1981 - The company was incorporated on 28th March, in Maharashtra as a private limited company and was converted into a public limited company on 1st December, 1988. It manufactures PVC Pipes and fittings. It was promoted by P.P. Chhabria and his associates. The company acquired a manufacturing plant at MIDC Chinchwad, Pune and started commercial production of PVC pipes in May 1981. 1983 - 3,67,650 shares issued without payment in cash to members of Finolex Plastics Pvt. Ltd. on its merger. 1987 - Letter of Intent was obtained for the manufacture of 1,00,000 tonnes per annum of PVC resin. - The Company entered into a technical collaboration agreement with Uhde GmbH, West Germany for licensing and technical know-how of Hoechst AGs process for manufacture of PVC resins and for provision of basic engineering. - 8,42,919 Rights shares issued at par in prop. 1.5:1. 1989 - With the public issue of equity shares in May, the Company offered 3,50,000-14% secured redeemable partly convertible debentures of Rs 300 each of which 17,500 debentures were offered on preferential basis to employees (including Indian working directors)/workers on an equitable basis (only 3,070 debentures taken up). 3,32,500 debentures together with the unsubscribed 14,430 debentures of the employees' quota were offered and allotted to the Indian Public. Additional 52,500 debentures were allotted to retain oversubscription. - Conversion of debentures was to take place at two stages viz., (a) A portion of Rs 50 of the face value of each debenture into 5 No. of equity shares at par (Part `A') at the end of 6 months from the date of allotment of the debentures and (b) a portion of Rs 100 of the face value of each debenture into 10 No. of equity shares of Rs 10 each at par at the end of the second year from the date of allotment of the debentures. The non-convertible part of Rs 150 of each debenture would be redeemed at par on the expiry of 9th year from the date of allotment of debentures. - 17,50,000 shares issued at par out of which 87,500 shares reserved for preferential allotment to employees, etc. but only 37,600 shares taken up. The balance 16,62,500 shares, along with 49,900 shares not taken up by employees, were offered to the public in May 1990. Additional 2,62,500 shares allotted to public to retain oversubscription. 55,11,093 bonus shares allotted in prop. 3.907:1 to shareholders prior to the public issue. - Company has effected an arrangement with LIC of India under group gratuity-cum-life assurance scheme so as to cover future payment of gratuity to retiring employees. 1990 - During September-October, the Company offered 27,36,667-14% secured redeemable convertible debentures of Rs 150 each of which the following debentures were reserved for allotment on a preferential basis: (i) 10,73,333 debentures to holders of 14% debentures issued in 1989; (ii) 10,40,000 debentures to shareholders of Finolex Cables, Ltd.; (iii) 6,66,667 debentures to NRIs on repatriation basis; (iv) 6,50,000 debentures to Financial Institutions/Mutual Funds and (v) 5,33,333 debentures to employees of the Company. - The unsubscribed portion of 10,35,799 debentures of the preferential quota was offered along with the public issue of 39,66,667 debentures. Additional 11,89,500 debentures were offered to retain over subscription. These debentures were allotted as follows: 90,68,934 on 30.11.90, 46,600 on 11.1.1991 and 3,966 on 23.2.1991. - Rs 60 of the face value of each debenture was compulsorily and automatically converted into 4 Equity shares of Rs 10 each at a premium of Rs 5 per share at the end of 18 months from the date of allotment of debentures. - The remaining Rs 90 of the face value of each debenture was to be redeemed at par on the expiry of 9 years from the date of allotment of debentures. - Simultaneous to the rights issue in September, the Company offered 82,00,000-14% secured redeemable non-convertible debentures of Rs 100 each on rights basis to the existing equity shareholders in the ratio of 75 non-convertible debentures for every 100 shares held. Only 46,661 debentures were taken up. Out of the balance 81,53,339 debentures, 78,39,095 debentures devolved on the underwriters. Allotment of 3,14,244 non-convertible debentures were kept in abeyance pursuant to Court orders. - As per the terms of issue, each debenture of Rs 100 will be redeemed in three equal instalments at a premium of 5% at the end of 6th, 7th and 8th year from the date of allotment. 