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Gujarat Alkalies & Chemicals Ltd. Company History and Annual Growth Details

YEAR EVENTS
1973 - The Company was Incorporated on 29th March, at Ahmedabad. The
Company entered into an agreement covering four contracts with
Friedrich Udhe GmbH, West Germany of the Hoechst Group for basic
engineering outside India, procurement and supply of the imported
machinery, performance warrants in respect of the plant, detailed
engineering in India, assistance in the procurement of indigenous
machinery and supervision over erection and commissioning. Udhe
were also to supply necessary drawings, technical manuals for
manufacturing process and give advice on technical matters
including guidance during testing and pre-operation of the plant.
The Company manufacture basic chemical products, caustic soda,
liquid chlorine and hydrochloric acid.

1975 - 25,50,000 Shares issued at par in June 1975; 1,00,000 shares
reserved for allotment to ICICI and 24,50,000 shares offered to
the public.

1977 - 17,00,000 Right shares issued at par in prop. 2:5 during
Sept./Oct. 1977. Only 13,85,549 shares taken up. The balance
3,14,451 shares alloted privately.

1984 - 15,00,000 shares allotted in part conversion of 13.5% debs. on
1.4.1984. 14,88,640 bonus shares issued in prop. 1:5 in March
1985.

1987 - 17,86,368 bonus shares allotted in prop. 1:5 on 29.12.1987. In
Feb. 1988, 64,30,925 Rights shares issued (prem. Rs 10 per share;
prop. 3:5). 6,43,093 additional shares allotted to retain
over-subscription, 3,38,470 No. of equity share issued (prem. Rs
10 per share) to employees (Only 1,12,550 shares taken up).

1988 - The Company commissioned a salt washery project to upgrade the
quality of salt available in the country and to reduce brine
purification cost.

- The Company made an application to the Government for a letter of
intent to put up a float glass project in the joint sector with
Modi's and Guardian of U.S.A. The Company signed a Memorandum of
Understanding with the Modi's.

1990 - The project for the manufacture of 21,780 tonnes per annum, of
electronic grade super dense soda ash was implemented. The
Company undertook to set up a project for the manufacture of
sodium hypochlorite. A caustic pre-concentration system was
commissioned in March in order to increase the capacity of the
caustic flaking unit from 50 tonnes to 80 tonnes per day. The
cold box unit project was commissioned in September.

- A letter of intent was received for the manufacture of technical
grade phosphine acid based on HCL route.

- The company was on the look-out for feed stock tie-ups for
implementing its letter of intent for manufacture 20,00 TPA of
SAS based on N-Paraffin as Feed stock.

1991 - The expansion of capacity of the chloromethanes plant from
10,560 MTA to 21,120 MTA at a cost of Rs 28 crores was
implemented during December.

- The Company undertook conversion of balance mercury cells to
membrane cells and thereby increase the capacity of caustic soda
from 400 TPD to 465 TPD. Manufacturing facilities for potassium
hydroxide and potassium carbonate based on membrane cells were
set up.

1992 - Conversion of mother liquor produced during manufacture of sodium
cyanide into sodium ferrocyanide was commissioned during January.

- The Company undertook to set up a 11,000 tpa hydrogen peroxide
project based on technology from Uhde GmbH, Germany. The Company
received a letter for putting up a grass root 350 TPD
Caustic-Chlorine plant in district Bharuch.

- The Company signed an MOU with Gujarat Mineral Development
Corporation for setting up a joint sector Alumina project based
on bauxite deposits in Kutch. The new Company viz. Gujarat
Alumina and Bauxite Ltd., was promoted in association with
Raytheon Engineers & Construction U.S.A.

- The R&D unit commissioned a plant for utilisation of waste sodium
cyanide plant for production of 100 tonnes of sodium
ferrocyanide. The Company also undertook to set up a pilot plant
facilities for the preparation of other chemicals starting from
methyl chloride, an import substitute product.

- The R&D unit undertook to develop new applications of Hydrogen
peroxide and preparation of high purity Hydrogen Peroxide. Also,
a process was developed at pilot plant scale level for synthesis
of Dimethyl Disulfide in a joint research work with IPCL.

1993 - A project for manufacture of 16,500 tpa of phosphoric acid based
on hydrochloric acid was under implementation at Dahej in Bharuch
District. This was commissioned in September 1995.

- 107,46,946 Rights equity shares issued (Prop. 3:5; Prem. Rs 90)
5000 shares kept inabeyance. 1,52,000 shares issued to employees
at a premium of Rs 90. (only 1,49,250 shares taken up). Another
73,200 shares to employees of GIIC. (Only 26,500 shares taken
up).

1995 - The Company joined as one of the promoters of Gujarat Chemical
Port Terminal Co. Ltd. and would have a 10% share in the equity
capital.

