Value Industries Ltd

Promoted by the Dhoot family, the company is one of the leaders of the Videocon group. Commencing business with colour television sets in 1982, the company now manufactures and markets a wide range of products like light dimmers, solid state fan regulators, musical door bells/chimes, voltage stabilisers, emergency lamps and quartz clocks under the Rider brand name. The group's flagship company first went public in Oct.'87 and the issue was over-subscribed by 27 times. The group has wide ranging interest in trading, investment and manufacturing. Enthused by the market response for their products and acknowledging the need for indigenisation, the company undertook a major expansion-cum-diversification programme in 1989, to manufacture color TVs, B&W picture tubes, major electronic components and audio systems. Washing machines, refrigerators, airconditioners, vacuum cleaners, bread-making machines and motors, are the other items in their list of products. To raise capital for this diversification programme, the company visited the capital market once again in Sep.'91 with a debenture issue. The company has collaborations with two Japanese companies -- Matsushita and Toshiba. It is also the first company in the electronics industry to go for an Euro-issue. The $90-mln GDR issue attracted investor support from the UK, the US, Germany, France, Switzerland, Hongkong and Singapore. The company has installed New Capacitor Banks to improve the power factor resulting in reduction in energy consumption. The company is developing and planning to introduce more auotmated products and new models and varieties of washing machines with advanced features in the coming days.