AGI GREENPAC LIMITED

AGI Greenpac Limited (Formerly known as HSIL Limited) was incorporated in the year 1960 as Hindustan Twyfords Ltd by the Somany Family (Promoter Group) in collaboration with Twyfords Ltd, UK. In 1969, the company changed their name from Hindustan Twyfords Limited to Hindustan Sanitary ware & Industries Limited. Thereafter, the name was changed from Hindustan Sanitaryware & Industries Limited to HSIL Limited in March, 2009 and later in March 2022, the name changed from HSIL Limited to AGI Greenpac Limited. The Company is engaged in the business of manufacturing and selling of Container Glass bottles, PET bottles and Security Caps and Closures under Packaging Products segment. It mainly operates into four distinct business divisions, namely Building Products Division (BPD), Consumer Products Division (CPD), Retail division (RD) and Packaging Products Division (PPD). The company is headquartered in Gurgaon with four manufacturing units, one located in Bahadurgarh, Haryana, while the other three are located in Andhra Pradesh. The company also possesses six regional offices and 18 depots. Their subsidiaries include AGI Glasspack Ltd, Hindware Home Retail Pvt Ltd, HSIL Associates Ltd and Halis International Ltd. In year 1962, the company commissioned Sanitaryware Plant at Bahadurgarh. In the year 1981, the company diversified into the manufacture of glass containers through the acquisition of Associated Glass Industries Ltd. In the year 1989, they acquired Krishna Ceramics Ltd, manufacturers of Sanitaryware at Bibinagar in Andhra Pradesh. In the year 1999, they installed first state of the art open flame tunnel kiln from UK. In the year 1999, the company acquired Raasi Ceramics at Hyderabad to further strengthen their market share in the South India. In the year 2003, they signed a strategic partnership with Sanitec of Europe to bring in their largest selling European brand 'Keramag' to India. Also, during the year, the company received OHSAS 18001: 1999 certifications and in the year 2004, the company was awarded 'Business Superbrand' by the Super Brand Council. During the year 2004-05, the company introduced several new products and launched new colour shades to meet emerging demand. They launched the 'Hindware' faucets in select Indian locations. The company made a lateral extension by entering the kitchen segment by launching stainless steel kitchen sinks. In September 2004, the Container glass division installed a state-of-the-art, energy-efficient and environment-friendly furnace that has the capability to run production in all three colors - flint, amber and green. During the year 2005-06, the company introduced several new products in the 'Art' and 'Italian' Collection and entered into an outsourced manufacturing relationship for a European sanitaryware manufacturer. They increased the manufacturing of their Bibinagar plant by 50% to 18,000 tpa. During the year 2006-07, the company made their investment in two 1.25 MW windmills in Maharashtra. They signed strategic partnership with 'Teuco' the world leaders in Wellness Products to offer complete range of wellness products in India. They received 'Mera Brand Award' during the year. During the year 2007-08, the company through their subsidiary, Hindware Home Retail Pvt. Ltd., forayed into the retail sector. They launched Home Interior Fashion Mega stores providing speciality home interior solutions under the EVOK Brand. They opened their first EVOK store Faridabad, Haryana. In September 4, 2008, the company formed a wholly owned subsidiary company namely HSIL Associated Ltd in India and in January 14, 2009, they formed another wholly owned subsidiary company namely, Halis International Ltd in Mauritius. In the year 2009, the company set up second green field container glass factory at Bhongir, Andhra Pradesh with a production capacity of 425 tonnes per day. They opened their first brand store 'Hindware Lacasa' at Cochin. They opened their second brand store at Mumbai. Also, they opened EVOK stores at Gurgaon and Ghaziabad. In March 2009, the name of the company was changed to HSIL Ltd as the company is known and recognized by their abbreviated name 'HSIL' among the Company's numerous dealers, sub dealers, distributors, bankers, financial institutions