DCL Maritech Ltd.

YEAR                       EVENTS
 1992 - The Company was incorporated on 30th March, as a Public
 Limited
        Company in the State of Andhra Pradesh.  The Certificate of
        Commencement of Business was also obtained on 6th April.  The
        Company has been promoted by Dr N P V S Raju, Dr G Satti
 Reddy,
        and associates.
 
      - The main activities of the company is to carry on the business
 of
        rearing, farming, catching, culturing, hatchery, breeding,
        cultivating, harvesting and processing of all varieties of
 marine
        products.
 
      - The company is setting up a modern sea food processing plant
 with
        an installed capacity of 1500 MT per annum.
 
      - The company has technical tie-up with CP Aquaculture Business
        Group of Thailand.
 
      - The Company has also separately entered into dealership
 agreement
        with CP Aquaculture Business Group for marketing their Feed
 in
        the States of Andhra Pradesh, Karnataka and Goa.  Other
 companies
        belonging to the group are Deccan Cements Ltd, DCL Finance
 Ltd,
        DCL Polyesters Ltd and Deccan Polypacks Ltd.
 
 1993 - The Company is setting up a most modern, Marine Food
 Processing
        Plant near Nellore, in Andhra Pradesh.  The Plant will have
 State
        of the Art Machinery and Equipment imported from Denmark,
 Sweden
        etc. and will be capable of producing premium quality
 products
        of international standard of over 4600 M. T. per annum.
 
      - The Unit at Nellore has received the approval of the Central
        Government as a 100 % Export Oriented Unit.
 
      - The Company would be shortly issuing to Public 30,00,000 No.
 of
        Equity Shares of Rs. 10/- each for cash at par to meet part
 of
        the cost of the Processing Plant being set up at North
 Rajupalem,
        Nellore and margin money for working capital for Feed
 Marketing
        Activity.
 
      - The Company has set up a Hatchery with a capacity of 100
 Million
        Prawn Fry per annum and Farm with a Water Spread Area of 100
        Hectares for growing Shrimps, in the second phase of the
 Project.
 
      - The Company has acquired 409.42 Acres of land at
 Krishnapatnam
        village in Nellore District of Andhra Pradesh for the purpose
 of
        establishing Hatchery and Farm in the second phase and the
 same
        is registered in the name of the Company.
 
      - During the period under review, Dr. N P V S Raju and Dr. G.
 Satti
        Reddy were appointed as Managing Director and Executive
 Director
        of the Company respectively.
 
 1994 - The Company has established a full fledged Research and
        Development Laboratory in the Plant to keep a strict control
 on
        the quality of the products to be exported.
 
      - The Public Issue of 30,00,000 Equity Shares of Rs.10/- each
        aggregating to Rs.300 lakhs made by the Company in October,
 1993
        received overwhelming response from the public and the net
 offer
        to the Resident Indian Public was over subscribed by more than
 18
        times and the Company has finalised the Basis of Allotment in
        consultation with the Hyderabad Stock Exchange.
 
 1995 - The `Aquaculture Industry' in Andhra Pradesh as well as in
        neighbouring States has been affected during the period
 November,
        1994 to February, 1995 by virus disease resulting in
 premature
        death of Shrimps.
 
      - During the year under review the company's products under the
        Brands `Suruchi' and `Abhiruchi' were well established in the
        Japanese market and are now amongst the most sought after
 Brands.
 
      - The Company has acquired 355 Acres of land at Karedu Village,
        Ulavapadu Mandal, Prakasham District which is ideally suited
 for
        Shrimp Hatchery and Farm.
 
 1996 - The stocking was very low because of the fear of disease and
 the
        same has effected the operations of the Company.
 
 1997 - During the year under review, the Industry in general was
        effected with non-availability of raw material in sufficient
        quantities to fully utilise the capacity of the Processing
 Plant
        due to the out-break of viral diseases, natural calamities
 and
        the Orders of the Supreme Court stipulating stringent
        restrictions on the Industry.
 
      - During the period under review Dr G Satti Reddy resigned to
 the
        position of Executive Director and expressed desire to
 continue
        as a Non-executive Director on the Board of the Company.
 
 1998 - During the period under review, the raw material was not
        available in sufficient quantities and therefore the capacity
        utilisation could only be 38% of the installed capacity while
 the
        expenditure could not be brought down to that extent.
 
      - To start a new chapter in the Company's working, the
 Directors
        decided to close the Company's Accounts on 31st March, 1998
 for a
        period of six months only.
 
      - The Company has become a Sick Industrial Company under the
        Provisions of Sick Industrial Companies (Special Provisions)
 Act,
        1985 (SICA).
 
 1999 - The Company entered into an Agreement with an interested
 party
        for processing of shrimps exclusively on jobwork basis.
 
 2000 - The Company engaged in aquaculture activity, has decided to
        dispose of its shrimp processing plant in Nellore district to
        Anjaneya Sea Foods of Ongole.