Moneycontrol Be a Pro
Get App
SENSEX NIFTY
VIP Industries > Company History > Plastics > Company History of VIP Industries - BSE: 507880, NSE: VIPIND
YOU ARE HERE > MONEYCONTROL > MARKETS > PLASTICS > COMPANY BACKGROUND - VIP Industries

VIP Industries

BSE: 507880|NSE: VIPIND|ISIN: INE054A01027|SECTOR: Plastics
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Oct 16, 16:00
460.65
-3.1 (-0.67%)
VOLUME 16,814
LIVE
NSE
Oct 16, 15:54
460.60
-2.8 (-0.6%)
VOLUME 328,602
Company History - VIP Industries
YEAR                                                  EVENTS
 1968 - The Company was incorporated on 27th January as private
 limited
        company under the name and style Aristo Plast Pvt. Ltd., and
        commenced its activities by taking on job work in plastic
        moulding.  The Company became a deemed public limited company
        under section 43-A of the Companies Act, 1956 on 15th March,
        1973.  The operational management of the Company changed
 hands.
 
 1971 - The Company became a wholly owned subsidiary of Blow Plast
 Ltd.
 
 1973 - The Company established complete manufacturing facilities
 which
        included injection moulding, electroplating, anodising, frame
        bending, press shop, component manufacturing and assembly.
 
 1979 - The Company implemented its first expansion programme at
 Nasik
        (Maharashtra) increasing the production capacity from 40,000
 to
        60,000 pieces of luggage per month.
 
 1980 - A new tool room was commissioned for the manufacture of
        sophisticated press tools, jigs, fixtures, dies and moulds.
 
      - 300 No. of equity shares without payment in each and 450
 equity
        shares for cash were allotted to Blow Plast, Ltd., and its
        nominees.  750 bonus equity shares issued in prop. of 1:1 in
        1977-78 and 1,500 bonus equity shares issued in prop. of 1:1.
        All shares were held by Blow Plast, Ltd., and its nominees.
 
 1981 - The Company implemented a second expansion programme by
 setting
        up a new unit to increase the production capacity from 60,000
 to
        90,000 pieces of luggage per month.
 
      - The name of the company was changed from Aristo Plast Ltd.,
 to
        V.I.P. Industries Ltd., with effect from 16th June.
 
 1982 - The Company launched a new project at jalgaon (Maharashtra)
 for
        the manufacture of soft luggage which was sold under the name
        SKYBAGS.
 
      - The Company undertook a modernisation programme at Nasik by
        replacing older machines and technology, thereby improving
        product quality and productivity, conserving power and
 improving
        storage and material handling systems.
 
      - Marketing of the Company's product viz., VIP moulded luggage
 and
        SKYBAGS soft luggage is carried out by Blow Plast Ltd., who
        have a strong network of branches all over the country.  In
        addition, the Company directly sells to selected customers
 and
        wholesalers.
 
      - 3,000 bonus equity shares issued in prop. of 1:1.
 
 1985 - The new moulded luggage plant at Jalgaon made a significant
        contribution to the total output.  A 25% excise duty was
 imposed
        on moulded luggage.  The excise duty was exempt from March.
 
      - However, as a result of much larger volume of production and
 cost
        savings, the Company was able to absorb half of the burden of
        exicise duty, the other half being absorbed by the dealers.
        With a view to widen the consumer base, the Company started
        producing relatively low priced luggage.
 
      - The capacity of the Jalgaon plant was expanded and the Nasik
        plant was being modernised.  A new factory was set up at
 Nagpur
        in Maharastra for the manufacture of moulded luggage.
 
      - Equity shares subdivided.  30,00,000 bonus equity shares of
 Rs.10
        each then issued at a prem. of Rs.2 per shares linked to
        debentures out of which the following shares linked to
 debentures
        were reserved and allotted on a preferential basis:
 
      - (i) 48,000 shares to business associates of the Company;
 
      - (ii) 1,92,000 shares to shareholders of Blow Plast, Ltd;
 
      - (iii) 1,20,000 shares to employees of the Company, holding
        company and associate companies and
 
      - (iv) 8,00,000 shares to non-resident Indians on repatriation
        basis.  The balance 12,40,000 shares linked to debentures
 were
        offered for public subscription during February, 1986.
 
 1986 - The Company ceased to be a subsidiary of Blow Plast Ltd.
 
      - The Company launched a new range of moulded luggage under the
        brand names International Tourister and Odyssey.
 
      - The all plastic International Tourister range of suitcases
 were
        aimed at the middle and lower segments of consumers, the
        odyseey was to cater to the more discerning consumers.
 
