I just read this e-book, simply because, according to my friend this book is written by some of the ingenious individuals who foresaw and also profited even from the financial collapse. - Sunita
I heard people are using this e-book as a Self-help guide to investing. I recently finished studying it, and never have experimented with any of the strategies; however they all appear to make sense. - Rajiv
A fantastic guide overall. Quite different from almost all other value investing publications because it concentrates on finding unique scenarios that are best to invest in. - Alexis
This particular e-book really opened up my eyes to some fresh opportunities and possibilities that while investing I should be looking for. Once you have read this traditional value investing book you will learn a lot. - Kavita
I really like the writer of this book. It is simple, properly explained, amusing, relevant, and incredibly well planned. This particular e-book is really a holy bible for dealing with unique circumstances in the market. - Saurabh

History of Hikal Ltd.

YEAR EVENTS 1988 - The Comp. was incorporated on 8th July, with the objective of carrying on the business of manufacture & marketing of chemicals, intermediates, dyes, pharmaceuticals & pesticides.

- Hikal Chemical Industries Limited [HCILs], jointly promoted by Surajmukhi Investment & Finance Limited, a wholly owned subsidiary of Kalyani Steels Limited & the Hiremath family.

- The period from 1988 to 1991 was utilised in setting up the manufacturing facilities at Mahad over land admeasuring 27004 square metres.

1990 - On 28th February, HCIL became a deemed public Comp. under the provisions of Section 43 A of Companies Act, 1956, & a fresh Certificate of Incorporation was obtained from the Registrar of Companies.

- The Comp. also proposes to enter the business of agrochemicals, more specifically pesticides, & commence production of Metoxuron [used as a wheat herbicides] & Metamitron [used as a sugar beet herbicides].

1991 - The Comp. has issued 1,50,000 shares of Rs.10/- each to Hiremath Chemicals Limited in lieu of technical know-how and engineering in the year.

- The Memoranum of Understanding [MOUs] dated 3rd January, valid for a period of 7 years, between Hikal Chemical Industries Ltd. & Hiremath Chemicals limited covers transfer of technology and technical assistance for Meta chloro aniline, 3,4 DCNB and paracumidine.

1993 - In December, Sumitomo Corporation, Japan, one of world's largest trading houses, with assets of U.S. $ 46,402 million and Net Income of U.S. $ 176 million acquired an equity stake in the Company. Sumitomo has interests in commodities, industrial and consumer goods.

- Hikal was the first chemical Comp. in India in which Sumitomo Corpn. has taken equity in 1993 with a 3.62% share.

- Agreement dated 30th September, entered into between the Company & Mr. Jai. Hiremath on his appointment as the Managing Director of Company.

1994 - The Comp. subsequently became full fledged Public Limited Comp. by passing a special resolution in the E.G.M. held on 7th July. Revised certificate of incorporation has been obtained on 16th September.

- In order to part finance the expansion-cum-diversification programme, the Comp. had successfully made a public issue of 7,50,000 equity shares of Rs.10/- each at a premium of Rs. 40/- in October. The public issue received over whelming response from the investors & the offer made to the public was oversubscribed by 21.48 times.

1995 - The Comp. has successfully completed the expansion of Meta Chloro Aniline & Para Cumidine Plants.

- The Comp. has also undertaken diversification in the field of Agro Chemicals & has started production of Metoxuron & has entered into a long term exclusive contract with Searle [Indias] Ltd.

- The Comp. issued 593926 bonus shares in the ratio of 1 equity share for every 2 equity shares held in July by apitalising free reserves of Rs. 59.39 lacs.

- The Comp. issued 445722 equity shares of Rs. 10 each & 22500 equity shares of Rs. 10 each for cash at par on rights and preferential basis respectively in July.

- New products will be introduced to improve the profitability of Company.

1996 - Metoxuron plant was successfully commissioned & after trial runs commercial production commenced during March.

- The Comp. maintained the highest standards of safety. Effective effluent treatment plant and environment care were the top priorities.

1997 - Hikal Chemicals Industries Limited is engaged in the production of chemicals used by pharmaceuticals, agro chemicals and dye industries.

- The Comp. has also launched Metoxuron a technical wheat herbicide. For this product the Comp. has entered into a agreement with Searle India, which will buy it for a period of five years.

- The Comp. has issued 4,00,000 14% Non Convertible Cumulative Redeemable Preference Shares of Rs. 100/- each on 28th October, for 3 years to IDBI Bank Ltd.

- The Comp. has allotted 14,66,700 equity shares of Rs. 10/- each, at premium of Rs. 35/- on 26th December, to promoters & Sumitomo Corporation, Japan on Preferential allotment basis. 1998 - The Comp. has appointed a representative in England to indentify our efforts to increase export.

- The Comp. has entered into a 10 year agreement with Merck and Co. Inc., U.S.A. for exclusive supply of Thiabendazole on 100% buy back arrangement.

1999 - The promoters of Hikal Chemicals Industries Ltd [HCILs] & the Kalyani group, through their subsidiary, are making an unconditional cash open offer to all equity shareholders of Hikal Chemicals Industries Ltd [HCILs] to purchase 50,300 shares of Rs 10 each at Rs 45 per fully paid up share.

- Hikal is the only Comp. in the world which manufactures TBZ and the plant has been set up with the technical support of Merck and Co Inc.

- Hikal is also in talks for joint ventures [outside Hikals] with pharmaceutical & agrochemical multinationals [MNCss] where the technology for new molecules would be transferred to the venture by MNC in exchange for equity.

- The Comp. has undertaken several measures to improve the profitability of Mahad unit. The Comp. has started manufacturing & exporting Isoproturon, which is a forward integration of its main product Para Cumidine. Mahad unit received ISO 9000 certification.

2000 - Hikal Chemical Industries limited has informed the BSE that it will issue one bonus share for every one share held by its shareholders.

- Hikal Chemical Industries limited has changed its name to Hikal Ltd. The Change of name reflects the company intentions to diversify into agro chemicals, pharmaceuticals, information technology and biotech.

- Hikal Chemical Industries Ltd., the only global producer of TBZ has been awarded the 'British Safety Council' award for world class health, safety and environmental standards at their Taloja plant near Mumbai.

2002

-Appoints Mr Bimal Kishore Raizada as the Additional Director of company.

2003

-Board approves for issue of Bonus shares.

-Signs agreement with US based pharmaceutical Comp. to supply Gabapentin, a $2 billion anti-depressant that is going off patent.

-Enters into Long term supply agreement with a leading Corp protection Comp. in USA for supply of new generation agrochemical.

2004

-Hikal Limited has informed that the Comp. had applied for delisting of its securities from Ahmedabad Stock Exchange & Pune Stock Exchange. Pune Stock Exchange limited has informed the exchange that it has approved company request & the equity shares of Hikal limited are delisted from Pune Stock Exchange limited wef January 16, 2004.

-Hikal enters into long term agreement with Bayer CropScience AG

-Hikal acquires European Pharma Distributor Marsing and Co.

-Hikal takes over Danish co