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History of Restile Ceramics Ltd.

YEAR EVENTS 1986 - The Comp. was incorporated at Hyderabad, Andhra Pradesh on 26th May, as a private limited Comp. & converted into public limited Comp. on 10th December, 1988.

- The Comp. was originally Promoted by Shri V. Padmakar & Shri P V L N Raju. Subsequently the Comp. has been brought into the assisted sector by Equity participation from APIDC and technical & financial collaboration & M/s. MORI-SPA, Italy.

- The main objective of Comp. is to manufacture vitrified unglazed & glazed ceramic floor & wall tiles & other ceramic products.

- The Comp. undertook to set up a plant on a plot of land admeasuring 12 acres at Malkapur village in Medak District of Andhra Pradesh for manufacture of 12,000 TPA of fully vitrified unglazed medium & heavy duty ceramic floor & wall tiles in plain & granite finishes in various sizes, colours & textures including mirror polished in technical collaboration with Mori-Spa, Italy.

- Major plant & machinery such as hydraulic presses, horizontal infra-red continuous drier, fast firing roller kiln were imported from MORI-Spa & polishing line was supplied by Pedrini-SpA, Italy.

- The Comp. entered into technical collaboration agreement with Mori-SpA, Italy, for providing technical know, supplying major plant & machinery & assisting in erection & installation of plant. The agreement also provides for guarantees for quality, capacity of output, consumption of raw materials/duration of performance run, etc.

1991 - 85,50,000 No. of equity shares issued at par out of which the following shares were reserved & allotted:

- [is] 17,00,000 shares is promoters, Indian resident directors, etc.;

- [iis] 2,50,000 shares to M/s. Mori-SpA, Italy;

- [iiis] 10,00,000 shares to Mutual Funds & venture capital Funds and

- [ivs] 5,00,000 shares to APIDC.

- Another 4,27,500 shares were reserved for preferential allotment to employees, etc. of Comp. & those of promoter companies out only 3,47,700 shares taken.

- The balance 46,72,500 shares along with 79,800 shares not taken up by employees, were offered to the public in December. Additional 8,92,988 shares were allotted to retain oversubscription [7,65,000 shares to the public & 1,27,988 shares to promoters, etc.s].

1994 - The production, capacity utilisation & turnover would have been higher but for increase in input cost due to the steep hike in the cost of LPG by 78% & erratic power supply. The Comp. commissioned an additional generator to improve the yield & quality of output from the kiln.

1995 - During the year, the Comp. developed special range of smaller sized & thinner tiles for effective applications on the elevation of buildings which was expected to receive good demand from market.

2008

-The Comp. has issued rights in the ratio of 26:35 at a premium of Rs 0/- Per Share.