The Company was incorporated on 13th November, 1991 as HINDUSTAN INKS
 AND RESINS LIMITED and obtained certificate of commencement of
 business
 on 13th January 1992.
 
 The Company is promoted by the Bilakhia group who are technocrats
 with
 experience over a decade in the field of printing inks and
 synthetics
 resins.
 
 The company engaged in manufacturing of inks and Resins.
 
 The company has a technical tie up with swiss company colara for
 supply
 of technology and formulation to manufacture various types of
 water-based inks.
 
 The main promoters of the Company are Shri Yunus G. Bilakhia and
 Shri
 Anjum G. Bilakhia.
 
 2000 
 
 - Care has assigned `AA+' rating to the company's Rs. 30-crore
 secured
 NCDs.  CARE has upgraded its earlier rating from `AA' to `AA+'
 assigned
 to the company's existing Rs. 20-crore secured NCD issue.
 
 - The Company has recommended issue of bonus shares in the ratio of
 one
 share for one held.
 
 - The Company has set up a wholly-owned subsidiary in the USA, with
 a
 paid up equity capital of .5 million, called Micro Inks
 Corporation.
 
 - The Company has commercially commissioned a speciality flushed
 colour/pigment plant having a capacity of 3,000 mt per annum and a
 resins plant having a capacity of 18,000 mt per annum in the first
 and
 second week of August.
 
 - Issue of 2,50,000 Red. Cum. Preference Shares of Rs 100/- each at
 premium of Rs. 900/- per share at a coupon rate not exceeding 9.5%
 of
 the face value aggregating to Rs 2500 lac on private placement
 basis.
 
 - The Company has commissioned its manufacturing plant at Vapi,
 Gujarat.
 
 - The Company issued 2,50,000 95% Cumulative REdeemable Preference
 Shares of Rs. 100/- each at a premium of Rs. 900/- pr share to a
 Bank
 and a Body Corporate as authorised by the Members of the company.
 
 - The equity capital of the company will increase to Rs.1366lakh
 from
 Rs. 683 lakhs on issueof hte Bonus Shares in the ratio of one share
 for
 one share held as approved by hte Member of hte Company at the
 Annual
 General Meeting of the Company held on 28th September.
 
 - The company's proposed commercial paper programme of Rs 12 crore
 has
 been assigned `PR1+' rating by CARE.
 
 2001 
 
 - The Company has been assigned `PR1+' rating by Credit Analysis and
 Research Ltd for its Rs 150 million commercial paper programme.
 
 - Bilakhia Holdings Pvt Ltd. has informed that it will acquire, any
 time after four days, 92,64,160 equity shares of the company.
 
 - The rights issue of 8197200 equity shares of Rs.10 each for cash at
 a premium of Rs.230/- per equity share aggregating to Rs.1967.3
 million of the Company has closed for subscription on October 27,
 2003.
 
 2004
 
 -Hindustan Inks And Resins Ltd has informed that the equity shares of
 the company have been voluntarily de-listed in terms of Clause 5 of
 the SEBI (Delisting of Securities) Guidelines, 2003 from the Delhi
 Stock Exchange Association Ltd effective January 23, 2004 and The
 Stock Exchange, Ahmedabad effective January 30, 2004.
 
 -Company name changed from Hindustan Inks & Resins Ltd. to Micro Inks
 Ltd. after adopting the name of its US-based wholly-owned subsidiary
 
 -Micro Inks Ltd has informed that the equity shares of the company
 has been delisted from Vadodara Stock Exchange wef March 22, 2004.