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Bannariamman Sugars
BSE: 500041|NSE: BANARISUG|ISIN: INE459A01010|SECTOR: Sugar
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Company History - Bannariamman Sugars
YEAR                                                     EVENTS
 1983 - The Company was incorporated on 1st December in Tamil Nadu.
        Bannari Amman Sugars (BAS) is engaged in the manufacture of
        white crystal sugars, industrial alcohol and granite exports.
        The company has two sugar factories, in Tamilnadu and
        Karnataka.  The distilleries unit is also situated in
        Tamilnadu.
 
      - 19,00,000 shares subscribed for by the signatories to the
        Memorandum of Association, promoters, their friends and
        associates.  18,50,000 shares issued at par of which 10,000
        shares were reserved for allotment on a pref. basis to NRIs on
 a
        repatriation basis and 8,50,000 shares (along with the
        unsubscribed portion of NRI quota, if any) were offered for
        public during September 1985.
 
 1986 - The Company received a letter of intent for the manufacture
 of
        5,400 tonnes per annum of citric acid.  The Company was in
 the
        process of identifying proper technology and technical
        collaborator.  Plans were also afoot to enter into the
 business
        of processing and exporting granite stones and to set up a
        textile mill for the manufacture of cotton yarn.
 
 1989 - The Company commenced commercial activities in its granite
        division.  The Company proposed to set up a factory to
 process
        and polish granite slabs.  Building required for the unit was
        under construction.
 
 1990 - The Company operated the granite, quarry and commenced
 production
        of granite slabs.  Also, effective steps were taken to
 establish
        market in foreign countries for granite slabs and blocks.
 
      - The Company received a letter of intent for setting up a new
        sugar factory in Alagauchi village in Nanjangud Taluk of
 Mysore
        District, in the State of Karnataka.
 
 1991 - The granite division commenced production of granite tiles.
  
      - The land for establishing the sugar factory was secured and
        construction of the factory building commenced in June 1991.
 
      - To part finance the cost of the new sugar factory being
        established in Karnataka, the Company issued and allotted 14%
        secured redeemable non-convertible debentures for Rs 14 crores
 to 
        Citi Bank NA on private placement basis on 26th April.
 
 1992 - During August, the Company issued 37,5000 Secured Zero
 interest
        fully convertible debentures of Rs 50 each at par on Rights
 basis
        in the proportion of 1 debenture: 1 equity share held. 
 37,49,000
        debentures were allotted.  Allotment of 1000 debentures was
 kept
        in abeyance pending court order.  Another 1,87,500 - Zero
        Interest fully convertible debentures of Rs 50 each were
 offered
        to the employees.  Only 40,000 debentures were taken up.  The
        remaining unsubscribed debentures were allowed to lapse.
 
      - During the year, the Company has issued Secured Redeemable
        Non-Convertible Debentures for Rs. 14 Crores to Citibank N.A.
 on
        Private Placement Basis and the entire amount of Rs. 14
 Crores
        have been utilised to finance a part of the cost of the
 project
        for setting up the sugar factory in the State of Karnataka.
 
 1993 - The Company produced 27,286 sq. mtrs of granite slabs and
 2,766
        sq. mtrs. of granite tiles.  During the year, sugar factory
 in
        Tamil Nadu for 202 days and the total sugarcane crushed was
        244,989 tonnes at an average recovery of 8.72%.  The sugar
        factory in Karnataka worked for 142 days and sugarcane
 crushed
        was 177,442 tonnes at an average recovery of 8.96%.
 
      - The debenture of Rs 50 will be converted into one equity
 shares
        of Rs 40 per share of 1st of January.
 
      - During the year under review, the sugar factory in Tamil Nadu
 
        had worked for 308 days.  During the year under review, the
 sugar
        factory in Karnataka had worked for 126 days.
 
      - Certain new varieties of cane have been introduced in the
        sugarcane area of the Company based on the performance
 trials.
 
 1994 - 37,89,700 shares allotted conversion of secured zero interest
        fully convertible debentures.
 
      - On account of higher prices for jaggery, there was diversion
 of
        sugarcane in the reserved area for out Unit - II for
 manufacture
        of jaggery.  Hence, supply of sugarcane to our Unit - II in
        Karnataka was badly affected.
 
      - During the year the Company has participated in 2
 International
        Fairs to develop export market for polished granite products.
 
 1995 - During the year, the sugar factory in Tamilnadu worked for
 342
        days.
 
      - 20,00,000 equity shares of Rs 10 each to the members of
        M/s. Coimbatore Alcohol & Chemicals Ltd. as per the Scheme of
        Amalgamation.
 
      - The Hon'ble High Court of Judicature at Chennai has approved
 the   
        Scheme of Amalgamation for merging M/s Coimbatore Alcohol and
        Chemicals Limited with the Company.
 
      - During the year under review, the sugar factory in Tamil Nadu
 had
        worked for 316 days.  During the year under review, the sugar
        factory in Karnataka had worked for 287 days.
 
