YEAR EVENTS 1946 - The Company was incorporated on 11th April, as a Private Limited Company and was converted into a Public Limited Company on 16th September 1975. It was mainly a trading company and imported various consumer items. - The main objective of the company is to manufacture PVC films and sheets (SUNFLEX), leather cloth (SUNTEX), rigid PVC sheets (SUNVIC), decorative surfacing (SUNGLOSS), phenolic laminates (SUNLAM), high impact polystyrene sheets (SUNSTRENE) and art paper, chromo paper and art card (LUSTRACOTE). 1955 - The company decided to enter into the manufacturing field and obtained a license for the manufacture of flexible and rigid polyvinyl chloride films and sheets. 1961 - A new factory was started at Kurla, Mumbai for the manufacture of decorative and industrial laminates. 1962 - A new plant for the manufacture of extruded acrylic and high impact polystyrene sheet for the refrigeration industry. 1965 - The Company also started manufacturing leather cloth by lamination of PVC film or sheet to various fabrics. - The Company started a partnership firm called Sun Coated Paper Co., for the manufacture of a range of papers such as art paper, Chromo Paper, art card, black centered art card, etc. The Plant was orginally located at MIDC Estate, Thane. 1967 - 2,500 shares issued without payment in cash. Bonus shares were issued as follows: 4,500 shares in May 1962 (prop. 9:1) and 15,750 shares in March 1966 (Prop. 1:1). 1968 - 15,750 bonus shares issued in prop. 1:2. 1969 - In order to expand the capacity, a new unit was set up in the MIDC estate at Thane which went into production. - From 1st April, Sun Coated paper Co. became a division of the company consequent upon the dissolution of the partnership. With the increase in demand in the Industrial Estate Satpur, Nasik and the existing plant was shifted to Nasik. 1971 - A new factory was set up in Kolshet-Thane and the old plant at Kurla was also shifted to Kolshet. - 80,325 bonus shares issued in prop. 17:10. 1974 - The company undertook to set up a paper mill in the MIDC Industrial Area at Roha, Maharashtra. 1975 - Shares subdivided during 1973-74. 5,42,193 bonus shares issued in prop. 17:40. 1978 - The company obtained an industrial licence for the manufacture of 1,050 tonnes of plastic hollow corrugated boards. This project was being set up in the MIDC Industrial Estate at Satpur, Nasik. - During November, the existing shareholders of the company were offered 10,90,800 No. of equity shares of Rs. 10 each of the company at par. 1981 - Letter of intent was received to increase the production capacity of PVC sheets to 9,000 tonnes per annum. Due to circumstances beyond its control, the company could not take steps to implement this scheme and the letter of intent was surrendered to Government in 1984. - As a measure of diversification, the company installed at Nasik, a plant for manufacture of foam leather cloth by release paper process. - The company converted its fixed assets consisting of land at Roha and Sewri into Stock-in-Trade of real estate business. 1982 - It was proposed to carry out the paper manufacturing activity as a separate entity and transfer the same to a wholly-owned subsidiary. 1985 - Subsequently, the company again revalued its land and buildings at factory premises and certain plant and machinery as on 30th June. 1989 - The performance on the domestic as well as exports front improved and turnover and sales stood higher. - The Company issued 2,00,000-14% secured non-convertible debentures of Rs. 100 each on private placement basis with financial institutions. These debentures are redeemable at 5% premium in three annual instalments commencing from 25th March, 1996. 1992 - The company installed two additional calendaring units with a combined capacity of 8,400 tonnes for manufacturing PVC films and sheetings. - The company issued 9,53,612-18% secured partly convertible debentures of Rs. 240 each for cash at par (alongwith detachable equity warrants entitling the holder to be allotted one equity share of Rs. 10 each at a premium of Rs. 80 per equity share. 8,91,010 warrants were taken up). Out of which 9,08,972 debentures were offered on right basis to the shareholders in the proportion of One debenture: Two equity shares (all were taken up). Remaining 44,640 debentures were offered to the employees (only 2,275 debentures were taken up). - Each debentures of Rs. 240 was divided into Part-A (Convertible) of Rs. 70 and Part-B (Non-convertible) of Rs. 170. Rs. 70 of Part-A of each debenture was to be converted into one equity shares of Rs. 10 each at a premium of Rs. 60 per share on the date of allotment of debentures. Accordingly 9,11,247 shares were allotted and 8,91,010 shares were allotted against warrants. Part-B of Rs. 170 will be redeemed in three equal annual instalments at the end of 6th, 7th 8th year from the date of allotment of debentures. - During the year, the company has undertaken Internal Energy Audit system. - During the last year, the Company has developed Anti-radar Camouflage Net for the Ministry of Defence and the same has been approved by the Defence Research Laboratory. 