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Dharani Sugars & Chemicals Ltd. Company History and Annual Growth Details

YEAR EVENTS
1987 - The Company was incorporated on 4th June, in the State of
Tamil Nadu and the Certificate of Commencement of Business was
obtained on 24th August. It was promoted by Dr. Palani G.
Periasamy, a U.S. based non-resident Indian, R. Natarajan, Dr.
C. K. Dheenan.

- The Company has set up a plant with a capacity to crush 2500
tonnes p.a. at Naranapuran Village, Sivagi Taluk, Nellai
Kattabomman District, Tamil Nadu. One more plant with a cane
crushing capacity of 1250 TCD is situated at Orissa apart from a
30 KLPD distillery at Dharani Nagar.

1991 - In February the Company was invited by the Government of Orissa
to revive and run the 1250 TCD Nayagarh plant under management
contract for 12 years.

1992 - The company is planning to expand the crushing capacity at Unit
II in Nayagarh from 1250 TCD to 1700 TCD by balancing of
equipments.

1993 - The company has initiated steps to set up a 30 KLD distillery
plant at Dharani Nagar in Tamil Nadu consequent to the decontrol
of molasses.

1994 - The performance of the company suffered a set-back as the
availability of cane in the command area of both the units
steeply declined due to the drought for the second consecutive
year in Tamilnadu and diversion of cane to jaggery making at
Nayagarh in Orissa due to high price of jaggery.

- The Company have also installed the most modern and efficient
Effluent Treatment Plant which has been commissioned.

- The company has received a Letter of Intent to set up a 2500 TCD
Sugar Factory in Polur Taluk of Thiruvannamalai-Sambuvarayar
District in Tamilnadu.

- The Company proposes to arise additional capital through
Rights/Public Issue of shares and other instruments for its
proposed projects.

- High pressure boilers with centralised Microprocessor Control
System and various other equipments have been installed for
conservation of energy.

- 909 equity shares subscribed for signatories to Memorandum &
Articles of Association. 84,50,000 equity shares of Rs 10 each
were issued in December 1988 of which 33,70,000 shares and
13,80,000 shares were reserved for allotment on a firm basis to
NRIs and Indian resident directors, their friends etc.
respectively.

- Of the balance 4,22,500 shares were reserved for allotment on a
preferential basis to employees (only 12,000 shares taken up).
Remaining 32,77,500 shares along with 4,10,500 shares not taken
up by employees were issued to the public. Additional 5,48,900
shares were allotted to retain oversubscription.

1995 - The 2500 TCD modern Sugar plant with a 15 MW Multifuel
Co-generation facility is being set up on warfooting.

1996 - The polur plant was commissioned in July.

- The Company offered 179,99,618 Rights equity shares of Rs 10 each
for cash at a premium of Rs 9 per share in proportion 2:1
(163,90,037 shares taken up till date), 16,09,581 shares remained
unissued.

- In terms of crushing capacity, the Company is ranked among the
top few such Companies in the State of Tamil Nadu.

1997 - Total quantity of cane crushed further declined to 81 thousand
tonnes. Crushing was affected badly due to severe drough in and
around Tiruneivili District.

- The company planed to expand the capacity of Polur Unit from
2500 to 5000 TCD.

- The company has got the letter of intent for setting up a sugar
plant at Sankarapuram in Villupuram Ramasamy Padaychiar district
in Tamil Nadu.

- A freak accident occurred at the Mumbai port which has upsetted
the performance of Dharani Sugars and Chemicals for the year
1996-97.

- The Polur plant was temporarily closed as the cane arrears
problem peaked.

- The company has got the letter of intent for setting up a sugar
plant at Sankarapuram in Villupuram Ramasamy Padaychiar district
in Tamil Nadu.

1998 - Dharani Sugars commissioned its 2,500 tcd factory at Polur in
Tiruvannamalai Sembuvarayar district.

1999 - NRI Promoters of the Rs 125-crore Dharani Sugars And Chemicals
Ltd has proposed to increase their equity holding in the company
by acquiring shares through secondary market.

- Dharani Sugars has two plants in Tamil Nadu with a total crushing
capacity of 5000 tonnes per day. Last year, the company
terminated its management contract for Nayagarh plant with the
Orissa government.

2000 - No news.


2007

-Dharani Sugars & Chemicals Ltd has informed that Mr. M Ramalingam, Executive Director has been promoted as Managing Director (MD) with effect from April 01, 2007. The appointment is subject to approval from the Shareholders in the next Annual General Meeting.