History of Eveready Industries India Ltd.
YEAR EVENTS 1934 - The Comp. was Incorporated. The Comp. was converted into a Public Limited Comp. in 1955. The Comp. manufacture & sell dry batteries & allied products, flashlight cases & parts, zinc alloys, strips and plates, stellite super alloys, cinema arc carbons, carbon electrodes and electrolytic manganese dioxide and cultivation, manufacture & sales of tea. The battery is sold under the brand name `Eveready' and tea as `Tej' & `Premium Gold'.
1959 - 8,00,000 Right shares issued [Prem. Rs 2.50 per shares] prop. 2:5.
1964 - 8,40,000 Right shares issued at a premium of Rs 4 per share in the proportion 3:10.
1965 - 4,55,000 Bonus shares issued in the proportion 1:8.
1968 - In December, 20,47,500 Right shares issued at par in prop. 1:2. 20,47,500 Bonus shares issued in prop. 1:2.
1970 - 40,95,000 Bonus Equity shares issued in the prop. 1:22.
1972 - A letter of intent was received for manufacture of 5,000 tonnes of MIC-based pesticides.
1974 - 61,42,500 Bonus Equity shares issued in the prop. 1:2.
1978 - 32,94,500 shares issued at a prem. of Rs 6 per share to resident Indian shareholders, the Company employee & financial institutions.
1980 - 108,61,000 Bonus shares issued in prop. 1:2.
1984 - On the night of December 2-3, an unprecedented accident occurred in the Company pesticides plant at Bhopal which resulted in the escape of Methyl Isocyanate into the atmosphere. Many people became victims of accident & suffered injured. The Bhopal plant remained closed since 3rd December 1984 under orders from the Government of Madhya Pradesh.
- The license for factory under the Factories Act 1948, expired on 31st December, & it was not renewed. The Comp. therefore closed down this plant effective from 11th July, 1985 under the provisions of Section 25[os] of Industrial Disputes Act, 1947.
1985 - Engineers India limited were appointed as Consultants to provide a techno-economic feasibility study on relocation at an economically enhanced capacity of 90,000 TPA of low density polyethylene.
- The Company extensive efforts to sell the undertaking to some public Units failed. Hence the Comp. was compelled to apply for closure of Chembur Unit on 16th April, 1987, under section 25[os] of Industrial Disputes Act 1947.
- The Comp. proposed to introduce in September for first time a superior heavy duty battery based on advanced zinc chloride technology which could be used in audio cassette photoflash and other high drain devices.
- A letter of intent was received for manufacture of 4 lakh cubic metres of speciality glasses & gas mixers based on helium, to be established in a backward area in Mahrashtra State.
1988 - Two fresh suits were filed in the courts in the State of Texas against Union Carbide Corporation, U.S.A. & UCIL. This was dismissed in February 1992 on grounds of forum non-convenience.
1990 - The Comp. received permission from Reserve Bank of India to engage in export of computer software & services.
- A new computer was installed & a dedicated computer communication link was established permitting continuous access to IBM mainframe located in U.S.A.
1992 - The UCC created an irrevocable truth called `The Bhopal Hospital Trust' during March. UCC also pledged & charged its entire share holding of 165,89,750 No. of Equity shares in UCIL in favour of trust.
1993 - A modernised facility for manufacturing R-20 paper jacket battery was installed in the Hyderabad plant.
- The Comp. entered into an agreement with SPIC Fine Chemicals Ltd., a joint venture promoted by Tamil Nadu Petro Products Ltd. & Henkal KGaA [Germanys] to sell their products throughout India.
- In December first product Henko; a premium detergent powder was launched.
- The Comp. has also entered into an agreement with Hindustan Latex limited for distribution of condoms under the brand name `Nirodh', as well as in new brands which will be owned by the Company.
1994 - The Comp. commenced the marketing of 'WONDER' brand of Alkaline batteries.
1995 - A joint venture Comp. in the name of Energiza India limited was formed in collaboration with Ralston Purina Overseas Battery Co. Inc. USA for development of alkaline battery in India. These battaries are being sold under the brand name 'Energizer'.
- The name of Comp. was changed from National Carbon Co. [Indias] Ltd., to Union Carbide India limited The name of the Comp. was again changed to Eveready Industries limited with effect from 24th April, 1995.
1996 - The Comp. launched TEZ brand of packet tea in the State of Rajasthan.
- The Comp. proposed to set up a state-of-the-art plastic processing unit for manufacturing components for captive consumption, industrial moulded products, as well as battery operated plastic appliances.
- The Comp. along with EBC [Indias] Comp. Private Limited, a subsidiary of Ralston Purina Overseas battery Co. Inc., U.S.A., set up a joint venture Comp. viz., Eveready Energizer Miniatures Pvt. Ltd., to promote the business of miniature batteries.
- Effective 1st April, MeLeod Russel [Indias] limited [MRILs] & Faith Investment Ltd., were merged with the Company. MRIL were allotted 2 equity shares of Comp. for every 3 equity shares of erstwhile MRIL. Accordingly 19,902,490 shares allotted. 16,295,153 No. of Equity shares of Comp. held by MRIL were cancelled.
- Nepal Battery Comp. limited & Natex Marketing limited are subsidiaries of Company. The Name was changed to Natex Investment and Marketing limited in 1995. Eveready Energizer Miniature limited is also a subsidiary of Company.
1997 - The Comp. launched its packet tea brands `Tez' & `Premium Gold' in five other states.
- The new state-of-the-art D size battery plant was set up at Noida, UP.