1991 - 40,25,000 shares allotted at par on 2nd conversion of 14% convertible debentures. - To part finance its PVC Resin Project ("the project"). The company had made , during the year under review, right issue and public issue of 14% Secured Redeemable Convertible Debentures of Rs. 150/- each and 14% Secured Redeemable Non-convertible Debenture of Rs.100/- each vide Letter of Offer dated 8th September, 1990 and Prospectus dated 10th August, 1990. - The public and rights issues of Convertible Debentures were over-subscribed and the Company retained over-subscription to the extent of 15% of the issue size as permitted by the Controller of Capital Issues ("CCI"). The allotment of 1,21,61,917 Convertible Debentures was finalised in consultation with Pune Stock Exchange Limited. - The Company allotted 78,85,756 Non-Convertible Debentures. - The Company signed during the year under review loan agreements with the Industrial Credit & Investment Corporation of Inida Limited being Lead Financial Institution for DM 29.553 million and for Rs 859 lakh (equivalent to DM 9.990) for the Project. - The Company has signed Bridge Loan Agreement with industrial Development Bank of India for Rs 475 lakh which is due for repayment shortly. - Rs. 100/- of the face value of the each of 14% Secured Redeemable Convertible Debentures (1989 series) have been converted into 10 Equity Share of Rs. 10/- each at par on 10th July. - The non-convertible part of Rs. 150/- each of the aforesaid Debenture (1989 series) will be redeemed in full at par on the expiry of nine years (i.e. 10th July 1998) from the date of allotment of the Debentures. - Each of 14% Secured fully Convertible Debenture of Rs. 100/- each shall be converted into such number of Equity Share of Rs. 10/- each, credited as fully paid-up, as decided by the Controller of Capital Issue between 2nd and 4th years from the date of allotment of the said Debenture namely 30th January 1990. - Rs. 60/- out of the face value of Rs. 150/- each of 14% Secured Redeemable Convertible Debenture (1990 series) will be converted into four Equity Share of Rs. 10/- each at a premium of Rs. 5/- per share on 30th May, 1992. - The non-convertible part of Rs. 90/- each of the afore said Debenture (1990 series) will be redeemed in full at par on the expiry of nine years from the date of allotment of the Debenture (i.e. on 30th November, 1999). - 14% Secured Redeemable Convertible Debenture (1989 series ) and 14% Fully Convertible Debenture will be further secured by creating additional security as and by way of second and subservient mortgage and charge on the immovable and movable properties of the company and also such other properties which the company may acquire infuture in favour of the Trustees in such a manner and to such an extent as the Board of Director and the Trustees may agree upon. - 14% Secured Redeemable Convertible Debenture (1990 series) will be further secured by creating additional security as and by way of second and subservient mortgage and charge on the immovable and movable properties of the companies relating to its project for the manufacture of 1,00,000 tpa of Poly Vinyl Chloride (PVC) Resin and also on such other properties of the project which the company may acquire in future , in favour of the Trustees, in such a form and to such an extent as the Board of Directors and the Trustees may agree upon. - 14% Secured Redeemable Non-Convertible Debenture will be further secured by creating additional security by way of such a mortgage and charge on the immovable and movable properties of the companies relating to its project for the manufacture of 1,00,000 tpa of poly vinyl chloride (PVC) Resin and also on such other properties of the project which the company may acquire in future , in favour of the Trustee in such a form and to such an extent as the Board of Directors and the Trustees may agree upon. 1992 - The Ethylene di-chloride (EDC) and ethylene unloading arms of the open sea cryopgenic jetty with unloading of three chemical tankers carrying EDC and ethylene were commissioned. - During September/October, the Company offered 428,59,570 Rights equity shares of Rs 10 each for cash at a premium of Rs 30 per share in proportion 1:2. Additional 1,74,701 shares allotted to retain oversubscription. - Another 21,46,612 No. of equity shares issued to employees (only 49,400 shares taken