| 1958
- The Company was Incorporated on 15th
December, at Mumbai to manufacture alumina, aluminium and
aluminium fabricated items.
- The Company was formed by the house of
Birlas in collaboration with the Kaiser Organisation of U.S.A.
According to the Company's agreement with Kaiser Aluminium and
Chemical Corporation, the Collaborators agreed to allot to the
Collaborators 4,80,000 fully paid-up equity shares of Rs 10
each.
- The Company also concluded Technical
Advisers and Consultants Agreements with Kaiser Aluminium
Technical Services Inc., California, who agreed to train the
Indian technical personnel, to supply the Company necessary
technical advice, to assist in operating the plant including
aluminium fabrication and to provide information for a period of
20 years on all technical matters.
- An agreement was also entered into with
Henry J. Kaiser Company for such design, engineering procurement
and related services with regard to the construction of the
plant at Rihand as were to be performed outside India and with
Kaiser Engineers Overseas Corporation for such services to be
rendered in India.
1960
- 2,50,000 Pref. & 58,50,000 equity shares
issued through a prospectus of which 4,80,000 shares allotted
without payment in cash to Kaiser Aluminium Corporation and
9,61,000 shares against cash. 1,20,000 shares to Kaiser
Aluminium Technical Services Inc. allotted without payment in
cash 21,33,000 shares to Birla Gwalior Pvt. Ltd. & 21,56,000
shares to public.
1961
- Rate of dividend on pref. shares altered.
In 1962, 10,750 No. of equity shares & 300 pref. shares
forfeited. Forteiture on 2,250 No. of equity shares annulled.
1964
- The Properzi mill plant was set up for the
production of redraw rods with a rated capacity of 6,000 tonnes
per annum.
- Forfeiture on 30 pref. and 3,950 No. of
equity shares annulled. Another 2,250 No. of equity shares
forfeited. Arrears: Rs 4,000.
1965
- An extrusion press and rolling mill for the
production of aluminium extrusions and rolled products (sheets,
etc.) was installed with rated capacity of 2,000 tonnes and
7,000 tonnes respectively, thus bringing the total capacity of
the fabrication plant to 15,000 tonnes per annum.
- The annual licensed production capacity of
the primary metal of 60,000 tonnes was achieved. Several
modifications in the plant were also implemented which enhanced
the Company's production of primary metal to 200 tonnes per day
by the end of 1968.
1967
- Another Properzi mill plant was
commissioned which expanded the fabrication plant capacity from
15,000 tonnes per annum to 37,000 tonnes per annum.
1968
- Two more extrusion presses and a few
additional facilities in rolling mill were erected by the end of
the year to get higher production.
- 1,00,000 9.3% Pref. shares issued at par in
1968. 3,61,383 Equity shares out of 1967 issue allotted in 1968.
Arrears of Rs 4,000.
1972
- 20,07,973 Bonus Equity shares issued in the
proportion 1:4. Arrears of Rs 4,000.
1976
- By the middle of the year the total
installed capacity of the metal rose to 95,000 tonnes per annum.
1977
- The Company revalued its plant and
machinery as on 1st January, and the surplus of Rs 61,71,60,821
arising out of it was transferred to capital reserves.
1981
- As on 1st January, the Company further
revalued the major items of land, buildings and plant and
machinery. A surplus of Rs 83,97,23,344 arising out of this was
transferred to capital reserve.
1982
- 33,46,622 Bonus Equity shares issued in
proportion 1:3 in June.
1984
- The Company issued secured non-convertible
debentures for a sum of Rs 17.50 crores for augmenting the
resources for long-term working capital requirements.
1985
- 26.69% of the Company's equity capital was
held by Kaiser Aluminium & Chemical Corporation, U.S.A., along
with their nominees (Kaisers) aggregating to 35,73,332 equity
shares of Rs 10 each as on 31st December.
1986
- The highlight of the alumina plant
expansion and modernisation was the installation of a gas
suspension calciner which was reported to be the first of its
kind in the world. The design and technology was provided by F.
L. Smidth & Co. of Denmark.
- An agreement was finalised with M & F of
Switzerland for installing the double digestion system to
further reduce the steam consumption.
