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DCW Ltd. Company History and Annual Growth Details

1939 - The Company was incorporated at Dhrangadhra (Gujarat State). The
Company manufacture soda ash and other salts. The Company also
carries on the business of chemicals, drugs, essences, cordials,
acids, alkalies, pharmaceuticals, etc. Soda ash, soda bicarb and
calcium chloride are manufactured at Dhrangadhra and caustic soda
at Sahupuram. The products are sold under the trade name

1972 - Authorised capital increased. 54,180 Bonus Equity shares issued
in prop. 1:3.

1977 - Div. on 12,957-7.8% Pref. shares raised to 11% from 13.8.1976 and
made redeemable in 5 equal instalments starting from 13.8.1987.
2,592 Pref. shares redeemed.

1978 - Redeemed 2,592-11% Pref. shares in 1978-79, 2,591-11% Pref.
shares in 1979-80 and 2,591-11% Pref. shares in 1980-81.

1980 - Plastic Resins and Chemicals, Ltd. (PRCLTD), an erstwhile
subsidiary of the Company was amalgamated with the Company with
effect from 30th September, and PRCLTD had come to be known as
the PVC division of the Company.

- Pantape Magnetics, Ltd. (PML), manufacturers of magnetic tapes
at Nanjangud, Mysore, Karnataka became a sick unit and was
referred to the Appellate Authority for Industrial & Financial
Reconstruction (AAIFR).

- The ICICI proposed a scheme of amalgamation between the Company
and PML by which one preference share of Rs 25 each of CDW was to
be issued for every 25 shares held in PML by its shareholders.
Accordingly, 21,000 redeemable preference shares of Rs 25 each
were being issued to the shareholders PML.

1985 - 56-15% Pref. shares and 91 No. of equity shares issued without
payment in cash to the members of PRC, Ltd. on its merger.

1986 - Equity shares sub-divided in Mar. 1987. 4,69,730 rights equity
shares of Rs 10 each then issued (Prem. Rs 15 per share; prop.
1:5). Additional 1,17,432 shares allotted to retain
oversubscription. Another 23,486 shares (prem. Rs 15 per share)
offered to employees. Only 7,550 shares taken up. The balance
15,936 shares allowed to lapse.

1987 - The caustic soda division was affected by severe power cut and
fluctuations in voltage in Tamil Nadu. The Company undertook a
feasibility study to manufacture VCM through alcohol route.

- Necessary approvals were obtained to manufacture electronic
components, PVC and plastic based products.

- The Company's R&D division at Sahupuram undertook activities such
as higher purification of limenite ore and standardising the
bleaching parameter to make premium grade synthetic rutile.

- The Company issued 14% - secured non-convertible debentures of
Rs 250 lakhs to UTI, LIC, GIC and its subsidiaries on private
placement basis.

- The name of the Company was changed from Dhrangadhra Chemical
Works, Ltd. to DCW Ltd. with effect from 8th April.

- 29,43,362 bonus equity shares issued in prop. 1:1 and were
allotted on 1.11.1988.

1989 - The company privately placed with financial institution and banks
4,15,000-14% debentures of Rs 100/- each. These debentures are
redeemable at a premium of 5% from 1994 in various annual

- The Company acquired the entire shareholding of 20,00,000 No. of
equity shares of Rs 10/- each in DCW Home Products, Ltd. (DHPL)
making a wholly owned subsidiary. The popular products are
'Jaag', a detergent and 'Marvo', a free flowing salt.

1990 - The second boiler was commissioned. During the year the PVC
plant was modernised by installation of additional stainless
steel reactors and a modern energy efficient drier.

- The Company issued debentures aggregating Rs 3.50 crores on
private placement basis with financial institutions.

- 35,32,035 bonus equity shares issued in prop. 3:5 in December.

1991 - A new infusion plant was installed and commissioned as a part of
modernisation programme undertaken at the caustic soda unit.
Modernisation of the Beneficiated limenite unit was undertaken to
enhance the unit's capacity from 15,000 TPA to 25,000 TPA.

- At the PVC division, a new fluid bed drier was installed and
commissioned in addition to the installation of four new
stainless steel reactors.