 1996 - The sugar factory at Tamilnadu worked for 280 days and at
        Karnataka for 269 days.  During the year, the company
 introduced
        one kg. packet of sugar under the brand name `Bannari' in and
        around Coimbatore.
 
 1997 - The Sugar factory in Tamil Nadu and Karnataka worked for a
 period
        of 196 days and 194 days respectively.  The prices of
 molasses
        ruled very high without corresponding increase in the prices
 of
        finished products.
 
      - During the year, the company had received a Letter of Intent
 from
        Government of India for expansion of cane crushing capacity
 in
        Karnataka from 2500 tonnes to 5000 tonnes coupled with
        co-generation of power with a capacity of 16 MW which is
 under
        finalisation.
 
      - During the year under review, the Company had issued 17.5%,
        5,00,000 secured redeemable non-convertible debentures of Rs.
 100
        each aggregating Rs. 5 crores on private placement basis to
 the
        Industrial Credit and Investment Corporation of India Limited
        (ICICI).
 
      - The Company had issued secured redeemable non-convertible
        debentures of Rs. 100 each aggregating Rs. 14 crores in April
        1991.  Out of the face value of Rs.100/- the Company has
        redeemed Rs. 33/- per debenture on 26.4.1997 aggregating Rs.
        4,62,00,000/-.
 
      - The Coimbatore-based Bannari Amman Sugars has become the
 first
        sugar mill in the South to venture into the branded sugar
        segment.  The company has recently launched its branded sugar
        under the name Bannari in and around Coimbatore.
 
      - The Coimbatore-based Bannari Amman Sugars Ltd (BASL) is
        planning to diversify into textiles by setting up a Rs 30
 crore
        textiles unit.  The plant, to come up at Coimbatore, will have
 a
        capacity of 25,000 spindles per annum.
 
 1998 - Bannari Amman Sugars Limited is planning to double the
 sugarcane
        crushing capacity of its Nanjangud-based unit from 2,500
 tonne
        cane per day (TCD) to 5,000 TCD.
 
      - The Bannari Amman group has launched a Rs. 65-crore expansion
        programme in its flagship company, Bannari Amman Sugars Ltd. 
        In six years, the company proposes to expand its capacity to
        5,000 t.c.d., considering the higher quantum of cane acreage
        that was made available.
 
      - With the expansion to 5,000 t.c.d., the company proposed to
        install additional an power plant having a capacity of 16 MW.
 
      - Bannari was the first in South India to get the ISO-9002
        certification for applying quality system for white crystal
 sugar
        in its Tamil Nadu sugar factory and the first to introduce
 the
        branded `Bannari sugar' in one kg. packets.
 
      - The Company also redeemed Rs 34 per debenture being second
        instalment or redemption on 26th April, aggregating to Rs
 4.76
        lakhs.  The face value of these shares stands reduced to Rs
 33
        per debenture with effect from 26th April.
 
      - Bannari Amman's expanded capacity of 7,500 TCD will be
        commissioned only in March, 2000 after which it will take up
 a
        second expansion of 2,500 TCD at the same location.
 
      - Bannari Amman Sugars (BAS) is engaged in the manufacture of
        white crystal sugars, industrial alcohol and granite exports.
 
 1999 - During the year under review, the factory at Tamilnadu had
 worked
        for 301 days.  The factory at Karnataka had worked for 245
 days.
 
      - The Company had issued 14% secured non-convertible debentures
 of
        Rs.100 each aggregating Rs. 14 crores in April 1991.  The
 Company
        has fully redeemed these debentures on 26.4.1999.
 
      - During the year, the Company has participated in STONA '99
        International Granite Fair conducted in Bangalore in
 February.
 
 2000 - No news.
 
 2001 - The Company proposed to acquire 3267950 (29.04 per cent) of
 Annamallai
              Finance Ltd. from Shiva Distilleries Ltd. at Rs 6 per
 share.
 2004
 
 -The Company's registered office is functioning in their newly
 constructed office at the following address from February 05, 2004 :
 Bannari Amman Sugars Limited, 1212, Trichy Road, Coimbatore 641018.
 Phone No: 0422 2302277; Fax No: 0422 2305599.
 
 2005
 
 - Equity shares of the company delisted from the Madras Stock
 Exchange Ltd and The Delhi Stock Exchange Association Ltd with effect
 from January 19, 2005 and January 20, 2005 respectively.
 
 2008
 
 - Bannari Amman Sugars Ltd has appointed Sri. T Gundan as an
 Additional Director on the Board of the Company.
 
 2009
 
 -Bannari Amman Sugars Board recommended payment of dividend of Rs
 10/- per Equity Share and Rs 9/- per Preference Share
 
 2010
 
 -Bannari Amman Sugars Boardrecommended payment of Dividend of Rs.
 10/-
 
 2011
 
 -Bannari Amman Sugars Boardrecommended payment of Dividend of Rs.
 10/-
 
 2012
 
 -Bannari Amman Sugars Boardrecommended payment of Dividend of Rs.
 10/-
Source : Dion Global Solutions Limited
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