Company History: YEAR EVENTS1942 - The Company was incorporated at Baroda. The main objective of the company is to manufacture single and fold cotton and staple fibre yarn cotton healds wire healds pitchbound reeds metal reeds jute cambs jute reeds photographic papers box camera etc. The Company uses the trade name `India' `Swar Brand' and `Agfa'.1952 - Issued 2 500 bonus equity shares in the proportion 1:4.
1954 - Issued 2 500 bonus equity shares in the proportion 1:5.
1955 - Pref. shares extinguished. 3 750 No. of equity shares issued to Pref. shareholders. In 1956 4 500 Bonus shares issued. Also 3 750 shares issued (Prem. Rs. 100 each).
1958 - Issued 600 No. of equity shares at a premium of Rs. 100 each to Agfa A.G. Leverkusen.
1961 - 15 000 right pref. shares issued at par. 8 750 No. of equity shares issued (prem. Rs. 100 each) to Afga AG. Leverkusen.
1968 - Bonus Equity shares issued as under: 3 635 in 1962 (1:10); 3 998 in 1963 (1;10); 10 995 in 1964 (1:4); 18 326 in 1966 (1:3); and 24 434 in 1968 (1:3).
1972 - 39 095 bonus equity shares issued in the proportion 2:5.
1980 - 27 366 bonus shares issued in prop. 1:5.
1982 - New imported machinery from Takayama Reed Co. Ltd. Japan was installed for manufacture of all metal reeds.
1984 - Profits were also lower due to increased labour cost and other overheads and changed pattern of market demand. The Company introduced the Agfa 200-35 mm camera in the home market.
- Exports during the year declined further to Rs. 0.69 crores due to reduced offtake of black and white photo paper and camera.
1985 - The Company's land and buildings except land at Ankleshwar and housing colony at Mulund were revalued as on 1st January. The resultant surplus was credited to revaluation reserve.
1986 - The profitability however was adversely affected due to underutilization of the production facilities of textile accessories and the spinning division owing to problem which persisted in the textile industry. Increase in the costs of power labour and other inputs also had an adverse impact on the profitability.
- The Company developed successfully photo type setting oscilloscript and PE based bromide paper. The Company's new camera model `snapper' was well received in the market.
1987 - The introduction of Photo type setting papers and other speciality niche products helped the photo division to show better performance. The competitive domestic market in cameras became a hurdle for further improvement in the performance of camera division.
1988 - An agreement was entered into with M/s. Gokak Patel Volkart Ltd. to sell/lease the assets of the spinning unit subject to the approval of various Government authorities.
- The Company decided to enter into the field of manufacture of Liquid Photographic Chemicals. The proposed project was to be located in an industrially backward area in Maharashtra or Gujarat State.
1989 - The sales of textile accessories unit were maintained but profits declined due to increase in cost of inputs.
- Turnover of cameras of this division was adversely affected due to fierce competition in the local as well as export markets.
1990 - The Company had installed a yarn doubling/winding plant for producing cable yarn for cotton healds.
1991 - Sales of black and white papers and converted jumbo rolls of colour paper declined.
- Two new types of photographic paper developed internally viz. variable contrast paper and IR laster typesetting paper were introduced in the market.
- Negotiations were completed with Agfa-Gevaert AG. West Germany for the manufacture of a new type of camera "Agfamatic 508" Type 2316 in substitution for the present pocket camera Type 2304 for the international market.
- The Company undertook a capital expenditure programme to modernise the coating technology of the photopaper plant.
