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History of Regency Ceramics Ltd.

YEAR EVENTS 1983 - The Comp. was Incorporated on 8th November, at Hyderabad.

- The Company object is to manufacture glazed & unglazed ceramic tiles for floors & walls.

- The Comp. was promoted by G.N. Naidu, K. Seshagiri Rao, and P.G. Naidu. The Andhra Pradesh Industrial Development Corporation, limited [APIDCs], the Pondicherry Industrial Development and Investment Corporation, limited [PIPDICs] & Welko Industrial SpA of Italy [Welkos] also participated in the equity capital of the Company.

- The Comp. entered into a foreign collaboration agreement with Welco Industriale SpA of Italy [Welkos] for supply of know-how, engineering & also for supply of plant & machinery. Welko were to be paid US $ 3,90,000 for technical know-how & US $ 5,040,100 as CIF value for supply of plant & machinery.

1985 - 5,40,000 No. of equity shares taken up as follows:

- [is] 1,50,000 shares by APIDC.

- [iis] 3,40,000 shares by directors & their associates and

- [iiis] 50,000 shares by PIPDIC. 34,80,000 shares then issued at par of which 15,00,000 shares were reserved & allotted as follows:

- [is] 2,50,000 shares to promoters

- [iis] 10,00,000 shares to WELKO,

- [iiis] 1,50,000 shares to APIDC and

- [ivs] 1,50,000 shares to APIDC and - [vs] 1,00,000 shares to PIPDC.

- Out of balance of 18,60,000 shares, 8,39,200 shares reserved & allotted on a preferential basis as follows:

- [is] 6,00,000 shares to NRIs;

- [iis] 39,200 shares to friends & associates of promoters, directors etc. and - [iiis] 2,00,000 shares to employees of Company. The remaining 11,20,000 shares offered to the public in December [all were taken ups]. 30,000 shares pending allotment.

1986 - The Comp. undertook to set up a project for manufacture of 25,000 tonnes per annum of ceramic tiles for floors & walls as a 100% Export Oriented Unit [EOUs].

- In view of downturn in the market, an application was made to Govt. for allowing the unit to opt out of 100% EOU scheme.

- Subject to the following conditions the Govt. vide their order dated 1st January, 1987 permitted the Comp. to opt out of 100% EOU Scheme:

- [is] that 30% of annual production must be exported for a period of 5 years;

- [iis] to pay all duties upon plant, machinery & raw materials previously exempted; and - [iiis] to pay a penalty at 10% on the value of capital goods exported.

- Balance 30,000 shares allotted. 112,300 shares then forfeited.

1987 - Production was seriously affected till December due to severe power cut & interruption in the supply of LPG for about a month.

1989 - 13,40,000 Rights shares offered at par in prop. 1:3. Only 13,22,619 shares taken up. The balance 17,361 shares along with permitted retention of 2,01,000 shares allotted privately. Employees quota of 67,000 shares allowed to lapse.

1990 - Operations were affected for 5 months due to insufficient supply of LPG.

- 40,00,000 rights shares issued at par in prop. 18:25 in Sept. Additional 6,00,000 shares allotted to retain oversubscription. Another 2,00,000 shares offered at par to employees [unsubscribed portion, if any, was allotted to Mutual Fundss]. 12,300 forfeited shares reissued at par to dealers of Comp. on 29th December.

1992 - Exports in the previous year were severely affected due to disintegration of USSR.

- The Comp. undertook expansion of its capacity from 25,000 TPA.

- The Comp. had entered into an agreement with Gas Authority of India Ltd., for supply of Natural Gas for major input in the tile manufacturing is LPG and LDO. Govt. of India had substantially increased the cost of LPG, hence the company approached GAIL for a continuous supply of gas. As per the agreement the Comp. is to be supplied gas on a regular basis from 1st April 1994.

- The Comp. is eligible to draw 35,000 standard cubic mtrs. per day of gas. The Comp. proposed to instal a Genset to save substantially on the power cost.

- Subject to necessary approvals being obtained, the Comp. proposed to make a Rights issue of equity shares or fully convertible debentures for an aggregate amount not exceeding Rs.650 lakhs at a prem. not exceeding Rs.10 per share on allotment or on conversion.

1993 - The Comp. undertook to enhance its capacity by adding another 15,000 tonnes to the existing capacity.

1994 - In October, 32,55,800 shares allotted on preferential basis to promoters.

2004

-Equity shares delisted from Hyderabad and Madras Stock Exchanges

2009

- Regency Ceramics Ltd has informed BSE that Sri. N Satyendra Prasad has been appointed as Chief Executive Officer [CEOs] of Comp. with effect from February 27, 2009.