History of Shaw Wallace and Comp. Ltd.
YEAR EVENTS 1946 - The Comp. was incorporated as a private Comp. & converted into a public Comp. on 25th July, 1947.
- The Comp. carries on business as exporters of fertilisers, gunnies & general produce; as insurance & shipping agents; as importers & manufactures of wine & spirits, timber & other products. The Comp. also manufactures glue fertilisers, agricultural spraying equipment, sulphuric acid, etc.
1947 - 75,000 Pref. & 6,50,000 No. of equity shares issued to partners of Shaw Wallace and Co. in consideration of taking over their business.
1958 - The Comp. continued to be sole distributors for products of Bengal Distilleries Co [Ps] Ltd., manufacturers of Hayward's Whiskey, Brandy, Gin & other items.
1959 - The Bengal Distilleries became a fully owned subsidiary of the Company.
- The Comp. in collaboration with Distilleries Co., Ltd., of the U.K., formed Indian Yeast Co. [Ps] limited for manufacture of bakery yeast & held the majority of shares in this new concern.
- The Comp. also acts as Agents for wines & spirits of Johnnie Walker, Gordons, Allsopps, Exshaws, Haywards, etc.
1963 - The Comp. completed negotiations to sell a comprehensive range of agricultural products of Sandoz [Indias], Ltd., & Flintrock Products [Ps] Ltd.
1966 - Bengal Distilleries Co., Ltd., was merged with the Company.
- 2,50,000 bonus equity shares issued in the proportion 1:3.
1967 - Distillery at Hyderabad produced a dry & sweet table wine and sweet red fortified table wine under the brand name `Golconda'.
1969 - A new malt whisky, `Kings Blend' was successfully launched.
1975 - 10,00,000 bonus equity shares issued in the proportion 1:1.
1977 - 20,00,000 bonus equity shares issued in the proportion 1:1.
1981 - 20,00,000 bonus equity shares issued in the proportion 1:2.
1982 - A letter of intent was received for a synthetic detergent unit in the Fatehpur district of U.P.
1983 - Letters of intent were received for manufacturing white cement in Himachal Pradesh & for establishing an undertaking to manufacture gypsum boards, blocks, tiles, etc.
1984 - A letter of intent was received for manufacture of hydrogen peroxide.
1985 - In January, Sime Darby disposed of its holding in Shaw Wallace by the sale of R.G. Shaw and Co. to a Hong Kong based company, Carrasco and Co. which was controlled by a non-resident Indian.
- The Comp. petitioned the Comp. Law Board [CLBs] seeking an enquiry into the true nature of sale & whether it violated provisions of FERA & MRTP Act or not.
1985-86 - In Computer Services Division a process control software package was being developed with the technical collaboration from a European Software House to be marketed within India & abroad.
1986 - The Comp. launched `VSOP', a deluxe brandy & `Pink Lady', a premium gin.
- The Comp. entered into long term supply arrangement with an American buyer for monthly supply of stipulated quantity of footwear on an annual basis. Govt. provisionally exempted the footwear unit of Company, making it eligible for further duty drawback on f.o.b. value of exports.
- A joint venture Comp. was set up in collaboration with Blocker Energy Corporation Inc., U.S.A. to undertake contract drilling & for supply of rigs & other equipment for offshore and onshore projects of ONGC & Oil India.
- Another joint venture was being promoted in collaboration with Geophysical Services Inc., a subsidiary of Texas Instruments Inc., U.S.A. for rendering services to the oil & gas industry in India for exploitation & development of oil & gas fields by providing complete facilities for collections & analysis of data from seismic survey.
- In August, R. G. Shaw and Co. filed petitions in the Supreme Court seeking special leave to appeal against the Calcutta High Court order of 4th July, which refused to fix a date for AGM and vacation of stay ordered by a Pune Civil Court judge on the holding of an AGM or EGM. - On 26th September, the Supreme Court directed the Comp. to hold its pending AGM & two EGMs on the 19th, 20th & 21st November, respectively.
- In order to streamline the holding of investments, it was proposed that fourteen subsidiary investment companies in the Group be merged with Shaw Wallace and Co. Ltd.
1987 - A new products, Acephate, was introduced. Approval was awaited for manufacture of other phosphorous based pesticides.
- 60,00,000 bonus equity shares issued in the proportion 1:1.
1988 - The Shipping division secured agency of Lykes Lines, New Orleans & agency for crew recruitment of Schulte Group of Companies, West Germany. The agency agreement with CMB of Belgium was terminated due to conflict of interest.
