The company was incorporated on 1st July 1964.The certificate of 
 commencement of business was obtained on 19th August 1964. It was
 jointly promoted by TURNER & NEWALL LTD.,  MANCHESTER, a wholly owned
 subsidiary of TURNER & NEWALL LTD, with 74% equity participation.  The
 company acquired the undertaking of Asbestos, Magnesia & Friction
 Material Ltd., comprising its entire manufacturing businesses well as
 the estate, factory and office, with approximately 18 acres of land at
 Agra road in GHATKOPAR BOMBAY.  In November the company entered into
 technical assistance agreements with the operating subsidiaries of
 TURNER & NEWALL LTD., under which it was entitled to get technical
 assistance (i) from FERRODO LTD., for the manufacture of FERRODO
 friction materials for a consideration of pound sterling 5000 per
 annum payable for a period of 5 years, (ii) from J.W. ROBERTS LTD.,
 for the manufacture of FEROBESTOS asbestos flooring sheets for a
 consideration of pound sterling 1000 per annum payable for a period
 if 5 years.
          
 1982: A strike by the employees had an impact on the sales for the
 year. During the year the company received Government approval  for
 additional capacities of 1325 tonnes of brake linings and 10 lakh
 nos. of clutch facings. A collaboration agreement with VALCO, FRANCE
 for the manufacture of diaphragm  clutches was also signed.
 
 1983: There was a recession in demand in most of the company's
 product lines. During October the company issued 206093 - 12.5%
 convertible debentures of Rs 180 each of which 148000 debentures were
 offered to the public. Allotment was made on 14th December. Rs.80 out
 of the face value of each debenture was convertible into 5 equity
 shares of Rs.10 each at a premium of Rs.6 per share after 6 months
 but before 12 months from the date of allotment without any further
 act or application by the debenture holders (conversion rights
 already exercised). The balance of
 Rs.100 per debenture is redeemable at par in three annual instalments
 of Rs.35 Rs.35 and Rs.30 at the end 7th, 8th and 9th year respectively
 from the date of allotment of the debentures. 
 
 The company has acquired 44,886 sq.mts. of land at Paithan in
 Aurangabad district of Maharastra, during the period for setting up
 one or more remaining plants of the company for
 expansion/diversification.
 
 1984: The working was adversely affected due sluggish market
 conditions, keen competition, escalation in the cost of inputs,
 higher interest burden and steep increase in the Dollar Rupee parity.
  During the year application was filed for Industrial licence for the
 manufacture of speciality industrial gaskets in technical
 collaboration with FLEXITALLIC LTD., U.K.
                   
 1985: The working conditions were adversely affected by depressed
 market, work stoppages during July, September and October, additional
 bonus payment and implementation of an early voluntary retirement
 scheme.
         
 1986: Manufacture of diaphragm clutches at Jalna commenced.
         
 1987: Work force at Ghatkopar plant was trimmed to make the
 operations economically viable
         
 1988-89: Low capacity utilisation at Jalna, the delayed commissioning
 of the Bandra unit and the loss of production at Ghatkopar unit during
 February/March 1989 caused by inter-union rivalry, adversely affected
 the internal accruals of the company.
         
 1989-90: New markets were identified for its products and new items
 were added to its range of exports. Depreciation of the Rupee against
 the US and Canadian dollar imposed burden on the cost of raw asbestos,
 a principal raw material. The Jalna plant was proposed to be disposed.
 Necessary approvals were awaited.
         
 1990-91: Operations were discontinued at Ghatkopar plant from 18th
 October, 1990 to 15th May, 1991 and at Bandra from 9th January, 1991
 to 14th April, 1991. The proposal to dispose the Jalna plant was
 dropped and a strategy to run the unit without loss was evolved.
 
 1996-97: There was a strike at Paithan factory for 3 months. But in
 spite of it, the company managed to increase the turnover and profit
 marginally to Rs 62.81 crores and Rs 2.26 crores from Rs 60.87 crores
 & Rs 1.91 crores respectively.
 
 2007
 
 -Hindustan Composites Ltd has informed  that Mr.V.R. Tripathi, Vice
 President will be treated as the Compliance Officer of the Company
 w.e.f. 10th February 2007.
 
 2008
 
 -Hindustan Composites Ltd has repoointed Mr. P K Choudhary as
 Managing Director of the Company for a period of 3 years w.e.f. March
 18, 2008, subject to the approval of members of the Company in their
 general meeting.
 
 - Hindustan Composites Ltd has has appointed Lt. Gen. (Retd.) K.S.
 Brar as an Independent Additional Director of the Company w.e.f. 30th
 September 2008.
 
 2010
 
 -Hindustan Composites has recommended payment of dividend on equity
 shares @ Rs. 10/- 
 
 2011
 
 -Hindustan Composites Recommended the payment of dividend on equity
 shares @ Rs. 2/- (Rupees Two only) per share i.e. 20% of the paid up
 equity
 
 2012
 
 -Hindustan Composites Recommended the payment of dividend on Equity
 shares @ Rs. 2/- (Rupees Two only) per share i.e. 20% of the paid up
 Equity Share
 
 --Registered Office of the Company has been shifted from B-11,
 Paragon Condominium, P.B. Marg, Worli, Mumbai - 400 013 to Peninsula
 Business Park, A Tower. 8th Floor, Senapati Bapat Marg, Lower Parel,
 Mumbai - 400 013