CHAPTER-4 PROFILE OF SELECTED COMPANIES IN INDIAshodhganga.inflibnet.ac.in/bitstream/10603/3493/11/11_chapter 4.pdf · 4.3.1.1 Britannia Industries Ltd (11, 24, 40) The Company was

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CHAPTER-4

PROFILE OF SELECTED COMPANIES IN INDIA

The Company Profiles are arranged according to N I C Classification and the

number adjacent to the name of the company indicates the serial number of the

company including multiple buy-backs as indicated in Table 1.

4.1 Agriculture, Forestry and Fishing

4.1.1 Gujarat Ambuja Exports Ltd (50)

Gujarat Ambuja Exports Ltd. promoted by Mr. Vijay Kumar Gupta was

incorporated in Ahmedabad in the State of Gujarat, on 21st August 1991.

The immediate object of the company is to manufacture agricultural food

products and exports them to various countries. The company deals in various

segments such as cotton Yarn, solvent extraction, edible oil refinery, vanaspati

ghee, maize processing flour mill, cattle feed and wind mill.

The authorized share capital was `7.5 crores and the paid up share capital was

`7.25 crores in the year 1992. The company declared a split in face value of

share from `10 to `2 per share. It issued rights shares in the ratio of 1:4 on 9th

February 1999.

It bought back 9,66,615 equity shares during 16th April 2007 to 15th January

2008 at an average share price of `34.26 per share amounting to `3.31 crores

and reduced the share capital to `27.67 crores after buy-back. The paid up

equity share capital was `27.67 crores and reported net profit was `60.02

crores for the year ending 2010.

4.2 Mining And Quarrying

4.2.1 Selan Exploration Technologies Ltd. (1, 4, 20, 34)

Selan Exploration Technology Limited was incorporated in the Union Territory

of Delhi as private limited company. It became public limited company with

effect from 15th October 1990.

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The company is presently undertaking seismic data acquisition work for Oil &

Natural Gas Commission (ONGC) in Cauvery Basin in South India and is

concerned with 3D seismic data acquisition, processing and interpretation

(API) activity in Bakrol and Indrora oilfields.

The authorized share capital was `19 crores and the paid up share capital was

`7.84 crores in the year 1993. The company declared bonus shares on

22nd November 2010 in the ratio of 1:10.

It bought back 7,12,750 equity shares during 8th March 2000 to 25th September

2000; 14,93,200 equity shares during 3rd April 2001 to 22nd November 2001;

10,49,950 equity shares during 8th April 2002 to 29th January 2003 and

8,28,030 equity shares during 17th May 2003 to 21st May 2004 at an average

share price of `10.99, `11.65, `10.72 and `15.98 per share amounting to `0.78

crores, `1.74 crores `1.112 crores, `1.323 crores respectively and reduced the

share capital to `16.73 crores, `15.3 crores, `14.25 crores and `13.422 crores

respectively after buy-backs. The paid up equity share capital was `15.44

crores and reported net profit was `28.80 crores for the year ending 2010.

4.3 Manufacturing

4.3.1 Packaged Foods, Foods Processing

4.3.1.1 Britannia Industries Ltd (11, 24, 40)

The Company was incorporated on 21st March 1918, as a public limited

company under the Indian Companies Act, VII of 1913. With effect from 3rd

October 1979, the name of the Company was changed from the Britannia

Biscuit Co., Ltd., to Britannia Industries Ltd. The main business of the

company includes manufacture of bakery and soyabean products, export of

cashew kernels and general merchandise items.



26th July 1983, 7th October 1987, 7th October 1990 and 26th May 1999 in the

ratio of 2:5, 2:5, 1:2, and 1:2 respectively and also effected a split in face value

of share from `10 to `2 on 27th May 2010.

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It bought back 10,00,000 equity shares during 9th October 2001to

28th November 2001, 17,38,400 equity shares during 5th September 2002 to

3rd June 2003 and 12,21,887 equity shares from the open market at an average

share price of `533.15, `529.13, and `636.81 per share, amounting to `53.32

crores, `91.984 crores and `77.81 crores respectively and reduced the share

capital to `26.85 crores, `25.112 crores and `23.89 crores respectively after

buy-back. The paid up equity share capital was `23.89 crores and reported net

profit was `116.51 crores for the year ending 2010.

4.3.1.2 Heritage Food (India) Ltd (16)

The company was promoted by N. Chandrababu Naidu and Associates and was

incorporated on 5th June 1992 as Public Limited in Hyderabad, Andhra

Pradesh. The main object of the Company is to manufacture process and deal in

milk and various milk products.


`0.81 crores in the year 1993. It bought back 8,10,000 equity shares during

24th January 2002 to 1st April 2002 at an average share price of `27.62 per

share amounting to `2.24 crores and reduced the share capital to `9.99 crores

after buy-back. The paid up equity share capital was `11.53 crores and reported

net profit was `5.72 crores for the year ending 2010.

4.3.1.3 Venky’s (India) Ltd (25)

The company was incorporated in Pune, Maharashtra on 1st July 1976 as a

Private Ltd. Company and was converted into a Public Ltd. Company

- Western Hatcheries Ltd on 12th December 1988. The name was changed to

Venky’s (India) Ltd on 21st June 2000.

The company is a part of the Venkateshwara Hatcheries (VH) Group of

companies, pioneers in the field of poultry farming and is engaged in poultry

breeding and farming and also in the manufacture of animal health products

and S.P.F. eggs (Specific Pathogen Free Eggs) used in the manufacture of

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human, animal and poultry vaccines. It has a technical collaboration with

SOAFAS INC. USA.



13th August 1989 and 29th May 2001 in the ratio of 2:1 and 1:3 respectively. It

bought back 8,74,992 equity shares during 19th September 2002 to 11th June

2003 at an average share price of `50.61 per share amounting to Rs4.43 crores

and reduced the share capital to `9.4 crores after buy-back. The paid up equity

share capital was `9.4 crores and reported net profit was `54.32 crores for the

year ending 2010.

4.3.2 Beverages

4.3.2.1 Jayshree Tea and Industries Ltd (6)

The company was promoted by the Birla Group and incorporated at Calcutta in

1945 as Jay Shree Tea Gardens Ltd., which was renamed as Jay Shree Tea and

Industries Ltd. It is a part of well diversified conglomerate of B.K. Birla Group.

This company carries on the business of tea plantations purchase and sales of

tea within India, as well as export of teas, warehousemen for sorting tea,

manufacture of all types of decorators plywood, blackboard, flush doors

plywood packing cases of all types known as timber packing, products and

manufacture of chemicals single super phosphate and sulphuric acid and

fertilisers. The company also owns tea warehouse in Calcutta for storing teas,

two plywood factories viz. Woodcrafts Assam in Mariani and Jayshree Timber

products in Bakultala and a factory for manufacturing chemicals and fertilisers

in Khardah. It recently made a foray into sugar industry and is also engaged in

real estate business having developed several properties at Kolkota and

Begaluru.



26th August 1969, 26th August 1974, 26th August 1977, 26th August 1981,

26th August 1986 and 7th July 1998 in the ratio of 1:4, 1:3, 1:4, 1:2, 1:2, and 1:1

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respectively. It bought back 4,02,034 equity shares during 4th June 2001 to 30th

March 2002 at an average share price of `51.20 per share amounting to `2.6

crores and reduced the share capital to `10.67 crores after buy-back. The paid

up equity share capital was `11.17 crores and reported net profit was `61.70


4.3.3 Sugar

4.3.3.1 E.I.D. Parry ( India) Ltd (70)

The Company was incorporated on 22nd September 1975 and it joined the

Murugappa Group in 1981.

The main business of the company includes the manufacture and sale of sugar,

spirit, carbonic acid gas, ceramics, chemicals, fertiliser mixtures, complex

fertilisers, plant protection products, animal feeds, processed seeds, distribution

of fertilisers, consumer and engineering products, assembling of generating

sets, export of marine and other products, etc.



share from `10 to `2 on 21st March 2005 and from `2 to `1 on 25th October

2010. It issued rights shares in the ratio of 1:2 on 30th October 1993.

It bought back 27,78,540 equity shares during 15th December 2008 to

9th February 2009 at an average share price of `141.18 per share amounting to

`44.26 crores and reduced the share capital to `17.22 crores after buy-back.

The paid up equity share capital was `17.27 crores and reported net profit was

`205.28 crores for the year ending 2010.

4.3.4 Textiles

4.3.4.1 Raymonds Ltd (3)

The Company was incorporated on 10th September, 1925 at Mumbai. At

present the registered office of the company is at Ratnagiri Maharashtra and the

house name is Singhania (KS) Group, It manufactures woollen and worsted and

hosiery yarns, knitting wool, engineers' steel files and cement.