- Following approval of CCI & the High Court of Calcutta, 75,000-14% secured, redeemable, non-convertible debentures of Rs 100 each were issued at par in proportion 1:1 & allotted during the year to the holders of 6% cumulative preference shares in lieu of their holding in terms of Scheme of Arrangement.
1989 - Production of superphosphate at Avadi was adversely affected due to poor availability of raw material & reopened in April 1993.
- The Real Estate Division launched projects in Mumbai, Calcutta & Chennai & the public response was satisfactory.
1990 - Production of Glue and Gelatine was affected due to drought conditions, labour unrest & raw material shortages.
- A new vodka, `Karmazov' & a new rum, `Magic Million' was launched.
- The freehold land & buildings of Comp. were revalued as on 31st March, & the net surplus of Rs 2,050.44 lakhs arising out of this was credited to capital reserves.
1991 - 118,56,700 bonus shares issued in the proportion 1:1.
1992 - During the year, the Comp. had issued Bonus Shares in the proportion of One new Bonus Share for every Ordinary Share held by Shareholders.
- Accoustic Enclosure Systems have been installed in the Superphosphate Granulation Plant to reduce Noise Pollution level.
- Charminar Breweries had entered into an agreement with SWC in to manufacture some of more reputed SEC brands, namely Haywards 2000, Haywards 5000 & Royal Challenge beer.
1993 - During the year under review Doburg Lager Breweries limited and Multiplex Investments limited became subsidiaries of Company while Kerala Chlorates and Chemicals limited & Rajasthan Phosphorus and Chemicals Ltd., ceased to be subsidiaries.
- New products have been developed, product quality has been improved. Significant savings in cost reduction & product improvement have been achieved.
1994 - The Shipping Divisions activities were reduced to a marginal level. Efforts were being made to consolidate & restructure the activities of division.
- The Comp. offers agency coverage at all major ports in India, Pakistan & Ceylon & has sub-agents at all minor ports.
- 237,13,400 bonus shares issued in the proportion 1:1. 1,43,300 shares kept in abeyance.
- Alaknanda Manufacturing and Finance Ltd., Haywards Breweries Ltd., Malleswara Finance and Investment Co. Ltd., & Vibhavari Finance & Investment Co. Ltd., became subsidiaries of Company.
- In addition, Rajasthan Phosphorus and Chemicals Ltd; Stridewell Leather Ltd., Shoe Specialities Ltd., Mukherjee Consultants Ltd., & Golconda Stud and Agricultural Farm Ltd., also became deemed subsidiaries of Company.
1995 - In the absence of major liner agency, the shipping activities were reduced considerably & the efforts of Comp. to restructure the activity of division was not successfull so the Shipping Division was closed during the year.
1996 - During January & February, the Comp. launched `Hi Life Whiskey' & White Mischief Vodka' respectively which received encouraging response from the customers. Two more units one in Punjab & one in Madhya Pradesh were added to the existing units during the year.
- During the year under review, Jayanthi Detergents Limited had ceased to be a subsidiary by virtue of Order of Company Law Board dated 10th April, & Jambo Telecom Limited had ceased to be a subsidiary of Comp. with effect from 10th November, 1995.
- During the year, Sea Tech Services Limited had also ceased to be a subsidiary, Dunlop Industrial Finance Limited had become a subsidiary of Comp. with effect from 20th March.
- Showa Investments Limited became a subsidiary of Comp. with effect from 5th June.
- In Granulation Plant, it installed a Dust Scrubber to scrub the gases coming out of dryer cyclone. The Comp. also installed acoustic enclosures to reduce noise pollution.
1997 - India second largest liquor manufacturer, Shaw Wallace and Company, has bagged the international excellence award & has been named the exporter of year 1995-96 by Indian Council for Small & Medium Exporters.
- The Comp. has also won the export award from the Agricultural & Processed Food Exports Development Authority [APEDAs] for the third consecutive year in 1994-95.
- Shaw Wallace has retained its position as India largest exporter of alcoholic beverages for fifth consecutive year, according to statistics available with the Agricultural and Processed Foods Products Export Development Authority [APEDAs].
- Shaw Wallace & Comp. [SWCs] seems to be the first victim of sweeping changes in Maharashtra state excise policy.
- The factory has been closed for two-and-a-half months due to shortage of working capital.
