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Bhansali Engineering Polymers Ltd. Company History and Annual Growth Details

YEAR EVENTS
The company was incorporated on 9th April, 1984 in the name of Bhansali Steels Limited and obtained the certificate of commencement of business on 16th May, 1984.

On 4th January, 1986, the company changed its name to Bhansali Engineering Polymers Ltd.

The main object was to implement the project for manufacture of Acrylonitrile Butadiene Styrene (ABS) Resins.

The project is being promoted by Sarvashri B M Bhansali and P R Bhansali in association with Madhya Pradesh Audyogik Vikas Nigam Limited (MPAVN), an industrial development corporation of the state government of Madhya Pradesh.

The Company has entered into Technical Collaboration Agreement with Sumitomo Chemical Engineering Company Limited (SCEC), through Sumitomo Nagautuck Company Ltd (SNKK), both belonging to Sumitomo Group of Japan.

2000

- The Company has entered into a Sale Agreement and pending its
completion entered into a separate Conducting Agreement with
Polychem Ltd. for its ABS/SAN Unit at Vadodara, for manufacture
of captive consumption as well as for sale.

2003

-The members approved the following in extra ordinary meeting
1. To Increase Authorized Share Capital of the Company from 170 million dividend into 1,70,00,000 equity shares of Rs 10/- each to Rs 200 million divided into 2,00,00,000 Equity Shares of Rs 10/- each by creation of 30,00,000 new equity shares of Rs 10/- each and consequent amendments to Clause V of the MOA of the Company.

2. Issue of 36,50,000 Equity Shares of Rs 10/- each for cash at a premium of Rs 90/- per share aggregating Rs 36,50,00,000 on preferential allotment basis to persons / entities including Bodies Corporate.


2004

-The Company has declared suspension of all the manufacturing activities at its Vadodara factory.

-Bhansali Engineering Polymers Ltd Commercial production at Company's Abu Road Unit (erstwhile RPRL Unit of Greaves Cotton Ltd, taken over by the Company on licence basis with an irrevocable right to acquire the same by way of purchase as a "going concern" on "as is where is" basis).

-Rationalised plant configuration and achieved 48 KTPA aggregate ABS manufacturing capacity based on exclusive HRG production at Satnoor plant and Bulk SAN and Compounding production at Abu Road.

-Initially taken over Greaves Ltd.’s RPRL Unit* at Abu Road under Licence and subsequently purchased it. *Capacity of RPRL Unit at 20 KTPA.

2006

-(i) Appointment of Mr. Jayesh B. Bhansali as an Additional Director of the Company.

(ii) Appointment of Mr. Jayesh B. Bhansali as a Whole Time Director of the Company designated as 'Executive Director'.

2009

-"Ms. Neha Lahoty has been appointed as Company Secretary of the Company.

2011

-Mr. Hasmukh Thakkar has been appointed as Chief Financial Officer of the Company.

2012

-Mr. B. M. Bhansali, Managing Director of the Company have been duly recognised by Institute of Economic Studies (IES) for his contribution towards Industrial growth and has been awarded "Udyog Rattan Award" and simultaneously the Company has been awarded "Excellence Award" considering aforesaid contribution.

2013
-Signing of Joint Venture Agreement of Company with Nippon A&L Inc., Japan.

2014
-Bhansali Engineering Polymers Ltd have recommended Final Dividend @ 10%.

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