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`0.5 crores in the year 1925 which gradually increased to Rs 100 crores and

`75.96 crores in 1999. The company declared bonus shares on 3rd September

1988 and 4th February 1996 in the ratio of 1:1 and 1:2 respectively. It issued

rights shares in the ratio of 3:11 and 1:1 on 30th September 1993 and

11th February 1996.

It bought back 1,37,10,083 equity shares during 7th March 2001 to 27th April

2001 at an average share price of `186.94 per share amounting to `186.252

crores and reduced the share capital to `61.38 crores after buy-back. The paid

up equity share capital was `61.38 crores and reported net profit was `26.37


4.3.4.2 Winsome Yarns Ltd (8,21)

The Company was incorporated on 19th July 1990 at Jalandhar. The main

business of the company is to manufacture yarns and knitwear.



share from `10 to `1 per share on 30th July 2009.

It bought back 4,11,605 equity shares during 20th August 2001 to 1st October

2001 and 8,33 ,016 equity shares during 2nd May 2002 to 21st August 2002 at

an average share price of `7.01 per share and `8.25 per share amounting to

`2.89 crores and `6.87 crores respectively and reduced the share capital to

`26.499 crores and `25.666 crores respectively after buy-back. The paid up

equity share capital was ` crores and reported net loss was `12.07 crores for

the year ending 2010.

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4.3.4.3 Bombay Dyeing And Manufacturing Co. Ltd (10, 27)

The company was incorporated on 23rd August 1879, at Mumbai by

Nowrosjee Wadia in 1879 with an initial capital of `0.1 crores as a small

operation of Indian spun cotton yarn dip dyed by hand.

Now, it manufactures cotton textile goods and non-woven fabrics. The textile

products are sold under the trade name TEXSPRING, SPRINGTEX, etc.

Operations other than spinning and weaving undertaken are bleaching, dyeing,

printing, mercerising, sanforising, tebilizing, Hecowa and other finishings.


`2.51 crores in the year 1957 which gradually increased to `41 crores in 1999.

The company declared bonus shares six times - on 17th June 1967, 17th June

1974, 17th June 1976, 17th June 1980, 17th June 1987 and 7th October 1990 in

the ratio of 1:5, 1:5, 1:5, 1:1, 1:1 and 1:1 respectively. It issued rights shares in

the ratio of 1:5 on 30th September 1993.

It bought back 18,26,954 equity shares during 9th September 2001 to 23rd July

2002 and 7,18,305 equity share during 6th November 2002 to 29th August 2003

at an average share price of `40.7 per share and `46.54 per share, amounting to

`74.36 crores and ` 33.43 respectively, and reduced the share capital to

`39.175 crores and `38.457 crores after respective buy-back. The paid up



4.3.4.4 Reliance Industries Ltd (41)

On 11th February 1966, Reliance Textiles Industries Pvt Ltd was incorporated

in Maharashtra. It established a synthetic fabrics mill in the same year at

Naroda in Gujarat. On 1st July 1975, Reliance Textile Industries Ltd was

amalgamated with Mynylon Ltd. With effect from 11th March 1977 the name

of Mynylon Ltd was changed to Reliance Textiles Industries Ltd.

The company manufactures synthetic blended yarns and fabrics polyester

filament yarn polyester staple fibre chemicals and allied products, colour TV

glass shells and colour TV picture tubes. The Company's yarns are marketed

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under various brand names such as Texalit, Textron, Texlene, Poly dyed and

polytwist. The company's fabrics are marketed under the brand name VIMAL.


`5.95 crores in the year 1975. The company declared bonus shares on 28th

October 1983, 13th September 1997, and 7th October 2009 in the ratio of 3:, 1:1,

and 1:1. It issued rights shares in the ratio of 1:20 on 30th September 1991.

It bought back 28,69,495 equity shares during 10th January 2005 to 5th August

2005 at an average share price of `521.38 per share amounting to Rs149.61

crores and reduced the share capital to `1396.51 crores after buy-back. The

paid up equity share capital was `3270.37 crores and reported net profit was


4.3.4.5 SRF Ltd (47, 61)

The Company was promoted by Cloth and General Mills Company Limited,

(DCM) and was incorporated on 9th January1970 at New Delhi as Shri Ram

Fabrics Ltd to manufacture nylon tyre cord fibres. It was changed to SRF

Limited with effect from 2nd May 1980.

Though it started with the manufacture of nylon tyre cord fibres, SRF is a

multi-business entity engaged in the manufacture of chemical based industrial

intermediates. Today, its business portfolio covers technical textiles as tyre

cord, belting fabrics, coated fabrics, industrial tarn and laminated fabrics

chemicals as fluorochemicals and fluoro specialties, packaging films and

engineering plastics, shipping and leasing.



25th August 1983 in the ratio of 1:2. It issued rights shares in the ratio of 1:2,

1:10, 2:5, 3:5, 3:5, and 1:60 on 28th January 1994, 28th September 1994,

12th December 1995, 3rd January 1997,13th March 1997 and 15th January 1998

respectively.

It bought back 16,084 equity shares during 3rd July 2006 to 26th September

2006 and 73,81,425 equity shares during 2nd July 2008 to 20th April 2009 at an

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average share price of `197.20 and `94.82 per share amounting to `31.25

crores and `70 crores respectively and reduced the share capital to `64.51

crores `60.5 crores respectively after buy-back. The paid up equity share

capital was `60.5 crores and reported net profit was `309.42 crores for the year

ending 2010.

4.3.5 Plastics

4.3.5.1 Finolex Industries Ltd (5, 22)

The company was incorporated on 28th March, in Maharashtra as a private

limited company and was converted into a public limited company on

1st December, 1988. It was promoted by P.P. Chhabria and his Associates. The

company acquired a manufacturing plant at MIDC Chinchwad, Pune and

started commercial production of PVC pipes in May 1981. It manufactures

PVC Pipes and fittings and PVC resins.

The initial authorized share capital was `0.2 crores and the paid up share

capital was `0.2 crores in the year 1981. The company declared bonus shares

on 6th May 1989 in the ratio of 4:1 .It issued rights shares in the ratio of 1:2 at a

premium of `30 per share on 30th September 1992. It bought back 1,99,78,977

equity shares during 26th April 2001 to 2nd April 2002 and 52,00,347 equity

shares during 19th August 2002 to 26th July 2003 at an average share price of

`27.73 and `34.24 per share amounting to `55.41 crores and `17.81 crores

respectively after buy-back, thereby reducing the share capital to `129.22

crores and `124.18 crores respectively after buy-back. The paid up equity share

capital was `124.03 crores and reported net profit was `132.32 crores for the

year ending 2010.

4.3.5.2 Supreme Industries Ltd (69)

The Company was promoted by R Thaparia Group and was incorporated in

1942 at Mumbai with an authorized capital of `0.06 crores and a paid up

capital of `0.03 crores. The Company manufactures industrial and engineering

moulded products, storage and material handling crates, multilayer sheets,

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multilayer films, packaging films, expanded polyethylene foam, PVC pipes and

fittings, moulded furniture, sataranj mats, disposable EPS containers, etc.



29th April 1981, 29th April 1986, 29th April 1988 30th July 1992 and 1st August

2006 in the ratio of 2:5, 4:5, 1:1, 1:1 and 1:1and also announced a split in face

value of share from `10 to `2 on 16th July 2010 .It issued rights shares in the

ratio of 1:8 at a premium of `190 per share on 28th February 1993.

It bought back 22,16,300 equity shares during 8th December 2008 to

9th February 2009 at an average share price of `110.86 per share amounting to




4.3.6 Personal Products

4.3.6.1 Godrej Consumer Products Ltd. (15, 23, 29, 36, 37, 43, 68)

Godrej Consumer Products Ltd. was established in 1897, by Ardeshir Godrej,

and his brother Pirojsha Godrej- Godrej Group. On 31st March 2001 the

consumer products division got de-merged into Godrej Consumer Products,

and the residual Godrej Soaps became Godrej Industries. This led to the

formation of two separate corporate entities: Godrej Consumer Products and

Godrej Industries. Godrej Consumer Biz Ltd. (GCBL) and Godrej Hygiene

Care Ltd. (GHCL) were amalgamated with Godrej Consumer Products Ltd.

(GCPL) on 15th October 2009.

Today, Godrej Consumer Products (GCPL) is a leader among India’s Fast

Moving Consumer Goods (FMCG) companies, with leading Household and

Personal Care Products as soaps, hair colour, detergents and fatty acids.


`23.64 crores in the year 2001. The company announced a Stock split on

26th April 2006 thereby reducing the face value of share from `4 to `1. It also

implemented a rights issue on 23rd November2007 in the ratio of 1:7 at a

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premium of `122/-per share thereby, increasing the share capital to `25.81

crores.

