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Andhra Sugars Ltd. Company History and Annual Growth Details

YEAR EVENTS
1947 - Incorporation in 1947 at Tanuka, Andhra Pradesh.

1966 - The Caustic Soda & Chlorine Plant achieved more than 100%
capacity utilisation.

1967 - On 15th February, 2,00,000 right equity shares issued at par in
the proportion 2:7.

1970 - 7,19,853 bonus equity shares issued in the prop. 4:5.

1972 - 4,05,183 Equity shares issued. 30,000 II Pref. shares allotted
on 5th October.

1973 - The caustic soda unit II with a capacity of 70 tonnes per day was
commissioned on 28th September.

1974 - 405183 Equity Shares issued.

- 12,14,910 bonus equity shares issued in prop. 3:5.

1976 - 1,05,660 equity shares issued at par to IFCI on conversion of
loans on 20.1.1976.

1978 - 1,06,000 equity shares issued on conversion of 20% of the loan by
the financial institutions.

1981 - 20,70,852 bonus equity shares issued in the prop. 3:5.

1983 - The Sugar & Chemical Machinary Division entered into an agreement
with Reva Enviro Systems (Pvt.) Ltd., Nagpur for Bicardi's waste
water treatment system and for the generation of methane from the
Company's distillery spent wash. Subsequently, a pollution
control-cum-energy saving project was taken up as per the
suggestions of the Pollution Control Board.

1984 - Due to acute shortage of alcohol in the State, the Company was
not allotted any alcohol. The plant was, therefore, shut down
from September 1994.

1985 - Subsequently With the availability of alcohol, the operations
(Acetic Acid plant) were restarted.

- The first barch of 500kgs. of propellant grade MMH was delivered
to ISRO.

1986 - The Company concluded an agreement with ONGC for supply of
natural gas for a quantity of 16,000 M [3] per day for Tanuku
plant and 6,000 M[3] per day for Kovvur plant for their boilers.

- The company was approved as a selling agent for marketing HEL-CES
Monitoring system.

- In November the Company issued 4,00,000 - 15% non-convertible
debentures of Rs. 100 each on private placement basis to UTI,
LIC, GIC and its subsidiaries. These debentures are redeemable
at a premium of 5% at the end, of 7th, 8th and 9th year.

1987 - The commercial plant for the manufacture of UDMH/MMH was set up.
ONGC commenced supply of natural gas to Tanuku units with effect
from 18th July. The industrial licence for the manufacture of
any higher capacity of 66,000 tonnes per annum of superphosphate
was approved. A letter of intent was received for the
manufacture of oleum 20% to a capacity of 3,300 tonnes per annum
within the existing licensed capacity of sulphuric acid.

1989 - The Company installed in June, two 2270 KVA 'SKODA' D. G. sets to
meet power shortage. The Company was also allotted 10 MW power by
A. P. Gas Power Corporation Ltd. (APGPCL) from its gas based
power project.

- In accordance with the suggestion by State Bank of India,
Hyderabad the operating agency of Board for Industrial & Finance
Reconstruction (BIFR) Jayalakshmi Cotton & Oil Products Ltd.
Guntur amalgamation with the company. BIFR's sanctioned the
agreement.

1990 - 55,22,272 bonus equity shares issued in prop. 1:1, 2,52,000
equity shares allotted without payment in cash to members of
Jayalakshmi Cotton & Oil Products Ltd, on its meger.

1991 - The Scheme of Amalgamation was approved by BIFR by its order
on 21st February. As per the Scheme, 2,52,000 equity shares of
Rs. 10 each of the Company were issued to members of JCOP in the
proportion of 2:5 shares of Rs. 10 of the Company for every
share of Rs 100 each held in JCOP.

1993 - 112,96,544 bonus equity shares allotted in ratio 1:1.

1994 - The Company received letter of intent from Government to set up a
2,500 TCD sugar plant at Buttayagudem in West Godavari district.

- The Company issued 45,20,000 non-convertible debentures of Rs 250
each along with detachable tradable warrants on right basis to
the existing shareholders.

1996 - The Caustic Soda & Chlorine Units achieved more than 100%
Capacity utilisation.

- A new chemical complex was being set up at Saygonda village for
manufacture of 33,000 TPA of caustic soda lye, 19,000 TPA of
chlorine, 10,000 tonnes of hydrochloric acid and 50 tonnes of
hydrogen gas per annum. Another sulphuric acid plant of 250 TPD
and chlorosulphonic acid plant of 100 TPD was also being set
up at the new chemical complex.

1997

-The second sugar factory of the Tanuku-based Andhra Sugars at Taduvai village in West Godavari district began commercial production. The factory was set up at a cost of Rs.60 crore with a crushing capacity of 2 500 tonnes a day.

- 45,20,000 equity shares (prem. Rs 25 per share) issued on converions of detachable trade warrents.

1998

-Crisil has downgraded the rating assigned to the non-convertible debenture issue of Andhra Sugars Ltd (ASL) from A+ to A-.

1999 - As in the previous season the Sugar Unit at Taduvai is entitled
for 100% Free Sugar sale.

- Performance of Chemical Units at Kovvur and Tanuku was
satisfactory. Sulphuric Acid Unit achieved more than 100%
capacity utilisation.

- The Company commenced work on Year 2000 (Y2k) compliance. The
effect of Y2K on Data processing Software, Hardware, Operating
Systems, Process Control Systems has been evaluated and the
systems likely to be affected are identified.

2002

-Life Insurance Corporation of India as on 31-Aug-2002 holds 22,73,444 equity shares amounting to 8.39% paid-up equity capital of the company.

2003

--Completes 55 years of existence without any strike or unrest by employees

-Offered Rs 36 crore for West Godavari Cooperative Sugars Ltd

2004

-Andhra Sugars Ltd (ASL) and Krebs Bio Chemicals (KBC) have entered into sale and purchase agreement with the loss-making co-operative units of West Godavari Cooperative Sugar Factory Ltd and NVR Cooperative Sugar Factory Ltd in Bhimadolu in West Godavari and Jampani in Guntur district
 
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