Kore Foods History
BSE:500458 | IND:Miscellaneous | ISIN code:INE601A01017 | SECT:Miscellaneous
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The Company History page lists out the major events in chronological order for Kore Foods Ltd.
| Company History - Kore Foods Ltd. | ||
| The Company was Incorporated on 20th January,1983 under the name of Goa Optics Pvt. Ltd., as a private limited company. It was promoted by Photophones Ltd., together with Moorad Fazalbhoy, Abdullah Fazalbhoy, Indovest Holdings Pvt. Ltd., Alliance Consultancy Services Pvt. Ltd., and Gulmohr Trading Co. Pvt. Ltd. The Company's objects is to manufacture photographic cameras, photographic and cinematographic film laboratory and photo-finishing machinery, accessories and spares, audio-visual sound equipment and photo-sensitive material and chemicals. 1984 - All shares held by promoters, directors, etc. Equity shares of Rs.100 each subdivided into shares of Rs.10 each from 8-2-1985. 1985 - The name of the company was changed to Photophone Industries India Pvt. Ltd., on 8th February, and it became a public limited company on 27th March. - The Company established the following manufacturing lines at its plant located in Goa :- - (i) Photographic cameras with product base from Minolta Camera Co. Ltd., Japan and Goko Industrial Co. Ltd., Japan. - (ii) Photographic and cinematographic film laboratory and photo-finishing machinery, accessories and spares with product base from Gretag San Marco Spa of Italy, a subsidiary of Ciba Geigy Group, Switzerland and - (iii) audio-visual and sound equipment with product base from Hanimex, Ireland and through indigenous research and development activities. - The Company manufactures a complete range of 110 mm and 35 mm format cameras and they are marketed under the brand name of "HOT SHOT". A range of world class flash units are also offered. The company's product range also includes photo-sensitive materials such as PICCOLO film, paper and chemicals starting with 120 mm and 135 mm format black and white film, in addition to fine-grain and high-resolution 110 mm and 135 mm format colour films. The product range was widened with the introduction of a sophisticated camera viz., MINOLTA Photophone AF-E. - 15,50,000 No. of equity shares issued at par of which the following shares were reserved for allotment: - (i) 3,50,000 shares to promoters, etc., - (ii) 95,000 shares to employees of the company and - (iii) 24,000 shares to business associates of the company. All but 9,900 shares of the employees quota were not taken up. The balance 10,81,000 shares along with 9,900 shares not taken up by the employees were offered to the public in October. 1987 - The Company launched the mini hot shot cameras. The Company entered the instant photographic business with the introduction of the "In a snap" system. - Three new models of cameras of contemporary design were introduced and the company developed the country's smallest size 110 mm format camera for low end of the market. Konica brand of photographic colour paper offered in different finishes such as glossy, lustre and silk were received in the market. - In co-operation with Konica Corporation, the company introduced a new generation of processing chemicals called "Washless chemistry" that obviated the need for water in processing films and paper. Two new products viz., a portable overhead projector for education and training and a new model of an inexpensive 35mm camera were introduced. - The Company installed instant photographic systems designed to use Polaroid films, in 89 towns. - The Company started new system of `franchised labs' using photophone's mini lab equipment with the facility to the franchisees to pay franchise fees over a period of time. 23 such franchised labs were established under the said system. - In association with Konica Corporation, the company introduced `Konica Square' a fully computerised franchised photofinishing lab. The Company proposed to establish around 100 such labs all over the country. - The Company proposed to enter into the opthalmic industry by investing in the equity capital of Sola Photophone Optical Pvt. Ltd., a new company established in July, for the manufacture of hard resin optical lenses. In this connection, the Company proposed to collaborate with Sola Organization, a part of the Pilkington Group, U.K. - During April-May, the company offered 5,00,000 - 13.5% fully convertible debentures of Rs.120 each for cash at par on rights basis in the prop. 1 debenture : 4 equity shares held (all were taken up). - Another 62,225 debentures were allotted to retain over subscription. In addition, the company offered 25,000 - 13.5% convertible debentures of Rs.120 each for cash at par to the employees (including Indian working directors) of the company and associate company (only 7,775 debentures were taken up). The unsubscribed portion was allowed to lapse. 1988 - Rs.60 of the face value of each debenture was converted into 2 equity shares of Rs.10 each at a prem. of Rs.20 per share on the expiry of 6 months from the date of allotment ie., on 1st February. - The remaining Rs.60 of the face value of each debenture was also converted into 2 equity shares of Rs.10 each at a prem. of Rs.20 per share on 31st December. - 22,80,000 shares allotted (prem. Rs.20 per share) in conversion of 13.5% debs. 1989 - The Company commenced export of "In-a-snap" system to Polaroid Corporation for distribution in overseas markets. - Photophone's `Konica Square' grew to 30 labs. - The Company received a COB licence for conversion of colour film at its Goa plant. 1990 - The Company launched "Polaroid Studio Express", a new concept in documentary photography. - A Memorandum of Understanding was signed with Konica Corporation, Japan for the implementation of conversion of colour film project. 1991 - A new product "Hot Shot Macro" was launched and in the area of instant photography, a unique glass coated plastic scratch resistant lens was developed by Polaroid Corporation to help achieve extremely good resolution without any increase in cost. - The Company decided to defer the project in view of the restriction on foreign exchange that made in different to finance the import of equipment for the Konica Film project. - The Company made an application to the Govt. for setting up a EOU to respond better to the needs of the international market. 1992 - The Company offer 42,80,000 No. of equity shares of Rs.10 each at a prem. not exceeding Rs.5 per share on Rights basis in the prop. 1:1. - Another 2,14,000 shares of Rs.10 each at a prem. not exceeding Rs.5 per share were to be offered to the employees of the company on an equitable basis. 1993 - 52,10,500 No. of equity shares allotted (Rights basis & to Polaroid Corporation U.S.A). 1995 - Konica VX series of photographic films were successfully launched. 1996 - During the last quarter of the year, the company launched "Country Club" nuts in select markets which was well accepted in the market. - Several new products including the Galaxy series of overhead projectors and LCD panels under the brand name `Phil Systems' were introduced. - The Company undertook to expand its activities by the establishment of additional manufacturing lines. The main projects in hand are (i) establishment of backward integration of conversion facilities for photographic paper, paper board, cloth and film with product-base from Mitsubishi Corporation of Japan, (ii) manufacture of large screen video projectors with product-base from Borco Electronic, Belgium and (iii) manufacture of photographic chemicals and printing and packing material through indigenous technology. It was also proposed to expand the production capacity of cameras to 2,50,000 nos. per annum. 2003 - Shri Ramapati Singhania has resigned as a Director of the Company. Shri J F Alapatt has been nominated by IDBI as a "Nominee Director" on the Board with effect from September 03, 2003. At the said meeting Shri A. V. Gaikwad has been appointed as the Executive Director of the Company subject to the approval of the Central Government/Shareholders at the General Meeting as may be applicable. Shri A. V. Gaikwad will also continue to be the "Company Secretary" and "Compliance Officer" of the Company. 2008 -PHIL Corporation Ltd has designated E-mail ID for Investors Complaints [email protected] 2012 -Mr. B. S. Sridhara has been appointed as the Managing Director of the Company 2015 - Company has changed its name from 'Phil Corporation Ltd.' to 'Kore Foods Ltd.' | ||
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Capital Structure
Chairman's Speech
Company History
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Cash Flow Statement
Half Yearly Results
Capital Structure
Chairman's Speech
Company History
Locations
Dividends
Splits
Competitors
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