It bought back equity shares seven times during 21st January 2002 to 4th June

2002, 12th August 2002 to 30th September 2002, 24th January 2003 to

17th September 2003, 30th October 2003 to 31st March 2004, 4th May 2004 to

15th October 2004, 23rd May2005 to 7th July 2005 and 4th December 2008 to

4th March 2009. The number of shares bought back were 14,64,593, equity

shares, 4,11,962, equity shares, 8,76,133 equity shares, 2,26,758, equity shares,

2,45,042, equity shares 1,43,448, equity shares and 11,22,484 equity shares

respectively, at an average share price of `17.77, `110.94, `113.68, `161.41,

`197.92 and `132.74 per share, amounting to `2.602 crores, `4.57 crores,

`9.96 crores, `3.66 crores, `4.85 crores and `14.90 crores respectively and

reduced the share capital to `23.35 crores, `23.18 crores, `22.83 crores, `22.74

crores, `22.64 crores, `22.58 crores and `22.472 crores after respective

buy-backs. Though the company has implemented seven buy-back

programmes, the percentage of shares bought back was not more than 2% of

the total equity shares of the company at each buy-back. The paid up equity

share capital was `30.82 crores and reported net profit was `248.12 crores for


4.3.6.2 Hindustan Unilever Ltd (54)

Lever Brothers India Limited (LBIL) was incorporated in 1933 at Kolkata

West Bengal in India to manufacture soaps. On 27th October 1956, the Co. was

converted into a Public Ltd. Co. On 1st November 1956, Hindustan Vanaspati

Mfg. Co. Pvt. Ltd., William Gossage & Sons (India) Pvt. Ltd. and Joseph

Crosfield & Sons Unilever Ltd. were amalgamated with LBIL and the name

was changed to Hindustan Lever Ltd which was again changed to Hindustan

Unilever Ltd on 10th July 2007.

The company manufactures various personal products as detergents, synthetic

soaps, tea, coffee, canned and processed fruits and vegetable products, branded

staple food, processed hydrogenated oils/ vanaspati, glycerine etc.

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The authorized share capital was `214.75 crores and the paid up share capital

was `214.75 crores in the year 1999. The company declared bonus shares four

times on 22nd June 1979, 22nd June 1983, 22nd June 1987 and 30th September

1991 in the ratio of 1:3, 3:5, 1:1 and 1:2 respectively and a split in face value of

share from `10 to `1 on 5th July 2000. It bought back 3,02,35,772 equity shares

during 3rd October 2007 to 1st February 2008 at an average share price of `207

per share amounting to `626.27 crores and reduced the share capital to `217.75

crores after buy-back. The paid up equity share capital was `218.17 crores and

reported net profit was `2202.03 crores for the year ending 2010.

4.3.7 Commodity Chemicals

4.3.7.1 Jindal Poly Films Ltd (74)

The company was incorporated on 9th September 1974 as Hindustan Pipe

Udyog Limited and was promoted by the Jindal group of Company. In 1985,

the name was changed to Jindal Polyester and Steel Ltd. which was again

changed to Jindal Polyester Ltd. effective from 17th January 1995. India

Polyfilms Ltd and Patel Polyproducts Ltd were amalgamated with the company

in 1999.The company was renamed as Jindal Poly Films Ltd on

8th March 2005. The company started with the manufacturing of ERW steel

pipes and tubes, black and galvanised, at Jindal Nagar, District Ghaziabad, U.P.

In 1985 the company diversified its activities by setting up a unit for the

manufacture of polypropylene filament yarn and polyester filament yarn at

Gulaothi, U.P and high value addition solid state polycondensation chips (SSS)

i.e. bottle grade, mono-filament grade and film grade polyester polymer chips

suitable for PET bottles as mono filament yarn.


`2.31 crores in the year 1991 which was gradually raised to `28.1 crores in

2006. The company declared bonus shares on 13th February 1996 and

3rd September 2010 in the ratio of 1:1 and 1:1 respectively. It issued rights

shares in the ratio of 1:1 and 2:1 on 18th April 1995 and 18th July 1995, thereby,

raising the equity share capital from `6.17 crores to ` 12.34 crores. It bought

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back 32,34,492 equity shares during 22nd December 2008 to 5th May 2009 at an

average share price of `270.17 per share amounting to `87.39 crores and

reduced the share capital to `23.02 crores after buy-back. The paid up equity

share capital was `23.02 crores and reported net profit was `208.38 crores for


4.3.7.2 Godrej Industries Ltd (82)

The Godrej Soaps Ltd. was incorporated on 7th March 1988, and was promoted

by the Godrej Group (the major companies in the group being Godrej Soaps

Ltd. and Godrej & Boyce Mfg. Co. Ltd.) along with Gujarat Industrial

Investment Corporation Ltd. (GIIC) in the associate sector. The company was

called Godrej Soaps until 31st March 2001. Thereafter, the consumer products

division got de-merged into Godrej Consumer Products, and the residual

Godrej Soaps became Godrej Industries. This led to the formation of two

separate corporate entities: Godrej Consumer Products and Godrej Industries.

The Company manufactures alpha olefins and related products. Godrej

Industries is India's leading manufacturer of oleochemicals and makes more

than a hundred chemicals for use in over two dozen industries. It also

manufactures edible oils, vanaspati and bakery fats. Besides, it operates in real

estate.


`4.32 crores in the year 1990 which was gradually raised to `31.98 in the year

2007. The company declared bonus shares on 29th April 1992 and 26th July

1995 in the ratio of 5:1 and 1:2 respectively and a split in face value of share

from `10 to `6 in the year 2005 and `6 to ` 1 in the year 2006. It issued rights

shares in the ratio of 3:4 on 3rd October 1999. It bought back 21,33,710 equity

shares during 25th May 2009 to 24th July 2009 at an average share price of

`135.30 per share amounting to `28.87 crores and reduced the share capital to

`31.76 crores after buy-back. The paid up equity share capital was `31.76


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4.3.8 Industrial Gases

4.3.8.1 Gujarat Fluorochemicals Ltd (64)

The Company was incorporated on 4th February 1987. at Ahmedabad in

Gujarat and was promoted jointly by Industrial Oxygen Co. Ltd. along with its

subsidiary, a part of the Siddho Mal Group and Gujarat Industrial Investment

Corporation, Ltd. (GIIC). The company has entered into technical

collaborations with various MNCs for technology transfer.

The main business of the company is to manufacture carbonate gases,

refrigerants chloromethanes, caustic soda, post treated polytetra fluoraethylene,

and by-products as anhydrous hydrochloric acid, liquid chlorine, and power.

The company has identified the entertainment industry as a key diversification

area, and is considering setting up a national chain of multiplexes.



share from `10 to `2 on 30th July 2005 and from `2 to `1 per share on

19th December 2007. It bought back 59,30,000 equity shares during 21st August

2008 to 24th March 2009 at an average share price of `103.48 per share

amounting to `61.36 crores and reduced the share capital to `10.99 crores after



4.3.9 Paints and Varnishes

4.3.9.1 ICI India Ltd (53)

The Company was incorporated as a public limited company in Kolkota West

Bengal on 19th August 1954 to manufacture explosives and accessories of all

kinds, blasting equipment, chemicals and fertilisers. The name of the Company

was changed from Indian Explosives Ltd., to IEL Ltd. Effective from 25th May

1989 the name was again changed to ICI India Ltd on 25th May 1989 and on

27th May 2010 the name of the company was changed to Akzo Nobel India Ltd.

It manufactures and markets paints, thinners, specialty chemicals and starch.

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3rd August 1966 and 3rd August 1978 in the ratio of 2:5 and 1:3 respectively. It

bought back 26,50,943 equity shares during 2nd August 2007 to 11th July 2008

at an average share price of `524.32 per share amounting to `131.8 crores and


share capital was Rs36.83 crores and reported net profit was `159.30 crores for


4.3.10 Pharmaceuticals

4.3.10.1 Sun Pharmaceuticals Ltd (28)

The Company was incorporated as a partnership firm by Dilip Sanghvi and his

family to manufacture pharmaceutical formulation at Vapi, Gujarat in 1983. It

was converted into a Public Ltd. company effective 1st March 1983.

The Company specialises in the manufacture of selected therapeutic segment to

psychiatry, cardiology, neurology and gastroenterology, gynaecology, fertility,

oncology, pain managers and duaesthelics. diabetology and opthalmology etc.



9th February 2000 and 21st April 2004 in the ratio of 2:1 and 1:1 respectively

and a split in face value of share from `10 to `5 on 28th October 2002 and `5 to

`1 on 24th September 2010.

It bought back 8,32,938 equity shares during 7th January 2003 to 6th October





4.3.10.2 DIL Ltd (42)

DIL was promoted by Solvay Pharmaceuticals based in Brussels and

Mr. D. Vasant Kumar and family in India. It was incorporated on 1st May 1951,

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in Thane, Maharashtra, as International Franchise Pvt. The Company became a

public limited company with effect from 9th April, 1963 and simultaneously its

name was changed to Crookes Interfran Ltd. The name of the Company was

changed to Duphar-Interfran Ltd in 1971 which was again changed to DIL on

18th February 2004.

