Home  »  Company  »  Dharamsi Morarji Chemicals Company Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Dharamsi Morarji Chemicals Company Ltd. Company History and Annual Growth Details

YEAR EVENTS
1919 - The Company was incorporated at Mumbai. The company's product
range includes acids, heavy chemicals, superphosphate, fertilizer
mixture & other allied products. The company's products are
marketed under the trade name 'SHIP'.

1942 - 40,000 No. of equity shares subscribed. 12,617 shares
forfeitued.

1943 - Capital reduced by cancelling the paid-up capital to the extent
of Rs. 50 per share.

1960 - 18,225 Right shares offered at par in prop. 2:3. Only 18,093
shares taken up.

1961 - 18,190 Bonus shares issued in prop. 4:10.

1963 - The company formed in collaboration with Borax (Holdings) Ltd.,
London, a new company by the name of Borax Morarji Ltd., to
manufacture of Borax & Boric acid.

- 19,099 Right shares issued at par in prop. 3:10.

1964 - 27,588 Right shares issued at par in prop. 1:3.

1965 - The company in collaboration with Albright & Wilson Ltd., London,
Shri S.P. Pandit & Smt. Sharda Mukherjee, floated a new company
on 25th September under the name of Albright, Morarji & Pandit
Ltd., for manufacture of phosphoric acid & industrial phosphatic.

1966 - 11,035 Bonus shares issued in prop. 1:10.

1968 - In June, 24,277 Bonus shares issued in prop. 1:5, and in Sept.,
58,266 Right shares issued at par in prop. 2:5.

1969 - 50,982 Bonus Equity shares issued the prop. 1:4.

1973 - 2,54,913 Bonus Equity shares issued the prop. 1:1.

1975 - The Company shifted the plants manufacturing di-ethyl sulphate,
para amino phenol, sulphuric acid plant and aluminium sulphate
plant to Roha. Subsequently, benzene sulphonyl chloride and
thiophenol plants were shifted and commissioned in 1979.

- The Company promoted, jointly with the Madhya Pradesh State Agro
Industries Development Corporation Ltd. to implement a project
for the manufacture of granulated fertilisers.

1976 - 4,07,860 Bonus shares issued in prop. 4:5.

1979 - In May, with a view to further diversification, the company took
on lease for six years a factory at Baroda belonging to
Tolne-Chem Industries Pvt. Ltd., for the manufacture of
resorcinol, a chemical product used mainly by the tyre industry.

- 3,67,074 Bonus shares issued in prop. 2:5.

1980 - The capacity of single superphosphate plant was expanded at
Kumhari in phases from 95,000 to 1,61,000 tpa

1981 - In order to contain pollution caused by the manufacture of
superphosphate, facilities were set up to manufacture fluoride
chemicals and silica compound and commissioned.

- During 1981 to 1989, Turn-key projects & Consultancy services
division was busy in executing various contracts received from
reputed parties such as National Rayon Corporation, Ltd. Shaw
Wallace & Co., Ltd., Indian Rayon Corporation, Ltd. Hindustan
Zinc Ltd., etc.

1982 - Environmental Engineering division conducts studies on air
pollution and liquid effluents. And started taking turn-key
contracts for design and supply of effluent treatment plants.
Orders were received from Crompton Greaves Ltd., V.I.P.
Industries Ltd., Hindustan Aluminium Corporation Ltd., and Bombay
Dyeing & Manufacturing Co. Ltd.

1984 - Despite severe drought in the Company's major marketing zone of
Maharashtra, Gujarat and Western Madhya Pradesh, sales of single
superhosphate were maintained. The subsidy from Fertilizer
Industry Corporation Committee for use of Rajasthan State Mining
Development Corporation's Rock Phosphate was also terminated.

- The Company offered 4,80,000-15% non-convertible debentures of
Rs. 100 each as rights. These debentures were allotted in
February 1985 and are redeemable at a premium of 5% in February,
1992.