- With regard to the reduction plant, the
Company received a licence to enhance its capacity from 1,20,000
tonnes to 1,50,000 tonnes of aluminium per annum.
- The Company was also engaged in expansion
of capacity from 1,20,000 tonnes to 1,50,000 tonnes of aluminium
per annum.
- The Company was also engaged in modernising
its smelter with a view of effect substantial savings in energy
consumption. With regard to the fabrication facilities, the
Company had in hand a licence to expand the capacity from 37,000
tonnes to 55,700 tonnes per annum.
- The Company holds the entire issued capital
of 35,006 equity shares of Rs 10 each of its subsidiary,
Minerals and Minerals Ltd., Calcutta. During the year the two
companies named Siddhpeeth Commercial Pvt. Ltd., and
Dhakshinanchal Commercial Pvt. Ltd., became subsidiaries of the
Company. Marigold Holdings & Trading Ltd., and Dhakshinanchal
Finance Ltd., were also subsidiaries of the Company.
- The Company issued 40,00,000-15%
non-convertible debentures of Rs 100 each for Rs 40 crores as
rights to resident equity and preference shareholders and
debenture holders. The proceeds were to be utilised for
financing the Company's modernisation scheme.
- As a matter of policy, Kaiser Group decided
to divest its holdings in various corporations world-wide where
they did not hold the majority interest. As part of this
disinvestment programme, they also decided to disinvest their
holdings in the Company.
1987
- The scheme to install double digestion
system in the alumina plant was under implementation. As a part
of its energy conservation programme, the Company commissioned a
microprocessor based controls on 20 pots on an experimental
basis to control pot voltage, alumina feeding, etc.
- During the year, an application was
submitted for permission to increase the smelting capacity of
Renukoot by a further 1 lakh tonnes per annum along with
matching alumina production and thermal power generating
capacity.
- The Company entered into an agreement with
the Pradeshiya Industrial & Investment Corporation of U.P. (PICUP)
on 2nd January for setting up an aluminium foil manufacturing
unit in the Assisted Sector at Jagdishpur in Sultanpur district
of U.P. The capacity of this foil plant was envisaged at 5,000
tonnes per annum and the estimated cost of the project was Rs 50
crores. This project was cleared under the MRTP Act in April
1989.
1988
- During May-June, Kaiser Group disinvested
all its equity shareholders in the Company.
- Conform extrusion machine was installed and
commissioned.
- (15 months), the Company issued 14%
non-convertible debentures of Rs 100 each for Rs 45 crores on a
rights basis to the existing resident equity shareholders and
preference shareholders. The funds thus raised were utilised for
the Company's modernisation schemes.
- The holdings of Kaisers were offered for
sale as follows: (i) 32,71,050 equity shares of Rs 10 each at
premium of Rs 40 per share to the shareholders of the Company as
rights in proportion 1:3 (fractions to be ignored) and (ii)
3,02,282 equity shares of Rs 10 each at a premium of Rs 40 per
share to the employees of the Company on an equitable basis.
- 44,62,622 Bonus Equity Shares issued in
proportion 1:3. Rate of interest on preference shares increased
to 15%.
1989
- The sixty pot line was commissioned, with
the addition of 70 pot cells, thereby increasing the installed
aluminium production capacity to 1.35 lakh tonnes per annum.
Installation of a new cold rolling was taken up to enhance the
capacity of rolled products by 40,000 tonnes per annum.
- The rate of Central Excise Duty on
aluminium was also increased by the Finance Act.
- The name of the Company was changed from
Hindustan Aluminium Corporation Ltd., to Hindalco Industries
Ltd.
1990
- During January-February, the Company issued
53,54,595-12.5% secured redeemable partly convertible debentures
of Rs 250 each on Rights basis in the proportion 3 debentures:
10 equity shares held. Additional 8,03,189 debentures were
allotted to retain oversubscription.
- Another 2,81,820 debentures were issued to
the employees (including Indian working directors)/workers) of
the Company on an equitable basis (only 2,23,450 debentures were
taken up). The unsubscribed portion of 58,370 debentures was
allowed to lapse.