The Company manufactures drugs and pharmaceuticals, chemicals, cosmetics

and toiletries. It started its activities with the manufacture of a brand of tooth

paste and antiseptic lotion and extended them to the manufacture of

pharmaceutical specialties.



11th September 1984 and 11th September 1988 in the ratio of 1:2 and 1:3

respectively. It issued rights shares in the ratio of 1:6 on 24th March 1995.

It bought back 2,31,605 equity shares 13th April 2005 during to 18th August


and reduced the share capital to `2.29 crores after buy-back. The paid up equity

share capital was `2.29 crores and reported net profit was `7.65 crores for the

year ending 2010.

4.3.10.3 Glaxo Smithkline Pharmaceuticals Ltd (44)

The Company was incorporated in India on 13th November 1924 under the

name of H.J. Foster & Co. Limited as an Agency House for distributing the

well-known Baby Food Glaxo of the then U.K. Company, Joseph Nathan &

Co. Two years later, the company became a wholly-owned subsidiary of

Joseph Nathan & Co. On 1st March 1950, the company changed its name to

Glaxo Laboratories (I) Ltd. During the year 1968 Glaxo group limited acquired

the whole capital of BDH Group Ltd. and with effect from 1st July 1968, it

became Public Limited Company and its name was changed to Glaxo

Laboratories (India) Ltd. In 1984-85, the company acquired the entire

shareholding of Glindia Investments Ltd., Sesame Investments Pvt. Ltd. and

Samgir Investments Pvt. Ltd., which thereby became subsidiaries of the

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company. The name of the company was changed to Glindia Limited with

effect from 11th March 1989 which was again changed to Glaxo India Limited

with effect from 17th July 1989. In October 2001, Smithkline Beecham

Pharmaceutical (India) Ltd was merged with Glaxo India Ltd to become

GlaxoSmithKline Pharmaceuticals Ltd.

The company specialises in the manufacture, distribution, sale and export of

medicinal, chemical, biological, immunological, veterinary and other

therapeutic preparations, food for infants and invalids, dietetic foods, cereals

and foodstuffs of all descriptions, all classes and kinds of chemicals, cosmetics

and diary, farm and garden produce. The drugs manufactured by the company

include anti infective, anti inflammatory, anti parasitic, cardiovascular,

dermatology, diabetes, endocrine, gastro intestinal, gynecology, immune

suppressants, nutritionals, respiratory, CNS oncology and vaccines.

The authorized share capital was `3 crores and the paid up share capital was `3

crores in the year 1967 which was gradually raised to `90 crores and `87.32 in

2004. The company declared bonus shares on 23rd June 1980 and

28th September 1995 in the ratio of 1:3 and 1:1 respectively. It issued rights

shares in the ratio of 1:5 at a premium of `55 per share of face value `10 on

30th September 1993. It bought back 26,19,529 equity shares during 9th May

2005 to 22nd December 2005 at an average share price of `795.90 per share




4.3.10.4 Natco Pharma Ltd (48)

The company was incorporated on 19th September, 1981 near Hyderabad in

Andhra Pradesh as a Private Ltd. Company as Natco Fine Pharmaceuticals

(Private) Ltd and became a deemed Public Company with effect from 1st July,

1992 under Section 43A of the Act. Subsequently, it changed its name to Natco

Pharma Ltd. on 18th February, 1993.

67

The Company began operations in 1984 with an objective to manufacture

conventional and timed release dosage forms of life savings drugs. It

manufactures a wide range of tablets, capsules, liquids and dry powders using

automated equipments. It also introduced Indigenisation of Microdialysis Cell

technology for various dosage forms as antihistaminic, antianxiety,

antiasthmatic, anti-migraine, oral contraceptive, oncological products-anti-

cancer wonder drug, and cardiac drugs into Indian market.



24th November 2008 to 5th August 2009 at an average share price of `140.36




4.3.10.5 FDC LTD (78)

The Company was promoted as a partnership firm by late Mr Anand

Chandavarakar in 1936 and later incorporated as Fairdeal Corporation Private

Limited Company on 23rd September 1940. Its name was changed to FDC Pvt.

Ltd on 24th June 1985 and was converted to public limited company in 1988.

The company manufactures various therapeutic medicines such as

anti-invectives, dermatologicals, respiratory, haematinics, ophthalmics

soya-based infant foods, surgical goods and ORS and ophthalmics.



24th February 2004 in the ratio of 1:1 and a split in face value of share from `10

to `1 per share on 2nd June 2001. It bought back 51,82,573 equity shares during

24th November 2008 to 3rd August 2009 at an average share price of `34.31 per




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4.3.11 Iron and Steel and Intermediate Products

4.3.11.1 Monnet Ispat Ltd (77)

Monnet Ispat Ltd. (MIL) was promoted jointly by Mr. Sandeep Jajodia and

Jindal Strips Limited and incorporated on 1st February 1990 in the State of

West Bengal and subsequently the registered office of the Company was

shifted from Calcutta in the State of West Bengal to Union Territory of Delhi

on 13th January 1993.

The main business of the company is to manufacture sponge iron, structural

sheets, billets and ingots, iron ore coal and ash/char at village Kurud, District

Raipur, Madhya Pradesh. Recently in 2006, after merger with Monnet Power,

it has diversified and started the production of power.


`0.04 crores in the year 1991 which was raised to `49.25 crores in the year

2007. It bought back 12,86,259 equity shares during 8th December 2008 to

22nd May 2009 at an average share price of `141.25 per share amounting to


However, during the year 2009-2010 the company converted 43,00,000

warrants into equity thereby raised the equity share capital to `52.26 crores.


`269.10 crores for the year end

4.3.12 Consumer Electronics

4.3.12.1 Blue Star Ltd (19)

The Company was incorporated on 20th January 1949, at Mumbai. In 1969 the

subsidiaries of the company were amalgamated with the holding company Blue

Star which was then converted into a public limited company with the present

name.

Its main business is concerned with manufacture and distribution of

commercial refrigeration equipment including water coolers, beverage coolers,

bulk ice markets, deep freezers, pre-fabricated walk-in-coolers, packaged

air-conditioners and components for large central refrigeration and

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air-conditioning plants. It also commissioned an ERP division. It is a

multinational company with joint ventures and collaborations with companies

from U.S.A, Malaysia, France, Italy, etc


`0.566 crores in the year 1969 which was gradually raised to ` 20.32 crores in

2001. The company declared bonus shares on 29th April 1975,

29th April 1979, 29th April 1983, 7th October 1987, 7th October 1991 and

8th September 1995 in the ratio of 3:10, 1:2, 3:5, 3:5, 1:1, and 1:1 respectively

and a split in face value of share from `10 to `2 on 12th May 2006. It issued

rights shares in the ratio of 2:5 at a premium of `25 per share on

30th September 1993. It bought back 23,35,606 equity shares during

15th February 2002 to 3rd February 2003 at an average share price of `65.40 per




4.3.13 Heavy Electricals and Electrical Utilities

4.3.13.1 Siemens Ltd (7)

The Company was incorporated on 2nd March 1957, as a private limited

company under the name Siemens Engineering and Manufacturing Company

of India Private Limited. This was changed to Siemens India Ltd in 1967. It

was again renamed as Siemens Ltd with effect from 31st March 1987.

The Company manufactures switchboards, switch gear, different types of

motors up to 315 KW, assembly of railway signaling equipment, X-ray and

other electromedical equipment, installation, testing and commissioning of

electrical plant and equipment undertaking repair work of motors, generators,

transformers, calorific and measuring instruments certain household appliances

and marine electrical equipment and selling of products manufactured by the

Company as well as those of its licensees.

The authorized share capital was `1 crore and the paid up share capital was


70

22nd August 1975, 22nd August 1977, 22nd August 1982, 22nd August 1987 and

22nd November 2007 in the ratio of 1:1, 1:2, 1:2, 1:4, and 1:1 respectively, and

a split in face value of share from `10 to `2 on 27th January 2006. It issued

rights shares in the ratio of 1:3 at a premium of `125 on 30th September 1993

and 1:4 at a premium of `190 on 3rd August 1999. It bought back 23,55,794

equity shares during 25th June 2001 to 13th June 2002 at an average share price

of `197.49 per share amounting to `46.52 crores and reduced the share capital

to `33.14 crores after buy-back. The paid up equity share capital was `67.43


4.3.13.2 ECE Industries Ltd (31)

The Company established in 1945 under the name Electric Construction &

Equipment Co Ltd at New Delhi had changed to its present name with effect

from 5th June, 1987 and is managed by the Birlas (BK) Group.

The main object of the company is manufacture of transformers, lifts and

switchgears and other components, meters, GLS, fluorescent and MV lamps.

