ORGANIC COATINGS Share price

Snowcem India Ltd. was incorporated on 28.1.1959 as aPrivate Limited Company promoted by Killick IndustriesLtd. and Mr. Geoffrey P. Stevens. Subsequently it becamea deemed Public Limited Company on 28.3.1961 under Section43(A) of the Companies Act 1956. Mr. Geoffrey P. Stevenssold his holdings to George Lillington & Co. Ltd. U.K. inApril 1965 and Killick Industries Ltd sold its holdings toKosha Investments Ltd. in 1988. Thereafter the companywas converted into a Public Limited Company by a resolutionpassed in the Extra Ordinary General Meeting held on18.3.1992.The Company started its manufacturing activities at itsplant in Bombay with Snowcem cement paint. Snowcem Indiamanufactured and introduced waterproof cement paint for thefirst time in India and ever since then it has remained themarket leader. The Company also introduced Impermo - acement waterproofing compound in its early years. Duringthe period between 1963 and 1969 more speciality productsnamely Hardcrete Cemprover Cemix Snowfilla and Snowsolwere successfully introduced by the Company. In 1970Sandtex Matt a liquid exterior finish was introduced bythe Company for the first time in India. Sandtex Matt wasalready a prime exterior product in Europe and othercountries. Sandtex''s introduction was fully supported bythe collaborators in terms of technical and marketing.expertise.Due to diligent quality control and improved marketing anddistribution channels the Company''s products were able tocapture a lion''s share of the premium market. The two mainproducts of the Company Super Snowcem and Sandtex Mattenjoy the status of being the market leaders withestimated market shares of 33% and 65% respectively. Theconstant growth in demand of the Company''s productsnecessitated increase in production capacities. Thereforein 1988 the Company set up a modern manufacturing facilityat Gotan in Rajasthan right in the heart of the whitecement manufacturing region.In 1990 with increase in the demand of Sandtex Matt theCompany set up its third manufacturing facility atGummidipundi near Madras. This plant manufactures SandtexMatt as well as the copolymer resin base which is an importsubstitute. The Company has developed special resins atthis plant conforming to international standards andsuiting Indian climatic conditions. Snowcem India thushas three strategically located manufacturing facilities tocater to the domestic markets.The company is presently engaged in manufacture of cementpaint in powder and liquid forms at its factory Chandivali(C) Bombay Maharashtra Powder products at Gotan (G1)Rajasthan and liquid paints and resins at Gummidipundi(G2) Tamil Nadu with installed capacity as under on singleshift basis 300 working days a year. C G1 G2 TOTAL -- --- --- -----Powders (MT) 9600 9900 -- 19500Liquids (KL) 3600 -- 600 4200Resin (MT) -- -- 300 300The Installed capacities are not comparable with theoperational capacities since many of the products for whichthe licences were taken earlier have become obsolete andthe same machineries are currently being put to use formanufacturing other value added products.The company manufactures wide range of exterior paintproducts which includes Super Snowcem Sandtex MattCemprover Snowsol Impermo Hardcrete Cemix andSnowfilla.Besides the Company operates a wind mill at Muppandal inTamil Nadu for generating electricity for captiveconsumption and also for sale of excess generation to TamilNadu State Electricity Board. The installed capacity thecaptive consumption and the sale price per unit is tabledherein below:Installed Capacity Captive Sale Price Consumption per Unit6.50 Lacs units p.a 1.00 Lac units p.a Rs.1.25The company reached a production level of 4953 M/Tons forthe year ended 31st January 1971 which gradually increasedto 6053 M/Tons for the year ended 31st July 1981.Similarly the production of liquid products increased from114 K/Ltrs in 1971 to 193 K/Ltrs in the year 1981. Thecompany maintained its steady growth and achieved aproduction of 13092 M/Tons in powder products and 520K/Ltrs in liquid products for the year ended 31st July1988.The turnover for the year ended 31st January 1961 whichwas first full year of operation was Rs. 14.58 lacs. Inthe year 1971 the company achieved aturnover of Rs. 107.80lacs. The turnover for the year 1981 was Rs. 406.35 lacsand it reached an impressive level of Rs 1511.89 lacs inthe year 1988.SUBSIDIARY OF THE COMPANYThe company has no subsidiaries