Hind Industries Ltd Company Summary

Hind Industries Ltd Summary

Incorporated as Gee Pee Kay Auto Enterprises Pvt Ltd in Jun.73, Hind Industries (HIL) was converted into a public limited company in Sep.91, and got its present name in Jun.93. HIL was initially promoted by Gulab Rai Kohli and his associates. The company is in the business of manufacture & export of fresh and frozen meat & meat products and has been able to explore a vast market in the Middle East and South East Asian Countries.HIL is an 100% EOU and a government-recognised Export House, exporting frozen foods to west Asia and east Asia. In Nov.93, it came out with a public issue of 20 lac equity shares at a premium of Rs 30 aggregating Rs 8 cr. The issue was made to part-finance the expansion of frozen foods capacity from 10,000 tpa to 15,000 tpa and to broadbase the export range by sourcing value-added fruits and marine products through the companys existing international network. The project was implemented in Aug.94. The company came out with a rights issue of 52,10,000 equity shares of Rs 10 each at a premium of Rs 10 per share in the ratio of 1:1, in Mar.96 for the purpose of modernising / debottlenecking its plant at Sahibabad, Uttar Pradesh, and investing in Hind Agro Industries. In 1995-96, the company increased the installed capacity from 15000 tpa to 25,000 tpa, at a total project cost of Rs 27.25 cr. The company financed the project by a term loan from IFCI amounting to Rs 19 cr and internal accruals amounting to Rs 8.25 cr.Hind Agro Industries Limited an subsidiary of the company which is 100% Export Oriented with Ultra Modern Integereted Abattoir-Cum-Meat Processing plant commissioned its operation in January 1998.