- As per the terms of the debenture issue, a
portion of Rs 110 (Part-A) of the face value of each debenture
was converted automatically into one fully paid-up equity shares
of Rs 10 each at a premium of Rs 100 per share on the expiry of
six months from the date of allotment.
- The balance of Rs 140 (Part-B) of the face
value of each debenture would be redeemed at par in two equal
instalments of Rs. 70 each at the end of the 7th and 8th year
from the date of allotment of debentures.
- 63,81,234 No of Equity Shares allotted in
part conversion of 12.5% debentures as on 1.10.1990 (prem. Rs.
100). 145,37,930 bonus shares issued in prop. 3:5 in October.
1991
- The Company issued 40,00,000-17.5%
redeemable non-convertible debentures of Rs 100 each to
financial and other institutions on private placement basis.
1992
- Renusagar Power Co. Ltd., a wholly owned
subsidiary of the Company, was merged with the Company with
effect from the close of business on 31st March. The Company was
engaged in obtaining certification for ISO 9000 and for
introduction of TQM.
- The Company again revalued its assets as on
1st April, and the net surplus of Rs 90623.37 lakhs arising out
of this was credited to revaluation reserve.
- The erstwhile Renusagar Power Co. Ltd.
issued 6,50,000-18% non-convertible debentures of Rs 100 each to
financial institutions on private placement basis to augment the
long-term resources for working capital. Out of this, 3,00,000
debentures are redeemable at 5% premium in equal annual
instalments on 23rd June, 1998, 23rd June, 1999 and 23rd June,
2000. The remaining 3,50,000 debentures are redeemable on 23rd
June, 1999.
1993
- The Company was in the process of
implementing the expansion project to raise the smelter capacity
by 40,000 TPA to 2,10,000 TPA.
- With a view to meet the demand of over seas
markets, the company proposed to instal own Ingot Casting
machine. Also, alumina production capacity was enhanced to
3,50,000 TPA reducing thereby the company's dependence on
external sources.
- It was also proposed to undertake a further
expansion of alumina production capacity to 4,50,000 TPA with
the technology from Remolds International Inc. USA and Reytheon
Engineering & Construction, USA.
- The Company undertook to instal 9 high
pressure boiler along with back pressure turbines for generation
of power.
- During the year, the company proposed to
install two power generating units lamp a total capacity of
about 150 MW at Renusagar power plant. In addition, upgradation
of existing extrusion facilities, the existing hot and cold
mills.
- It was also proposed to install a vertical
ingot casting facility and vertical billet casting facility
using air ship technology required from Wagstaff Engineering
Inc. USA.
- The Company participated in the equity
capital of Birla International Ltd., incorporated in the Isle of
MAU. This was to promote exparte in India. Indo Gulf Fertilizers
& Chemicals Corporation Ltd., Bihar Caustic & Chemicals Ltd.,
Tanfac Industries, Mangalore Refinery & Petrochemicals Ltd., &
Birla Global Finance, Ltd. are all joint venture companies.
- Birla Capital International AMC Ltd., is a
joint venture asset management company was promoted by Grasim
Industries Ltd., Hindalco Industries Ltd., Indian Rayon &
Industries Ltd. and Birla Global Finance Ltd. with the capital
group International Inc., a major US based investment management
organisation.
- The joint venture manages mutual fund
schemes for Birla Mutual Fund. Another joint venture, Rajashree
Polyfil Ltd. was setting up an integrated plant with a capacity
of 66,000 TPA of polycondensation and 37,900 TPA of partially
oriented polyester filament yarns project.
- The Company issued 25,00,000-17% secured
non-convertible redeemable debentures of Rs 100 each on private
placement basis. Theser are to be redeemed in three equal
instalements on 11th May of 1999, 2000 and 2001 at a premium of
Rs 5 per debentures.
- On 22nd July, the Company issued 44,73,000
GDRs of U.S. $16.10 per GDR equivalent to Rs 505 per unit
(conversion rate of U.S. $1 = Rs. 31.37). Each GDR comprises one
equity share of the nominal value of Rs 10 together with
one-half of a warrant which can be converted into one equity
share on exercise of two half warrant at the price of U.S.
$16.10 subject to adjustment) during the period from 3rd
November, 1993 to 2nd November, 1995 (both days inclusive).
