YEAR                       EVENTS
 1982 - The Company was Incorporated on 17th May, in Kerala and
 obtained
        the Certificate for commencement of Business on 7th December. 
 It
        was promoted jointly by Hyderabad Industries Ltd. (HIL), and
        Kerala State Industrial Development Corporation Ltd.,
 (KSIDC).
 
      - The Company's objects is to manufacture of asbestos cement
 sheets
        and accessories.
 
      - The company undertook to set up a project for manufacture of 
        36,000 tonnes per annum of cement sheets and accessories. 
 Land
        admeasuring 12.5 acres was acquired at Killanur village, a 
        notified backward area in the Thrissoor District of Kerala. 
 The
        major part of the plant was supplied by HIL, incorporating a 
        fully automated process.
 
 1986 - 70 shares subscribed for by the signatories to the Memorandum
 of
        Association.  18,99,830 shares then issued at par out of
 which
        5,70,000 shares to KSIDC and 4,36,930 shares to Hyderabad 
        Industries Ltd., were reserved and allotted.  Out of the 
        remaining 8,93,000 shares, the following shares were reserved
 for
        preferential allotments:
  
      - (i) 95,000 shares to employees and Indian working directors
 of
        the company and
      
      - (ii) 17,800 shares to Business associates of the company.  
 
      - Out of (i) and (ii) above, only 36,300 shares were taken up. 
 The 
        balance 7,80,200 shares, along with 76,500 shares not taken
 up
        out of preferential quota, were offered for public
 subscription
        during January-February 1986.  Additional 1,99,000 shares
 were
        allotted to the public to retain oversubscription.
 
 1991 - 3,200 forfeited shares were reissued.
 
 1992 - 500 forfeited shares were reissued.
 
 1995 - The Company proposed to set up a manufacturing unit for 
        production of cultured marble products at Erumathala, near
 Alwaye
        Kerala.
 
 1996 - The Company decided to take up fabrication and marketing up 
        surfacing materials from solid state products.  The Company
 has
        made an arrangement with Wilson Art International Inc., U.S.A
 for
        sourcing basic material.