Rain Commodities

YEAR                       EVENTS
 1974 - The Company was Incorporated on 15th March, under the name 
        Tadpatri Cements, Ltd. and the Certificate of Commencement of
        Business was obtained on 10th April.
 
      - The Company was promoted by D.G.K. Murthy, a technocrat, S.
 Veera
        Reddy, N. Radhakrishna Reddy, P. Pratap Reddy, an
 industrialist,
        their friends, relatives and associates.  Andhra Pradesh 
        Industrial Development Corporation, Ltd. (APIDC) was also
        associated with the promotion of the Company.  
 
      - The Company's object is to manufacture portland cement.
 
 1984 - The name of the Company was changed to Priyadarshini Cement,
 Ltd.
        on 4th May.
 
      - The Company obtained mining lease from the Government of
 Andhra 
        Pradesh initially for a period of 20 years from 19th October,
 for
        ming of limestone over an area of 430 acres in village Revuru
 in
        Nalgonda district of Andhra Pradesh.
 
 1985 - 1,18,000 No. of equity shares subscribed for by the
 signatories
        to the Memorandum of Association, promoters, directors etc.
        1,63,82,000 No. of equity shares then issued at par out of
 which
        44,94,500 shares to promoters, directors etc. and 12,37,500 
        shares to APIDC were reserved and allotted.  Out of the 
        remaining 1,06,50,000 shares, 40,00,000 shares were reserved
 for
        preferential allotment to non-resident Indians on
 repatriation
        basis (only 20,26,900 shares taken up).
 
      - The balance 66,50,000 shares, alongwith the unsubscribed
 portion
        of 19,73,100 shares out of the NRI quota, were offered for
 public
        subscription during November.  16,50,000 additional shares
 were
        also allotted to the public to retain oversubscription.
 
 1986 - The Company incurred a loss due to shortage of power which
        resulted in under-utilisation of installed capacity.
 
 1987 - The Company undertook to instal a 5MW diesel generating set
 which
        was expected to be commissioned from January 1989.
 
 1988 - Margins were under pressure due to hike in input costs and 
        increase in freight charges.
 
 1990 - The Company came under the provision of the Sick Industrial
        Companies (Sp. Provisions) Act 1985 and as per the requirement
 a
        reference to the BIFR was made.
 
 1991 - There was no commensurate improvement in profits due to
 higher
        cost of inputs.
 
      - The Company had submitted a scheme in consultation with the 
        financial institutions and banks.
 
      - Forfeiture on 12,200 shares annulled.  20,25,650 shares
 allotted
        to promoters, directors etc. on conversion of unsecured
 loans.
 
 1992 - Margins were affected due to unrecovered increase in costs and
 
        sluggish market conditions.
 
      - In April, BIFR accepted the Sick Industrial Companies (Sp.
        Provisions) Act 1985, scheme and passed an order under
 Section
        17(2) of the Act.
 
      - 4,200 No. of equity shares allotted or forfeiture on 4,200
 shares 
        annulled.
 
 1994 - Forfeiture on 3100 shares annulled.
 
 1995 - 330,500 shares allotted.  17,50,000 shares allotted to
 promoters
        on conversion of loan as per BIFR order.
 
 2000 - Priyadarshini Cements has proposed to acquire Hemadri Cements,
 nearly
              year after taking over a cement unit from Nagarjuna
 Construction Company.
 
 2003
 
 - CDR Empowered Committee gives its approval for the Corporate Debt
 Restructuring (CDR) package
 
 -Mr N Jagan Mohan Reddy, Director has been appointed as Managing
 Director of the Company and has taken over the charge w.e.f. November
 14, 2003.
 
 2007
 
 -Rain Commodities Ltd on August 18, 2007 has approved the change in
 financial year of the Company, accordingly the Current Financial year
 shall be from April 01, 2007 to December 31, 2007 (9 months) and
 subsequent financial years shall be from January to December (12
 Months).