- These GDRs were offered to non-U.S. persons
in offshore transactions in reliance on Regulations under the
Securities Act of 1933, a amended, in the United States to
Qualified Institutional Buyers (QIBs) in reliance on Rule 144A
under the Securities Act. There was a lock-in period of 30 days
for the GDRs.
- 46,03,650 equity share out of 67,09,500
shares were allotted. The net proceeds of this issue, estimated
to be about U.S. $69,331, 500 (before expenses) were to be
utilised to part finance the Company's capital expansion
programme.
1994
- The Company proposed to further expand the
smelting capacity to 2,42,000 tonnes p.a. with an upgradation of
all attendant plants.
- It was also proposed to increase alumina
capacity to 4,50,000 TPA to match the smelting capacity.
Technology was being secured from Reynolds international Inc.
USA and United Engineers International Inc. USA. A significant
feature of the expansion is the installation of co-generation
system with a high pressure boiler and back pressure turbines
for power generation.
- During the year, the Company undertook to
increase the power generation capacity at Renusagar power plant
from 350 MW to 500 MW.
- With the strategy of undertaking down
stream activity with the purpose of acheiving higher realisation,
the company undertook to instal an aluminium foil plant with an
initial capacity of 5000 TPA.
- During July, the Company issued its second
GDR issue of 41,66,666 receipts at the rate of 24 $ per GDR.
Each GDR was converted into one equity share and accordingly
41,66,666 equity shares were to be allotted.
1995
- Installed smelting capacity was increased
to 2,10,000 MTPA with the completion of 7th Potline. The hot and
cold rolling mills were being modernised. On completion rolled
product capacity would be increased to 80,000 MTPA.
- The company of its first international US
$36 million. The warrant holders have the option to exercise
these warrants by 2nd November after April, 32.4% of the
warrants exercised till 31st March 1995, 4,67,900 equity shares
allotted on excuse of warrants.
- 16,37,950 No of Equity shares allotted on
conversion of GDRs. 6,000 No. of Equity shares forfeited.
1996
- One of the power generating turbine of 75
MW was commissioned during the year, taking the total capacity
to 425 MW.
- It was proposed to acquire additional
bauxite mines in M.P.
- The upgradation of existing extrusion
facilities with technology from Reynolds (Europe) Ltd. was
undertaken.
- With a view to improving quality of feed
stock for the upgraded rolling and extrusion facilities, the
company undertook to instal vertical ingot casting facility and
vertical billet casting facility. Both the facilities were to
use the Air Slip Technology of Wagstaff Engineering Inc., U.S.A.
- Following a comprehensive technological
upgradation of the Company's hot and cold rolling mills, the two
mills were commissioned in March 1997.
- Also, the Company's installed capacity of
rolled products was increased to 80,000 tpa. In addition, the
vertical ingot casting facility, a scalpter, soaking pits and
slitting line were commissioned.
- The Company received the special export
award conferred by the Chemical & Allied Products Export
Promotion Council of India for its outstanding export
performance.
- 24,827,990 bonus shares issued in prop.
1:2.
1997
- Extrusion Press No. 3 was completed by
increasing the overall extrusion capacity to 13700 MTPA. The
Foil plant at Silvassa was commissioned in February 1998.
- With a view to capitalising its inherent
strength, the Company was exploring the feasibility of setting
up an integrated Aluminium complex in Orissa.
- A MOU was signed with Orissa Mining
Corporation for transfer of two bauxite deposits with adequate
reserves. The project was to be named `Aditya Aluminium'.
- During the year the Company has signed a
technical collaboration agreement with Stahlschmidt & Maiworm
Gmbh of Germany for setting up an Aluminium Alloy Wheel Plant
adjacent to the Foil Plant at Silvassa. This project will
promote a new application in the domestic market besides
presenting the export market. - Hindalco Industries, a flagship
company of Aditya Birla group, on March 29 signed a MoU with the
Orissa Mining Corporation (OMC) for setting up of a mega
integrated aluminium complex in the state, at an estimated cost
of Rs.10,000 crore.
- The company also plans to set up a captive
power plant of 600 mw close to the coal deposit at Ib Valley.
The state-owned OMC will lease out its bauxite deposits at
Kodingamali-Pottangi to Hindalco for mining.
