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Aarti Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1984 - Aarti Organics Limited was incorporated on 28th September, as a
private limited company and was converted into a public limited
company on 12th October 1990. The company belonged to Alchemic
Group of Companies promoted by Chandrakant V. Gogri, Rajendra V.
Gogri, Parimal H. Desai and Shantilal T. Shah. The main
objective of the company is to manufacture organic and inorganic
chemicals and allied products.

1986 - The company commenced its manufacturing activities at GIDC
Estate, Sarigam, District Valsad, Gujarat, to manufacture 1200
tons per annum of Nitro Chloro Benzenes, with financial
assistance from Gujarat State Financial Corporation.

1990 - The company implemented its expansion at GIDC Estate, Vapi,
District Valsad, Gujarat, to make up a total capacity of 4500
tons per annum of PNCB and ONCB. PNCB and ONCB are versatile
basic organic intermediates used in a variety of high growth
industries like agrochemical, pharmaceuticals, dyes and pigments,
and rubber chemicals.

- The Company undertook to set up a project for the manufacture of
2560 tpa of downstream products based on Para nitro chloro
benzene (PNCB) and Ortho nitro chloro beneze (ONCB) presently
manufactured by the company.

- All shares held by promoters, directors, etc. (including
14,50,000 shares allotted as bonus shares in prop. 1:1 on 9th
April). Original equity shares of Rs. 100 each were subdivided
into shares of Rs. 10 each during April-September 1989.

1992 - 8,70,000 shares issued (prem. Rs. 36 per share) of which 43,500
shares reserved and allotted on a preferential basis to the
employees, etc. The balance 8,26,500 shares were offered to the
public in Feb. Additional 1,30,500 shares allotted to retain
oversubscription (6,500 shares to employees, etc., and 1,24,000
shares to the public).

1997

-Formed by the merger of Aarti Organics and Salvigor Laboratories is one of the largest producers of chemical intermediates ortho nitro chloro benzene (ONCB) and para nitro chloro benzene (PNCB) and their downstream products

-1998

Achieved a sales turnover of Rs. 203.29 crore for the year ended March 1998 as against Rs. 170.67 crore in the previous year.


2000

-Enteres into an agreement with Central Depository Services (India) Ltd (CDSL) for admission of securities into CDSL. The SEBI has decided to add the name of the company for compulsory dematerialisation trading of the shares by institutional investors with effect from May 15 2000.

-The company, has proposed to acquire 15,31,100 No. of equity shares of AOL.

2001

-Ms. Hetal C Gogri has been appointed as the Additional Director and Wholetime Director of the Company.

-High Court of Gujarat has approved the petition and scheme of amalgamation of Alchemie Organics Ltd with Aarti Industries Ltd (AIL).

2002

-Decides to voluntarily delist the equity shares of the company from the ASE and DSE subject to approval by the shareholders of the company.

-Board consideres the following:

1) Consider and taken the note of withdrawal of Nominee Director Mr. Ravindra P Gokhale appointed by ICICI Ltd. 2) Consider and appointed Mr. Murlidhar R Mondkar as Additional Director of the company w.e.f. July 27, 2002.

-Makes an offer to Buy-back upto 13,00,950 fully paid up Equity Shares of Rs 10 each representing 10 % of the Issued, Subscribed and Paid up Equity Share Capital of the Company at Rs 39 per Share through Tender Offer.

2003

-Board appointes Mr. Rajendra V Gogri, Managing Director of the company as Vice Chairman and Managing Director of the Company.

-Accepted resignation of Shri Shantilal T Shah from the office of Joint Managing Director of the Company with effect from March 27, 2003 and appointed him as Vice Chairman (Non Executive) of the Company.

-Approves the voluntary delisting of shares from Ahmedabad, Delhi and Vadodara Stock Exchanges.

-Mrs. Indira M. Dedhia, Manager Taxation, has acquired/purchased 8241 Equity Shares of the Company having value exceeding Rs.5,00,000/- and she has been increased to 51757 Equity Shares of the Company as on September 25, 2003.

-Mr. Manoj M. Chheda, Wholetime Director has been decreased to 103290 Equity Shares of the Company as on October 08, 2003.

-Proposed to passed a resolution in respect of sale of Unit of the Company situated at Turbhe, New Mumbai for obtaining the shareholders approval/permission by postal ballot.

-Shri Shantilal T. Shah, Director has sold 24500 equity shares of the Company having value exceeding Rs.5,00,000/-.

-Aarti Industries Ltd. has informed that M/s. Templeton Asset Management (India) Pvt. Ltd. has acquired 6,19,025 Equity Shares of the company amounting to 5.10% under Franklin India Prima Fund (Scheme).

-Promoters of Aarti Industries Ltd have made sale of 3,47,226 equity shares of AIL, being 2.86% of the total paid up capital of AIL, during the period from October 10, 2003 till December 12, 2003

M/s. Templeton Asset Management (India) Pvt. Ltd. has acquired 6,19,025 Equity Shares of the company amounting to 5.10% under Franklin India Prima Fund (Scheme).

2004

-Securities of the company delisted from Delhi Stock Exchange and Ahmedabad Stock Exchange

-Aarti Industries delisted from Vadorara Stock Exchange

2005

-Aarti Industries Board withdraws Scheme of Amalgamation

2006

-Aarti Industries has appoineted Mr. Mohan P. Sonar as Compliance Officer of the Company with effect from November 01, 2006.

2007

-Aarti Industries Ltd has has re-appointed Mr. Rashesh C Gogri as Whole time Director of the Company for Next 5 years.

2009

- Aarti Industries Ltd has informed that the Board of Directors of the Company at its meeting held on July 30, 2009, has appointed Shri. Sunil M Dedhia as Independent Director of the Company.
 
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