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History of Roofit Industries Ltd.

1982

- Ratnagiri Building Products Ltd, manufacturers of asbestos cement sheets under the brand name 'Roofit' was incorporated on 18th February.

- The Comp. is part of Motwani Group, that has experience in the asbestos cement sheet industry for over three decades.

- The Comp. is setting up of cement clinker grinding unit in company existing factory premises is in progress as per schedule and commercial production.

1993

- The Comp. is coming up with Rights-Cum-Public issue of 11 lakhs Equity Shares of Rs 10/- each at a premium of Rs 20/- per share aggregating to Rs 330 lakhs in August.

1994

- During the year Premier Pressure Pipes Ltd., which is engaged in the manufacture of Asbetos Cement Sheets & Pressure Pipes became wholly owned subsidiary of company.

1995

- Premier Pressure Pipes Ltd, the wholly owned subsidiary of the company.

1996

- During the year, the name of Comp. has been changed to Roofit Industries Ltd.

- The Comp. has already commenced work on setting up new roofing sheet plant with installed capacity of 45,000 t.p.a. at Village Abitghar, Wada Taluka, Thane District in Maharashtra State.

- The Comp. has already received letter of intent from the Central Government for same.

1997

- Bombay High Court & Madras High Court have approved the merger of the Company wholly owned subsidiary, Premier Roofing Products Limited [PRPLs] with Roofit Industries Limited [RILs] with effect from 1st July.

1998

- 18.50% Non Convertible Debentures issued to Karnataka Bank Limited are due for redemption in November.

- The Comp. has a 45,000 tpa plant at Ratnagiri in Maharashtra and another 45,000 tpa plant at Wada in Thane.

- The Comp. is also setting up a 45,000 tpa roofing sheet plant at Kalyani in West Bengal which will enable it to access the markets in the Eastern part of country.

- Roofit Industries Limited, a manufacturer of asbestos cement sheets, takes over asbestos pipe division of Sun Earth Cements Limited, from 1st July.

1999

- The Comp. has introduced a range of new products like designer sheet, AC pressure pipes & products made from composites.

- The Comp. has installed capacities of 70,000 tpa each at Ratnagiri, Chennai & Wada, & 30,000 tpa at Aurangabad.

- The Comp. has issued 13,00,000 No. of Equity shares at a price of Rs. 85/- per share to the Promoters.

2000

- The Comp. has allotted 1,00,000 zero-coupon fully convertible bonds of Rs. 150 each to Sun Earth Ceramics Ltd.

- The Rs 183-crore Roofit Industries is introducing eight different plasters into the Indian market in technical collaboration with Raute Dry Mix OY of Finland.

- Mr. Vinod G. Motwani has resigned as Managing Director with effect from 1st June.

- The Comp. has setting up of two units to manuffacture dry plaster in Pune & Chennai.

- The Board has declared a bonus of one share for every share held for the year ended June.