Ceeta Industries Ltd - Stock Valuation and Financial Performance

Ceeta Industries is a publicly owned company managed and promoted by the Poddar Group, who has a rich experience in International trade for over 25 years. The granite division consists of an Integrated Plant for manufacture of Granite slabs, both random and cut-to-size, tiles and monuments and special profiles on CNC Machines. This unit which is strategically located 70 Kms, from the city of Bangalore and is only an hour’s drive from Bangalore International Airport. Moreover the Unit situated on the National highway No. 4 is in close proximity to the ports of Madras, Vizag, Mumbai, Cochin and Mangalore.

The company’s manpower strength is a total of 60 people which includes managerial staff, skilled and semi-skilled labor. The management is strict about meeting international standards in quality and corporate governance.

Milestones

1984

• The company was Incorporated on October 31, under the name of Ceeta Polymer Products Ltd., and obtained the Certificate of Commencement of Business on 6th November. Subsequently, the name of the company was changed to Ceeta Polymers Ltd. on August 12, 1986.
• It was promoted by K.M. Poddar, his friends and associates. Initially, the company had set up a unit for manufacture of synthetic woven fabrics at Balasore of Orissa.
• The company's object is to manufacture synthetic woven fabrics and crimped/air-texturised synthetic yarn.
• The company had signed a Memorandum of Agreement with Rajasthan Petro Synthetics Ltd. (RPSL), to pass on its expertise to manufacture crimped and air texturised yarn to the Company. As per the terms of agreement RPSL was to provide the necessary know-how, assist in selection of plant and machinery erection/ commissioning of the plant and impart trainings to the personnel of the Company for which no fees is payable.
• The company undertook to set up a unit to manufacture 2650 tpa of crimped yarn and 250 tpa of air texturised synthetic yarn by converting poly propylene partially oriented yarn (PP-POY) and fully drawn yarn (PP-POY) into bulk yarn at village Rohikhera in Udaipur District.

1991

• The main plant and machinery were procured indigenously. First phase of the unit was implemented and commenced production from February 15.
• 700 No. of equity shares of Rs.10 each allotted subscribers to the Memorandum and Articles of Association. 63,49,300 No. of equity shares of Rs.10 each were issued.

1993

• A 100% Export-Oriented granite Cutting and polishing unit at Dist. Tumkur, Karnataka is under implementation.

1995

• The company has diversified its activities by putting up a 100% E.O.U. Granite unit for manufacture of Granite tiles, slabs and monuments etc.
• The name of the company was changed to 'Ceeta Industries Ltd.' owing to its diversified activities.

2008

• The company was delisted from The Calcutta Stock Exchange Association Ltd (CSE) with effect from March 25, 2008.