1993 - The company entered into the field on Real Estate. The company developed a property for the construction of multi storeyed residential-cum-commercial complex at Mumbai. - During the year, the Company made a Right Issue of 18% Secured Partly Convertible Debentures (PCDs) in the ratio of One PCD for every two shares held. - The Camouflage Net has been successfully launched and repeat orders have been received from the Government. A special type of PVC film is being developed for rescue boats which can respond to radar signals. 1994 - The company proposed to set up PVC foam leather cloth plant at Nasik, for which the company entered into a technical collaboration agreement with China General Plastic Corporation, Taiwan. The company also proposed to manufacture international quality polypropylene sheets for stationary applications for which the company entered into a technical collaboration agreement with Danny Hudson, Taiwan. - The company privately placed 6,40,000 No. of equity shares with financial institutions at a premium of Rs. 250 per share in November. The company also issued 5,63,000 warrants to promoters and their associates. - The warrant holders are entitled to subscribe to one equity share per warrant at a price of Rs. 210 per share before 1st May. Accordingly 3,36,690 shares were issued. - During the year, the company introduced Voluntary Retirement Scheme for its employees at is Laminates Unit to reduce the surplus employee strength in the Unit and paid compensation aggregating to Rs.117 lacs. 1995 - However margins were under pressure due to increase in input cost without corresponding increase in the prices of finished goods on account of severe competition. - 3,36,690 shares allotted on conversion of Warrants at a price of Rs. 210 per share. 1996 - The profitability was adversely affected due to weak prices for PVC films, low productivity and capacity utilisation and availability of superior products. - The Company re-appraised the plan to set up PVC foam leather plant and decided not to proceed with the same. - The Company has entered into a technical and financial collaboration agreement with VKW a wholly owned subsidiary of EVC international NV on 7th June, 1997. - 18,36,756 bonus shares allotted in prop. 2:5. 1997 - 66,98,325 No. of equity shares of Rs 10 each at a prem. of Rs 47 per share allotted on preferential basis. - The Company has entered into a technical and financial collaboration with Vereinigte Kunststoffwerke GmbH (VKW), the details of which are given under Item No. 4. - The Board has selected VKW a wholly owned subsidiary of EVC International NV for a technical and financial collaboration and has entered into an agreement dated June 7, 1997 with VKW. 1998 - During the year, the Company installed a Calendering Unit at Nasik with an installed capacity of 7200 MT. - The Company introduced a Voluntary Retirement Scheme for its employees at Head Office and Branches. The Company also successfully offered the Voluntary Retirement Scheme for its employees at Thane Factory after the close of the year. - The Company has also restructured its organisation to provide considerable emphasis on Quality and Customer service, leading to better customer satisfaction. - The Company has computerised several areas of operations, leading to speed, accuracy and customer satisfaction. - The Company continued to be affected by low capacity utilisation due to competition in the market and general slow down in the economy. Further, the Company's exports were adversely affected due to the Russian and Asian economic crisis. - Mr. C. P. Gaspar was appointed as a Director of the Company by the Board of Directors. Mr. M. Uberti and Mrs. A. Van der Zwalmen were appointed as Additional Directors of the Company on 26th February 1999. 1999 - The Company's profitability was adversely affected due to an unprecedented increase in the price of PVC resin and other polymers in both the domestic and international markets. - During the year, the Company has entered into 3 years wage settlements with its employees at Thane and Nasik factories. - During the year your Company was presented the GOLDEN STATUS CERTIFICATE from the Ministry of Commerce, India, for its continuous performance for last three terms as Export House (i.e. Nine years) and the Best Export Performance Award for the year 1997-98 and 1998-99 (1st position) for Rigid PVC films from the Plastics Export Promotion Council (PLEX CONCIL). 2000 -Crisil has revised the rating for company's 18% NCD of Rs 1,549.10 lakhs to BBB from BBB . 2001 -K.C. Holdings Pvt. Ltd. has bought 2,94,893 No. of equity shares of the company from Mr. Mofatraj P. Munot. Mr. Parag Munot has bought 2,94,893 No. of equity shares of the company from Mr. Mofatraj P. Munot. 2002 -Caprihans India Ltd has informed that Mr. P.M. Nadig, the Managing Director of the Company has resigned from the services of the company with effect from November 26, 2002. 2006 -Caprihans India has recommended for payment of Dividend @ 10% 2007 -Caprihans India has recommended for payment of Dividend @ 10% 2008 -Caprihans India has recommended for payment of dividend @ 10% 2009 -Caprihans India has recommended for payment of dividend @ 15% 2010 -Caprihans India has recommended for payment of dividend @ 25% 2012 -Mr. Krishnava S. Dutt has been appointed as an Independent Director of the Company 2013 -Mr. Robin Banerjee has taken charge as Managing Director of the Company effective April 29, 2013. -Caprihans India Ltd hasrecommended for payment of dividend @ 15 % on the equity Share Capital 2014 -Caprihans India Ltd has recommended for payment of dividend @ 15% on the Equity Share Capital