The NITCO Group came into existence in the year 1956 with the 
 formation of a partnership firm at Delhi under the name of The 
 Northern India Tiles Corporation (Delhi) for manufacturing mosaic 
 tiles. The partners of this firm were Mr. A.N. Talwar (HUF), Mr. P.N.
 
 Talwar and Mr. W. N. Talwar.
 
 In the year 1964, another partnership firm was formed under the 
 name of The Northern India Tiles Corporation (Bombay), with 
 Mr.A.N.Talwar, Mr. P.N.Talwar, Mr.W.N.Talwar, and others as 
 partners to manufacture mosaic tiles at Thane, Mumbai, wherein by 
 an agreement, a license was granted by The Northern India Tiles 
 Corporation (Delhi) to use the brand NITCO.
 
 NITCO Group is engaged in segments relating to construction industry,
 
 which includes building products, manufacturing tiles, paints and
 other 
 construction activities. Our Company is the flagship company of the 
 group. Mr. Vivek Talwar and Ms. Poonam Talwar, son and daughter 
 of Mr. Pran Nath Talwar respectively, joined the Nitco Group and 
 are now in charge of the management of our Company as well as 
 our group companies.
 
 Our Company
 
 Nitco Tiles Private Limited was incorporated on July 25, 1966 at
 Delhi 
 to take over the business of manufacturing and marketing of tiles
 from 
 The Northern India Tiles Corporation (Bombay). On May 11, 1973, 
 the registered office of the Company was shifted from the Union
 Territory 
 of Delhi to the State of Maharashtra vide order of the High Court at
 Delhi.
 Subsequently, our company was converted into a public limited
 company
  with effect from January 25, 1996. Pursuant to this, the name of our
 
 Company changed to Nitco Tiles Limited.
 
 Pursuant to the take over of the business of the partnership firm,
 our 
 Company started to manufacture mosaic and terrazzo tiles at Thane, 
 Maharashtra. In 1984, we started our operation at Kanjurmarg, Mumbai
 
 for processing and distribution of imported marble in India. Growing
 further, 
 in 1995, we began the implementation of a green field project for 
 manufacture of ceramic floor tiles at Alibaug, Maharashtra and
 started the 
 commercial production of ceramic tiles in 1997. In 2002, we started
 one 
 more marble processing unit at Slivassa. In 2004, we scaled up
 operations 
 of outsourcing vitrified tiles from China. Currently, our product
 portfolio 
 comprises of ceramic tiles, vitrified/wall tiles, cement terrazzo
 tiles, pavers 
 and marbles etc.
 
 In 1995, our Company commenced to set up a project for the
 manufacture 
 of ceramic tiles at Alibaug in Maharashtra. The project cost was
 appraised by 
 ICICI at Rs. 812 mn. The cost of setting up the project was proposed
 to be 
 financed through a mix of debt of Rs. 451 mn, promoter’s contribution
 of 
 Rs. 222 mn and public issue of equity shares of Rs. 139 mn. for which
 our 
 Company received the SEBI acknowledgment card in February 1997. 
 However, we decided not to proceed ahead with the public issue due to
 
 bad market conditions. We successfully completed the project in 1997
 with
 a delay of ten months and cost overrun to the extent of Rs. 80 mn.
 
 2006
 
 -Nitco Tiles enters into CMA with Foshan Lungo Ceramics
 
 2008
 
 - Company name has been changed from Nitco Tiles Ltd to Nitco Ltd.
 
 2009
 
 --Registered Office of the Company has been shifted  from 86-A Maker
 Chamber III 8th Floor, Nariman Point Mumbai - 400021 to Nitco House,
 Recondo Compound, Inside Municipal Asphalt Compound, S. K Ahire Marg,
 Worli, Mumbai - 400030.