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Parrys Sugar Industries Ltd. Company History and Annual Growth Details

GMR was originally incorporated on June 30th, 1986 in the name and style of Sree Sarada Ferro Alloys Ltd., to set up a plant for the manufacture of Ferro Chrome at an installed capacity of 6,000 TPA at Ravivalasa Village, Tekkali Mandal in Srikakulam District of Andhra Pradesh. The name of the Company was subsequently changed to GMR Vasavi Industries Ltd and a fresh Certificate of Incorporation was obtained on 1st February 1994.

As the project could not be implemented by the original promoters viz., Sri P V Lakshmana Rao, Sri K Srinivas Rao and associates, the present Directors comprising Shri G Mallikarjuna Rao and Shri S Suryanarayana Murthy had taken over the management in 1989 and implemented the said project.

GMR's existing Ferro Alloys operations registered a capacity utilisation of 71.12% in 1990-91 which subsequently increased to 89.73% in 1991-92 and around 88.20% in 1992-93. The company enhanced the manufacturing capacity from 6,000 TPA to 10926 TPA during 1993-94 nd achieved a capacity utilisation of 63.83% during 1993-94. The capacity utilisation has been lower due to shut down of the Plant for a period of about 2 months on account on implementation of the expansion project and time taken for stabilisation of production.

2000 - The Company has entered into tripartite agreement with
NSDL and CDSL and Karvy Consultants Ltd. (R&T agents)
to make the equity shares of the company available for dematerialisation.

2001 - The Board has resolved to hive-off the brewery division to GMR Beverage Industries
Ltd., Hyderabad, a group company, which is going to be a 100 per cent subsidiary of the
company.

2002-V Balasubramanian appointed as Company Secretary of GMR Technologies.

2003 - GMR Technologies & Industries Ltd has informed BSE about the following changes in the composition of the Board of Directors of the company: 1. Mr K V K Seshavataram has been elected as the Chairman of the Board of Directors of the company 2. Mr O Bangaru Raju has resigned form the Board of Directors of the company and the Board has accepted his resignation wef December 30, 2002.

2005

-GMR Industries picks up Best Performer Award

2007

-GMR Industries Ltd has appointed Dr. V Raghunathan as the Managing Director of the Company, with effect from January 25, 2007.

2009

- GMR Industries Ltd has informed that the Board of Directors of the Company at its meeting held on July 27, 2009, inter alia, has appointed Mr. A Sankara Rao as Executive Director with effect from August 01, 2009 for a period of 3 years.

--Registered Office of the Company has been shifted from 6-3-866/1/G2, Grrenlands, Begumpet, Hyderabad - 500016, Andhra Pradesh to 25/1, Skip House, Museum Road, Bangaluru - 560025, Karnataka

2010

- GMR Industries Ltd has appointed Mr. D. Kumaraswamy as an Additional Director on the Board of the Company with effect from May 18, 2010.

-Company has changed its name from GMR Industries Ltd. to Parrys Sugar Industries Ltd.

2011

- The company has allotted 7,50,00,000, 8% Cumulative Redeemable Preference Shares of Rs. 10/- each at par to M/s. E.I.D. Parry (India) Limited aggregating to Rs. 75,00,00,000/-.

2012
-"Best Sugar Cane Development Award" for the season 2011-12.

2013
-The Board of Directors of the Company has appointed Mr. C. R. Rajan and Mr. P. Gopalakrishnan as Additional Directors of the Company.

2014
- The Board of Directors of the Company has appointed Mr. V. Ramesh has been appointed as a Director of the Company.

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