up). Unsubscribed portion of 20,97,212 shares allotted to UTI (10,00,000 shares) and ICICI (10,97,212 shares). - Also 5,72,670 shares issued to ICICI, IDBI and IFCI. Of these 1,90,000 shares each were taken up by ICICI and IFCI. - 109,46,662 Equity Shares of Rs. 10/- each existing at the beginning of the year, and pro-rata on 40,25,000 No. of Equity Shares of Rs. 10/- each allotted pursuant to the second compulsory conversion, which took place on 10th July, 1991, of 14% Secured Redeemable Convertible Debentures issued by the Company to public in May 1989. - Non-Convertible Debentures (1990 Issue) for making the respective Debentures fully paid-up. Secured Fully Convertible Debentures (1989 Issue) and Secured Redeemable Convertible Debentures (1990 series) have been converted into Equity Shares of the Company on 1st April, 1992 and 30th May, 1992 respectively in terms of the concerned consent orders received from the Controller of Capital Issues (CCI). - The Company signed during the year under review an agreement with the Industrial Credit and Investment Corporation of India Limited and Industrial Finance Corporation of India for term loan of Rs. 500 lakh for the Project. - The Company proposes to issue 450,78,852 No. of Equity Shares of Rs. 10 each at a premium of Rs. 30 per Equity Share to its shareholders on rights basis, to its employees and to financial institutions - The Company has received technical know-how from the collaborators namely UHDE GmbH, Germany for the manfacture of PVC resin which project is under implementation. 1993 - Sales of pipes and fittings were affected due to prolonged transporter's strike in two consecutive months during the first half of the year and lower utilisations of production capacity. - The Company has successfully commissioned the ethylene di-chloride (EDC) and ethylene unloading arms of the open sea cryogenic jetty with unloading of three chemical tankers carrying EDC and ethylene. - During the year under review, the Company made an issue of equity shares in terms of the letter of offer dated 25th August, 1992. The issue of equity shares received an overwhelming response from the members of the Company and was oversubscribed. The allotment of equity shares was made on 1st December, 1992. - The Company has signed during the year under review a foreign currency loan agreement with The Industrial Credit and Investment Corporation of India Limited for term loan of Rs. 75 million under IBRD Pollution Control Project Line already sanctioned for the PVC resin project. - During the current year, a loan agreement has been also signed with Bank of Baroda, for a rupee term loan of Rs. 142.3 million for the PVC resin project in accordance with the means of finance approved by The Industrial Credit and Investment Corporation of India Limited. - The Company set up during the current year its own R&T centre at its registered office at Pune. - The Company has received technical know-how from the collaborators namely UHDE GmbH, Germany for the manufacture of PVC resin. 1994 - The entire PVC plant was commissioned. The Company undertook debottlenecking and balancing equipment programme to enhance the existing production capacity. - During September, the Company issued 40,000,000 warrants to the promoter group on preferential basis. The warrants were to be converted into equal number of shares of Rs 10 each at a premium of Rs 34.44 per share. Accordingly 178,07,850 warrants were converted into equity shares. - Finolex Polymers Ltd. is a subsidiary of the company. - The sales of pipes and fittings were affected principally due to prolonged transporters' strike in two consecutive months during first half of the year under review and lower utilisation of productive capacity as compared to the previous year. - The company has successfully launched its PVC resin on all India basis and the product has been well accepted by the market. - The company will be introducing the emulsion/paste grade PVC into the market. - The company will be launching during the year its new product developed inhouse, namely SWR pipes and fittings. - The company has been granted the highest category credit rating, namely P1 credit rating, by CRISIL for issue of commercial paper. The rating of P1 indicates that the degree of safety regarding timely payment on the instrument is very strong. " " (plus) sign for rating reflects a comparatively higher standing within the category. - The company has tied up with banks for working capital requirements of PVC resin division. 