- The mega project includes setting up an
alumina refinery of one million tonne per year capacity near the
Kodingamali-Pottangi bauxite deposits in the Koraput district in
Orissa.
1998
- Hindalco Industries, an Aditya Birla group
company, commissioned its 5,000 tpa aluminium foil unit at
Silvassa.
- Hindalco commissioned the potline, where
aluminium is smelted by an electrolytic process, on February 18.
State-controlled National Aluminium Company (NALCO), currently
India's biggest aluminium producer, has a smelter capacity of
2,30,000 tonnes per annum.
- Hindalco on 11th Sept announced that it
would acquire a 51 per cent stake in B M Khaitan owned India
Foils Ltd (IFL).
1999
- Hindalco Industries Ltd is slated to
commission its aluminium alloy wheel plant at Silvaasa in
Gujarat in September, Mr. Kumar Mangalam Birla, Chairman of the
company, said.
- Hindalco Industries, the flagship company
of the Aditya Birla group, is the country's largest integrated
aluminium company.
- Aditya Birla group company Hindalco
Industries Ltd (Hindalco) has acquired 18,38,900 shares of
public sector major National Aluminium Company Ltd (Nalco)
through one of its investment subsidiaries.
- The Rs 1,767-crore aluminium major,
Hindalco Industries Ltd, is setting up a one lakh tonne per
annum brownfield (expansion at current site) aluminium smelting
project at Renukoot at an estimated cost of Rs 2,500 crore.
2000
- The board of directors has approved
entering into an agreement with Alcan Aluminum Ltd of Canada,
for purchase of 3,88,44,324 shares constituting 54.6 per cent of
the paid-up capital of Indian Aluminum Co. Ltd. Rs. 190 per
share.
- Indian Aluminium Co. Ltd. became a
subsidiary of the Aditya Birla flagship company Hindalco
Industries Ltd., which has taken up a 74.6 per cent equity stake
in Indal.
- Crisil has reaffirmed the highest safety
rating for the Rs. 100-crore non-convertible debenture programme
of Hindalco Industries and very strong safety for its Rs. 50
crores commercial paper programme.
- The Company acquired a majority ownership
of 54.62% in the company from Alcan Aluminium Limited, Canada.
It acquired an additional 20% stake pursuant to the open offer
under the SEBI Regulations, 1997.
- The Company of the Aditya Birla Group has
made a strategic move to implant the legendary `prata' and
allied management information services systems at all
operational locations of Indian Aluminium Company Ltd.
- Hindalco Industries proposes to buy 10 per
cent stake in Bihar Caustic & Chemicals from Grasim Industries,
- Hindalco has recently acquired from Alcan
Aluminium (Alcan) around 38.84 million shares of Indian
Aluminium Company, (Indal) aggregating to 74.6% holding. Indal's
strength in Alumina and downstream products would ideally
dovetail with Hindalco's strong presence in metal. It is also
among the world's lowest cost aluminium producers.
2002
-Hindalco has embarked on a brownfield
expansion in Renukoot. It will enhance the smelter capacity by
1,00,000 TPA and the alumina refining capacity by 210,000 TPA. A
matching increase in the captive power generating capacity is
also on the anvil. So consequent to its completion, aluminium
smelting capacity will increase to 3,42,000 MTPA. Alumina
refining capacity will be augmented to reach 6,60,000 MTPA and
power generation capacity will stand raised to 769 MW. The
project is being implemented at a cost of Rs. 18 billion and is
slated for completion in a phased manner, largely by end
2002-03.
-The company recently entered the Rs
250-crore branded foils market under the "Hindalco Wrap" brand
name. With this launch, the company wants to address a category
in the FMCG sector. Launched in 54 cities across the country,
Hindalco Wrap is currently available at most retail outlets in a
unique dispenser pack at Rs 42 for a nine metre roll. The
company also plans to enter the aluminium-based kitchen utility
products market in a big way.