The company also renders services like turnkey electrical installation railway

traction installations, passengers and goods lifts.



18th August 1981 and on 18th August 1987 in the ratio of 1:2 and 1:2

respectively. It issued rights shares in the ratio of 1:2 at a premium of `40 per

share on 21st March 1995 and in the ratio of 1:1 at a premium of `90 per share

again on 31st October 2008.

It bought back 13,44,957 equity shares during 24th February 2003 to 19th

November 2003 at an average share price of `20 per share amounting to `4.03

crores and reduced the share capital to `4.39 crores after buy-back. The paid up

equity share capital was `4.39 crores and reported net profit was `8.12 crores

for the year ending 2010.

71

4.3.13.3 Fine- Line Circuits Ltd (33)

The Company was promoted by Mr.B.T. Doshi and Mr.Abhay Doshi and

incorporated as a Public Limited Company on 9th October 1989 as Fine- Line

Circuits Ltd in Gujarat at Ahmedabad. The main business of the company is

manufacture of professional grade single and double sided printed circuit

boards.



2nd June 2003 to 15th May 2004 at an average share price of `5.66 per share



loss was `0.72 crores for the year ending 2010.

4.3.14 Engineering, Industrial Machinery and Aluminium

4.3.14.1 G G Dandekar Machines Works Ltd (17)

G G Dandekar Machine Works was promoted in the year 1912 by Shri.Gopal

Ganesh Dandekar for manufacturing Rice Mill Machinery in Bhiwandi about

30 kms from Mumbai and was incorporated as a public limited company in

1939 and is presently operating under Kirloskars Group. The operations of the

Company involve manufacturing, sales, installation, commissioning and after

sales service of machines used in processing rice and cereals as modern

precleaner and loose machine and rice mill machinery.


`0.4 crores in the year 1989. It bought back 22,617 equity shares during

28th January 2002 to 30th June 2002 at an average share price of `245.15 per




72

4.3.14.2 Hindalco Industries Ltd (18)

The Company was formed by the house of Birlas in collaboration with the

Kaiser Organisation of U.S.A. according to the Company's agreement with

Kaiser Aluminium and Chemical Corporation and was incorporated on

15th December 1958, at Mumbai.

Hindalco is one of the leading producers of aluminium and copper. Hindalco's

major products include standard and specialty grade aluminas and hydrates,

aluminium ingots, billets, wire rods, flat rolled products, extrusions and foil.

Birla Copper is a copper smelting unit and also produces precious metals,

fertilisers and sulphuric and phosphoric acid.


`0.15 crores in the year 1959, which was gradually raised as per the needs of

the company. The company declared bonus shares on 11th September 1982,

11th September 1988, 11th September 1990 and 10th May 1996 in the ratio of

1:3, 1:3, 3:5, and 1:2 respectively and declared a split in face value of share

from `10 to `1 per share on 12th July2005. It issued rights shares in the ratio of

1:4 and 3:7 on 20th September 2005 and 20th June 2008 respectively at a

premium of `95 per share. It bought back 7,58,530 equity shares during

8th February 2002 to 22nd July 2002 at an average share price of `734.79 per

share amounting to `557.360 crores and reduced the share capital to `73.70



4.3.14.3 Solitaire Machines Tools Ltd (26)

The company was incorporated on 24th May 1967 in Mumbai, Maharashtra, as

ACE Tools Pvt Limited and changed its name to Solitaire Machine Tools

Pvt. Ltd on 2nd May 1986. It converted into public ltd company on 2nd April

1992.

The main business of the company is to manufacture industrial holding tools

like collets, chucks etc. for drills, taps, reamers cutters etc.

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21st October 2002 to 2nd July 2003 at an average share price of `4.84 per share




4.3.14.4 Mazda Ltd (35)

Mazda Controls Limited was incorporated on 3rd September, 1990 at

Ahmedabad, Gujarat and was subsequently converted into a Public Limited

Company on 13th March, 1992.

The main business of the company is supplying equipments as complete

condensing packages comprising of surface condensers, C.E. pumps, gland

steel condensers, air evacuation systems, low pressure feed water heaters and

high pressure feed water heaters to various industries like power, fertilizers,

chemicals and bulk drugs industries, refineries, sugar and food industries, pulp

and paper and others. It has three divisions viz- Vacuum Systems Evaporators,

and Food. The food division manufactures instant flavoured, instant powder

and fruit jams.


`0.25 crores in the year 1992. The company announced a change in the face

value of shares from`10 to `2 per share on 20th June 2005 and again changed

from Rs2 per share to Rs10 on 30th August 2006. It bought back 4,16,800

equity shares during 23rd July 2003 to 11th August 2003 at an average share

price of `8.91 per share amounting to `3713688 and reduced the share capital



4.3.14.5 Avery India Ltd (39)

The Company was incorporated on 26th February, 1947 in Calcutta as a private

limited Company and promoted as a wholly owned subsidiary of Avery Ltd.,

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Soho Foundry, Birmingham, England. The Company was converted into a

public limited company on 1st March, 1968. The Company manufactures all

kinds of weights and measures of scales, balances, machines and appliances.


`1.15 crores in the year. The company declared bonus shares on 3rd September

1984 in the ratio of 2:5 and on 30th September 1992 in the ratio of 1:1. It

bought back 8,227 equity shares during 21st June 2004 to 31st December 2004

at an average share price of `35 per share amounting to `2,87,945 and reduced

the share capital to `9.83 crores after buy-back. The paid up equity share

capital was `9.83 crores and reported net profit was `0.62 crores for the year

ending 2010.

4.3.14.6 Revathi Equipments Ltd (49)

The company was promoted by RMT Drill Private, Ltd. and was incorporated

as Revathi CP Equipments Ltd in the year 1977 in Coimbatore, Tamil Nadu.

The company was renamed as Revathi Equipments on 20th January 2003. It

manufactures drilling equipments and accessories for Mining, Construction and

Water Well / Exploration Drilling applications and Concreting Equipment such

as Batching Plants, Transit Mixers, Concrete Pumps, etc., and also exports to

countries like USA, Jordan, Tunisia, Nigeria, South Africa, Australia etc.



30th December 1987 in the ratio of 1:1 and 15th October 1997 in the ratio of

1:1.It issued rights shares in the ratio of 1:3 in March 1986 at a premium of `10

per share. It bought back 1,42,857 equity shares during 22nd January 2007 to

28th June 2007 at an average share price of `673.04 per share amounting to


The paid up equity share capital was `3.07 and reported net profit was `9.86


75

4.3.15 Auto Parts

4.3.15.1 Exide Industries Ltd (14)

The Company was promoted by Raheja Group and incorporated on 4th January

1960, at Calcutta.

The Company manufactures lead and electric storage batteries, Exide motor

vehicle batteries, Dagenite batteries and other batteries for railway coaches

under the name Exide Ironclad and Shednought, heavy duty traction batteries,

special batteries, for aircraft duties and for radio and signal equipment; and also

stationary accumulators as required by power stations, telephone exchanges

and other electrical installations.

The authorized share capital was `1 crore and the paid up share capital was

`0.5 crores in the year 1959. The company declared bonus shares eight times

i.e. on 23rd June 1965, 23rd June 1968, 23rd June 1974, 23rd June 1977, 23rd June

1980, 23rd June 1983, 23rd June 1987,and 25th April 2003 in the ratio of 1:5,

1:5, 8:9, 3:8, 1:4, 3:5, 3:5, and 1:1 respectively. It issued rights shares thrice in

the ratio of 1:5, 1:4, and 1:15 on 26th March 1995, 17th February1998 and 28th

August 2007 respectively. It also declared a split in face value of share from

`10 to `1 on 16th June 2006. It bought back 3,90,932 equity shares during

4th January 2002 to 26th December 2002 at an average share price of `66.56 per

share amounting to `26 crores and reduced the share capital to `35.61 crores

after buy-back. The paid up equity share capital was `85 and reported net profit

was `537.09 crores for the year ending 2010.

4.3.15.2 ANG Auto Ltd (71)

The Company was originally incorporated in 1991 as a Private Limited

company under the name of ANG Exports Pvt. Limited and was converted into

a Public Limited Company on 2nd December 1994 in National Capital Territory

of Delhi and Haryana, New Delhi. It was again renamed as ANG Industries on

16th June 2010.

The Company is manufacturing and exporting auto components of Air Brake

Systems of Trucks and Trailers namely; Brake Rollers and Pins and also Hot

76

Forged Bolts to USA based Companies viz, SIRCO Industries Inc., Reynolds

Fasteners Inc., Omni Inc., which are amongst the leading distributors and

suppliers of auto components in CE segment and the replacement market.


