YEAR EVENTS 1950 - The Company was incorporated as a public limited company on 31st July, in the name of Grindwell Abrasives, Ltd. The Company manufacture abrasive products. 1967 - To keep abreast with the latest technology, the Company entered into a technical collaboration with Norton Co. of USA. 1971 - The name of the Company was changed to Grindwell Norton Ltd., with effect from 23rd June, consequent upon Norton Co., USA, investing in the Company's equity. 1972 - The first silicon carbide plant was commissioned in Bangalore. 1977 - Out of the shares issued till date, 14,000 shares were issued without payment in cash and 1,30,656 shares were issued as bonus shares (12,850 shares in 1966 in prop. 3:5, 36,622 shares in prop. 19:20 and 81,184 shares in 1977 in prop. 27:50. 1979 - The second silicon carbide plant was commission at Tirupati in Andhra Pradesh. - The Company separated its manufacturing operations under two divisions, viz., the grinding wheel division and the abrasives materials division. At its complex at Mora in Maharashtra, the grinding wheel division manufactures bonded abrasives, coated abrasives and super refractories. - The Company entered into coated abrasives business in the early seventies, restricting itself to coated discs, commonly known as sander discs. The innovative zirconia aluminium oxide discs sold under the brand name "Zircon" revolutionised the sanding application. Super refractories made from silicon carbide, are moulded in various shapes and sizes and are used in the manufacture of ceramic products such as sanitaryware, chinaware and insulators. 1980 - The Government approved the Company's proposal to manufacture other coated products such as coated belts within the existing licensed capacity. - 1,39,916 bonus shares issued in prop. 3:5. 1983 - The Company had in hand a licence to expand the installed capacity of super refractories from 150 tonnes to 1,000 tonnes per annum. It was proposed to set up a separate plant for this purpose. - The Company had developed a profitable agency business representing foreign principals. The Company also commenced business of sourced products all the more significantly as supplier of quality cutting fluids and super abrasive products. - The Research & Development division of the Company developed high quality and performance abrasives and super refractories. - Equity shares of Rs 100 each subdivided into shares of Rs 10 each on 3.10.1983. 9,26,125 No. of equity shares then issued at a prem. of Rs 10 per share of which 9,450 shares were reserved for which 9,450 shares were reserved for preferential allotment to employees and business associates of the Company. The balance 9,16,675 shares were offered for public for public subscription during Nov. 1983. Arrears: Rs 64,000. 1985 - The Company associated itself with Lincoln GmbH for developing markets for Centralised lubricating system and also proposed to indeginise the production in course of time. 1986 - The range of coated abrasive products was expanded by the addition of silicon carbide water proof papers, rolls, emery cloth sheets, emery papers and other coated specialities. - With the assistance from Norton Company, the Industrial Ceremics division proposed to develop a market for industrial ceramics. 1987 - As part of technology absorption and adaption programme, speciality resins and abrasive combinations were developed. - The Company's business made progress as planned and satisfactory progress was also achieved in the indeginisation programme. 1988 - The Company was taking steps to strengthen its production base with additional capital expenditure. 1989 - The centre carried out a company-wide `Benchmarking' project of Grindwell's product vis-a-vis domestic and international competitor's product. 1990 - On 14th February, a new unit for silicon carbide plant Micogrits was commissioned. 1991 - A number of new products were added to the industrial ceramics range. - The Company issued 59,410-17% redeemable debentures of Rs 100 each. These are redeemable in two equal annual instalments on 2.1.2000 and 2.1.2001 at premium of Rs 5 per debenture to be paid on 2.1.2001. Also 1,50,000-18% redeemable debentures of Rs 100 each were issued on private placement basis with the UTI. These are redeemable in three equal annual instalments on 26.11.1993, 26.11.1997 and 26.11.1998, at a premium of Rs 5 per debenture payable in the second instalment. 