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Finolex Cables Ltd.

BSE: 500144 | NSE: FINCABLES |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE235A01022 | SECTOR: Cables - Telephone

BSE Live

Jan 14, 16:00
529.40 -2.85 (-0.54%)
Volume
AVERAGE VOLUME
5-Day
15,427
10-Day
15,986
30-Day
13,747
18,181
  • Prev. Close

    532.25

  • Open Price

    536.00

  • Bid Price (Qty.)

    529.70 (38)

  • Offer Price (Qty.)

    531.00 (30)

NSE Live

Jan 14, 15:59
530.00 -2.10 (-0.39%)
Volume
AVERAGE VOLUME
5-Day
141,567
10-Day
126,539
30-Day
140,036
99,904
  • Prev. Close

    532.10

  • Open Price

    535.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Company History - Finolex Cables
1967
 
 - The Company was Incorporated on 5th June, in Delhi as a private
 limited company under the name Alfa Rubber Co., Ltd.  It was
 converted
 into a public limited company on 8th October, 1969.  The Company
 manufacture variety of cables such as automobile cables, starter
 cables, PVC flexible cables, winding wires, armoured and unarmoured
 power and controlled cables, AAC/ACSR conductors, etc.
 
 1971
 
 - All shares issued to promoters, etc. 750 shares prior to 1970 and
 19,250 shares during the year.
 
 1973
 
 - The Name of the Company was changed to Finolex cables Ltd., with
 effect from 23rd August.
 
 1974
 
 - 25,000 share issued as rights in prop. 5:4.
 
 1981
 
 - Authorised capital reclassified and increased.  Equity shares
 sub-divided during 1982.  4,50,000 Rights Equity shares of Rs 10
 each
 issued at par in prop. 1:1 on 18.10.1982.
 
 1983
 
 - 9,00,000 shares issued a premium of Rs 8 per share through
 prospectus
 dated 27th May, out of which the following shares were reserved for
 allotment: 1,98,000 shares in equal proportion to ICICI and UTI;
 35,100
 shares to employees (including working directors of the Company) and
 14,040 shares to associates of the Company.  6,52,860 shares (along
 with the unsubscribed portion, if any, from the reserved quota) were
 offered for public subscription during July.
 
 1987
 
 - Government approval was received for doubling the production of
 Jelly-filled telephone cables.
 
 - The Company entered into a technical collaboration agreement with
 Reliance Comm/Tec. of U.S.A., manufacturers of connectors,
 protectors,
 DP boxes, cross connect terminals, etc.  The Company was to
 represent
 Reliance Comm/Tec. for their products, in India.
 
 - The Company entered into a technical collaboration agreement with
 Norddevtsche Seekabel Werke AG of W. Germany for the manufacture of
 high-tech special submersible cables.
 
 - 14,40,000 No. of equity shares issued as bonus shares in prop. 
 4:5.
 
 1991
 
 - The Company proposed to add balancing equipment and infra
 structural
 facilities for enhancing the capacity of the Urse factory further.
 
 - A letter of intent was received for the caustic soda/chlorine
 project.  Land allotted by MIDC and negotiations with foreign
 collaboration were on for technical know-how and investments.
 
 - The Company issued 8,50,000 - 18% non-Convertible secured
 redeemable
 debentures of Rs 100 each on private placement basis.
 
 1992
 
 - The Company proposed to take up manufacture of rubber insulated
 cables as also fluoro-polymer insulated cables in view of the
 increasing demand for it.  In addition, facilities for manufacture
 of
 optic fibre cable was also in the offing and negotiations were on
 for
 technical collaboration/joint venture.
 
 - The Company issued 1,50,000 - 15% non-convertible secured
 redeemable
 debentures of Rs 100 each for Rs 150 lakhs on private placement
 basis
 to Financial Institutions as follows:
 
 - (i) debentures of Rs 50 lakhs to UTI,
 
 - (ii) debentures of Rs 50 lakhs to LIC,
 
 - (iii) debentures of Rs 8 lakhs to National Insurance Co. Ltd.,
 
 - (iv) debentures of Rs 10 lakhs to New India Assurance Co. Ltd.,
 
 - (v) debentures of Rs 10 lakhs to United India Insurance Co.  Ltd.
 
