YEAR EVENTS 1981 - The company was incorporated on 18th June, at Hyderabad. The main objective of the company is to manufacture asbestos cement sheets, pressure pipes and accessories. - It was promoted jointly by Andhra Pradesh Industrial Development Corporation (APIDC), Dr. G. Vivekanad, G. Vinod and Mrs. G. Kalavathi. APIDC Subscribed upto 26% of the equity capital (4,00,400 No. of equity shares of Rs. 10 each). 1985 - The Company achieved 102.5% capacity utilisation during October. - 4,00,400 subscribed for by promoters APIDC and 3,85,000 shares were taken up by co-promoters, directors, etc. 7,54,600 shares offerd at par for public subscription during December 1984. 1986 - The Company installed automatic stripping machines and pollution control equipment. Additional area was acquired for maturing of sheets. 1987 - 3,900 forfeited shares were reissued. 1988 - The name of the company was changed from Visaka Asbestos Cement Products Ltd. to "Visaka Industries Ltd'. 1989 - APIDC divested its entire holding to private promoters. Consequently the company ceased to be a joint venture. - Production declined to 25,762 tonnes due to strike by workers for nearly five and half months. - The Company undertook a project to set up facilities for the manufacture of synthetic blended yarn at Chiruva in Nagpur district of Maharashtra with the latest state-of-art-technology namely Air Jet Spinning with a capacity of 600 twin air jet positions. - The Company entered into an agreement with M/s. Marubeni Corporation of Japan to buy back 25% of the production for export. 1991 - During April/May, the Company issued 2,23,000-14% secured fully convertible debentures of Rs. 300 each of which 1,54,000 debentures were offered on rights basis to the then existing shareholders in the ratio of one debenture for every ten equity shares held. - Out of the balance 69,000 debentures. 11,150 debentures were reserved for preferential allotment to a employees/workers of the Company (only 2,940 debentures taken up). The remaining 57,850 debentures along with 8,210 debentures not taken by employees were offered to the public. All were taken up. Additional 33,450 debentures were allotted to retain oversubscription. - As per the terms of conversion, Part `A' of Rs. 200 and Part `B' of Rs. 100 will be converted respectively into 10 equity shares at the end of 6 months and 12 months from the date of allotment of debentures. - Accordingly, 25,64,500 No. of equity shares were allotted on 24th December, and 12,82,250 No. of equity shares were allotted in May 1992. 1992 - Similar situation was witnessed in sales also with sales of yarn improving substantially. However, sales realisation in the asbestos division registered improvement due to the Company switching over to raw materials that enabled a 100% exemption on the excise-duty. - The Company proposed to add two more MTS machines to meet the demand for yarn. - In October, the Company offered 28,28,375 No. of equity shares of Rs. 10 each at a premium of Rs. 25 per share of which 26,93,375 shares were offered on rights basis to the existing shareholders in the ratio of one equity share for every two equity shares held. (Only 24,71,083 shares were taken up and the remaining 2,22,292 shares remmained unissued). The remaining 1,35,000 shares were reserved for preferential allotment to the employees. None were taken up. They were allowed to lapse. - 12,82,250 No. of equity shares allotted (prem. Rs. 10 per share) in conversion of part `B' of debs. in May. 26,93,375 rights equity shares issued (prem. Rs. 25 per share; prop. 1:2) in Oct. (only 24,71,083 shares taken up). 1993 - Due to disturbances and riots in various parts of the country, the market for the company's product got adversely affected and not only was there a drop in the sale quantum from December '92 but the sales realisation was also much lesser than earlier. 1994 - In January the Company had added 2 more MTS machines to its existing capacity in the Spinning Division. 1995 - The company had come out with a Rights Issue in the month of November, and the shares were allotted against the Rights Issue on 12.01.1996 as a result, the share capital of the Company has gone up from Rs.785.78 lakhs to Rs.1075.37 lakhs. 1996 - During the year, the company have concluded a three year agreement with the workers in the Spinning Division which is valid upto 31.10.1999. 