Surya Roshni Ltd History
BSE:500336 | NSE:SURYAROSNIEQ | IND:Steel - Tubes/Pipes | ISIN code:INE335A01020 | SECT:Metals - Ferrous
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The Company History page lists out the major events in chronological order for Surya Roshni Ltd.
| Company History - Surya Roshni Ltd. | ||
| YEAR EVENTS 1973 - Surya Roshni Limited was incorporated on 17th October, as private limited company and converted into Public Limited Company on 15th November, 1973. The company has been promoted by Shri Basudev Agarwal and his son Shri J.P. Agarwal. - The Company manufactures ERW Steel Pipes and Tubes both black and galvanised aluminium alloys, welding heads, GLS lamps, fluorescent tubes and tubular glass shells. The products of the lighting division are sold under the brand name `SURYA'. 1981 - 3,00,000 bonus equity shares issued in prop. 3:4. 1983 - 10,50,000 No. of Equity shares issued at par of which 75,000 shares reserved for allotment to employees, business associates, etc. The balance 9,75,000 shares, along with the unsubscribed portion of the reserved quota, if any, were offered for public subscription during June 1982. 1985 - In October-November, 10,50,000 Rights shares issued at par in prop. 3:5. 1986 - The Company increased the manufacturing capacity of GLS lamps to 15 million numbers per annum and also set up manufacturing facilities for glass shells for GLS lamps with a capacity of 30 million numbers per annum. - The Company embarked on modernisation of the steel tubes division and lighting division involving an expenditure of Rs 289 lakhs and 475 lakhs respectively. - It was also proposed to add new finishing facilities, expand storage area and streamline the manufacturing flow. - The fixed assets of the Company's steel tubes division were revalued as on 31st March. 1987 - 5,60,000 Rights equity shares issued at par in prop. 1:5. Additional 1,40,000 shares allotted to retain over subscription. Another 14,745 shares allotted at par to employees, etc. 1988 - The Company undertook installation of additional chain for manufacturing energy saving 26 mm fluorescent tube lamps. 1989 - Additional equipments consisting of 4 rolls unit, mill caze system, conveyors etc. were installed for production of larger dia pipes upto 350 mm. - During November, the Company offered 7,02,949-14% secured fully convertible debentures of Rs 140 each to the then existing equity shareholders in the ratio of 5 debentures for every 25 equity shares held. Additional 1,05,442 debentures were allotted to retain over-subscription. - Simultaneously, 35,148 debentures were offered to employees (including Indian working directors)/workers of the Company under stock option scheme. Only 818 debentures were taken up and the remaining 34,330 debentures were allowed to lapse. - Rs 100 of the face value of each debenture was to be converted into five equity shares of Rs 10 each at a premium of Rs 10 per share within 6 months from the date of allotment of debentures. Accordingly 40,46,045 No. of equity shares were allotted. - The remaining Rs 40 of the face value of each debenture was to be converted into two equity shares of Rs 10 each at a premium of Rs 10 per share within 12 months from the date of first conversion of the debentures. 1990 - The company changed its name to "Surya Roshni Limited" from Prakash Tubes, Ltd. on 14th December. 1991 - The lighting division undertook investment programmes worth Rs 35 crores comprising creation of additional capacities of 4 million of fluorescent tube lamps, 10 million GLS lamps at Malanpur and at Kashipur 10 million GLS lamps, 34 million GLS filaments, 9.25 million of tubular glass shells for fluorescent tube lamps, 16 million of cathode for fluorescent tube lamps and a new project of lead glass of 1700 tonne capacity. - The Company issued 6,00,000-19% secured non-convertible debentures of Rs 100 each on private placement basis with financial institutions. These are redeemable in three equal annual instalments commencing from 16th September, 1997 at a premium of Rs 5 per debenture payable along with second installment. 1993 - The Steel Division not only consolidated its position but also expanded its network geographically. - The Company set up a joint venture with Osram GmbH under the name of Osram Surya Pvt. Ltd. to manufacture energy efficient and latest innovative lamps. - The Company allotted 1,75,000 No. of equity shares of Rs 10 each at a prem. of Rs 58 per share and 33,25,000 No. of equity warrants exchangeable into equal number of equity shares of Rs 10 each at a prem. of Rs 65 within a period of 18 months from the 14th April, 1994. - During March-April, the Company issued 18,35,841-16% secured partly convertible debentures of Rs 100 each on Rights basis in prop. 1 debenture : 5 equity shares held (all were take-up) on 27.9.95. - Another 91,792 - 16% debentures of Rs 100 each were offered to employees on an equitable basis. - Part A of Rs 40 was converted into 1 equity share of Rs 10 each at a prem. of Rs 30 per shares and accordingly 18,35,841 shares were allotted. - Part B of Rs 60 was to be redeemed in 3 equal annual instalments at the end of 7th, 8th and 9th years respectively from the date of allotment of debentures i.e. on 27.9.95. 