 - The Company issued 4,00,000 - 14% (`C' Series) and 1,50,000-14%
 (`D'
 Series) non-convertible debentures of Rs 100 each for a total sum of
 Rs
 5.50 crores on private placement basis with financial institutions
 are
 given in the table along aside.
 
 - Non-convertible secured redeemable debentures of C and D Series
 are redeemable at a premium of 5% payable on the expiry of the 7th
 year
 from the date of allotment in five equal annual instalments
 commencing
 from 30th March, 1994 and 23rd September, 1993 respectively.
 
 - 32,40,000 bonus equity shares issued in prop. 1:1.
 
 1993
 
 - The Company proposed to expand the existing facilities at Pimpri
 for
 the production of light duty cables.
 
 - The Company proposed to take up manufacture of PVC and
 Polycarbonate
 rigid Thermoplastic sheets and PVC calendared products and
 negotiation
 were on for joint venture.
 
 1994
 
 - Facilities for manufacture of jelly filled telephone cables were
 fully shifted to Urse plant and was installed with a capacity of 5.5
 million cable Kilo Metre.  Installation of additional equipment as
 well
 as modernisation of the existing facilities was carried out at Urse
 plant.
 
 - It was proposed to put up a factory in Goa for manufacture of
 Continuous Cast Copper Rods with an initial capacity of 60,000 TPA
 and
 related down stream copper wire products in a joint venture with
 Essex
 Group Inc., USA.
 
 - It was also proposed to put up a captive power plant of about 25
 MW
 at Ratnagiri.
 
 - As per the general meeting of the Company held on 5th March,
 promoters were issued 15,00,000 warrants.  On 15th September,
 17,79,850
 No. of equity shares were allotted at a premium of Rs 465.20 per
 share.
 With this 6,10,075 warrants representing 12,20,150 No. of equity
 shares
 with a premium aggregating Rs 57.98 crores are yet to be converted.
 
 - 33,13,25 GDRs representing 33,13,254 No. of equity shares were
 raised
 leading to an amount of US $ 550 lakh.
 
 - The Company issued commercial papers worth Rs 1500 lakhs.
 
 1995
 
 - The Company promoted joint venture companies under its
 diversification programme are as follows: (a) Finoram Sheets Ltd.:
 The
 project implementation was at an advanced stage of implementation,
 (b)
 AT&T Finolex Fibre Optic Cables Ltd.: The Company will manufacture
 fibre optic cables at urse with an initial capacity of 10,000 Kms.
 of
 cable. (c) Finolex Essex Industries Ltd.: The company will
 manufacture
 continuous cast copper Rods and related downstream copper wire
 products
 in collaboration with Essex Group of U.S.A.
 
 - The installed capacity for manufacture of Jelly filled Telephone
 cables was increased to 6.5 MCKM by installing necessary additional
 equipment.
 
 1996
 
 - As a matter of diversification, the Company was in the process of
 setting up manufacturing facilities for fibre optic cables with a
 capacity of 10,000 Cable Kms. at Urse in a joint venture with AT&T
 of
 USA.
 
 1997
 
 - The Company proposed to set up a plant for production of Light
 Duty
 Cables with an investment of about Rs 750 million.
 
 - The Company undertook a programme of modernisation in the
 manufacture
 of conventional cables and generally to improve the infrastructure
 for
 achieving higher efficiency.
 
 - Finolex Cables has a joint venture with Paltough of Italy to
 manufacture PVC poly-carbonate rigid thermo-plast sheets, an MoU
 with
 Tarmac Black and Veach of US for power purchase with KSEB for a
 project
 in Kerala, a joint mission with Heogen-plast to make flexible
 plastic
 sheets and a joint venture with AT&T of US for fibre optic cables.
 
 - Creole Holding Co. Ltd., and Finolex Finance Ltd., are the two
 wholly-owned subsidiaries of Finolex Cables.
 
 - The Company's erstwhile wholly owned subsidiary Finoram Sheets
 Ltd.
 has been amalgamated with the Company with effect from 1st April.
 
 1998
 
 - The company, over the years, has set up a string of joint ventures
 with various international majors.
 
 - Finolex Cables Ltd, the flagship of the Finolex group, is one of
 the
 main private sector power cable manufacturing companies in India.
 