1999 - The company has implemented a VRS scheme at the factory which was availed by about 57 workers. - Mr. K.V. Ramaseshan retired as Managing Director on 31-03-1999 upon attaining superannuation. 2000 - The Company proposes to make a foray into the business of software development, software consultancy, software maintenance and other related activities. - Mr. H. Dayakiran has been appointed as alternate Director to Dr. S. Sudesh Reddy, to hold office for a period not longer than that permissible to the Original Director in whose place he has been appointed. 2003 -Visaka Industries Ltd. has informed the Exchange that Mr. V Pattabhi was appointed as Additional Director of the Company in the Board Meeting held on June 18, 2003. -G Vivekanand, Managing Director of the company, acquires 1,80,312 equity shares (1.69%) of Visaka Industries Ltd from IFCI Ltd at the rate of Rs.41/- per share under creeping acquisition. -Visaka Ind sets up plant in Bengal 2004 -Visaka Industries Ltd has informed that the BoD of the Company in its meeting held on January 16, 2004 approved proposal for expansion of capacity by 50% at the Nagpur Spinning Unit at a cost of Rs. 320 million. -Visaka infuses Rs 32-cr for modernisation of spinninig unit. -The Company has approved payment of dividend @ Rs.2.50/- per share (25%). 2005 -The Company is commencing trial production in the Company's Tumkur Asbestos Cement Sheet Plant in the State of Karnataka. -Visaka setting up asbestos facility in Rai Bareli. -The Company has recommended a final dividend of 20% on the equity capital. -Visaka Ind obtains eco clearance for cement sheets project. -Visaka Industries Board approves expansion plan in Fibre Cement Sheet division. 2006 -Visaka Industries - Commencement of commercial production in Garment Unit. -The Company.recommended, payment of dividend @ Rs 3/- per share (30%) for the financial year. -The Company approved the merger of M/s Shakthi Roofings Pvt Ltd, with the Company. 2007 --The Company has recommended payment of dividend @ Rs.3.00/- per share (30%). 2008 -The Company has commenced Commercial Production in the Company's Reinforced Building Boards Division, situated in Miryalguda, Andhra Pradesh. -The Company has recommended Payment of Equity dividend @ Rs 3/- per share. 2009 -The Company has recommended, Normal Dividend on Equity Shares @ 30% & Special Silver Jubilee year Dividend @ 10%. -Dr. G Vivekanand has been re-designated as Vice-Chairman and Managing Director of the Company. -Smt. G Saroja Vivekanand, Director of the Company has been appointed as a Whole Time Director and designated as Joint Managing Director of the Company. -Visaka Industries has announced that that it received the first export order for 300 tones of V Board valued at Rs.37 lakhs from Middle East. 2010 -The Company has recommended a Final Dividend of Rs. 2/- per Equity Share of Rs. 10/- each making the total Dividend of Rs. 5/- per Equity Share. 2011 -The Company has recommended a Final Dividend of Rs. 2/- per Equity Share of Rs. 10/- each making the total Dividend of Rs. 5/- per Equity Share. 2012 -Visaka Indsustries - Commencement of Commercial Production at Sambalpur unit. -The Company has recommended a Dividend of Rs. 5/- per Equity Shares of Rs. 10/-. 2013 -Visaka Industries Ltd has received award from Investors relations Society of India for topping in investor relations activities in the Industry of Fiber Cement Sheets. -Visaka Industries started commercial production at new unit in Maharashtra. 2014 -Board has Recommended a Dividend of Rs. 2.50/- (25%) per Equity Share of Rs. 10/-. 2016 -Visaka Industries unit 5 commences commercial production. 2017 -The company has launched a new roofing product called ATUM a new age eco-friendly, energy efficient & energy generating roof. 2021 -Awarded as the Most Trusted Brands of India 2021 by CNBC TV18. 2022 -Visaka Industries has commenced its commercial production at Company's new panel unit situated at Udumalpet Village, Tirpur Dist., Tamilnadu, with an installed capacity of 10,000 MT. 2023 -The Company has splits its face value from Rs. 10/- to Rs. 2/-. -Visaka Industries Limited has informed the Exchange regarding 'ATUM Solar division receives EEF Global Sustainability Award in Delhi'. 2024 -Winning of GEEF Global Sustainability Champion Award 2024 for ATUM Roof product of the company.