- Shaw Wallace and Comp. is offering re-employment to the 185 employees of Andhra Winery and Distillery at Hyderabad, which was closed down following prohibition in the state in January 1995. The unit has been closed for more than 30 months.
- Shaw Wallace and Co Ltd said that Haywards 5000 has emerged as not only the country largest selling strong beer but also as the second largest selling beer brand overall in India. Kingfisher from the UB group is the number one.
- Shaw Wallace & Comp. has decided to double its beer manufacturing capacity over the next three years to keep pace with the rising demand. The company current capacity is 11.5 million cases per annum.
1998 - Bengal distilleries, a Shaw Wallace unit located at Bhadrakali in West Bengal, is all set to undergo expansion & relocation exercise.
- Shaw Wallace has launched its premium beer brand Royal Challenge Premium Lager in 330 ml cans.
- Shaw Wallace and Co Ltd has proposed the sale of three more divisions - gelatines, agrichem & Shaw Wallace and Hedges - apart from consumer products to repay the total of Rs.194.08 crore owed to its 178 creditors till November, 1997. - Shaw Wallace and Co has set up an independent central co-ordination committee for improving management practices at all levels.
- The Comp. is setting up a new plant in Chandigarh to make ossein, an intermediate for its main product, gelatines.
- Shaw Wallace Gelatines Ltd [SWGLs] has decided to diversify into liquor, beer, glue, modified glue, empty capsule shells and cattle fodder.
- In January, Bengal Distilleries, Shaw Wallace West Bengal unit became the second distillery in the country to receive the ISO 9002 certification. - The Comp. has set up an R&D centre at Maharashtra Distilleries in Aurangabad.
- The Agricultural & Processed Food Exports Development Authority [APEDAs] has awarded Shaw Wallace & Comp. [SWCs] as the largest exporter of alcholic beverages for 1997-98.
- The Comp. has tied up with Winsome Breweries located in Alwar, Rajasthan & Mohan Meakins-owned Mohan Rocky Springwater Brewery located in Maharashtra.
- Director Special from Shaw Wallace has emerged as the most popular Indian whisky abroad. 1999 - Shaw Wallace has recently set up a disinvestment committee for recommending the methodology for speedy & transparent divestment of company agri-cheem, gelatine & the Sri Lanka based trading businesses.
- Liquor major Shaw Wallace and Comp. has entered into a strategic alliance with Nepal-based Himalayan Brewery Ltd for manufacturing seven lakh cases of its popular beer brands per annum to strengthen its presence in the north eastern region of India.
- Shaw Wallace and Comp. Ltd [SWCs] has proposed to suitably amend its Articles of Association to be able to buy back its shares & other specified securities from the existing shareholders and/or from the open market up to 25 per cent of aggregate of paid-up capital & free reserves.
2000 - Shaw Wallace and Co [SWCs] will launch a new premium Larger beer brand, exclusively for Kerala & Karnataka markets, United Breweries Ltd [UBs] strongest turfs in the country.
- Shaw Wallace & Comp. [SWCs] will merge six of its investment subsidiaries as part of second stage of its restructuring plan.
- Shaw Wallace and Co [SWCs] is planning to set up three to four greenfield plants in Goa, Kerala, Karnataka & Madhya Pradesh for manufacturing of its beer brands.
- Shaw Wallace and Comp. launched a new mild beer called `Hi-Five' in flint bottles of 650 ml.
- The Comp. has entered into a strategic alliance with Tamil Nadu-based Empee Breweries to manufacture 1.2 million cases of beer annually.
- Shaw Wallace & Co. has launched its flagship European strong beer brand `Lal Toofan' in the Indian market.
- Shaw wallace and Comp. Ltd has chalked out a major expansion plan for increasing its presence in the beer segment with four green field breweries.
- The Rs. 930-crore Shaw Wallace & Co. Ltd is setting up a new Web site which will incorporate its e-commerce model.
- The Comp. has struck its second strategic alliance to enhance its presence in Nepal alcoholic beverage market. The new alliance is with Singha Brewery limited SWC had earlier tied up manufacturing arrangements with Himalayan Breweries in Kathmandu.
- The Comp. proposed to set up a joint venture, a modern winery with a chateau surrouned by vineyard close to Bangalore, with an initial grape crushing capacity of 2,500 tonnes, expandable to 5,000 tonnes per annum.
- Shaw Wallace, a major alcoholic beverages Comp. of Jumbo Group of Manu R Chabria, has entered into a strategic alliance with Singha Brewery Ltd of Nepal.