1995 - The entire PVC plant has got commissioned during the year under review. - The Company has undertaken debottlenecking and balancing equipment programme to enhance the existing production capacity. - The Company signed loan agreement with The Industrial Credit and Investment Corporation of India Limited to meet a part of the cost of constructing additional storage facility for feed stock on site, forming part of the expenditure to be incurred on debottlenecking and balancing equipment programme. - The Company signed an amicable agreement with the workers' union on 6th October, 1994 which is valid for a period of three and half years ending 31st March, 1998. - The non-convertible part of Rs. 150/- each of 14% Secured Redeemable Convertible Debentures (1989 Series) will be redeemed in full at par on the expiry of nine years from the date of allotment of the Debentures i.e. on 10th July, 1998. - The non-convertible part of Rs. 90/- each of 12,161,917-14% Secured Redeemable Convertible Debentures (1990 Series) will be redeemed in full at par on the expiry of nine years from the date of allotment of the Debentures i.e. on 30th November, 1999. - The non-convertible part of Rs. 90/- each of 95,757-14% Secured Redeemable Convertible Debentures (1990 Series) will be redeemed in full at par at the expiry of nine years from the date of allotment of the Debentures i.e. on 3rd September, 2001. - 14% Secured Redeemable Non-Convertible Debentures of Rs. 100/- each will be redeemed together with a redemption premium of Rs. 5/- per Debenture in three equal instalments at the expiry of 6th, 7th and 8th year from the date of allotment i.e., 30th November, 1996, 30th November, 1997 and 30th November, 1998 respectively. 1996 - The Company has introduced in the market five grades of suspension PVC and four grades of emulsion/paste PVC. - The Pipes Division of the Company has been granted Quality Systems Certification Licence as per IS/ISO 9002 by Bureau of Indian Standards, accredited by Raad Voor de Certificates, Netherlands. - R.D. Aga, Director of the Company then, passed away on 16th February. - In June, the Company allotted 1,145,340 equity shares to financial institutions, namely The Industrial Credit and Investment Corporation of India Limited, Industrial Development Bank of India and Industrial Finance Corporation of India Limited at a premium of Rs.5 per share, pursuant to the Conversion option exercised by them in respect of their rupee term loan. - In November, the Company redeemed (with proportionate premium) 1/3rd of the aggregate face value of 7,885,756 Non-Convertible Debentures of Rs. 100 each In accordance with the terms of their issue and allotment. 1997 - The Company has installed jumbo bags unloading and raw material transportation system. - In April, the Company signed loan agreement with Kredietbank N.V. for foreign currency loan of USD 9.6 million, with Ministry of Finance's approval under the External Commercial Borrowings ("ECB") guidelines. - The ECB facility has been set up in co-operation between Indusind Bank Limited and Kuedietbank N.V., Brussels - Belgium. - The Company has given donations, bought benches and done electrification of classrooms and flooring for schools in Ranpar and Ratnagiri. The Company has also given donation to the remand home and to Aawishkar, the spastic institution in Ratnagiri attending to children. - 367,650 No. of Equity Shares have been allotted for consideration other than in cash to the shareholders of the erstwhile Finolex Plastics Pvt. Ltd. pursuant to the scheme of amalgamation. - 5,511,093 Equity Shares have been issued as fully paid up Bonus Shares by capitalisation of General Reserve. - 2,012,500 No. of Equity Shares have been issued at par on 1st conversion of 14% Secured Redeemable Convertible Debentures (1989 Series) on 10th January, 1990. 1998 - LPG import and storage facilities set up by the Company have been successfully commissioned. - The Company has developed specialty fittings for large diameter pipes with elastomeric sealing ring joints. - During the period under review, the Company redeemed 1989 Series Debentures fully and paid the second instalment of Nonconvertible Debentures. - On 13th February, the Company signed the Agreement with National Securities Depository Limited dematerialising its equity shares for the benefit of its members. - During the period under review, Mr. M.P. Modi was nominated as a Director on the Board of Directors of the Company by Life Insurance Corporation of India. - The Company has planted more than 30,000 trees near PVC plant to maintain ecological balance. These trees are being grown on water treated in the effluent treatment plant of the Company. 