singapore

2012

-The name of the company has changed from "Zuari Industries Limited" to "Zuari Global Limited".

-Mrs. Jyostna Poddar has been appointed as Whole-Time Director of the Company

2013
-Zuari Global has recommended a dividend of 20% i.e. Rs. 2.00 per share.

2014
-Soundaryaa IFPL Interiors Limited has become subsidiary of Zuari Global Limited.
-Zuari Global has recommended a dividend of 10% i.e. Rs. 1.00 per Share.

2015
-Zuari Financial Services Limited has become a wholly owned subsidiary of Zuari Global Ltd

2019
-Company has acquired around 48.98% (approx) shares of Forte Furniture Products India Private Limited(FFPL) from Indian Furniture Products Limited(IFPL) , a subsidiary of the Company.

2022
-Company name has changed to Zuari Industries Ltd. from Zuari Global Ltd..

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