NAVNEET PUBLICATIONS (INDIA) LIMITEd
Navneet Publications (India) Limited, founded by the Gala Family, is in the business of Educational, Children and General books Publication, Scholastic Paper and Non-Paper Stationery products. Over the years, the company has built a strong brand in Publications and Stationery and gained a leadership position.
Since 1959, Navneet has been a major force in the dissemination of knowledge. It is a dominant player in the field of publishing with more than 5,000 titles in English, Gujarati, Hindi, Marathi, Tamil, Urdu and other Indian and Foreign Languages.
Over the decades, Navneet has emerged as a preferred brand for Educational Products among teachers and students in India. The company's products are sold under the brand names of 'Navneet', 'Vikas', 'Gala', 'FfUuNn' and 'Boss'. It's portfolio of Educational based Books include high quality supplementary books like Digests (Guide), Workbooks, and 21 Most Likely Question Sets, most of which are published in five languages - English, Gujarati, Hindi, Marathi, and Urdu. The company has a dominant market share of about 65% in Western India.
In 1993, the company saw opportunities in the area of exports of Stationery products, for which it now has the state-of-art manufacturing facilities in Virar (near Mumbai), Guma, Dantali and Silvassa (Union Territories bordering Maharashtra and Gujarat). In the same year Navneet launched its paper stationery products for the domestic market. Product range includes tight bind note books, long books, hard case bound books and drawing books.
The company also publishes various titles in the Children and General books category, which are not based on Syllabus, such as Coloring and Activity Books, Board Books, Story Books and Books on Health & Hygiene, Art & Artist, Cooking, Mehendi, Embroidery etc.
The company enjoys leading position in premiere stationery markets in India, the Middle East, parts of Africa, U.S.A. and Europe. Now, with more than 500 Stock Keeping Units, Navneet is one of the largest paper stationery brand in India.
HISTORY OF NAVNEET PUBLICATIONS LimiTeD
The Company was incorporated on 18th September, and obtained the Certificate of Commencement of Business on 12th October, 1984. It was promoted by Jaisinh Kanji Sampat, Chatrabhuj Kanji Sampat and Dilip Chatrabhuj Sampat. The Company carried on business as printers, publishers of education books, newspapers, journals, etc. A new printing press was set up at Dantali in Gujarat incorporating latest printing technology and performing varied production functions like printing, binding, etc. 70 No. of equity shares subscribed for by Signatories to the Memorandum of Association. 4, 99, 930 No. of equity shares then issued at par of which 1, 99, 930 shares were reserved and allotted to promoters, directors, friends, etc. The remaining 3, 00, 000 shares were offered for public subscription during November 1984 (all were taken up).
1986: 12, 00, 000 Rights equity shares were offered at par in prop. 12:5 during January 1987 (all were taken up).
1991: The Company has changed its name from Bookwing Publications & Trading Co. Ltd. to Navneet Publications (India) Ltd. with effect from 22nd November.
1992: The Company has set up export division to export paper stationery products during the year. The Company installed computerized weighing system to check the wastage and effect corrective actions. One photo type setting machine, imported from USA was installed. The Company has entered into agreement with the publishers, acquiring license to publish more than 2000 titles.
1993: The Company was successfully implemented its expansion-cum-diversification project. The Company is setting up an additional unit at Daman for manufacturing paper stationery items and educational books involving a total project outlay of Rs 700 lakhs. 15, 00, 000 shares allotted at par to publishers and their nominees. 15, 52, 400 shares...
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