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History of Hitkari China Ltd.

YEAR EVENTS 1987 - The company, was originally incorporated as a Private Ltd. Comp. on 25th June, under the name & style of Hitkan China Pvt. limited Subsequently, the Comp. was converted into a public limited Comp. on 14th June' 1994 & a fresh Certificate of incorporation was obtained from the Registrar of Companies, National Capital Territory of Delhi & Haryana at New Delhi on 16th August 1994 & the name was changed to 'Hitkari China Ltd.'

- The Comp. has been promoted by Mr. Ved Kapur, Mr. K.P. Kapur, & Hitkari Poteries Limited & is a member of 'Hitkari Group,' wellknown for potteries.

- The Comp. was mainly an export trading Comp. engaged in the export of Bone China tableware products to U.S.A. The Comp. had received export awards from Chemicals and Allied Products Export Promotion Council for year 1989-90 & 1990-91.

- In view of expanding domestic as well as overseas markets, the Comp. decided to manufacture tableware products of fine Bone China & vitreousware.

- The Comp. has also set up its plastic division which is manufacturing five layer co-extruded multi-layer plastic films at Parwanoo with an installed capacity of 660 MT per annum working on three shift basis.

1989 - The Comp. has proposed to expand the existing installed capacity from 1250 M.T. Per annum to 2500 M.T. per annum to manufacture fine Bone China tableware products, which would double the capacity.

- The Comp. proposed to install equipment for improving the quality of china clay body, & improving the recovery factor resulting in subsequent reduction of cost of production.

- The Comp. proposed to expand its product range with major thrust in the export market.

- The Comp. has proposed to set up vendors for manufacturing the Bone China Holloware items such as mugs & cup and saucers.

1994 - The Comp. entered into an agreement with HPL for lease of the manufacturing unit, the Comp. has been also permitted to use the marketing network of HPL including dealers, distributors and C&F agents based all over India.

- The Comp. entered into an agreement with Hitkari Bros of Delhi on 31st July, for use of `Hitkari' Brand name for a period of 10 years.

- The Comp. has an established marketing network with strong Brand equity.

1995 - For the proposed expansion of Bone-China tableware manufacturing facility, the Comp. proposed to acquire clay making plant, glazing and forming machine, kilns and decoration machinery etc.

- The Comp. has an `In-house Design Development Cell' which is continuously developing new decoration prints.

- The Comp. has set up 2 franchise Stores in Delhi & Bangalore & would be further expanding this concept in other cities, all over India.

- Public Issue of 32,50,000 No. of Equity Shares of Rs 10/- each for cash at a premium of Rs 20/- per share aggregating Rs 975 lacs.

- The Comp. entered the capital market on 12th December, with a Public Issue of 40,00,000 Equity Shares of Rs.10.00 each at a premium of Rs.20.00 per share aggregating Rs.1,200,00 lakhs to finance the expansion project.

1998 - The operations in the factory at Faridabad were suspended w.e.f. 2nd January, which is still continuing. This has resulted in loss of production & fall in the sales.