Restile Ceramics Ltd Share Price

History of Restile Ceramics Ltd

Restile Ceramics Ltd (RCL) was incorporated as a private limited company at Hyderabad in May'86 and was converted into a public limited company in Dec.'88. The Company 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. The Company 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. The Company, being a pioneer in vitrified tile and in the business of flooring tiles since 1986 holds excellent reputation in the Industry as high quality producer. It is the only brand in Indian market to make 100% of its production as full body vitrified tile. Restile was launche ...d as manufacturers for Fully Vitrified Unglazed and Polished Monolithic floor tiles in smooth, rough as well as Mirror Polished finishes and commenced commercial production during 1991 with an initial installed capacity of 5,40,000 Sq.mtrs. per annum and subsequently enhanced to 21,00,000 Sq.mtrs at Hyderabad, Andhra Pradesh. 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. As the commercial production of unglazed tiles started in Sep.'91. Till the end of March 1992, production of high value added mirror polished ceramic tiles commenced. The Company became sick and refferred to BIFR in the year 2000 and ICICI was appointed as Operating Agency to formulate the Rehabilitation Scheme. In order to meet the changing market preferences, it 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. The Company completed the refurbishment works and balancing of existing lines undertaken during the year 2005-06. It enhanced capacity from the present 14 lakhs Sq. mtrs. to 35 lakhs Sq. mtrs. In 2008-09, it commenced commercial production of Line-l II project and capitalized an amount of Rs 50.55 Crores. The Company is in the process of amalgamation with Bell Granito Ceramica Limited.