History of HSIL Ltd.

YEAR EVENTS 1960 - The Comp. was incorporated in 8th February at Calcutta. The name of Comp. was changed with effect from 3rd May 1969 from Hindustan Twyfords Ltd to Hindustan Sanitaryware and Ind Ltd. The main object of Comp. is to manufacture Vitreous China Sanitaryware, Glass products, refractories & Plaster of Paris.

- 10,000 No. of equity shares to promoters & 1,04,000 No. of equity shares to foreign collaborators issued for cash. 1,00,000 No. of equity shares allotted to directors etc. 20,000 pref. and 1,85,000 No. of equity shares offered to the public.

1966 - 99,809 bonus equity shares issued in the proportion 1:4.

1969 - 2,39,542 bonus equity shares issued in the proportion 12:25.

1980 - 2,46,195 bonus shares issued in prop. 1:3.

1981 - Associated Glass Industries, limited was merged with the Comp. with effect from 29th June, & their glass unit at Hyderabad was taken possession of by Comp. from that date. Immediately thereafter, work was taken up for extensive repairs to furnace, plant & machinery & gas producers & updating of I.S. Glass forming machines.

- With the co-operation of Glass Equipments [Indias], Ltd., it was possible to start production in November on furnace HW-II & establish capacity to draw 62 tonnes of glass per day as against the 42 tonnes specified by erstwhile foreign collaborators. HW-II furnace was put into service in July, after minor modifications & extensive repairs for draw upto 69 tonnes per day. As envisaged, operations proved to be profitable.

- Associated Glass Industries, limited was merged with the company with effect from 29th June.

1983 - Owing to labour unrest & violence, a lock-out had to be declared from 18th May, to 11th November. Since then, one furnace was in operation as HW-II sustained heavy damages at the time of sudden closure. It was repaired, renovated & enlarged.

- Authorised capital reclassified. 15,000 pref. & 67,500 No. of equity shares allotted without payment in cash to pref. and equity shareholders respectively of Associated Glass Industries limited on its merger with the Company.

1984 - Capacity was increased by using electric booster of 90 TPD with the booster installations, the furnace had been successfully operated on green glass.

1986 - Production declined due to incessant power cut imposed by Andhra Pradesh State Electricity Board, glass leakage in HW-II furnace twice & a major break down in the new compressors. Despite these adverse factors, the Comp. acheived a production of 83% of licensed capacity.

- The Comp. installed & commissioned a CNC turning centre imported from W. Germany

- The Comp. undertook a modernisation programme in phase.

1987 - Production at 10,450 tonnes showed a marginal improvement despite shut down of tunnel kiln for two & a half months for modernisation.

- Production declined to 26,961 tonnes due to reasons such as plant shut down for 3 months for modernisation, power cut as high as 50% & untimely break down in flint furnace.

- An application was made for an industrial licence to enhance the capacity to 18,000 tpa.

- The Comp. received Government permission for construction of another highly energy efficient automated kiln.

- The amber glass furnace was commissioned at the Hyderabad Unit. Also, a plant for substantial reduction of ash & tar from coal gas & thereby prolong the life of furnace, was introduced.

- During the year, a 2.9 MW Sulzer Autostar DG set & 2 centrifugal air compressors were ordered.

- 5,26,141 bonus equity shares issued in prop. 1:2.

1988 - The Comp. proposed to install a new Mirrlees Blackstone generator of 3.3 MW in December & a sluzer set by middle of the year.

- The Comp. proposed to make an application for grant of LPG as the supply of residential fuel oil was not satisfactory. It was also proposed to replace 2 kilns by one high energy efficient kiln. Two new colours & a range of silk matt glazes were introduced during the year.

- The Comp. launched 'Solara' a new luxury bath room series.

- Production & sales showed improvements despite constraints due to relocation of various equipments during the on going modernisation programme. With amalgamation of Krishna Ceramics, Ltd., the Comp. acquired a sanitary ware manufacturing unit at Bibinagar in Nalgonda. This was expected to meet the demand in the Southern Indian market.

- The flint glass furnace was commissioned after expansion and modernisation of unit. One of two imported Centrifugal Air Compressors was erected & was commissioned during 1989-90.

- With effect from 30th June, 'Krishna Ceramics Ltd.' [KCLs] was amalgamated with the company. As per the scheme of amalgamation, 8 equity shares of Rs. 10 each of KCL were to be exchanged for 1 equity shares of Company.