- The Company joint venture with EBC [Indias] Comp. Ltd., a wholly owned subsidiary of Ralston Purina Overseas Battery Comp. Inc. USA, for miniature batteries got off to a promising start with the first bulk shipments of watch batteries being sold to select dealers in the country. `Eveready GP' Rechargeable batteries for cellular phone were released in main cities throughout the country.
- On 11 December 1996 Eveready Industries & EBC [Indias] Private limited a fully-owned subsidiary of EBC, signed a joint venture to develop the miniature battery business in India.
- Eveready Industries Limited, a major player in dry battery which has recently embarked on marketing packaged tea, is now contemplating entering the food processing sector.
- Eveready Industries India Ltd., has constituted a three member committee to look into the affairs of company,
- EIIL & its joint venture partner Ralston Purina Overseas will set up an Energiser battery manufacturing unit near Chennai.
1998 - The Comp. was originally set up as United Carbon India and later renamed as Union Carbide India.
- The Comp. has set up a joint venture with Ralston Purina Overseas Battery Co USA which sells alkaline batteries under the Energizer brand name.
1999 - Eveready Industries limited the flagship of B M Khaitan-controlled Williamson Magor group, will launch its premium packet tea brand, Tez, in West Bengal & the whole of south India shortly.
- Eveready Industries [Indias] Ltd, the flagship of B M Khaitan-controlled Williamson Magor group, will set up a joint venture with Gold Peak Industries International Hongkong [GPIs], of Asian multinational group GP, with assets exceeding HK $6 billion, to form an assembly line for rechargeable batteries, which are mainly used by cellular phone consumers.
- Eveready Industries & Exide Industries are looking at setting up battery manufacturing units in Myanmar via joint ventures.
- Eveready Industries [Indias] limited [EILs] will soon be launching a new battery charger range which will be an improvement over its currently launched power bank charger.
- The Comp. has recently launched a brand of environment-friendly batteries, which are marketed with the punchline `Ray of Life'.
- With effect from April 1996, McLeod Russel was merged with its subsidiary -- Eveready Industries.
- Eveready Industries, the leader in the drycell battery industry, has a market share of about 43 per cent.
- In the batteries segment, EIL has just launched its `Lava' brand of dry cell batteries in the Bangladesh market.
2000 - Eveready Industries India limited has acquired yet another tea estate in the Dooars. - Eveready Industries India limited has introduced its rechargeable Nickel Cadmium Pencil [AAs] batteries in Chennai.
- Evereday Industries Ltd recently made a strategic move to have its packet tea brands launched under the banner of its newly-created greendale division.
- The Financial institutions have put shackles on the blanket resolution of Eveready Industries [Indias] limited to spin off its non-tea business into a separate entity as a precursor to induct a strategic partner.
- The Board of The Bisnauth Tea Comp. limited & Eveready Industries India limited approved a scheme of Amalgamation of Bisnauth with Eveready with retrospective effect from April 1.
- Eveready Industries has launched Eveready Big Lantern, specifically designed to suit tough conditions & long hours of use.
2001 - To Celebrate Valentines Day, Eveready Industries Luvlite, a unique tourch-cum-key chain.
- The Comp. has entered into agreements for sale of 4 tea estates in Darjeeling & 2 tea estates in the Dooars for a consideration of Rs 4491.51 lakhs in the aggregate.
- The Company, a Williamson Magor group company, would sell off its alkaline batteries business for sum of $1.5 million
- Eveready Industries limited has transferred its entire equity holding of 49 per cent in the joint venture Comp. Energizer India limited to EBC India Comp. Ltd.
2002
-Arun Kumar Bajoria has acquired a property in Delhi belonging to Eveready Industries Ltd for Rs 20 crore, through Hooghly Holdings, a 5,100 square meter realty at 23 Aurangzeb Road,Kolkata
-Stake increased by promoters in Eveready by 6.7%
-Raised nearly Rs 80 crore from the sale of tea gardens, with the recent agreement for sale of Romai Tea estate in Assam to Rossel Tea for Rs 13.91 crore
-Sold 3,30,000 equity shares of Rs.10/- each of Kilburn Chemicals Ltd by way of inter-se transfer of shares.
2003
-Offloads around 9% of its holding in Standard Batteries Ltd
-Approval to shift the entire facilities at Tiruvottiyur High Road to the Guindy site & integrate the same with the facilities existing there
2004
- Metals Centre Limited have acquired 3440812 shares representing 6.16% of voting rights of company
-Appoints the celebrated filmstar Mr. Amitabh Bachhan, as Brand Ambassador for 'Eveready' for Batteries & Flashlights for a period of 2 yrs
-Metals Centre Ltd has acquired 34,40,812 [6.16 per cents] equity shares of Eveready Industries India Ltd by scheme of amalgamation
2005
-Eveready rolls out NiMH rechargeable batteries
-Eveready Industries enters into MoU with BPL
-Eveready Ind acquires BPL Soft Energy System Ltd
2007
-Eveready Industries India Ltd has signed an agreement with Phoenix Lamps Ltd [Phoenixs] for sales & distribution in the country of latter general lighting lamps [GLLss] excluding automotive applications.
-Eveready Industries India has appointed Mr. Subir Dasgupta as Additional Director of Comp. with effect from May 11, 2007, subject to the approval of Members at a General Meeting.
-Eveready Industries India Ltd has has entered into a Memorandum of Understanding [MOUs] with Housing Development and Infrastructure Ltd, [HDILs] for transfer & / or assignment of its right, title & interest under a lease for land at Navi Mumbai, for residue unexpired period of lease, subject to necessary clearances, approvals & such like requirements at a consideration of Rs 115,00,000.