 - Finolex is the only Indian company to have received certification
 by
 Underwriters Laboratories Inc, United States, for computer LAN
 cables.
 
 - The company recently modernised and expanded its LDC unit at
 Pimpri
 near Pune to meet increasing demand.
 
 - The company has also developed thin walled high temperature
 resistant
 automobile wires an commenced supplies to reputed harness
 manufacturers
 for use in Maruti, Daewoo and General Motors cars.
 
 - The Company entered into a joint venture with Lucent Technologies
 for
 the manufacture of fibre optic cables.
 
 - Finoram Sheets Ltd., became a wholly owned subsidiary of the
 company.
 
 1999
 
 - The company is investing Rs 75 crore for setting up a new
 manufacturing unit at Goa.
 
 - A special committee has been set up under six directors to look at
 the various options of implementing buyback.
 
 - Finolex Cables Ltd has declared a bonus issue in the ratio of one
 equity share for every one share held.
 
 - FCL has also entered the automotive component market with the
 manufacture of thin wall high temperature wires.
 
 - The company has now become a major sourcing point for
 internationally
 established automobile harness makers and has recently launched 105
 degree celsius temperature resistant thin-walled wire.
 
 2000
 
 - The company has informed that offer for Buy-back of 36,10,620 No. 
 of
 equity shares in a price range of Rs 240 to Rs 275 through the book
 building process during the period commencing from 15.02.2000 to
 29.02.2000.
 
 - The Company is all set to acquire the holdings of Essex Group Inc,
 the company has infromed the National Stock Exchange.
 
 - Finolex Essex Industries Ltd has become wholly owned subsidiary of
 the company and will continue to act as a separate entity.
 
 - An illegal strike was started on December 28 by a section of the
 workers of the company's JFTC plant at Urse, near Pune.
 
 2001
 
 - The Company has informed that the workers/engineers on strike at
 its
 JFTC plant in Urse District, Pune, have called off their strike with
 immediate effect after reaching an agreement with the management and
 also they have agreed to resume duties.
 
 2002
 
 -Finolex Cables completes acquisition of Optical Fibre business of
 Finolex Technologies.
 
 -Develops total cable solution provider expanding from single plant
 to two new plants.
 
 -BOD passes a resolution and  its circulation approved the following
 revised Offer Time Table for the proposed buy back of equity shares
 by the company: Board Meeting approving Buy back - May 11, 2001.
 
 -Transfers  the beneficial interest of the entire shares held by the
 company and its nominees
 in its wholly owned subsidiary Creole Holdings Company Ltd.
 
 -Divests its entire share holding in the erstwhile subsidiary Creole
 Holdings Company Ltd.
 
 2004
 -Finolex ties up with Bajaj Allianz for insurance cover
 -Finolex Cables signs agreement with Bajaj Allianz
 
 2005
 -Finolex achieves `Superbrand Cable' status
 
 2007
 -The Company has splits its face value from Rs.10/- to Rs.2/-.
 
 2008
 -The company has recommended dividend @75%
 
 2009
 -The company has recommended dividend @ 10%
 
 2010
 -The company has recommended dividend @ 30% 
 
 2011
 -The Company has changed its Registrar and Share Transfer Agent, from
 M/s. Finolex Industries Ltd. to M/s. SHAREPRO SERVICES (INDIA) PVT.
 LTD.
 -The company has recommended dividend @ 35%
 
 2012
 -The company has recommended dividend @ 40% 
 
 2013
 -The Board has approved the Company setting up a captive 5 MW Solar
 Power Plant at its manufacturing facilities at Urse, Pune.
 - The Company has recommended dividend @ 60% (Rs. 1.20 per equity
 share of Rs. 2/- each fully paid.  
 
 2014
 - Th Company announced it has been awarded an advance purchase order
 of over Rs. 200 crores for Metal Free Optical Fibre Cable (OFC) of
 the National Optic Fibre Network (NOFN) backbone project.
 
 2015
 -Finolex enters JV with J-Power Systems, Japan
 -Strengthening the educational infrastructure of rural and semi urban
 Andhra Pradesh
 -Finolex industries recieves accolades from Pune Customs.
 
 2016
 -Finolex industries launches Fans & Water Heaters Switchgear plant in
 Uttarakhand.