1999 - The Company was honoured with the Mahratta Chamber of Commerce, Industries and Agriculture's prestigious Dr. R.J.Rathi 'Environmental Pollution Control' award for outstanding efforts in controlling pollution and protecting the environment at the plant. - The Company is setting up a PVC pipes plant of about 10,000 metric tons per annum capacity adjacent to its PVC plant. - The Company signed during the year under review Tripartite Agreement with Central Depository Services (India) Limited and MCS Limited for dematerialisation of equity shares. 2000 - Crisil has assigned an `AA-' rating to the proposed Rs 50-crore NCD issue and `P1 ' rating to the Rs 60 crore commercial paper programme of the company. - The Company's PVC plant at Ratnagiri has received a `Safety Award' from the National Safety Council, Maharashtra Chapter, for achieving the lowest accident frequency rate under the Chemicals and Fertilizers Industry Group, during 1999. - The Board of the company proposed to buyback 10 per cent of its shares at a price not exceeding Rs 40 per share. 2001 - The Company is introducing a stock option scheme for its employees. 2002 -Finolex Industries has acquired 13.39% of the company's paid up capital from the open market under the buyback scheme. -Finolex Industries has witnessed 56.69% increase in the net profit at Rs.59crs as against Rs.37crs. -Mr.K.N.Atmaramani has been co-opted as the Additional Director of the company. -The Board of Finolex Industries have approved for the expansion of installed capacity oc company's PVC plant at Ratnagiri by additional 130,000MT per annum. 2003 -Finolex Industries Ltd have informed BSE that the company is buying back its ordinary shares of Rs.10 each. -Finolex Industries is increasing its capacity to produce Polyvinyl Chloride Pipes (PVC) to 52000 tonne a year during the current fiscal. -Finolex Industries is investing Rs.500cr with a view of expanding its Ratnagiri facility. -Finolex infused Rs 23 cr to increase output and has added a new extrusion line at its Ratnagiri facility 2007 -Finolex Industries Ltd (FIL) is close to signing a agreement with Tishman Speyer India Ventures, a company engaged in real estate development, for the sale of its land in Chinchwad, near Pune, which currently houses one of its PVC pipe manufacturing facility. 2008 -Finolex Industries Ltd has recommended dividend @ 30%. 2009 -Mr P D Karandikar has been appointed as additional director of the company. -Finolex Industries Ltd has recommended dividend @ 10%. 2010 -Finolex Industries Ltd has recommended dividend @ 30%. -Mr. K Cherian Varghese has been appointed as additional director of the company. 2011 -Finolex Industries Ltd has recommended dividend @ 30%. -Mr. D. N. Damania has been appointed as additional director of the company. 2012 -Finolex Industries Ltd has recommended dividend @ 30%. 2013 -Finolex Industries Ltd has recommended dividend @ 55% (Rs. 5.50 per share) for the financial year 2012-2013 2014 -Finolex Industries Ltd has recommended dividend @ 70% (Rs. 7.00 per share) for the financial year 2013-2014 2015 -Finolex Industries bags 2nd prize for product presentation at the 20th IPC -Global CSR Excellence & Leadership Awards -Our Marathon for Breast Cancer Awareness Powered By Finolex Pipes -Finolex was awarded the Best Safety Practices Award -Revolo Launch at Finolex Industries 2017 - Finolex Industries Ltd. inaugurated our 5th Rehabilitation / Physiotherapy Center at the Finolex Colony, Ratnagiri. - Finolex Industries Ltd.organized a channel partner meet at the Hosur Nars Scheme, launching the CPVC Flowguard. 2018 -Finolex Industries Ltd was awarded Prestigious Pune Pride Award 2019 -Finolex Industries Ltd got Business Excellence Award in CSR Category' presented by Corporate Tycoon MMF and FIL 2020 -Finolex Industries Ltd was awared Yuva Unstoppable Gratitude Award 2020 MMF and FIL 2021 -Finolex Industries Ltd got World CSR Day Award. 2024 -THe Copmpany Signing of Share Purchase agreement for procurement of 8.36MW Solar Power under Group captive mode with Hinduja Renewables.