EID Parry (India) Ltd Company History and Annual Growth Details
1975 - The Company was incorporated on 22nd September. The Manufacture
and sale of sugar, spirit, carbonic acid gas, ceramics,
chemicals, fertiliser mixtures, complex fertilisers, plant
protection products, animal feeds, processed seeds, distribution
of fertilisers, consumer and engineering products, assembling
of generating sets, export of marine and other products, etc.
1976 - The Scheme of Arrangement and Amalgamation by which all the
assets and liabilities of the Sterling Company, E.I.D. Parry,
Ltd., were vested in the Company as on 1st January became
effective on 18th June, 1976.
- The Company has a sugar factory at Nellikuppam, South Arcot
District, Tamil Nadu. Sugar is produced by the double
sulphitation process. The Distillery attached to the company's
sugar factory at Nellikuppam manufactures various kinds of
spirits required for industrial and medical purposes. The carbon
dioxide gas plant at Nellikuppam has a capacity of 10,000 pounds
of gas per day.
- The Company also owns chemical, pottery and fertiliser works at
Ranipet, North Arcot Dist., Chennai, where sulphuric, nitric
and hydrochloric acids epsom salts and sulphate of alumina
sanitaryware and a variety of potteryware are manufactured.
- The Ranipet Works manufactures fertiliser mixtures,
super-phosphate, insecticides and fungicides.
- Excepting for 63 Equity shares of Rs 10 each issued for cash, the
balance of the share capital both pref. and equity represents
shares issued for consideration other than cash, such shares
having been issued to shareholders of E.I.D. Parry, Ltd. in the
prop. of two 11% cumulative redeemable Pref. shares of Rs 10 each
fully paid-up for every 9% cumulative Pref. share of Pound 1 each
and two Equity shares of Rs 10 each fully paid-up in exchange for
every ordinary share of Pound 1 each in terms of the Scheme of
Arrangement and Amalgamation dated 3rd February, 1976 between
E.I.D. Parry, Ltd. and the Company. Pref. shares redeemable at
the Company's option after 10 years but before 15 years from the
date of allotment.
1977 - An agreement was entered into with Haldor Topsoe of Denmark for
the know-how and basic engineering for the revamping of the
Company's ammonia plant for the revamping of the Company's
ammonia plant for methanol production.
1981 - While sale of cattle feeds registered a marginal growth, offtake
in poultry farms was considerably reduced due to uneconomic
process and competition from the home mix.
1984 - Complicated requirements of the automobile and electrical
industries was developed but the operations resulted in a loss.
As the tool room division did not fit into the Company's other
activities, the unit was sold.
1985 - A new tunnel kiln as commissioned during the year. A new range
of 'Cascade' sanitaryware with emphasis on saving water, was
launched in selected areas.
1986 - Sales of fertiliser mixtures and superphosphate were adversely
affected due to unfavourable weather conditions and stiff
1987 - The sulphuric acid and phosphoric acid plants were commissioned
after modernisation. A proposal was on hand to modernise the
paramfos granulation plant. Modernisation work in the sugar
factory at Nellikuppam commenced and installation of a new boiler
was almost completed. Letter of intent was received to expand
the crushing capacity of the sugar plant at Nellikuppam to 5,000
tonnes of cane per day.
1988 - The Company developed in-house techniques for tissue culture of
- Government's permission was sought for the setting up of a new
unit at Karnataka to manufacture sugar and to set up a unit at
Nillikuppam to manufacture vinyl acetate monomer (VAM) using the
alcohol available from the distillery.
1990 - Operations were adversely affected due to labour unrest at the
sugar and fertiliser factories. Sugarcane crushed was lower due
to labour strike for a month in November/December.
- The Company undertook a scheme of rehabiliation/cum expansion to
increase the capacity of the factory to 4,000 TCD. The
Conversion of sulphuric acid plant to Double conversion Double
Absorption process was being set up at a cost of Rs 4.20 crores
- The Company acquired controlling interest in Falcon Gulf
Ceramics, Ltd., at Rajasthan to improve the market presence in
the Ceramics Industry. Government approved the import of design,
drawings and essential components for erection of a new shuttle
kiln and a tunnel kiln to replace the existing old kilns.
- Import of know-how from IFO Sanitar AB, Sweden, was also approved
for the manufacture of sophisticated sanitary-ware items
including specially designed water saving closet system. A new
shuttle kiln was commissioned.
- Production of phosphatic fertilisers at Ennore factory was
adversely affected due to strike by workmen for two months.
- A letter of intent was received to set up a VAM unit and the
Company was awaiting Tamil Nadu Government's policy on alcohol
before proceeding with the implementation of the project.
1991 - Two new products viz., 'Parrydon' and 'Angi' were added to the
1992 - The Company entered into a technical collaboration with
Trifolio-M Gmbh for production of 'Neemezal'.
- 50,000 - 14% Pref. shares redeemed. 4,12,017 No. of equity
shares of Rs 10 each allotted as per Scheme of Amalgamation of
Murugappa Electronics Ltd. with the Company.
