Restile Ceramics Ltd share Price

Restile Ceramics (RCL) was incorporated as a private limited company at Hyderabad in May`86 and was converted into a public limited company in Dec.`88. It was promoted by V Padmakar and P V L N Raju. Later, it was assisted by equity participation from APIDC and a technical-cum-financial collaboration by Mori, Italy. It manufactures vitrified unglazed and glazed ceramic floor and wall tiles and other ceramic products. RCL sells its products under the brand names Granamite and Mirrorstone. RCL went public in Dec.`91 to finance a part of the project to produce vitrified ceramic tiles at its plant in Medak, AP, with a capacity of 12,000 tpa. The company entered into a technical collaboration with Mori, Italy, for providing technical know-how, supplying major plant and machinery and assisting in erecting and installing the plant. At the time of going public, RCL had already commenced production of unpolished tiles and the polished tile capacity was expected to go on stream in Feb.`92 which, however, started only in Sep.`92. Commercial production of unglazed tiles commenced in Sep.`91. Till the end of March 1992, production of high value added mirror polished ceramic tiles commenced. The company executed trial export orders to the UK and west Asia. RCL exports its products to West Asia, Argentina, Australia and Singapore. It has also received order from the far east and some South American countries. The company has become sick and refferred to BIFR in the year 2000 and ICICI has been appointed as Operating Agency to formulate the Rehabilitation Scheme. In order to meet the changing market preferences,the company has imported equipment like Hydraulic Press,Horizontal Drier,Roller Kiln to facilitate the production of larger sizes and varieties of tiles upto 60cm*60cm. During 2001-02 the company commissioned Hydraulic Press,Horizontal Drier and the production were also commenced. Subsequent to this the installed capacity of ceramic Floor Tiles were increased to 14,00,000 SqM.