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    Kore Foods History

    BSE:500458  |  IND:Miscellaneous  |  ISIN code:INE601A01017  |  SECT:Miscellaneous

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    The Company History page lists out the major events in chronological order for Kore Foods Ltd.

    Company History - Kore Foods Ltd.
    The Company was Incorporated on 20th January,1983 under the name of Goa Optics Pvt. Ltd., as a private limited company. It was promoted by Photophones Ltd., together with Moorad Fazalbhoy, Abdullah Fazalbhoy, Indovest Holdings Pvt. Ltd., Alliance Consultancy Services Pvt. Ltd., and Gulmohr Trading Co. Pvt. Ltd.



    The Company's objects is to manufacture photographic cameras, photographic and cinematographic film laboratory and photo-finishing machinery, accessories and spares, audio-visual sound equipment and photo-sensitive material and chemicals.





    1984 - All shares held by promoters, directors, etc. Equity shares of

    Rs.100 each subdivided into shares of Rs.10 each from 8-2-1985.



    1985 - The name of the company was changed to Photophone Industries

    India Pvt. Ltd., on 8th February, and it became a public limited

    company on 27th March.



    - The Company established the following manufacturing lines at its

    plant located in Goa :-



    - (i) Photographic cameras with product base from Minolta Camera

    Co. Ltd., Japan and Goko Industrial Co. Ltd., Japan.



    - (ii) Photographic and cinematographic film laboratory and

    photo-finishing machinery, accessories and spares with product

    base from Gretag San Marco Spa of Italy, a subsidiary of Ciba

    Geigy Group, Switzerland and



    - (iii) audio-visual and sound equipment with product base from

    Hanimex, Ireland and through indigenous research and development

    activities.



    - The Company manufactures a complete range of 110 mm and 35 mm

    format cameras and they are marketed under the brand name of

    "HOT SHOT". A range of world class flash units are also

    offered. The company's product range also includes

    photo-sensitive materials such as PICCOLO film, paper and

    chemicals starting with 120 mm and 135 mm format black and white

    film, in addition to fine-grain and high-resolution 110 mm and

    135 mm format colour films. The product range was widened with

    the introduction of a sophisticated camera viz., MINOLTA

    Photophone AF-E.



    - 15,50,000 No. of equity shares issued at par of which the

    following shares were reserved for allotment:



    - (i) 3,50,000 shares to promoters, etc.,



    - (ii) 95,000 shares to employees of the company and



    - (iii) 24,000 shares to business associates of the company. All

    but 9,900 shares of the employees quota were not taken up. The

    balance 10,81,000 shares along with 9,900 shares not taken up by

    the employees were offered to the public in October.



    1987 - The Company launched the mini hot shot cameras. The Company

    entered the instant photographic business with the introduction

    of the "In a snap" system.



    - Three new models of cameras of contemporary design were

    introduced and the company developed the country's smallest size

    110 mm format camera for low end of the market. Konica brand of

    photographic colour paper offered in different finishes such as

    glossy, lustre and silk were received in the market.



    - In co-operation with Konica Corporation, the company introduced a

    new generation of processing chemicals called "Washless

    chemistry" that obviated the need for water in processing films

    and paper. Two new products viz., a portable overhead projector

    for education and training and a new model of an inexpensive

    35mm camera were introduced.



    - The Company installed instant photographic systems designed to

    use Polaroid films, in 89 towns.



    - The Company started new system of `franchised labs' using

    photophone's mini lab equipment with the facility to the

    franchisees to pay franchise fees over a period of time. 23 such

    franchised labs were established under the said system.



    - In association with Konica Corporation, the company introduced

    `Konica Square' a fully computerised franchised photofinishing

    lab. The Company proposed to establish around 100 such labs all

    over the country.



    - The Company proposed to enter into the opthalmic industry by

    investing in the equity capital of Sola Photophone Optical Pvt.

    Ltd., a new company established in July, for the manufacture of

    hard resin optical lenses. In this connection, the Company

    proposed to collaborate with Sola Organization, a part of the

    Pilkington Group, U.K.



