Company History: YEAR EVENTS1990 - The Company was incorporated as a Private Limited Company on July 31st 1990 and was converted into a Public Limited Company on 15/06/92. The company has been promoted by Mr. Y. Mohamed Kunhi Mr. Y. Abdulla Kunhi Mr. B. Abdul Salam and Mr. A.R. Shetty. The Company manufacture granite tile slab and other related products. - The Company undertook to set up a plant for manufacture of granite tile slab in its first phase.
1995 - The operations of both tile and slab divisions were adversely affected due to the inadequate and irregular supply of raw materials severe cash constraints etc.
- 2000 No. of Equity shares of Rs 10 each subscribed for by signatories to the Memorandum of Association. 20 95 500 shares allotted to promoters directors etc. 12 02 500 shares allotted to NRIs on repatriation basis. 89 80 000 No. of Equity shares of Rs 10 each were issued in February 1993 as follows: On Firm Allotment Basis: (i) 5 00 000 shares to promoters Indian resident directors (ii) 2 00 000 shares to NRIs on repatriation basis:
- Of the remaining following were reserved for allotment on a preferential basis: (i) 9 800 shares to employees (ii) 8 00 000 shares to Mutual Funds (only 4 00 000 shares were taken up) (ii) 20 00 000 shares to NRIs on repatriation basis (all were taken up). Balance 54 70 200 shares along with 4 lakh shares not taken up by Mutual Funds were issued to the 20 00 000 shares to NRIs on repatriation basis (all were taken up). Balance 54 70 200 shares along with 4 lakh shares not taken up by Mutual Funds were issued to the public.
1997 - The Company signed a MOU with Coastal Lumber Pvt. Ltd. Singapore for sales of 25 000 Sq. Mtrs. of granite tile p.a. Also entered into another agreement with G & M international S.A. Belgium for export of its entire products.
