Roofit Industries Ltd. Company History and Annual Growth Details

1982

- Ratnagiri Building Products Ltd, manufacturers of asbestos cement
sheets under the brand name 'Roofit' was incorporated on 18th February.

- The company is part of the Motwani Group, that has experience in the
asbestos cement sheet industry for over three decades.

- The company is setting up of cement clinker grinding unit in
company's existing factory premises is in progress as per schedule and
commercial production.

1993

- The company is coming up with Rights-Cum-Public issue of 11 lakhs
Equity Shares of Rs 10/- each at a premium of Rs 20/- per share
aggregating to Rs 330 lakhs in August.

1994

- During the year Premier Pressure Pipes Ltd., which is engaged in the
manufacture of Asbetos Cement Sheets and Pressure Pipes became wholly
owned subsidiary of the company.

1995

- Premier Pressure Pipes Ltd, the wholly owned subsidiary of the
company.

1996

- During the year, the name of the Company has been changed to Roofit
Industries Ltd.

- The company has already commenced work on setting up new roofing
sheet plant with installed capacity of 45,000 t.p.a. at Village
Abitghar, Wada Taluka, Thane District in Maharashtra State.

- The company has already received letter of intent from the Central
Government for the same.

1997

- Bombay High Court and Madras High Court have approved the merger of
the Company's wholly owned subsidiary, Premier Roofing Products Limited
(PRPL) with Roofit Industries Limited (RIL) with effect from 1st July.

1998

- 18.50% Non Convertible Debentures issued to Karnataka Bank Limited
are due for redemption in November.

- The Company has a 45,000 tpa plant at Ratnagiri in Maharashtra and
another 45,000 tpa plant at Wada in Thane.

- The Company is also setting up a 45,000 tpa roofing sheet plant at
Kalyani in West Bengal which will enable it to access the markets in
the Eastern part of the country.

- Roofit Industries Limited, a manufacturer of asbestos cement sheets,
takes over asbestos pipe division of Sun Earth Cements Limited, from
1st July.

1999

- The company has introduced a range of new products like designer
sheet, AC pressure pipes and products made from composites.

- The company has installed capacities of 70,000 tpa each at Ratnagiri,
Chennai and Wada, and 30,000 tpa at Aurangabad.

- The Company has issued 13,00,000 No. of Equity shares at a price of
Rs. 85/- per share to the Promoters.

2000

- The Company has allotted 1,00,000 zero-coupon fully convertible bonds
of Rs. 150 each to Sun Earth Ceramics Ltd.

- The Rs 183-crore Roofit Industries is introducing eight different
plasters into the Indian market in technical collaboration with Raute
Dry Mix OY of Finland.

- Mr. Vinod G. Motwani has resigned as Managing Director with effect
from 1st June.

- The Company has setting up of two units to manuffacture dry plaster
in Pune and Chennai.

- The Board has declared a bonus of one share for every share held for
the year ended June.

Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article