1986 - The single superphosphate plant was modernised and also expanded
from 2,00,000 tpa to 3,00,000 tpa.

- Equity shares sub-divided effective from 3rd June and authorised
capital increased.

1987 - The severe competition lead to a fall in prices. The profits
were lower than the previous year due to increase in
depreciation, higher interest charges and reduction in equated
freight on fertilisers reimbursed by Government.

1988 - Similarly, the capacity of sulphuric acid plant increased from
66,000 tpa to 1,01,900 tpa and that chloro-sulphonic acid plant
from 3,600 tpa to 16,500 tpa in July.

1989 - Single superphosphate with micro nurtient of boron known as
boronated superphosphate manufactured by the Company had been
notified as a fertiliser by the Government.

- The Company was in a position to take up project for large size
sulphuric acid plants in India and abroad.

- As on 31st March, the Company held 5,02,600 No. of equity shares
in Boraz Morarji Ltd.

1990 - The operations were adversely affected due to allround increase
in the cost of inputs, higher transport costs and enhanced
provision for depreciation as the Jhar factory became
operational.

- The Company commissioned at Jhar, district Amreli, Gujarat, a
sulphuric acid plant with a capacity of 33,000 tpa and a single
superphosphate plant with a capacity of 66,000 tpa.

- 25,69,520 Bonus shares issued in prop. 2:5.

1992 - The Company sold the Alpha Olefin sulphonate plant at Roha to
Albright Morarji and Pandit, Ltd. a company jointly promoted with
Albright & Wilson Ltd., London. During the year, the Company
commissioned sulphuric acid plant with a capacity of 3,000 mtrs
per annum at Roha.

- On 14th July, company issued 31,47,663 - 16% secured redeemable
partly convertible debentures of Rs. 40 each of which 29,97,774
debentures were offered on rights basis in the ratio of one
debenture for every three equity shares held (only 28,77,245
taken up). The balance 1,49,889 debentures along with 1,20,529
debentures not taken up by the shareholders were offered to the
employees/workers of the Company (all were taken up). Additional
2,99,777 debentures were allotted to retain oversubscription.

- As per terms of the issue, Rs. 20 of each debenture would be
converted into one equity shares of Rs. 10 each at a premium of
Rs. 10 per share at the end of six months from the date of
allotment. The balance Rs.20 of each debenture would be redeemed
at par at the end of 7 years from the date of allotment.

- The Company commissioned the bio-methanation plant based on
Bacardi Technology for Kopergao Sahakari Sakhar Karkhana Ltd.
During the year, the Company signed an export contract for supply
of equipments for a plant of 100 MTs per day capacity to
manufacture sulphuric acid and 50 MT per day capacity to
manufacture alum with Global Soap and Detergent Industries Ltd.,
Nigeria.

- 35,27,640 No. of equity shares allotted on part conversion of 16%
debentures (prem. Rs. 10 per share).

1993 - The company expanded chlorosulphoric acid plant.

- The Company also secured an assignment for preparation of a
feasibility report for GSFC in respect of a 50,000 tonnes per
annum capacity P 205 phosphoric acid plant in Uganda.

1994 - As on 31st March, the Company held 9,29,600 No. of equity share
in Albright, Morarji & Pandid Ltd.

- As on 31st March, the Company held 1,16,994 No. of equity shares
of Rs. 10 each in M.P. Agro-Morarji Fertilisers Ltd.

- The Company subscribed for 66,000 No. of equity shares of Rs. 10
each of Premier Morarji Chemical Co. Ltd. As on 31st March, the
Company held 49,500 shares in this Company.

2002-Dharamsi Morarji Chemical Company Ltd has informed that the Board of Directors of the Company at its meeting held on March 7, 2002 has appointed Mr C B Nalawalla as an additional Director.

2007

-Dharamsi Morarji Chemical Company has appointed Shri. Dilip P Goculdas as Managing Director (Agri Business) of the Company for a period of 2 years with effect from April 01, 2007.
 
Subscribe now to get personal finance updates in your inbox!