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Diamines & Chemicals Ltd. Company History and Annual Growth Details

YEAR EVENTS
1976 - The Company was incorporated as a Public Limited Company on 12th
May, and it obtained the Certificate of Commencement of Business
on 16th July, from the Registrar of Companies, Gujarat at
Ahmedabad.

- The Company was jointly promoted by the Bharat Vijay Mills Ltd.,
Kalol (Gujarat) and Cellulose Products of India Ltd.

- The main objective of the company is to manufacture of
ethylenediamine and polamines such as diethylenetriamine,
triethlenetetramine and other polyethylene polyamines used
mainly for the manufacture of pesticides and fungicides,
textiles, auxiliaries, paints and adhesives, drug intermediates,
auxiliaries, paints and adhesives, drug intermediates, paper,
petroleum additives, rubber chemicals and plastics.

- 40,000 shares issued to promoters, directors, etc. 3,60,000
shares issued at par out of which the following shares were
reserved and allotted: 5,20,000 shares to The Bharat Vijay Mills
Ltd., and Cellulose Products of Indian Ltd., 50,000 shares each
to LIC and GIC and 70,000 shares to employees and business
associates of the two promoter companies. 6,70,000 shares
offered for public subscription during November 1979.

1983 - The company achieved an average capacity utilisation of 58% as
against 14% in the previous year.

- 4,48,000 rights equity shares issued at par in prop. 8:25 in

1985 - The profitability, however, was adversely affected due to factors
such as increase in the cost of inputs and higher downtime in
some of the initial equipment subject to corrosion, power
tripping, etc. The company installed a 500 KVA diesel generating
set.

1988 - A letter of intent was received from enhancement of
ethylenediamine capacity from 2,000 tpa to 5,000 tpa.

1989 - During the period, the company entered into a Co-promoters
Agreement with PICUP for Rifampicin Project of 100 tpa capacity.

1990 - The Company undertook implementation of phase-III of
modernisation-cum-expansion programme to expand the installed
capacity to 2,600 tpa.

- A Company in the name and style of Hindustran Biotech Ltd. (HBL),
was incorporated for setting up the said bulk drug project.

1991 - The company received offers from Grace Rexolin, Sweden (W.R.
Grace, U.S.A.) for the technology know-how for manufacture of
N-methyl piperazine (NMP), ammino methyl piperazine (AMP) and
N-ethyl piperazine (NEP), etc.

- The HBL unit was at an advanced stage for setting up the bulk
drugs project at Sikandrabad, U.P. PICUP sanctioned the necessary
loans for the same.

- During the year, the Company signed a Memorandum of Understanding
with the Gujarat Industrial Investment Corporation Ltd. (GIIC),
to set upan integrated chemical complex in the joint sector for
the manufacture of ethylenedichloride (EDC) in the backward area
of Gujarat State.

- The company issued 1,25,000-20% secured redeemable
non-convertible debentures of Rs. 100 each on private placement
basis with UTI (75,000 debentures) and LIC (50,000 debentures).

- The debenture issued to UTI are redeemable in three equal annual
instalments commencing from 7th February, 1997 and ending on 7th
February, 1999 and the debentures issued to LIC are redeemable in
three equal annual installments commencing from the February 1998
and ending on 7th February, 2000.

- 50,580 No. of equity shares of Rs. 10 each at a premium of Rs.
28.75 per share.

2010

- Diamines & Chemicals Ltd has appointed Mr. Girish R. Satarkar as an Executive Director w.e.f. April 13, 2010.

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