`0.45 crores in the year. It bought back 7,50,000 equity shares during 28th July

2008 to 2nd January 2009 at an average share price of `52.23 per share


buy-back. The paid up equity share capital was `12.50 and reported net profit


4.3.16 Diamond cutting and Precious Metal Jewellery

4.3.16.1 Goldiam International Ltd (58)

The Company was incorporated on 10th October 1986 under the name of

Goldiam (International) Pvt. Ltd. and subsequently the name was changed to

Goldiam lnternational Pvt.Ltd. The company became a deemed Public Ltd. and

was later converted into a Public Limited Company on 20th September 1994

and changed its name to Goldiam International Ltd.

The company is engaged in the twin business of export of cut and polished

diamonds and the export of plain and studded gold jewellery. After setting up

the diamond cutting and polishing section the company set up the jewellery

manufacturing facility incorporating the latest state of the art technology.


`6.61 crores in the year 1994. The company declared bonus shares on 4th May

2002 and on 7th May 2005 in the ratio of 1:1 and raised the share capital to

`13.98 crores and `26.98 crores It bought back 14,86,804 equity shares during

7th May 2008 to 23rd October 2008 at an average share price of `39.88 per




77

4.3.17 Diversified

4.3.17.1 Kesoram Industries Ltd (13, 30)

The company was promoted by Birla group and incorporated at Calcutta in the

year 1919. The Company was incorporated on 18th October, 1919 under the

Indian Companies Act, 1913, in the name and style of Kesoram Cotton Mills

Ltd. It had a Textile Mill at Calcutta. The name of the Company was changed

to Kesoram Industries & Cotton Mills Ltd. on 30th August, 1961 and the same

was further changed to Kesoram Industries Limited on 9th July, 1986. The said

Textile Mill at Garden Reach Road was eventually demerged into a separate

company. At present the company is a well-diversified entity in the fields of

tyre, cement, rayon yarn, transparent paper, spun pipes and heavy chemicals

with two core business segments i.e. tyres and cement.



20th January 1966, 17th November 1975 and 17th November 1980 in the ratio of

1:4, 1:2 and 1:2 respectively. It issued rights shares in the ratio of 1:5 on

5th November 1993 and in the ratio of 1:3 at a premium of `50 per share on

11th August 1995. It bought back 64,36,214 equity shares during 9th October

2001 to 26th June 2002 at an average share price of `26.61 per share amounting

to `17.13 crores and reduced the share capital to `45.86 crores after buy-back.

It bought back again 5,71,093 equity shares at an average price of `18.5 per

share amounting to `18.50 crores during 27th January2003 to 1st September

2003, and reduced the equity share capital to `54.74 crores. The paid up equity

share capital was `45.74 and reported net profit was `237 crores for the year

ending 2010.

4.3.18 Cement, Cement Products and Iron

4.3.18.1 OCL India Ltd (12)

Orissa Cement Ltd was incorporated in Orissa in the year 1949 and was

renamed as OCL India Ltd on 15th January 1996. The Company's object is to

manufacture cement refractories reinforced cement, castables, precast blocks,

78

lance pipe, concrete pipes etc. The Company uses the trade name Konark for

cement and Dalmia for refractories. The Company's works are situated at

Rajgangpur, Orissa on the main line of south eastern railway. The Company

owns limestone quarries and fireclay and Kaolin mines in the areas adjoining

the factory. Quartzite, the raw material for silica refractories, is obtained from

the mines owned by Dalmia Cement (Bharat) Ltd.


`14 crores in the year 1996. The company declared a split in face value of

share from `10 to `2 per share on 18th May 2005. It issued rights shares in the

ratio1:3 on 8th July 1996 and 1:6 on 29th October 2005. It bought back 63,265

equity shares during 8th October 2001 to 15th January 2002 at an average share

price of `57 per share amounting to `3.61 crores and reduced the share capital



4.3.18.2 Madras Cements Ltd (55)

The Company was incorporated at Rajapalayam, in Tamilnadu in 1957 by

Ramco Group. The Company manufactures cement and allied products as

ready mix concrete and dry mortar products. Cement is marketed under brand

of RAMCO Portland Cement. In 1992, the Company set up a 4 MW wind mill

farm at Muppandal, Kanyakumari district, and Poolaradi in Tamil Nadu. Power

generated is supplied to Tamil Nadu Power Grid and the credit for the same is

allowed by Tamil Nadu Electricity Board against their bills for Company's

power consumption.



30th September 1992 in the ratio of 1:1; 5th October 1994 in the ratio of 1:1 and

on 30th June 2006 in the ratio of 1:1. It declared a split in face value of share

from `100 to `10 on 11th August 2003 and from `10 per share to `1 per share

on 30th June 2008. It bought back 1,79,481 equity shares during 18th February

2008 to 7th April 2008 at an average share price of `3592 per share amounting

79

to `64.4726 crores and reduced the share capital to `11.9 crores after buy-back.



4.3.18.3 Rain Commodities Ltd (66)

The company was incorporated on 15th March, 1974, under the name of

Tadpatri Cements,Ltd. The company was promoted by D.G.KMurthy, S.Veer

Reddy, N.Radhakrishna Reddy, P.Pratap Reddy, in association with Andhra

Pradesh Industrial Corporation. On 4th May 1984, the name of the company

was changed to Priyadarshini Cement Ltd and the company obtained mining

lease from the government of Andhra Pradesh initially for a period of 20 years

from October1984 for mining limestone over 430 acres in the village Revuru in

Nalgonda district of Andhra Pradesh. The company was renamed as Rain

Commodities on 29th December 2004.

The main business of the company is to manufacture Portland cement.

However, since 1984 it has undertaken mining limestone.



25th September 2008 to 3rd December 2008 at an average share price of

`149.66 per share amounting to `17.959 crores and reduced the share capital to

`70.83 crores after buy-back. The paid up equity share capital was `70.83

crores and reported net loss was `186.04 crores for the year ending 2010.

4.3.18.4 Mangalam Cement Ltd (76)

The company promoted by Kesoram Industries & Cotton Mills Ltd.was

incorporated on 27th October 1976 in Kota District of Rajasthan. The Century

Spinning & Mfg. Co. Ltd., The Gwalior Rayon Silk Mfg. (Wvg.) Co.Ltd., and

Pilani Investment Corporation Ltd., Rajasthan State Industrial & Mineral

Development Corporation Ltd. (RIMC) also participated in the promoters

capital. The Company manufactures Portland cement by dry process.

80


`5.8 crores in the year. It issued rights shares in the ratio of 3:5 on

30th September 1992, 1:1 on 3rd November 1997 and 1:1 on 19th May 1998. It

bought back 15,52,978 equity shares during 5th February 2009 to 30th July 2009



share capital was `26.69 and reported net profit was `118.81 crores for the year

ending 2010.

4.4 Electricity, Gas Stream and Air Conditioning Supply

4.4.1 Reliance Infra Ltd (56, 57)

The company was incorporated on 1st October 1929, at Mumbai as Bombay

Suburban Electric Supply Ltd to carry on generation and supply of electricity.

In 1992, the name of the Company was changed from Bombay Suburban

Electric Supply, Ltd. to its abbreviated version BSES Ltd which was again

changed to Reliance Energy Ltd on 27th February 2004 with the joining of Anil

Ambani as Chairman. The company was renamed as Reliance Infrastructure

Ltd on 14th May 2008.

The main business of the company up to 2007 was to manufacture and generate

power. However, it inked contracts with NHAI for the Road construction

projects to its activities. Its subsidiaries include Reliance Cementation Private

Limited, Reliance Cement and Infra Private Limited, Reliance Cement

Corporation Private Limited, Reliance Cement Works Private Limited,

Reliance Airport Developers Private Limited, Latur Airport Private Limited,

Baramati Airport Private Limited, Nanded Airport Private Limited, Yavatmal

Airport Private Limited, Osmanabad Airport Private Limited, PS Toll Road

Private Limited and KM Toll Road Private Limited.



29th April 1978, 29th April 1981 and 7th October in the ratio of 1:5, 1:3 and 1:1

respectively. It issued rights shares in the ratio of 1:2 on 30th September 1993.

81

It bought back 87,60,000 equity shares during 17th March 2008 to 4th February

2009 at an average share price of `908.14 per share amounting to `765.93

crores and 25,00,000 equity shares during 25th February 2009 to 9th April 2009


reduced the share capital to `227.77 crores and `225.27 crores after buy-back.



4.5 Construction and Real Estate Activities

4.5.1 DLF Ltd (72)

In 1979 DLF United Limited amalgamated with American Universal Electric

(India) Limited which was incorporated in 1963 and formed DLF Universal

Electric Limited which was renamed as DLF Universal Limited in 1981. It

obtained its first license from the State Government of Haryana and

commenced the development of DLF City in Gurgoan Haryana. DLF Universal

Limited again changed its name to DLF Limited in 2006.

The main business of the company is construction in real estate and developing

buildings, corporate parks, hotels and service apartments developing roads,

highways and bridges across the country.