- Approvals were received for the promotion of a new company by the
name of DCW Finance, Ltd., for carrying out the business of
financing, investments, leasing and other related business. The
Company proposed to make it its wholly owned subsidiary.

- 53,33,310 No. of equity shares issued in part conversion of 16.5%

1992 - During January, the Company offered 22,22,222-16.5% partly
convertible debentures of Rs 135 each on Rights basis in the
proportion 23 debentures: 100 No. of Equity shares held (all were
taken up). Additional 3,33,323 debentures were allotted to
retain oversubscription.

- Another 1,11,110-16.5% debentures were issued to employees on an
equitable basis (only 35,500 debentures taken up). The
unsubscribed portion of 75,6000 debentures were allotted to Stock
Holding Corporation of India AIC GIC Mutual Fund.

- Rs 90 of the face value of each debenture was to be converted
into two equity shares of Rs 10 each at a premium of Rs 35 per
share. Accordingly shares were allotted on 11th October.

- Balance of Rs 45 of the face value of each debentures was to be
redeemed at par at the end of 7 years from the date of allotment
of debentures. Necessary approvals were received for issue of
49,17,360 No. of equity shares of Rs 10 each for cash at a
premium of Rs 15 per share on Rights basis in the proportion 1:3.

- Another 9,83,500-14% secured redeemable non-convertible
debentures with detachable warrants were also to be issued on
Rights basis in the proportion 1 NCD: 15 No. of equity shares
held. The debentures are to be redeemed at par in one instalment
of Rs 100 each at the end of 5th year from the date of allotment
of NCDs.

- The Company undertook a project for the manufacture of 75,000
tonnes per annum of whole wheat flour at MIDC, Taloja,

1994 - The Company proposed to build a minor port next to Caustic Soda
division in Tamilnadu which would be utilised for creating a tank
farm on international lines for merchant sales apart from
Company's own needs.

- Another subsidiary Company DCW Power Corporation Ltd., entered
into a MOU with govt. of Madhya Pradesh and the Madhya Pradesh
Electricity Board for setting up a 120 MW Internal Combustion
residual oil fixed power generating plant at Mandideep in Madhya

- 92,25,000 shares allotted against GDR. 49,17,360 shares allotted
as rights.

1995 - The Company proposed to increase the PVC plant capacity from
60,000 tonnes to 1,00,000 tonnes per annum.

- In March, the first generator of 6MW was commissioned. Two more
generation of 6MW each were commissioned and one more was
commissioned in April. Two wind mills of 250 KW was installed
each at Poolavadi, Tamilnadu.

- The Company proposed to set up a commercial plant for
manufacturing Yellow Iron Oxide and an Acid Regeneration plant in
order to utilise the effluents from the upgraded limenite plant
as feed-stock.

1996 - The Company undertook to set up facility at its factory in
Sahupuram, Tamil Nadu for recovery ferrite grade iron oxide from
effluent of the beneficiated limenite plant.

- It was also proposed to manufacture soft ferriates depending on
the quality of iron oxide.

- The Company proposed to concentrate its efforts on its core
business activity viz., manufacture & sale of heavy chemicals &
petrochemicals, to separate companies in the group.

- It was proposed to transfer at book value the company's business
centre activity to a new company viz. DCW Estates Pvt. Ltd.
and the company's entire shareholding in DCW Home Products Ltd.
to another new company viz. Crescent Finstock Pvt. Ltd.

1999 - During the year the performance of the Company was adversely affected
due to the continuing global demand recession and generally adverse market

2000 - The Company issued 57,78,886 No. of equity shares of Rs.10/- each for cash at
par aggregating Rs.5,77,88,860/- on a Rights basis to the existing equity shareholders
of the company in the ratio of 1(one) equity share for every 5 (Five) equity shares held.

- The Company has entered into a strategic alliance with Hindustan Lever for
manufacture of detergents/detergent intermediates for HLL at DCW's plant at Dhrangadhra.

2002-DCW Ltd has informed BSE that Shri T S Ravikumar, Director and Secretary of the company has resigned from the service of the company with effect from November 15, 2002 and Shri C V Subramanian has joined the services of the company as Chief Financial Officer with effect from October 21, 2002.
Oct 26, 12:00 am
Oct 26, 4:14 pm
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