1992 - The Abrasive material division's business was adversely affected by erratic power supply and hike in power tariffs especially because the Company's silicon carbide and aluminium oxide business are highly dependent on power and its cost. 1993 - The New Jumbo coating plant was commissioned in March which comprises modern plants incorporating Norton technology. Company has successfully implemented the maker tandemisation project. 1995 - The Company has introduced several new and improved products and strengthened its market. The Company is setting up a new focussed plant dedicated to the manufacture of specific products near Nagpur. 1996 - Coated abrasive business was affected due to negative growth in the tannery and plywood segments. - The Company has issued 69,20,000 No. of equity shares of Rs 10 each as fully paid bonus shares in the proportion of 1:1. - International Power Semiconductors Ltd., is a subsidiary of the Company. An order was passed on 8th March, 1990 by Mumbai High Court directing the Company to wind up the subsidiary. - 22,89,435 No. of equity shares of Rs 10 each at a prem. of Rs 238.75 per share allottred on preferential basis to Compaigne de Saint-Gobain to enable it to increase its combined holding to 51%. 2001- Grindwell Norton Ltd has informed BSE that the shareholders of the Company has authorised the Board of Directors of the Company to sell the Fused Casts Refractories business to SEPR Refractories India Ltd. at a consideration of not less than Rs 60 million. 2002 -Signs a sale agreement with SEPR Refactories India Ltd. 2003 -Sells its holding of 3450 equity shares of Rs.100 each representing 10% of the paid up capital of M./s Saint Gobain Diamant Winter Ltd. 2005 -Grindwell Norton Ltd and Orient Abrasives Ltd (OAL) has signed a Memorandum of Understanding (MOU). 2006 -Grindwell Norton has given the Bonus in the Ratio of 1:1 -Company has splits its Face value of Shares from Rs 10 to Rs 5 -Registered Office of the Company has been shifted from Army & Navy Building, 148, M.G. Road, Mumbai - 400 001 to Leela Business Park, 5th Level, Andheri-Kurla Road, Marol, Andheri (East), Mumbai - 400 059 2007 -Grindwell Norton Ltd has informed that Mr. Joseph Andrew Jude Pereira has been appointed as an alternate director to Ms. M A Chupin with immediate effect in the meeting of the Board of Directors of the Company July 25, 2007. 2009 - Grindwell Norton Ltd has informed that the Board of Directors has appointed Mr. A C Chakrabortti as the Chairman of Board in its Meeting held on July 24, 2009. 2010 - Grindwell Norton Ltd has informed that the Board of Directors, through Circular Resolution appointed Mr. Mikhil Malvinder Narang as additional director w.e.f. February 24, 2010. 2011 -Mr. Guillaurne Jean Philippe Texier as Appointed as Additional Director of the Company. 2012 -The Company had acquired industrial land in the state of Gujarat, for setting up a manufacturing facility for High Performance Refractory Business. 2013 - The Company has recommended a dividend of Rs. 6.50/- per equity share of Rs. 5/- each. - The Board of Directors have appointed Mr. Deepak Chindarkar, Vice President - Finance & IT, as the Chief Financial Officer of the Company. 2014 - The Company has recommended a dividend of Rs. 6.50/- per equity share of Rs. 5/- each. - The Company has appointed Mr. Benoit d'Iribarne as Alternate Director to Ms. M-A. Chupin. 2016 -Grindwell Norton has allotted 5,53,60,000 ordinary equity shares as Bonus Shares to the Members of the Company entitled. 2018 -Grindwell Norton Forays into Automotive Detailing Segment with the launch of Norton Car Spa in Indore. 2021 -Grindwell Norton Limited Joint Venture With Shinagawa Refractories Co. Ltd, Japan,has successfully commenced its commercial operation of Tap hole clay refractory products for the steel industry. 2024 -The Company executed Power Purchase Agreement and Share Subscription Agreement with Radiance MH Sunrise Thirteen Private Limited