The paid up share capital was `340.96 crores in the year 2007. It bought back

76,38,567 equity shares during 17th October 2008 to 4th May 2009 at an

average share price of `184.19 per share amounting to `140.65 crores and


share capital was `339.48 and reported net profit was `765.06 crores for the

year ending 2010.

4.6 Transportation and Storage

4.6.1 Shipping

4.6.1.1 Great Eastern Shipping Ltd (2, 9)

The company has been promoted by A H Bhiwandiwalla & Co. (Mumbai) Pvt.

Ltd and incorporated at Mumbai in 1948.

82

The main activities of the company to own, purchase, charter ships, boats and

sea going vessels. The Company operates regular cargo services on the Indian

coast and in adjacent waters and carries mineral oil products on the Indian

coast under charter. It also carries on overseas liner service between west coast

of Canada, U.S.A. and India. The Company also acts as agents for foreign

shipping companies amongst whom the important ones are Yasmashita-

Shinnihom Steamship Co., Ltd., Tokyo and Stanhope Steamship Co. Ltd.,

London.


`37.55 crores in the year 1985. The company declared bonus shares on in the

ratio of 2:3 on 29th September 1982 and 1:5 on 29th September 1992. It issued

rights shares in the ratio 1:1 of on 30th September 1992 and on 19th January

1994 in the ratio of 2:5. It bought back 4,29,40,921 equity shares at an average

share price of `34.91 per share amounting to `149.999 crores during

26th December 2000 to 25th September 2000 and 2,55,73,270 equity shares at

an average share price of `28.27 per share amounting to `72.35crores during

23rd August 2001 to 26th July 2002 and reduced the share capital to `215.9 and

`190.33 crores after buy-back respectively. The paid up equity share capital

was `152.29 crores and reported net profit was `395.75 crores for the year

ending 2010.

4.6.1.2 Great Offshore Ltd (59)

Great Offshore Ltd. started its business from the year 1983 as a part of Great

Eastern Company Ltd and promoted by Mr Vijay K Seth. In 1985 it formed a

joint venture Great Atwood Ltd with Atwood Oceanics Inc, USA and A H

Bhiwandiwalla & Company to commence drilling and exploration activities.

Great Offshore Limited was incorporated on 14th July 2005 and the offshore

services business of The Great Eastern Shipping Co. Ltd. was demerged and

vested in the Company with effect from April 1, 2005 pursuant to a Scheme of

Arrangement sanctioned by the Mumbai High Court. The Company specializes

in providing offshore support solutions to the Exploration & Production

83

Industry. In this segment the Company operates Drilling Rigs, Offshore

Support Vessels and undertakes Marine Construction Projects and services.



7th May 2008 to 30th March 2009 at an average share price of `564.26 per share




4.6.2 Transportation and Logistics

4.6.2.1 Gateway Distiparks Ltd (63)

The Company was originally promoted by NTSC, CWT Distribution Limited

(CWT), NUR Investment and Trading Pvt. Ltd (NUR) and Intercontinental

Forest Products Pte. Ltd. (IFP) as a joint venture company to conduct the

business of warehousing, container freight stations and all related activities. On

13th March 13, 1995, IFP resigned as a joint venture partner and was replaced

by Parameswara Holdings Ltd. and on 1st April 1996 CWT and NUR also

resigned as joint venture partners and they were replaced by Windmill

International Pte Ltd. and Thakral Corporation Ltd.

Gateway Distriparks Ltd. is a world-class state-of-the-art logistics facilitator in

one of the world’s fastest growing markets-India with modern Container

Freight Station’s (CFS’s) at Dronagiri (about 9 kms from the Jawaharlal Nehru

Port), Navi Mumbai and New Manali, Chennai besides an Inland Container

Depot (ICD) at Garhi Harsaru(near Delhi), Haryana and a newly commissioned

CFS at Vishakapatnam (a Joint Venture with Suri group) and provides logistics

solutions that fulfill the needs of the international trading community as well as

the shipping industry.


`64 crores in the year 2002. The company declared bonus shares on 30th April

2007 in the ratio of 1:4 and raised the equity share capital to `115.596 crores. It

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bought back 78,83,412 equity shares during 11th August 2008 to 24th January



equity share capital was `107.90 and reported net profit was `77.21 crores for


4.7 Information and Communication

4.7.1 Computer Software Production

4.7.1.1 Ace Software Exports Ltd (32, 51)

Ace Exports Ltd, originally a partnership firm was promoted by Mr. Sanjay

Dhamsania, Mr. Vikram Sanghani and Mr. Jay Sanghani and incorporated on

17th August 1994 as a public limited company at Rajkot in Gujarat State with

an authorized share capital of 6 crores equity shares and paid up capital of `5

crores equity shares at `10 per share.

The main business of the Company include carrying on the business of

Exporters, Importers Lenders and Hirers, Traders, Dealers, Buyers, Sellers,

Commission Agents, Contractors, SubContractors, Repairers of Computer

Software and Hardware, Data Processing, Computer Aided Designs [CAD],

Computer Aided Manufacturing [CAM], conversion of all types of

Engineering/Drawings to Electronic Media and other allied peripherals and

media products of all types and telecommunication establishing and running

data processing/computer centers, offering consultancy and data processing

services, importing training on electronic data processing computer software

and hardware, to customers and others and conducting seminars, conferences

for all matters relating to computer hardware, software and other related

matters.

Financially, the company raised its capital from 50,00,000 equity shares to

57,00,000 equity shares during April 2003 to June 2003 by conversion of

warrants and later bought back 5,78,274 equity at an average price of `9.47 per

share during 13th October 2003 to 24th August 2004 and reduced its capital to

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`5.12 crores and undertook a second buy-back of its shares during 14th May

2007 to 28th September 2007 and bought back 4,41,726 equity shares at an

average price of `16.91 per share and reduced the equity share capital to `4.68

crores. During 2008 there was an increase in reported net profit up to `.2.67

crores which declined to `.0.49 crores in 2009 and the company ended the year

at a loss of `0.20 crores in the year 2010.

4.7.1.2 Mastek Ltd (38, 60)

The Company was originally promoted by Ashok Desai, Ketan Mehta and R.

Sundar and incorporated on 14th May 1982 under the name Management and

Software Technology, Pvt. Ltd. The name of the Company was changed to

Mastek, with effect from16th August, 1992

The main objects and activities of the Company is manufacturing and setting of

and dealing in computer software packages. It offers customer specific IT

solutions to various industries as stock brokers, share trading and accounting

software, ERP software, etc. Mastek has wholly-owned subsidiaries in five

countries: Majesco Software Inc, USA, Mastek UK Ltd, Mastek Germany

GmbH, Mastek Software Sdn. Bhd, Malaysia and Mastek Asia Pacific Pvt. Ltd

in Singapore.


`0.93 crores in the year 1999. The company declared bonus shares on 29th July

1999 and on 12th January 2006 in the ratio of 1:1 and raised the share capital to

` 6.93 crores and `14.07 crores respectively. It declared a split in face value of

share from `10 to `5 on 17th August 2005.

It bought back 3,99,848 equity shares during 27th May 2004 to16th May 2005


reduced the share capital to `6.93 and again bought back 16,60,095 equity

shares during 20th May 2008 to 24th July 2008 at an average price of `391.55

per share amounting to `64 crores and reduced the share capital to `13.44

crores after buy-back. The reported net profit was `37.00 crores for the year

ending 2010.

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4.7.1.3 Patni Computers Ltd (62)

Patni Computer Systems Limited was incorporated in Pune, Maharashtra as

Patni Computer Systems Private Limited on 10th February 1978, became a

deemed public company under Section 43A and subsequently on 15th April

1991 it was converted into a private limited company. The company was

finally converted into Public Limited Company on September 18, 2003.

The original activities of the Company were computer time rental, the resale of

imported computer hardware, and software exports. It undertakes the sale and

marketing of computer equipment and hardware maintenance.


`14.86 crores in the year 2002. In 2004 it issued Initial Public Offering (IPO)

of 18,724,000 equity shares in the price of ` 230 per share for a face value of

`2 each. It bought back 1,09,57,082 equity shares during 10th July 2008 to

28th October 2008 at an average share price of `216.30 per share amounting to


The reported net profit was `542.73 crores for the year ending 2010.

4.7.2 IT Consulting and Software

4.7.2.1 Sasken Communications and Technologies Ltd (65)

Sasken Communications and Technologies was incorporated in Gujarat on

13th February 1989 as ASIC Technologies Private Limited which was changed

to Silicon Automation Systems (India) Private Limited on 13th October

1992.On 20th April 1993 the registered office was shifted to the State of

Karnataka and the company was again renamed as Sasken Communications

Technologies Ltd on 30th December 1998.

The main business of the company is to produce wireless software products and

software services, and it works with Network OEMs, Semiconductor Vendors,

Terminal Device OEMs and Operators across the world.


