YEAR EVENTS 1983 - The Company was Incorporated on 8th November, at Hyderabad. - The Company's object is to manufacture glazed and unglazed ceramic tiles for floors and walls. - The Company was promoted by G.N. Naidu, K. Seshagiri Rao, and P.G. Naidu. The Andhra Pradesh Industrial Development Corporation, Ltd. (APIDC), the Pondicherry Industrial Development & Investment Corporation, Ltd. (PIPDIC) and Welko Industrial SpA of Italy (Welko) also participated in the equity capital of the Company. - The Company entered into a foreign collaboration agreement with Welco Industriale SpA of Italy (Welko) for supply of know-how, engineering and also for the supply of plant and machinery. Welko were to be paid US $ 3,90,000 for the technical know-how and US $ 5,040,100 as CIF value for supply of plant and machinery. 1985 - 5,40,000 No. of equity shares taken up as follows: - (i) 1,50,000 shares by APIDC. - (ii) 3,40,000 shares by directors and their associates and - (iii) 50,000 shares by PIPDIC. 34,80,000 shares then issued at par of which 15,00,000 shares were reserved and allotted as follows: - (i) 2,50,000 shares to promoters - (ii) 10,00,000 shares to WELKO, - (iii) 1,50,000 shares to APIDC and - (iv) 1,50,000 shares to APIDC and - (v) 1,00,000 shares to PIPDC. - Out of the balance of 18,60,000 shares, 8,39,200 shares reserved and allotted on a preferential basis as follows: - (i) 6,00,000 shares to NRIs; - (ii) 39,200 shares to friends and associates of promoters, directors etc. and - (iii) 2,00,000 shares to employees of the Company. The remaining 11,20,000 shares offered to the public in December (all were taken up). 30,000 shares pending allotment. 1986 - The Company undertook to set up a project for the manufacture of 25,000 tonnes per annum of ceramic tiles for floors and walls as a 100% Export Oriented Unit (EOU). - In view of a downturn in the market, an application was made to Govt. for allowing the unit to opt out of 100% EOU scheme. - Subject to the following conditions the Govt. vide their order dated 1st January, 1987 permitted the Company to opt out of 100% EOU Scheme: - (i) that 30% of the annual production must be exported for a period of 5 years; - (ii) to pay all duties upon plant, machinery and raw materials previously exempted; and - (iii) to pay a penalty at 10% on the value of capital goods exported. - Balance 30,000 shares allotted. 112,300 shares then forfeited. 1987 - Production was seriously affected till December due to severe power cut and interruption in the supply of LPG for about a month. 1989 - 13,40,000 Rights shares offered at par in prop. 1:3. Only 13,22,619 shares taken up. The balance 17,361 shares along with permitted retention of 2,01,000 shares allotted privately. Employees quota of 67,000 shares allowed to lapse. 1990 - Operations were affected for 5 months due to insufficient supply of LPG. - 40,00,000 rights shares issued at par in prop. 18:25 in Sept. Additional 6,00,000 shares allotted to retain oversubscription. Another 2,00,000 shares offered at par to employees (unsubscribed portion, if any, was allotted to Mutual Funds). 12,300 forfeited shares reissued at par to dealers of the Company on 29th December. 1992 - Exports in the previous year were severely affected due to disintegration of USSR. - The Company undertook expansion of its capacity from 25,000 TPA. - The Company had entered into an agreement with Gas Authority of India Ltd., for supply of Natural Gas for the major input in the tile manufacturing is LPG & LDO. Govt. of India had substantially increased the cost of LPG, hence the company approached GAIL for a continuous supply of gas. As per the agreement the Company is to be supplied gas on a regular basis from 1st April 1994. - The Company is eligible to draw 35,000 standard cubic mtrs. per day of gas. The Company proposed to instal a Genset to save substantially on the power cost. - Subject to necessary approvals being obtained, the company proposed to make a Rights issue of equity shares or fully convertible debentures for an aggregate amount not exceeding Rs.650 lakhs at a prem. not exceeding Rs.10 per share on allotment or on conversion. 1993 - The Company undertook to enhance its capacity by adding another 15,000 tonnes to the existing capacity. 1994 - In October, 32,55,800 shares allotted on preferential basis to promoters. 2002 -Regency Ceramics recommended dividend @15% 2004 -Equity shares delisted from Hyderabad & Madras Stock Exchanges 2007 -Regency Ceramics has designated E-mail ID for Investor Complaints: satish@regencytiles.com