Triveni Glass Ltd Company Summary

Late Mr. D. N.

Agrawal in 1956, brought to India the first technology to manufacture laminated safety glass for automobiles. Thereafter, he added other products like tempered glass, mirrors, etc. In all these products, his group was the pioneer in India.

Due to shortage of sheet glass in India at that time, he had set up a vertical draw sheet glass plant at Allahabad (U.P) under a new company - Triveni Sheet Glass Works Limited, where Triveni Glass Limited, formerly known Triveni Sheet Glass Works Limited was incorporated in December, 1971. The name of the Company was changed to Triveni Glass Limited in February, 1998.Presently, the Company manufacture laminated safety glass for automobiles. TGL had the capacity to manufacture all types of flat glass - Float, Sheet (clear & tinted), Figured (clear & tinted), Reflective, Mirrors, Table Tops.

It has a technical collaboration with CMIEC, China, to manufacture float glass.The Company commenced their business in February, 1972 and started the first production in December, 1976. In October, 1994, the company came out with a public issue of 16.62 lac equity shares at a premium of Rs 90 for the Indian public and Rs 110 for NRIs; aggregating Rs 17.31 cr to part-finance the Rs 150crore project to set up a manufacturing facility for float glass in Allahabad. The Company having its works in Allahabad, Meerut and Rajahmundry.Due to accumulated losses and erosion of more than 50% of peak net worth of the Company during 1999-2000, the company has made a reference to the BIFR.

Due to paucity of funds the company could not take up the project for Reflective Coating Glass in 2000-2001 but the same was taken up in 2001-02 and trial runs for Reflective Coating Glass was started in June,2002.The Float Glass Plant resumed operations in October, 2004. The Company expanded the capacity of sheet glass to include almost all type of flat glasses including float glass, it established plants in Meerut and Rajahmundry as well. The Company has sold manufacturing unit situated at Rajahmundry, Andhra Pradesh on 23.02.2020 as a going concern and has taken the approval of shareholders through postal ballot on 22.03.2020 for the sale of Allahabad Closed Unit during the year 2026 to engage in the real estate sector.