      - The Company issued 24,00,000 No. of equity shares of Rs.10
 each
        at a premium of Rs.2 per share linked to 9,60,000 15% secured
        redeemable non-convertible debentures of Rs.100 each for cash
 at
        par.  Out of this the following shares and debentures were
        reserved and allotted on a preferential basis:
 
      - (i) 48,000 No. of equity shares linked to 19,200 debentures
 to
        promoters, directors, their relative and business associates
 of
        the Company.
 
      - (ii) 1,92,000 No. of equity shares linked to 76,800 debentures
 to 
        shareholders of Blow Plast Ltd., the holding company of V.I.P
        Industries Ltd.;
 
      - (iii) 1,20,000 equity shares linked to 48,000 debentures to
 the
        employees of the Company, holding Company and associate
        companies.
 
      - (iv) 8,00,000 No. of equity shares linked to 3,20,000
 debentures
        to non-resident Indians and persons of Indian
 Nationality/Origin,
        residing abroad on repatriation basis.  The balance 12,40,000
 No. 
        of equity shares linked to 4,96,000 debentures were allotted
 to
        the public.
 
      - These debentures are redeemable in full at a premium of Rs.5
 per
        debenture on the expiry of 7 years from the date of
 allotment.
 
 1987 - Despite go-slow and a lock-out at Nasik factory for over two
        months, production and sales were maintained almost at the
        previous year's level.  However margins were under pressure
 due
        to prevailing competition.
 
 1988 - The sales declined to Rs. 64.64 crores from Rs. 68.90 crores
 in
        the previous year due to factors like heavy excise duty,
 stiff
        competition and hike in the input costs.
 
      - 60,00,000 Right equity shares issued at a premium of Rs.30
 per
        share to the existing shareholders in prop. of 1:1.
 
 1994 - The Company withdrew from the Industrial Crates line and
 opted
        out of the luggage exports markets of Nigeria and CIS
 countries.
 
 2000 - The Company has approved the scheme of amalgamation of
 Cristobal 
               Investments Co Ltd, and its wholly owned subsidiary
 Pristine Plast Ind Ltd with 
               the company effective from 1st April.
 
 2001 - The Company has launched a new range of Moderna moulded chairs
 in wood finish.
 
            - The Dilip G Piramal-headed VIP Industries has entered
 into a strategic tie-ups with 
               the France-based luggage maker delsey.
 
             - VIP Industries Ltd., a luggage manufacturer, has
 entered into a strategic alliance with
                Delsey.
 
            - VIP, has bagged its largest order of over 55,000
 briefcases for the German market.
 2002
 -Milind Puranik resigns as Company Secretary of VIP Industries.
 
 2003
 - Vip Industries Ltd. has informed that Mr. A G Warey has resigned as
 Director of the Company w.e.f. June 6, 2003.
 
 2004
 
 -Vip Industries Ltd. has informed that the Company's bid for
 acquisition of certain Assets of Carlton International plc U.K. which
 is under liquidation, has been accepted
 
 2005
 
 -VIP enters soft luggage segment
 
 2009
 
 - Vip Industries Ltd has informed that at the meeting of the Board of
 Directors of the company held on June 30, 2009, Ms. Radhika Piramal
 has been appointed as an Executive Director of the Company w.e.f.
 July 13, 2009.
 
 - VIP Industries Ltd has informed that the Board of Directors of the
 Company at its meeting held on June 30, 2009, Ms. Radhika Piramal has
 been appointed as an Executive Director of the Company w.e.f. July 13,
 2009.
 
 2010
 
 - Vip Industries Limited has appointed Mr.T.Premanand as an
 Additional Director, being a Whole-time Director of the Company
 designated as Director - Works with effect from July 27, 2010.
 
 
 2011
 
 - The Board of Directors of the Company has declared an Interim
 Dividend of Rs. 3/- (Rupees Three only) per equity share of Rs. 10/-
 each.
 
 - Mr. Jogendra Sethi has been appointed as the Chief Financial
 Officer (CFO) of the Company.
 
 -Company has splits its Face value of Shares from Rs 10 to Rs 2
 
 2012
 
 - The Board of Directors of the Company have declared an Interim
 Dividend of 60 paise (Paise Sixty Only) per equity share of Rs. 2/-
 each.
 
 - Vip Industries Ltd has informed that a wholly owned subsidiary of
 the Company by the name VIP Industries Bangladesh Pvt. Ltd. has been
 incorporated to set-up luggage manufacturing plant in Bangladesh.
 
Source : Dion Global Solutions Limited
Quick Links for VIP Industries
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.