and the ultimate users/consumers. In the year 2010, the company acquired the faucet business and operations of Havells India Ltd., makers of the Crabtree brand of bath fittings. Garden Polymers Private Ltd, (GPPL), a wholly owned subsidiary of the Company stood merged with the Company with effect from 1 April 2012, the appointed date fixed for the purpose in terms of the Scheme of Amalgamation approved by the Hon'ble High Court, Calcutta, vide Order dated 9 January 2014, Certified Copy of which was made over to the Company on 13 March 2014 and subsequently led with Registrar of Companies, West Bengal. Consequent upon this, all the assets and liabilities of GPPL became the assets and liabilities of the Company and accordingly given effect of the same in the financials of the Company. During the year 2015, the Company has issued 6,250,000 equity shares of Rs 2/- each at a premium of Rs 398/- to Qualified Institutions Buyers under Qualified Institutional Placement. During the year 2017, the Board of Directors in their meeting held on 10 August 2016 had approved the Composite Scheme of Arrangement under Sections 391 to 394 read with Sections 100-104 of the Companies Act, 1956 and/or applicable Sections of the Companies Act, 2013 between Hindware Home Retail Pvt. Ltd (the transferor) (wholly owned subsidiary) and the Company (the transferee) and their respective shareholders and creditors. The said scheme was approved by National Stock Exchange of India Ltd. and BSE Ltd. on 13 October 2016 and 14 October 2016 respectively and thereafter the Company has received an order dated 7 April 2017 from National Company Law Tribunal, Kolkata Bench, approving the said scheme. In accordance with the Said Order, the retail business of Hindware Home Retail Pvt. Ltd has been de-merged into the Company with effect from 1 April 2015 (Appointed Date). The Company's subsidiary, namely, QUEO Bathroom Innovations Ltd. was incorporated on 7 November 2016 in England as a step down subsidiary of HAAS International BV. In 2018-19, the Marketing and Distribution business of Consumer Products Division and Retail Division into a separate entity, Somany Home Innovation Limited (SHIL), and the Marketing and Distribution business of Building Products Division into a separate entity, Brilloca Limited was demerged into the Company each as a going concern from April 01, 2018 through the Composite Scheme of Arrangement. The Company commenced its commercial operation first phase small size caps and closure plant located at Packaging Products Division, at Isnapur, in Sangareddy Distt of Telangana with effect from 22 January 2018. During the year, Somany Home Innovation Limited and Luxxis Heating Solutions Pvt. Ltd. were incorporated on 28 September 2017 and 26 December 2017 respectively in India as wholly owned subsidiaries of HSIL Ltd. Further, Brilloca Ltd. was incorporated on 2 November 2017 in India as a wholly owned subsidiary of Somany Home Innovation Ltd (step down subsidiary of HSIL Ltd). During the year, KS 615 Ltd, wholly owned subsidiary of Haas International B.V has dissolved on 30 January 2018 and has ceased to be a step down subsidiary of HSIL Ltd.' The commissioned caps and closure plant scaled its capacity to 700+ million pieces annually during FY 2018-19. The Company started commercial production at the fully automated plastic pipes and fittings manufacturing plant in Telangana in August 2018. It launched Automate', India's first intelligent wall mounted closet with syphonic flushing and thereafter, launched vortex technology (splendor vortex) in water closets introducing a unique flushing mechanism. The Company sold the manufacturing business of the Building Products Division to Hindware Limited a wholly-owned subsidiary of Hindware Home Innovation Limited, on a slump sale basis in 2021-22. It The Company launched new products under Voila Closure tamper-proof categories for two litre, one litre and 750ml bottles. In 2023, the Company commenced commercial production of speciality glass facility set up at Bhongir in the state of Telangana with an installed capacity of 154 tonnes per day from January 2023. SuperCap and NipAce were launched as new products in 2023. Further, the Company commissioned a new Cullet Sorting Machine at Bhongir facility.