    - During April-May, the company offered 5,00,000 - 13.5% fully

    convertible debentures of Rs.120 each for cash at par on rights

    basis in the prop. 1 debenture : 4 equity shares held (all were

    taken up).



    - Another 62,225 debentures were allotted to retain over

    subscription. In addition, the company offered 25,000 - 13.5%

    convertible debentures of Rs.120 each for cash at par to the

    employees (including Indian working directors) of the company and

    associate company (only 7,775 debentures were taken up). The

    unsubscribed portion was allowed to lapse.



    1988 - Rs.60 of the face value of each debenture was converted into 2

    equity shares of Rs.10 each at a prem. of Rs.20 per share on

    the expiry of 6 months from the date of allotment ie., on 1st

    February.



    - The remaining Rs.60 of the face value of each debenture was also

    converted into 2 equity shares of Rs.10 each at a prem. of Rs.20

    per share on 31st December.



    - 22,80,000 shares allotted (prem. Rs.20 per share) in conversion

    of 13.5% debs.



    1989 - The Company commenced export of "In-a-snap" system to Polaroid

    Corporation for distribution in overseas markets.



    - Photophone's `Konica Square' grew to 30 labs.



    - The Company received a COB licence for conversion of colour film

    at its Goa plant.



    1990 - The Company launched "Polaroid Studio Express", a new concept in

    documentary photography.



    - A Memorandum of Understanding was signed with Konica Corporation,

    Japan for the implementation of conversion of colour film

    project.



    1991 - A new product "Hot Shot Macro" was launched and in the area of

    instant photography, a unique glass coated plastic scratch

    resistant lens was developed by Polaroid Corporation to help

    achieve extremely good resolution without any increase in cost.



    - The Company decided to defer the project in view of the

    restriction on foreign exchange that made in different to finance

    the import of equipment for the Konica Film project.



    - The Company made an application to the Govt. for setting up a EOU

    to respond better to the needs of the international market.



    1992 - The Company offer 42,80,000 No. of equity shares of Rs.10 each at

    a prem. not exceeding Rs.5 per share on Rights basis in the

    prop. 1:1.



    - Another 2,14,000 shares of Rs.10 each at a prem. not exceeding

    Rs.5 per share were to be offered to the employees of the company

    on an equitable basis.



    1993 - 52,10,500 No. of equity shares allotted (Rights basis & to

    Polaroid Corporation U.S.A).



    1995 - Konica VX series of photographic films were successfully

    launched.



    1996 - During the last quarter of the year, the company launched

    "Country Club" nuts in select markets which was well accepted in

    the market.



    - Several new products including the Galaxy series of overhead

    projectors and LCD panels under the brand name `Phil Systems'

    were introduced.



    - The Company undertook to expand its activities by the

    establishment of additional manufacturing lines. The main

    projects in hand are (i) establishment of backward integration of

    conversion facilities for photographic paper, paper board, cloth

    and film with product-base from Mitsubishi Corporation of Japan,

    (ii) manufacture of large screen video projectors with

    product-base from Borco Electronic, Belgium and (iii) manufacture

    of photographic chemicals and printing and packing material

    through indigenous technology. It was also proposed to expand

    the production capacity of cameras to 2,50,000 nos. per annum.



    2003 - Shri Ramapati Singhania has resigned as a Director of the Company. Shri J F Alapatt has been nominated by IDBI as a "Nominee Director" on the Board with effect from September 03, 2003. At the said meeting Shri A. V. Gaikwad has been appointed as the Executive Director of the Company subject to the approval of the Central Government/Shareholders at the General Meeting as may be applicable. Shri A. V. Gaikwad will also continue to be the "Company Secretary" and "Compliance Officer" of the Company.



    2008



    -PHIL Corporation Ltd has designated E-mail ID for Investors Complaints -agaikwadphil@gmail.com



    2012



    -Mr. B. S. Sridhara has been appointed as the Managing Director of the Company



    2015

    - Company has changed its name from 'Phil Corporation Ltd.' to 'Kore Foods Ltd.'





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