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History of Orient Ceramics & Industries Ltd.

YEAR EVENTS 1977 - The Comp. was Incorporated as a public limited Comp. on 18th May, for manufacture of glazed wall tiles with an installed capacity of 5000 TPA at Sikandrabad, Dist. Bulandshahr U.P.

- The Comp. was promoted by C.K. Kejriwal in collaboration with Agrob Anlagenbau GmbH [Agrobs].

- The Company object is to manufacture glazed white, coloured and decorative ceramic wall tiles.

1981 - The Comp. became a subsidiary of Somany Pilkington limited When the latter took over the Comp. under a rehabilitation package from IFCI.

1987 - The Comp. undertook an expansion programme to increase the capacity by an additional 10,000 TPA.

1991 - For a number of technical modifications carried out at various stages & the problem due to the non-release of required power load, the overall production could have been still higher.

1992 - In order to modernise the plant facilities a gas pipeline was connected to facilitate conversion from oil firing to natural gas firing in 1993.

1994 - The press shop was modernised by replacing the mechanical tile presses with automatic hydraulic presses. To make use to biscuit tiles, an in-house designed fuel efficient continuous furnace was constructed.

- The Comp. undertook to set up a new manufacturing facility of 25,000 tpa adjacent to the existing site. A technical agreement with Sacmi Impianti S.p.a Italy was signed & an order for import of plant & equipment placed.

1995 - The Comp. is emerging as a leading player in the Ceramic Tile Industry.

- The Comp. has installed further capacity generation of 1560 KVA. The factory can be fully operational on its captive load.

- The Comp. has installed & proposes to instal energy efficient machines & equipments for use in the manufacturing activities.

1996 - The production was disrupted due to nil supply of natural gas for a period of 23 days during January 1997. A shutdown for maintenance work was also carried out.

- The installed capacity was increased to 52,000 tpa. A new generating set was hired & installed as back up & the expansion capacity was implemented.

- During August-September, the Comp. issued 7,20,000 - 16% redeemable non-convertible debentures of Rs.100 each in the ratio of 4 debenturs : 5 equity shares held along with 2 detachable warrants on Rights basis.

- Each warrant entitles the holder to apply for one equity share at a prem. of Rs.10 per share. The right is exercisable between 6 to 36 months from the date of allotment of debentures, failing which the warrants would lapse. The debentures would be redeemed at par in the three equal instalments, at the end of 6th 7th & 8th year respectively from date of allotment of debentures.

- Till date 14,18,520 No. of equity shares were allotted on exercise of warrants.

- 7 No. of equity shares subscribed for by signatories to the Memorandum of Association. 3,49,993 No. of equity shares allotted to promoters, directors, relatives & associated Companies. 90,000 shares allotted to PICOP. During 18th May, 1977, the Comp. issued through a prospectus 4,60,000 No. of equity shares of Rs.10 each to the public.

1997 - The authorities have informed of another forthcoming shut down of natural gas supply during October/November, 1997 for a period of 26 days.

- The funds raised through the issue of 16% - 720,000 Secured Redeemable Non-convertible Debentures of Rs. 100/- each for cash at par aggregating to Rs. 72 million on Rights basis, has been utilised on the project.

- The Comp. has installed energy efficient machines and equipments for use in the manufacturing activities.

- The Comp. commissioned its expansion project in March.

1998 - The Comp. issued 14,40,000 Detachable Warrants along with 16% Secured Redeemable Non-convertible Debentures in terms of Letter of Offer dated 2nd August, 1996. The Comp. has converted 11,56,080 Detachable Warrants into Equity Shares on 31.03.98 and the Equity Shares, so issued have been listed with Delhi, Mumbai & Calcutta Stock Exchanges.

1999 - Orient Ceramics & Industries Ltd [OCILs] is planning a Rs 35 crore expansion by increasing tiles manufacturing capacity by 50 per cent to 85,000 tonnes in the wake of increased demand from the housing sector.

- The Comp. also introduced India Largest Wall Tile, measuring 400mm x 300mm.

2000 - The Comp. has announced its maiden bonus issue in the ratio of 1:1.

- Crisil has upgraded its rating assigned to company Rs 7.2-crore NCDs issue from BB+ to BBB-.

- The Comp. has allotted 23,40,000 No. of Equity shares of Rs 10/- each as fully paid Bonus Shares on 26th Sept. 2000.

- The Comp. is implementing an Expansion Project for increase in installed capacity by 40,000 TPA at the existing site.

2007

-The Comp. has issued Bonus Shares in the Ratio of 5:4.