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Cosmo Films

BSE: 508814|NSE: COSMOFILMS|ISIN: INE757A01017|SECTOR: Plastics
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Company History - Cosmo Films
YEAR                      EVENTS
 1976 - The company was incorporated on 7th October at New Delhi.  The
 
        company was promoted by Ashok Jaipuria and is engaged in 
        manufacture of Biaxially Oriented Polypropylene (BOPP) film 
 for 
        packaging and electronic applications.
 
      - The Company undertook to manufacture biaxially oriented
        polypropylene film both coated and uncoated.  The film was to
 be
        manufactured in the thickness range of 10 to 15 microns and
 was
        intended to cater mainly to the packaging industry.
 
 1980 - Allotted 2,60,000 shares to promoters, etc., 99,000 shares to
        SICOM and 1,00,000 shares to Ashok Jaipuria.  4,41,000 shares
        offered at par for public subscription during July.
 
 1984 - The operations registered a satisfactory growth.  Production
 and
        sales increased to 512 tonnes and 499 tonnes respectively.
 
 1985 - The research and development wing of the Company developed a
 new
        product, pearlined film, which is used for attractive
 packaging.
 
      - Forfeiture on 1,700 No. of equity shares annulled.
 
 1986 - Subject to necessary approvals being obtained, the Company
        proposed to offer 11,93,800-15% secured convertible debentures
 of
        Rs. 120 each on Rights basis in the proportion 1 deb.: 2
 equity
        shares held.
 
      - Simultaneously another 59,690-15% debentures of Rs. 120 each
 and
        2,38,760 debentures of Rs. 120 each were to be offered on
        preferential basis to employees of the Company and to the
        shareholders of the promoter companies.
 
      - Rs. 20 of the face value of each debenture was to be
        automatically and compuslorily converted into 2 equity shares
 of
        Rs. 10 each at the expiry of 6 months from the date of
 allotment
        of debentures.
 
      - Remaining Rs. 100 of the face value of each debenture was to
 be
        converted into fully paid equity shares of the Company
 anytime
        between 3 and 4 years at a price to be decided by the Board,
 at a
        price not exceeding 45% of the average market price
 prevailing
        during the period of 6 months preceding the date of conversion
 or
        at Rs. 100 whichever is lower.
 
      - For those not opting for conversion, debentures would be
 redeemed
        in three yearly equal instalments payable at the end of 6th,
 7th
        and 8th year from the date of allotment of debentures.
 
 1987 - 14,17,500 shares issued (prem. Rs. 30 per share); 9,00,000
 shares
        Authorised Capital reclassified.  (Rs. 30 per share);
 9,00,000
        shares as right in prop. 1:1 (all were taken up); 4,50,000
 shares
        to the public in Dec. (all were taken up) and 67,500 shares
 to
        employees (only 2,600 shares taken up and the balance 64,900
        shares were allowed to lapse).  Additional 1,35,000 shares
        allotted to retain oversubscription (90,000 shares as rights
 and
        45,000 shares to the public).
 
 1988 - Despite the favourable results, margins were adversely
 affected
        on account of increased raw material costs, heavy burden of 
        interest and depreciation in respect of plant II and
 declining
        realisation.  The Company received overseas enquiries for sale
 of
        know-how for production of BOPP film and negotiation
 pertaining
        to the enquiries were in progress.
 
      - The Company received a letter of intent to expand the capacity
 by
        an additional 2,000 tonnes per annum of packaging grade film
 in
        collaboration with General Electric, U.S.A.
 
      - The Company promoted Cosmo Electrofil Ltd., for implementing
 a
        800 tpa capacity grade film project.
 
 1989 - The Company also took up implementation of the 800 tonnes per
        annum capacitor film project which went on stream.
 
 1990 - Increase in the cost of raw material, higher interest charges
 and
        steep levy in margin money on imports adversely affected the
        results.
 
      - Authorised capital increased by issue of unclassified shares.
 
 1991 - The company developed a very specialised BOPP film under the
        brand name CMP-111 that has all the advantages and feel of
 paper.
 
 2002
 
 -Change of address: Alankit Assignments Ltd, 205-208, Anarkali
 complex, Jhandewalan Extn, New Delhi - 110 055. Tel : 3610220-24,
 3513512-16  Fax : 3552001.
 
 -Appoints valuer to determine SWAP ratio of 1:2 and approves for the
 merger of Gujarat Propack Ltd with the company
 
 -Promoters of the company increase their stake by 8.49% by acquiring
 7.02 lakh shares at the rate of Rs.34.55 per share.
 
 -Holds 93.5% stake in Gujarat Propack Ltd and undertakes
 comprehensive restructuring which includes cost reduction and man
 power rationalisation.
 
 -Holds 55% share in biaxially oriented polypropylene (BOPP) domestic
 flexible packaging market.
 
 -Board approves for the expansion of additional production facilities
 of 14000 TPA at the cost of Rs. 500 million.
 
 2003
 
 -Board approves for the Bonus issue in the ratio of one equity share
 for every equity share  held.
 
 -Invests Rs.50cr to expand the capacity of its Aurangabad
 (Maharashtra) facility from 46000 tons to 60000 tons.
 
 -Members approve for the delisting of the company's share from Delhi
 stock exchange and Ahmedabad stock exchange.
 
 -The securities of the company has been de-listed from The Delhi
 Stock Exchange and The Stock Exchange, Ahmedabad.
 
 2006
 
 -Cosmo Films Ltd has has appointed Mr R Vasudevan as additional
 director of the Company w.e.f. October 26, 2006.
 
 2008
 
 -Cosmo Films Ltd has appointed Mr. Parvinder S Arora as Company
 Secretary w.e.f. July 04, 2008.
 
 2009
 
 - Cosmo Films Ltd has informed that the Board of Directors of the
 Company has co-opted Mr. H. N. Sinor, as Additional Director in the
 category of Non Executive and Independent Director w.e.f. March 02,
 2009 by way of resolution by circulation.
 
 2010
 
 - Cosmo Films Ltd has appointed Mr. Suresh Rajpal as a Director in
 the Casual Vacancy in the category of Non-Executive and Independent
 Director w.e.f. May 28, 2010.
 
 -Registered Office of the Company has been shifted  from 30,
 Community Centre, Saket New Delhi - 110017,  to 1008, DLF Tower-A,
 Jasola District Centre, New Delhi - 110 025
 
 2011
 
 -Set up a new manufacturing plant in South Korea in November 2011.
 
 -Ms. Neetu Sharma has been appointed as a Company Secretary and
 Compliance Officer of the company 
 
 2012
 
 -Ms. Jyoti Dixit has been appointed as a Company Secretary and
 Compliance Officer of the company 
 
 -Cosmo Films Ltd has recommended a dividend of Rs 5 per equity share
 
 2013
 
 -Cosmo Films Ltd has been started the commercial production
 manufacturing facility in Shendra.
 
 -Board has recommended a Dividend of Rs. 2.50 per equity share for
 the year 2013.
 
 2014
 
 -Board has recommend a Dividend of Re. 1.00 (10%) per equity share
 for the year 2014.
 
 2015
 -Cosmo Films showcases its thermal lamination films range in PAMEX 
 -Cosmo Films announces new business head for East Asia
 -Cosmo Filmss Export Oriented Unit becomes self sufficient
 
 2016
 -Cosmo Films - India Ratings upgrades Cosmo Films to IND A+
 -Cosmo Films launches Black Velvet Lamination Films
 -Cosmo Films to showcase a comprehensive range of speciality
 packaging products at Pack2Pack
Source : Dion Global Solutions Limited
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