58888:hanun | IND:Others - Not Mentioned | ISIN code:INE648H01013 | SECT:General
The Company History page lists out the major events in chronological order for Hanung Toys & Textiles Ltd.
|Company History - Hanung Toys & Textiles Ltd.|
|The foundation of our business was laid with the formation of a Partnership Concern viz. "Toy Park (India)" by our Promoters in the year 1990 with the object of manufacturing and export of stuff toys. Subsequently, in the same year, the partnership concern entered into a Foreign Collaboration with "Hanung Industrial Co. Limited", a South Korean company. Consequently, the name of the partnership concern was changed to "Hanung Toys (India)". The agreement was for providing the technology for the manufacturing of stuff toys and allied products. The same was effective for 5 years and after the expiry of this period the technical know-how became the property of the partnership concern for full and free use.|
Simultaneously, on October 10, 1990, our Company was incorporated under the name of "Hanung Toys (India) Private Limited" under the Companies Act, 1956, with the Registration number 55-41722 having its registered office at 35, Govind Mohalla, Haiderpur, Delhi - 110 042. In 1993, our Company took over the business of "Hanung Toys (India)" as a going concern vide an Agreement of Takeover dated November 1, 1993 and carried on the business of the firm namely manufacturing of soft and stuff toys having the capacity of manufacturing 12 lakh pieces p.a. Consequently, the partnership concern was dissolved.
Subsequently, our Company was converted into a public limited company w.e.f. May 23, 1996 and pursuant to this, the name of our Company was changed to "Hanung Toys (India) Limited".
In the year 1997, we have increased our capacity to 110 lakh pieces p.a. which was financed through equity participation by our Promoters amounting to Rs. 45.00 lakh and Magnus Capital Corporation Limited, a body corporate registered in Mauritius to the tune of Rs. 99.90 lakh and also term loans from Financial Institutions/ Banks viz. PICUP and NSIC to the tune of Rs. 61.00 lakh and Rs. 43.97 lakh, respectively.
In 2005, we have entered into an agreement with The Walt Disney Company (India) Private Limited wherein we have been licenced to use some of the Disney Characters and Trademarks enabling us to increase the variety in our stuff toys range.
Also, as a part of our business integration strategy, we have acquired the business of two of the Promoter Group Companies viz. Hanung Furnishings Private Limited engaged in the business of manufacturing and marketing of home furnishings and Hanung Processors Private Limited engaged in the business of textile processing through a Slump Sale Arrangement w.e.f. from midnight October 29, 2005. Consequently, we have also changed the name of our Company to "Hanung Toys and Textiles Limited" w.e.f. January 9, 2006
In 2006, we have also entered into an agreement with Percept Picture Company Private Limited pursuant to which we have been granted certain pre-approved manufacturing and selling rights in respect of characters used in the animated motion picture "Hanuman"
In 2006, we also entered into two more agreements with The Walt Disney Company (India) Private Limited wherein we have been licenced to use some of the Disney Characters and Trademarks in relation to our home furnishing products.
1990-91: Incorporation of our Company as "Hanung Toys (India) Private Limited" on October 10, 1990 under the Companies Act, 1956
1993-94: Takeover of business from Hanung Toys (India) on a going concern basis vide an agreement dated November 1, 1993
1994-95: Sales touched the level of approximately RS. 500 lakh
1996-1997 : Investment by Magnus Capital Corporation Limited
Expansion of capacity to 110 lakh pieces p.a.
Conversion of Company into a Public Limited Company as "Hanung Toys (India) Limited" w.e.f. May 23, 1996
Sales crossed Rs. 1,000 lakh
1999-2000 : Sales reached the level of around RS. 3,000 lakh
2001-2002 : Sales Crossed Rs. 5,000 lakh
2004-2005 : Sales reached the level of Rs. 8,000 lakh
2005-2006 : Total income reached the level of Rs. 15000 lakh Qualified under European Standard on Safety of Toys EN-71 part 3: 1994 and amendment A1 : 2000 on May 17, 2005 Qualified under ASTM Standard Consumer Safety Specification for Toys on May 26, 2005 Qualified under Furniture and Furnishings (Fire) (Safety) Regulations, 1998-Amended 1989 and 1983 based on BS-5852 dated October 10, 2005
Agreements with The Walt Disney Company (India) Private Limited for using certain Disney Characters and Trademarks
Acquisition of the business of two of our Promoter Group Companies viz. Hanung Furnishings Private Limited and Hanung Processors Private Limited through a Slump Sale Arrangement Exit of Magnus Capital Corporation Limited through sale of its shareholding in our Company to a Promoter Group Company Abhinav International Private Limited Change of name to "Hanung Toys and Textiles Limited" w.e.f. January 9, 2006 Awarded Quality Certification of ISO 9001: 2000 by TUV GmbH, Germany Agreement with Percept Picture Company Private Limited for using all the characters used in the animation motion picture "Hanuman" Investment by Bennett, Coleman and Co. Limited of 5,00,000 Equity Shares at a price of Rs. 150/- per share
-Company has changed its name from Hanung Toys (India) Ltd. to Hanung Toys & Textiles Ltd. 2007
- Hanung Toys & Textiles secures Export Order for US $ 65 Million
-Hanung Toys & Textiles Ltd has signed export order tie-up with IKEA Sweden, for exporting soft toys / kids furnishing to the extent of EURO (€) 108 million (Rs 600 Crores).
- Hanung Toys & Textiles Ltd has informed that the Board of Directors of the Company at its meeting held on February 17, 2009, has appointed Mr. Chander Sekher Batra, Chartered Accountant as an Additional Director on the Board of the Company.
- Hanung Toys - Export Order Tie-up with a Leading US Buyer.
- The Board has recommended a dividend of Rs. 2.00 per equity share of Rs. 10/- each (20%).
- The Company has acquired a controlling stake in M/s Cody Direct Corp., a company incorporated under the US laws.
- Mr. Sanjeev Pandiya has been appointed as Chief Executive Officer of the Company.
- The Board has recommended a dividend of Rs 2.00 per equity share of Rs. 10/- each.
- The Board has considered and approved recommendation of equity dividend of 20% i.e. 2/- per share.
2013 -Hanung Toys & Textiles Ltd has recommended a payment of final dividend of Rs. 2.00 per equity shares of Rs. 10/- each i.e. 20%. -Hanung Toys & Textiles Ltd has informed that the Company has bagged an export order worth $ 60 million (about Rs. 360 Crore) from a leading US buyer.
2014 -Hanung Toys and Textiles Ltd has informed that Mr Umesh Dhal has been appointed as Chief Financial Officer of the Company w.e.f. May 19, 2014.
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