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BASF India Ltd. Company History and Annual Growth Details

1943

- The Company was incorporated in May under the name of R.A. Cole Ltd.
The Company Manufacture expandable and expanded polystyrene and
synthetic tanning agents. The products manufacture are styropor
(expandable polystyrene) thermocole (expanded polystyrene) and Basyntan
(Synthetic tanning agent).

- 70 No. of Equity shares of Rs 100 each were allotted to Mr. R.A Cole
in 1943 pursuant to an agreement when he sold the business to the
Company. Equity shares of Rs 100 each were subdivided into shares of
Rs 10 each on 26th December, 1967. The Capital of the Company stood at
Rs 22,50,000 divided into 2,25,000 No. of Equity shares of Rs 10 each
including 1,00,000 bonus shares issued in February 1967.

1963

- The name of Company was changed to Indoplast Ltd.

1967

- The name of Company was changed from Indoplast Ltd. to BASF India
Ltd. The Company has technical collaboration with Badische Anilin &
Soda-Fabric AG (BASF), West Germany.

- The Company has entered into an agreement with the National Research
Development Corporation of India (NRDC) who agreed to provide the
know-how developed by the Central Leather Research Institute for
certain synthetic tanning agents.

1968

- In Jan. 17,500 Pref. and 3,00,000 No. of Equity shares issued at par:
(i) 8,750 Pref. and 1,62,000 No. of Equity share to Foreign
Collaborators; (ii) 10,000 No. of Equity shares to Company's employees;
(iii) 8,750 Pref. and 1,10,500 No. of Equity shares to the public.

1976

- 1,75,000 Bonus Equity shares issued in prop. 1:3.

1979

- 7,00,000 Bonus Equity shares issued in prop. 1:1.

1980

- A new agrochemicals plant was set up at the Company's factory on the
Thane-Belapur road to manufacture 200 TPA of, 'Basatin', 135 TPA of
'Bavistin' and SOTPA of 'Calixin'.

- Other ongoing projects include installation of a spray dryer at
Bokaro, a new dryer at Bokaro, a new dryer for synthetic tanning agents
at Thane and development of raw materials required for pesticides
production leading to backward integration.

1982

- Issued 7,20,000 Rights Equity shares issued to BASF Ag., 7,00,000
shares to Indian shareholders in the prop. 1:1. and 20,000 shares to
the employees.

1988

- 14,20,000 bonus equity shares were issued in proportion 1:2.

1989

- A new fungicide, calixin, found its application in tea plantations to
control the wide spread blister blight disease.

- 9.5% Pref. shares redeemed on 1st February, 1990.

1990

- A new product 'Ankush' was introduced during the year.

- 21,30,000 bonus equity shares issued in prop. 1:2 in Jan. 1991.

1991

- The Company issued by private placement 3,00,000 - 14%
non-convertible debentures of Rs 100 each. These debentures are
redeemable at 5% premium on 10th April, 1988.

1992

- The plastics and fibre intermediates and leather chemicals business
as well as agrochemicals and colours and dispersion business rendered
significant increase in sales and profits.

- 31,95,000 bonus share issued in prop. 1:2.

1993

- The Company issued by private placement 1,50,000 - 15%
non-convertible debentures of Rs 100 each. These debentures are
redeemable at a premium of 5% on 13th March.

1994

- 19,17,000 rights equity shares were issued in the ratio of 1:5.

1995

- 2168 shares kept in abeyance issue.

1996

- A capital expenditure of Rs 140 million was incurred at Thane towards
plant modernization, expansion and augmentation of infrastructure
facilities. A range of eco-friendly Helizarin pigment products were
introduced.

- The Company made a rights issue of 46,00,800 No. of equity shares at
a premium of Rs 115 per share in the ratio of 2:5. Of which 250 shares
whose ownership was a matter of dispute was kept in abeyance based on
court orders.

1997

- The performance of the plastics business was adversely affected due
to cheap imports and depressed market conditions.

- This aggregated to Rs.57.51 crore in the ratio of two equity shares
for every five held in the company.

- In 1994, BASF was given permission to set up a 100 per cent
subsidiary in India. The company is a 50% subsidiary of BASF, Germany.

- In October, the company closed its Bokaro facilities manufacturing
tanning agents and leather chemicals. A voluntary retirement scheme
also helped in the cost reduction.

1998

- BASF has set up two plants at Mangalore to manufacture leather
chemicals and auxiliaries, specialised metal complex dyes, acrylic
polymers, oil and well chemicals. These units have added a capacity of
9900 mt to the 18,800 mt capacity of the company's Thane and Bokaro
units.

1999

- The company has five divisions -- leather chemicals, colours
dispersions, chemicals, plastics and crop protection chemicals.

- BASF has reached a basic agreement to acquire the global coil
coatings business of Norsk Hydro ASA, Norway (comprising the Hydro
Coatings Group UK), subject to approvals by the regulatory authorities.

- The company has entered into a tripartite agreement with CDSL and its
R&T agents, Tata Consultancy Services on November 16 to facilitate
investors to avail the services of both the depositories, i.e., NSDL
and CDSL

2000

- The Company's Mangalore unit has been awarded the ISO 9002 (1994) for
manufacture and supply of dyes and dispersions in August.

- BASF Aktiengesellschaft, Ludwingshafen, Germany, parent company of
BASF India Ltd and the Chatterjee Group, New York, have formed a
strategic alliance to manufacture and sell polystyrene in India.

- BASF India's parent company -- BASF AG -- has divested its textile
dyes operations to Dystar Gmbh with effect from October 1, 2000.

2002

- BASF India Ltd has informed that it has appointed Mr. S.Kuamarasamy,
Chief Executive, Crop Protection as an Alternate Director to Dr.
W.Praetorius with effect from January 18, 2002.

2003

-United Phosphorus Ltd enters into an agreement with M/s BASF whereby the business of Aciflorfen compound will be acquired by United Phosphorus

2004

-BASF India Ltd. approves the acquisition of Fipronil activities and assets from Bayer India Ltd.

2010

- Mr. Pradeep Chandan is appointed as a Company Secretary and Compliance Officer of the Company with effect from April 02, 2010.
 
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