1994 - The Company undertook to set up five new sales offices, introduce new products viz. 200 W lamp, 500 W lamp, RC lamp, long life incandescent lamp, high pressure mercury vapour lamp, night lamp, decorative lamp, H-3 auto-halogen lamp & MR 16 spot light halogen lamp. - The Company undertook to implement ribbon glass shell project, tube drawing project, lamp cap project, GLS filament project and electrostatic coating machine. - The Company also entered into a tie up for a foreign currency loan of Rs 51.56 crores. - 1,75,000 No. of equity shares allotted at a premium of Rs 58 per share to promoters and their associates on pref. basis. 1,35,951 No. of equity shares allotted on each of warrants. 84,94,500 bonus shares issued in prop. 3:4. 3,57,000 shares allotted against bonus and equity warrants. 1995 - During February, the Company allotted 23,91,750 bonus equity warrants in prop. 3:4 against equity warrants held by the warrant holders. - 52,23,750 shares allotted against equity warrants and bonus warrants. 1996 - Lighting division Installation of 2 nos. 50 KVAR each banks one in Halogen Plant and another in QC Deptt. to reduce line losses in the cables and maintained power factor by 99% through out the year. 1998 - Surya Roshni has become the leading manufacturer of lighting products in India in less than a decade. Not only in the domestic market but Surya Roshni is also doing well overseas. - The lighting division of Surya Roshni has international standard manufacturing facility at both its plants at Kashipur (UP) and Malanpur (MP). These ISO 9002 certified, fully integrated plants produce ultra-modern lamps and their components. 1999 - The company has sought the Government approval for bringing in additional foreign investment into the venture to buy out Surya Roshni's stake and to bring appropriate amendments to the existing foreign collaboration agreement. - Surya Roshni is the second largest company in the lighting industry. - The company has commissioned a state-of-the-art ribbon glass plant in Malanpur, Gwalior. 2000 - The company has informed the exchange that ICRA has downgrade the rating of its venture programme from LA+ to LA. - The Company has set up Surya Herbal Ltd., a separate company to deal with herbal products. 2003 - 1) Reappointment of Sh. B D Agarwal as Managing Director of the Company 2) Appointment of Sh. B B Chadha as an Additional Director on the Board of the Company who holds Nil shares of the Company. -Shri Prakash Chandra Gupta has resigned from the BOD. -Gets award for energy efficiency -Delists equity shares from Ahmedabad Stock Exchange 2004 Surya Roshni Ltd has informed that in response to the Voluntary Delisting of shares sought by the company, its shares have been delisted from the Delhi Stock Exchange Association Limited w.e.f. March 31, 2004. -Surya Roshni Ltd has informed that Shri R K Narang, director of the company, has been resigned from the office w.e.f. May 21, 2004 2009 - Surya Roshni Ltd has informed that the Board of Directors of the Company at its meeting held on June 18, 2009, inter alia, has transacted the following: 1. Appointed Sh. Ravindra Kumar Narang & Sh. Mukesh Tripathi as an Additional Directors of the Company. 2. Appointed Sh. Raju Bista as Whole Time Director of the Company. 2010 - Surya Roshni launched its high-power factor CFL lamps in the Kerala market. 2011 -Surya Gets Award for Energy Conservation -Surya Roshni Ltd has recommend the dividend @ Rs. 1.50 per share 2012 -Shri Deepak Goel has been appointed as Chief Financial Officer (CFO) of the Company. -Surya Roshni Ltd has declared the Interim Dividend @ Rs. 2.00 per Equity Share 2013 -WIPO orders transfer of domain name to Surya Roshni. -Surya Roshni has recommended the final dividend @ Re. 1.00 per Share on the paid-up Equity Share capital. 2014 -Surya enters into Home Appliances Business. -Surya Roshni which has two divisions namely the steel division and the lighting division stated that it has forayed into the fans category by introducing several ceiling, table, pedestal and wall mounting fans. -Surya Roshni has recommend the final dividend @ Re. 1.00 per Share on the paid-up Equity Share capital. 2016 -Surya Roshni ties-up with Snapdeal to enter e-commerce space -Surya Roshni bags orders from EESL for LED bulbs -Surya Roshni secures order worth Rs 60.55 crores -Surya Roshni bags Rs 27.6 cr LED tube lights order from PSUs | ||
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Cash Flow Statement
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