1993 - New products viz., Acquarius range of products, slimline cistern
and wonderflush fittings were introduced. Dekalf Plant Genetics,
USA was launched.
- The Company offered 34,00,000-15% partly convertible debentures
of Rs 150 each on Rights basis in the proportion 5 debentures:
10 No. of equity shares held. (all were taken up).
- Another 1,70,000 debentures were issued to the employees on an
equitable basis (only 1,37,200 debentures taken up).
- Rs 70 of the face value of each debenture was to be converted
into 1 equity share of Rs 10 each at a premium of Rs 60 per share
on the date of allotment of debentures. Accordingly 35,37,200
share were allotted. Balance Rs 80 of the face value of each
debenture was to be redeemed in 3 instalments of Rs 25, Rs 25
and Rs 30 at the expiry of 7th, 8th and 9th year respectively
from the date of allotment of debentures.
1994 - Acquarius range of products were introduced. New products such
as Kitchen Sink and Bath Tubs were being introduced and during
the year, plans were afoot to double the units' capacity.
- The pilot plant for scale up work from the laboratory was
- The High Court of Chennai and Rajasthan vide orders dated 29th
July 1994 and 30th September 1994 sanctioned the scheme of
amalgamation of Falcon Gulf Ceramics Ltd. According the
erstwhile shareholders were issued 1,73,913 No. of equity shares
- During July, the Company offered 47,67,581 Global Depository
Receipts representing 47,67,581 ordinary shares at an issue price
of US $8.39 per GDR.
- 40,00,000 No. of equity shares were issued with warrants
entitling the holder to apply for nine equity shares per warrant
at the end of 18 months from the date of allotment.
2000 - The company have appointed Mr T.B. Subramanian, retired Chief General
Manager, IDBI, as a Nominee Director on te board.
- The Company proposal for amalgamation of its subsidiaries, Pettavaittalai
Sugars and Chemicals Ltd., Johnson Pedder Ltd., and Dhanyalakshmi
Investments Ltd., with this company with effect from 1st April.
- EID Parry Ltd, part of Murugappa Group, has launched a new website
www.eparryware.com to showcase its sanitaryware products being produced
under the brand name Parryware.
2001 - Crisil has reaffirmed the AA rating assigned to the various non-convertible debenture
programmes of EID Parry (India) Ltd.
-Acquires 22,50,000 equity shares of Rs.10 each in SanthanaLakshmi Investments Pvt Ltd, which has become subsidiary of EID.
-Invensys India Pvt Ltd finishes the performance based automation project at the Pudukkotai Sugar mill of the company.
-Board approves for the scheme of demerger whereby the company's farm inputs division comprising of Fertilizers & pesticides would be demerged into Coromandel Fertilizers Ltd.
-Lunches 'Experiencecentre' in Bangalore.
-Bags orders for installation of hands free integrated electronic flushing urinal system in schools.
-Diversifies into contract farming and branded marketing of rice.
-Mr R Seshasayee, Director resigns from the Board of the company.
-Company has informed that the Hob'ble High Courts of Judicature at Madras and Andhra Pradesh have sanctioned the Scheme of Arrangement for demerger of Farm Inputs Division of the Company to Coromandel Fertilisers Ltd (CFL) and the amalgamation of Parry & Company Ltd (P&CO) and Mofussil Warehousing and Trading Company Ltd (MWT), the companies wholly owned subsidiaries with the Company.
-Mr RS Nanda, has resigned as a Director of the Company.
-EID Parry contemplates on Nellikuppam plant sale
-EID Parry - Divestment of equity shares in Parry's Confectionery
-MR S.M. DATTA, former Chairman of Hindustan Lever Ltd, will take over as the Chairman of EID Parry (India) Ltd. The incumbent Chairman of the company, Mr M.V. Subbiah, has retired, on attaining the age of retirement. Mr Subbiah will also be relinquishing office from the other statutory board positions of the Murugappa group companies
-EID Parry (India) Ltd has informed that at the Board Meeting held on January 19, 2004, Mr. P. Rama Babu, Whole time Director has been redesignated as Managing Director
-Opens Annual Maintenance Contracts (AMCs) for bathrooms, first of its kind in the country
- EID Parry (India) Ltd's sanitary ware manufacturing plants at Ranipet, Alwar and Dewas have been given the ISO 14001: 1996 Environment Management system certifications by the British Standards Institute.
-E.I.D. Parry launches 'Parry's Pure Refined Sugar'.
-EID Parry acquires New Horizon Sugar Mills for Rs 50.20 crore
-EID Parry on December 08, 2006 has signed a Joint Venture Agreement (JV) with Cargill Asia Pacific Holdings PTE Ltd, (Cargill) a wholly owned subsidiary of Cargill International, consequent to which the parties have made an initial subscription to the share capital of Parrys Sugars Refineries Pvt Ltd.
- EID Parry India Ltd has informed that Mr. Sridhar Ganesh has been appointed as an Additional Director (Non Executive Non Independent Director) of the Company with effect from March 20, 2009.