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Roofit Industries Ltd.

BSE: 526089 Sector: Industrials
NSE: ROOFITIND ISIN Code: INE743A01017
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Roofit Industries Ltd. (ROOFITIND) - Company History

Roofit Industries (Formerly Ratnagiri Building Products (RBPL)) was originally incorporated in Feb.'82 as a private limited company, Ratnagiri Asbestos Pvt Ltd. In 1986, the Motwani group acquired the controlling interest in the company from its erstwhile promoters N K Jain and S Ruia. It was converted into a public limited company and its name was changed to RBPL in Oct.'87. During 1997, company has changed its name to Roofit Industries. It manufactures specialised building material and value-added products such as fibre cement sheets, composite and PVC sheets, fibre glass water tanks, composite dust extractors, pressure pipes, pipe fittings and accessories. During 1998-99, the company also tookover the AC pipes division that belonged to the group company Sun Earth Ceramics. The company is also planning to introduce fibre reinforced sheets and glass reinforced water tanks to broaden its product basket. In the year 2000, it installed 3600 tpa of PVC sheets. It made a preferential allotment of 13 lac equity shares at a premium of Rs 75 per share and has declared a bonus issue in the ratio of 1:1. In Jan. 2001, the company acquired two overseas companies as part of its overseas spread plan. The company has picked up a controlling 51% stake in Monalc of Spain and 35% in Romania-based Sanex. The acquisition of equity stake in Sanex marks Roofit's entry into sanitaryware business. Monalc is also in the asbestos cement pipes and sheets business.