1989 - The performance of Bhadurgarh & Bibinagar units would have been better but for shortage of power at the Bhadurgarh unit & industrial unrest for 23 days at Bibinagar unit.

- Also, a new casting shop with floor area of 97,000 sq. ft. incorporating modern facilities was commissioned in early 1989.

- Apart from these, mechanisation & automation were also introduced in various other departments.

- During the year, the Hyderabad Unit, was permitted an increase in its licensed capacity by 40%. The Comp. proposed to rebuild the existing furnaces & equip the present machines for higher speeds. Also necessary infrastructures were proposed to be furnished for high speed operations & increased production capacity of 48,000 tpa.

- 3,65,625 No. of equity shares issued without payment in cash to the members of Krishna Ceramics limited on its merger.

1990 - To counter the humid conditions during monsoon, an air heating system in the casting shop was installed.

- A 300 KVA DG set was transferred to the 2nd unit of AP plants from the glass division.

- However, Glass unit of 2.9 MW DG set was commissioned & with this the production was streamlined in the second half.

- At the unit no. 1 in Bhadurgarh & one more shuttle kiln was installed. With these, the Comp. hoped to increase the installed capacity upto 18,000 TPA shortly.

1992 - New luxury bathroom suite was well received in the market.

- Production registered a marginal decline due to planned shut down of white furnace for about one & a half months in the first half of year.

- With the modification of Dig House Configuration of HW-II White furnace, the quality of glass improved significantly in terms of seed count by as much as 80%.

1993 - Environmental Control Equipment was installed at Unit No. 1 in Bhadurgarh resulting in improved productivity.

- During October/November, public & right issue of 15,77,316-15% secured redeemable partly convertible debentures of Rs. 130 each.

- Out of total issue, 7,79,624 debentures were offered to the equity shareholders of Comp. in the proportion of one debenture for every two equity shares held [all were taken ups] & 38,900 debentures were offered to the employees of the Comp. [only 5,400 debentures were taken ups].

- 57,692 debentures offered to the financial institutions. 75,800 debentures to the Schablona India Ltd., 19,000 debentures to foreign institutional investors [all were taken ups]. 75,800 debentures offered to the Mutual funds [only 65,400 debentures were taken up. Unsubscribed 10,400 debentures were added back to the public issued of 5,30,500 debentures [all were taken ups].

- Part A of Rs. 45 each debenture was to be converted into one equity share of Rs. 10 at a premium of Rs. 35 on allotment.

- Part-B of Rs. 85 was to be redeemed in three annual instalments of Rs. 30, Rs. 30 & Rs. 25 at the end of 7th, 8th & 9th year respectively from the date of allotment.

- Soma Plumbing Fixtures, limited & Ceramic Services, limited are subsidiaries of Comp. Amal Ceramics, limited is also a subsidiairy of company.

- 15,43,816 No. of equity shares allotted in conversion of debentures.

1994 - The Comp. procured a sophisticated multicolour printing machines for increasing capacity of printed bottles for soft drink/beverage industry.

- 15,25,198 No. of equity shares allotted at a prem. of Rs. 86.12 per share on conversion of debentures.

1995 - The mould dryer was commissioned.

- During the year, the Comp. proposed to add a new 250 tonnes per day plant to its glass division.

1996 - New Colours & designs were introduced during the year.

- Production was constrained because of one of glass furnaces was under planned shutdown for ten weeks.

- A new Enterprise-wide Resource planning system was under installation of Bhadurgarh of facilitate improved MIS and on-line availability of all important information for decision markets. The Comp. also proposed to install a 4.2 MW DG set operating on Heavy Oil which was expected to be operative in 1997-98.

2000 - The Company container glass division has been renamed as 'AGI Glaspac.' The modernisation & expansion programme of the division has been completed. The new state-of-the-art furnace is energy efficient & environment friendly.

- The Comp. has achieved the ISO 14001 certification for environment friendliness. The Company unit at Bahadurgarh is the first sanitaryware plant in India to have achieved such recognition.

2001 - The Company, the largest sanitaryware producer in the country, has put the proposal to spin off its glass division into a separate Comp. on the backburner.

2004

-Hindustan Sanitaryware and Industries Ltd [HSILs], makers of sanitaryware brand Hindware, launched a range of stainless steel kitchen sinks in Chennai