-Hindalco, Indal marketing division
integrated
-Launches its new product 'Aura' aluminium
wheels
-Board of Directors approves buyback of
shares
-Mr Rajendra K. Kasliwal, Chief Financial
Officer, named the winner of the CFO Asia Pricewaterhouse
Coopers Achievements in Best Practices Awards for 2002 for
managing external stakeholders
-Receives the FICCI-Socio Economic
Development Foundation's (FICCI-SEDF) Social Responsiveness
Award for the year 2001, for its projects on rural development
and promoting economic self-reliance in over 334 villages
-Birlas increase stake in the company to
22.8% from 21.4%
-Acquires 4% stake in National Aluminium
Company Ltd. (Nalco)
-Makes open offer to acquire 25.5% stake in
Indal at Rs 120 per share
-Indo Gulf's investments in group firms
transferred to Hindalco Industries
-Hindalco Industries Board approves sale of
equity shares in Mangalore Refineries to ONGC
-Hindalco discontinues scheme of buyback
-Sebi stalls Hindalco's Indal open offer
-Temporarily shuts down Gurdari mines
2003
-Commissions 11th potline
-Acquires Nifty Copper Mine of Australia for
Rs 225 crore
-Copper Business of Indo Gulf Corporation Ltd
merged with the company with effect from Feb 12, 2003, swap
ratio fixed at 1:12 (1 share of Hindalco for 12 shares of Indo
Gulf Fertilisers held)
-Gives boiler contract of Rs 87 crore to
Alstom Projects India Ltd.
-Aditya Birla Group divests its Equity Stake
in Mangalore Refinery & Petrochemicals Ltd. (MRPL) to Oil &
Natural Gas Corporation Ltd. (ONGC)
-Hindalco Industries Ltd executes scheme of
amalgamation involving Hindalco Industries Ltd., Indo Gulf
Corporation Ltd. & Indo Gulf Fertilisers Ltd.
-Acquires 2.98 pc stake in Indian Rayon &
Industries, enhances holding to 12.80% percent
-Picks up 30-pc stake in Bihar Caustic &
Chemicals Ltd., increases the stake to 50%
-Hindalco increases its holding in Grasim to
3% and in Indian Rayon to 12.79%
-Shareholders approve to delist equity shares
from three stock exchanges (Madras, Calcutta & Delhi Stock
Exchanges)
-Divests its entire stake in Indo Gulf
Fertilisers Ltd. (IGFL)
-Appointed Mr. D Bhattacharya as Managing
Director
-Acquired Mount Gordon copper mine in
Australia
2004
-Hindalco Industries Ltd. has informed that
the Delhi Stock Exchange Association Limited, New Delhi, has
informed the Company that it has delisted the Equity shares of
the Company from its Stock Exchange w.e.f. December 29, 2003
pursuant to the application made by the Company to it for
voluntary delisting of its Equity shares.
-Hindalco Industries Ltd. has informed that
the Madras Stock Exchange Limited has informed the Company that
it has delisted the Equity shares of the Company from its Stock
Exchange wef January 07, 2004 pursuant to the application made
by the Company to it for voluntary delisting of its Equity
shares.
-Hindalco Industries Ltd has informed that
Shri Sanjeeb Chatterjee has been appointed as Company Secretary
of the Company w.e.f. February 1, 2004 with cessation of Shri
Anil J Jhala as Company Secretary.
-Hindalco Industries expansion for enhancing
the capacity of Copper Smelter
-Birla Copper acquired two mines in
Australia.
-Hindalco Industries signs an agreement with
ST Telemedia & TM International to acquire stake in Idea
Cellular
-Hindalco inks MoU with Orissa Govt to set up
aluminium complex
-Hindalco signs agreement with UAE based
Foodco
2006
- Hindalco Industries Ltd has announced that
on October 30, 2006 the Company has entered into a Joint Venture
partnership with ALMEX USA, Inc., for the manufacture of High
Strength Aluminium Alloys for applications in the aerospace,
sporting goods and surface transport industries.
2008
-The company has issued rights in the ratio
of 3:7at a premium of Rs.95/- Per Share.
2009
- Hindalco Industries, Aditya Birla group
flagship firm, has decided to cut its overseas operations and is
restructuring its capital expenditure in India in an effort to
stabilise operations. As part of this overall plan, Novelis,
which Hindalco acquired for $6 billion in 2007, is closing its
sheet mill at Rogerstone in the UK, involving 440 job losses.
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