- Mr. P.L. Narasimhan, Executive Director of corporate finance, Mr. M.H. Godhwani & Mr. Shankar Bhattacharya two Non-Executive Directors have resigned from the board of Shaw Wallace and Company.
- The Comp. will introduce a two-litre mega pack for its flagship premium whisky, Royal Challenge.
- Shaw Wallace & Comp. limited has entered into a strategic alliance with the Rajasthan-based Rainbow Breweries Ltd.
2001 - The Comp. to set up four more breweries in Kerala, Madhya Pradesh, Goa & Karnataka.
- Manu Chhabria controlled Shaw Wallace and Co. Ltd has set up a strategic planning department which will play an active role in taking decisions regarding capital expenditure, quality control & setting up new projects.
- Shaw Wallace and Co premium whiskey brand -- Royal Challenge which was withdrawn from the Delhi market, has been reintroduced.
- Shaw Wallace and Comp. is setting up breweries in Kerala, Madhya Pradesh, West Bengal & Karnataka at an investment of about Rs 100 crore. The first move to have a footprint in every state.
- Manu Chhabria, the Dubai based chairman of Shaw Wallace and Co [SWCs], the second largest spirit & beer Comp. in India, is on the look out for a new managing director for company.
2002
-Signs MoS with the companies Employees Union for shifting of its registered office from Kolkota to Maharashtra, which is accepted by Kolkota High Court.
-Shaw Wallace Employee Federation Union withdraws all the petitions against the Comp.
-Decides to set up a joint venture with India Breweries & sign capacity leasing contract to help to improve its brewing capacities.
-Dubai based M R Chabria group decides to acquire the entire 60.93% shares in the company.
-Senior Executive of company, Mr A K M A Shamsuddin joins McDowell as the Chief Operating Officer of company.
-Mr Vidya Manohar Chabbria appointed as the Chairperson of company.
-SWC faces a tax liability worth Rs.1000 cr.
-Public holding in SWA decreased by 0.5 crs.
-Appoints Mercer Human Resource Consulting for development & implementation of human resource road map.
-Mr Amar Sinha quits the Directorhip of company
-High court dismisses ad-interim relief petition of McDowell against Shaw Wallace & South African Breweries.
-Mr Asif Adil, Mr C K Hazari & Mr R A Shah ropes into the Comp. as the new directors.
2003
-Jumbo group nominates Kiran, Komal chhabria on the joint venture boardof Shaw Wallace Ccmpany & SABMiller. -SABMiller keen on buying strategic shares of Shaw Wallace and Co beer business.
-Enters into a Strategic Joint Venture with Mysore Breweries Ltd., Under which Mysore will hold 50% stake in Shaw Wallace Breweries Ltd
-Company hives off brewing & delisting ops.
-Forays into various wine companies for import & sale of range of wines in India.
-K K Modi group files a petition over SWC to recover outstandings of Rs. 72crs.
-Board approves for delisting of shares from 4 stock exchanges [ Delhi, Chennai, Bangalore & Ahmedabad s].
-Acquies 40% market share in the premium & deluxe brandy mart in Kerala.
-Appoints McKinsey to work out a business strategy for its liquor business.
-Mr Komal Chhabria, Executive Director Choosen as the winner of Young Achiever Award 2003 in the field of business instituted by society magazine.
- Investment banking & securities firm, Goldman Sachs, is believed to have mopped up some 10 lakh shares representing 2.09% of Shaw Wallace and Comp. [SWCs], from the open market.
-Delists shares from Bangalore Stock Exchange, Ahmedabad Stock Exchange, Madras Stock Exchange & Delhi Stock Exchange exchanges
-- Shaw Wallace has announced that Mr Deepak Chaudhuri, Head of Traditional Businesses, will takeover as the President of core liquor business with effect from April 1
2004
- SWC rolls out 'White Mischief' vodka in TN
-SWC rolls out tamper-proof rum in Kerala
- Shaw Wallace Agrochemicals Ltd, a subsidiary of Shaw Wallace and Comp. Ltd [SWCs], has been changed to SWAL Corporation Ltd, while Universal Pesto Chem Industries Ltd has become a subsidiary of SWC during fiscal 2003-04. In a bid to further streamline & restructure its business, the SWC management has initiated moves to amalgamate or merge at least 19 subsidiaries & associate companies of Shaw Wallace group.