- The Company issued 67,28,000 warrants convertible into equal
number of equity shares at a price of Rs 136.50 per share.

- During April, the Company issued, 86,78,592 - 12% secured
redeemable partly convertible debentures of Rs 200 each on Rights
basis in proportion 3 debentures.: 10 equity shares held. Till
date 86,68,889 debentures were allotted.

- Part A of Rs 90 was converted into 1 equity share of Rs 10 each
at a premium of Rs 80 per share on 7th June, 1995. Part B of Rs
110 was to be redeemed at par in three annual installments of Rs
35, Rs 35 & 40 at the end of 5th, 6th and 7th year from the date
of allotment of debentures.

1996 - The Company commissioned new Hydrogen Peroxide plant on a closely
guarded technology availed from M/s. Uhde GmbH, Germany.

- The Company received letter of intent for setting up of 600 TPD
grass root caustic-chlorine plant in Bharuch District.

- The Company promoted Gujarat Industries Power Company Ltd. which
supplies more than 50% of the power requirement of the Company at
an economical rate.

- The Company decided to participate in the promotion of a new
Company by name `Gujarat Industries Power Co., Ltd.'. The other
promoters are Gujarat State Fertilizer Ltd., Gujarat Narmada
Valley Fertilisers Ltd., Petrofils Co-operatives Ltd., Heavy
Water Project of Government of India, Gujarat Electricity Board
and the Government of Gujarat.

- A new company viz. Gujarat Alumina and Bauxite Ltd. was promoted
in association with Gujarat Mineral Development Corporation Ltd.
and Raytheon Engineers & Contractors USA for setting up an
Alumina project based on Bauxite deposits of Kutch and
Saurashtra.

- Captive Co-generation 90 MW project is an integrated project
along with the 350 TPD Caustic Soda project at Dahej. It aimed
at providing self sufficiency in power which is a major input to
the electrolytic caustic soda process.

2000 - Credit Analysis & Research has downgraded the ratings assigned to the Rs 95.4
crore partly convertible debenture issue and the Rs 45 crore non-convertible
debenture issue of the company.

2002

-Appoints Mr P K Taneja as Managing Director of the company.

2003

-Appoints Mr A K Pradhan as the Government Director and Chairman of the company.

-Appoints Mr P K laheri as the Director & Chairman of the company.

-UTI Asset Management Company sells 921849 shares of the company in the secondary market.

2004

-Comes out with a rights issue of 2,75,41,966 Equity Shares of Rs.10/- each for cash at a premium of Rs.2.50 per share aggregating to Rs.3442.75 lacs, which opened on February 09, 2004 and closed on March 10, 2004. The ratio is 3:5 (3 right equity shares for every 5 shares held)

2007

-The State-owned Gujarat Alkalies and Chemicals Ltd (GACL) has secured the National Award for Excellence In Cost Management-2006, instituted by the Institute of Cost and Works Accountants of India (ICWAI).

2009

- Gujarat Alkalies & Chemicals Ltd has appointed Shri S Jagadeesan, IAS as a Director on the Board of Directors of the Company w.e.f. January 27, 2009.

- Gujarat Alkalies & Chemicals Ltd has informed BSE that Shri. Jayant Narayan Godbole has been appointed as an Independent Director on the Board of Directors of the Company w.e.f. March 04, 2009.

2011

-The Company has commissioned its new 14000 TPA Hydrogen Peroxide Plant (on 100% basis) at Dahej Complex.


2012

-The Company has recommended a Dividend of Rs.3/- per Equity Share (30% per equity share of Rs.10/- each fully paid-up.

-Gujarat Alkalies & Chemicals Ltd (GACL) has offered the dealers with online order booking of its caustic and other chemical products in order to bring transparency in pricing and efficiency in booking mechanism, said the media reports.

2013

-The Company has recommended a Dividend of Rs. 3.50 per Equity Share of Rs. 10/- each fully paid-up (35%) for the year ended March 31, 2013.

2014

-The Comapny received Safety Awards - 2013

-Gujarat Alkalies and Chemicals Ltd. has appointed Rajiv I. Modi, Chairman & Managing Director of Cadila Pharmaceuticals and Pallavi S. Shroff, Partner of M/s. Amarchand & Mangaldas & Suresh A. Shroff & Co., as Independent Directors of the Company.

2015
-Gujarat Alkalies signs deal with CSIR-IICT for hydrazine hydrate
-Guj. Alkalie & C Press Note on GACL's innovative step towards multi-model logistics
-GACL commences piped supply of products from Dahej plant
-GACL, NALCO inaugurates registered office of new JV Co

2016
-Gujarat Alkalies and Chemicals Ltd has "Updates on JV Project with NALCO".

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