`12.47 crores in the year 1998 which was gradually raised to `50 crores and

87

`28.56 crores by the end of 2006. It bought back 1,44,972 equity shares during

15th September 2008 to 27th October 2008 at an average share price of `106.80


crores after buy-back. The reported net profit was `76.03 crores for the year

ending 2010.

4.7.2.2 GSS America Infotech Ltd (73)

GSS America Infotech Limited was promoted by Mr.Bhargav Marepally and

Mr. Ramesh Yerramsetti and was incorporated as Mayes Technologies Private

Limited on 13th October 2003 with its registered office at Hyderabad, Andhra

Pradesh. On acquisition of majority stake in the US based software company,

on 15th June 2006 the name of the company was changed to GSS America

Infotech Private Limited to sync in line with the ‘Brand’ in the US Market.

Subsequently, the Company was converted into public limited company on

7th July 2006.

In October, 2003 it started with outsourcing contracts for Business

development Services and Back Office work from US based clients and has

evolved into an IT outsourcing service provider with a number of services that

meet most of its client’s outsourcing needs. GSS America is now a global

provider of customized solutions and software services to clients in USA.


`0.1 crores in the year 2004. The company declared bonus shares in the ratio of

4:10 in 2006. It bought back 5,63,157 equity shares during 25th February 2009

to 5th August 2009 at an average share price of `152.27 per share amounting to


However, the company raised `13989.98 lakhs during the financial year

2007-2008 i.e. before buy-back and `4564.84 lakhs during the quarter ending

30th June 2010 through qualified institutional placement by issuing 14,00,000

lakh shares at `326.06 per share. The reported net profit was `13.80 crores for


88

4.7.3 Computer Hardware

4.7.3.1 MRO- Tek Ltd (52)

The Company was promoted by Mr. Sarangan Narayanan and Mr. Himadri

Nandi, as MRO-TEK Private Limited' on 10th February 1984 in Bangalore and

became a Public Limited Company on 17th June 1998 as 'MRO-TEK Limited'.

The main business of the company is to manufacture, assemble, fabricate,

produce, repair, use, buy-sell, hire, import, export, install, consult, deal in all

types of instruments such as electronic Electrical, Medical Laboratory etc. It

manufactures analog/digital modems, convertors and multiplexer.



4th June2007 to19th October 2007 at an average share price of `46.99 per share


buy-back. The reported net loss was `1.82 crores for the year ending 2010.

4.7.4 Telecom Cables and Equipments

4.7.4.1 Surana Telecom and Power Ltd (67)

The Company was promoted by Surana Group and incorporated as a Private

Limited Company on 14th August 1989 as Surana Petro Products Pvt. Ltd in

Hyderabad and was converted into a Public Limited Company on 9th July 1993.

By 1994, Telecom business became the primary business activity of the

Company and in order to reflect the same, the name of the Company was

changed to Surana Telecom Ltd. on 5thAugust1994.

It is engaged in the business of manufacturing of Petro Products such as

Petroleum Jelly and Telecom products such as heat shrinkable jointing kits,

cable splicing/filling compounds, aluminium rods wire connectors, end caps,

modular connectors and HDPE pipes and optical fibre cables assembly of

CDMA mobile handsets fixed wireless telephones power cables, wind power

etc.

The authorized share capital of the company in 1994 was `5 crores and paid up

capital was ` 4.36 crores. It declared bonus shares on 9th March 2001 in the

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ratio of 3:2. It bought back 18,00,000 equity shares during 30th April 2008 to

21st January 2009 at an average price of `24.69 per share and reduced its

capital to `10.4 crores. The paid up capital of the company was `10.4 crores

and the reported net profit was `1.15 crores for the year ending 2010.

4.7.4.2 Valiant Communications Ltd (80)

The company was incorporated as a Private Limited company on

28th December1993, at Delhi and was converted into a public limited company

on 17th August 1994.

The main products manufactured by the company includes telecom equipments

as WiMAX and Broadband solutions, Ethernet-based products, internet

protocol, voice quality enhancement solutions for wireless, wire line and long

distance telephony applications, cellular / mobile network application solutions,

ISPs applications, corporate and enterprises network applications, new

Ethernet-based and IP (Internet protocol) based products and solutions.

Initially the paid up share capital of the company in the year 1993 was

`0.24 crores which was gradually raised to ` 8.65 crores in 2008. However, it

bought back 11,25,000 equity shares during 7th October 2008 to 21st May 2009

at an average price of `23.62 and reduced its share capital to `7.52 crores. The

reported net profit of the company was `1.09 crores for the year ending 2010.

4.7.4.3 Avantel Ltd (81)

The company was incorporated as Avantel Softech Ltd in Hyderabad in 1996

with an authorized share capital of `4 crores and a paid up share capital of

`̀̀̀3.1crores. The name of the company was changed to Avantel Ltd on

15th December 2008. The company manufactures various telecom products.

The share capital was `5.15 crores in 2000 which was raised to `5.65 crores in

2002. But on 3rd April 2003 it reduced its share capital under ESOP plan to

`5.15crores and it bought back 4,46,243 equity shares at an average price of

`49.05 amounting to `218.897 lakhs and reduced the equity share capital to

90

`4.71 crores during 27th May 2009 to 4th August 2009. The reported net profit


4.8 Information and Communication and Broadcasting and Cable

T V

4.8.1 T V Today Network Ltd (79)

TV TODAY Network was promoted by India Today Group in the year 2002 at

Videocon Tower Jhandewalan Extention New Delhi. The main business of the

company is entertainment / multimedia broadcasting and communication and

Aaj Tak and Headlines are the main broadcasting channels.


`24 crores in the year 2002. It bought back 2,44,884 equity shares during

16th March 2009 to 23rd July 2009 at an average share price of `80.52 per share

amounting to `197.26 lakhs and reduced the share capital to `28.882 crores

after buy-back. The reported net profit was `30.86 crores for the year ending

2010.

4.9 Financial and Insurance Activities

4.9.1 Indiabulls Financial Services Ltd (45)

Indiabulls Financial Services Limited was incorporated on 10th January 2000 as

M/s Orbis Infotech Private Limited at New Delhi. The name of Company was

changed to M/s. Indiabulls Financial Services Private Limited on 16th March

2001 due to change in the main business of the Company from Infotech

business to Investment and Financial Services business. On 27th February 2004

the name of Company was again changed to M/s. Indiabulls Financial Services

Limited.

Indiabulls Financial Services is one of India’s leading non-banking financial

companies (NBFCs). Indiabulls Financial Services is a leading provider of

lending and other financial products including home loans, commercial vehicle

loans and secured loans to SME’s through its 140 locations across India.



91

9th December 2000 to 17th February 2006 at an average share price of `208 per

share and reduced the share capital to `32.05 crores after buy-back. The paid

up share capital was `61.98 crores and reported net profit was `264.16 crores

for the year ending 2010.

4.9.2 Prime Securities Ltd (46)

The Company was promoted by Vasant Sheth Group and incorporated in the

name of Suvibha Investment Company Private Limited on 20th March 1982 in

Mumbai. The name was subsequently changed to Prime Securities Limited on

29th November, 1990. Thereafter the Company became a Public Company by

passing a Special Resolution on 16th March 1992 and obtained a fresh

Certificate of Incorporation dated 25th February 1993. The Company is

involved in the business of trading in equity, merchant banking advisory

services, foreign exchange advisory services, equity research etc.

Prime Securities started with an initial capital of `11.02 crores in 1992 which

subsequently increased to `18.92crores in 1993, `21.95 crores in 1995, and

`24.15 crores in 2000. The company declared a split in face value of share

from `10 to `5 in 2004. It bought back 3,44,900 equity shares during

27th January 2006 to 2nd March 2007 at an average share price of `63.52 per



2010.

4.9.3 L K P Finance Ltd (75)

The Company was originally incorporated as Elkaypee Merchant Financing

Pvt. Ltd. on 5th May 1984 and the certificate of change of name to LKP

Merchant Financing Ltd was obtained on 13th February 1986. The Company

changed its name from LKP Merchant Financing Ltd to LKP Finance Ltd in

2008.

The Company is in the field of financial Services such as hire purchase and

leasing of plant and capital equipment, machinery vehicles, etc; managing

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public and rights issues, underwriting of issues, discounting of bills of

exchange, Loan Syndication, project appraisal, portfolio management money

market operations, placement of securities and other financial consultancy and

advisory services.


Rs12.8 crores in the year 2008. It bought back 44,377 equity shares during

24th February2009 to 17th July 2009 at an average share price of `77.65 per



2010.

Documents

CHAPTER-4 PROFILE OF SELECTED COMPANIES IN INDIAshodhganga.inflibnet.ac.in/bitstream/10603/3493/11/11_chapter 4.pdf · 4.3.1.1 Britannia Industries Ltd (11, 24, 40) The Company was