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Hikal Ltd. Company History and Annual Growth Details

1988 - The Company was incorporated on 8th July, with the objective of
carrying on the business of manufacture and marketing of
chemicals, intermediates, dyes, pharmaceuticals and pesticides.

- Hikal Chemical Industries Limited (HCIL), jointly promoted by
Surajmukhi Investment and Finance Limited, a wholly owned
subsidiary of Kalyani Steels Limited and the Hiremath family.

- The period from 1988 to 1991 was utilised in setting up the
manufacturing facilities at Mahad over land admeasuring 27004
square metres.

1990 - On 28th February, HCIL became a deemed public company under the
provisions of Section 43 A of the Companies Act, 1956, and a
fresh Certificate of Incorporation was obtained from the
Registrar of Companies.

- The Company also proposes to enter the business of agrochemicals,
more specifically pesticides, and commence production of
Metoxuron (used as a wheat herbicide) and Metamitron (used as a
sugar beet herbicide).

1991 - The Company has issued 1,50,000 shares of Rs.10/- each to
Hiremath Chemicals Limited in lieu of technical know-how and
engineering in the year.

- The Memoranum of Understanding (MOU) dated 3rd January, valid for
a period of 7 years, between Hikal Chemical Industries Ltd.
and Hiremath Chemicals Ltd. covers transfer of technology and
technical assistance for Meta chloro aniline, 3,4 DCNB and

1993 - In December, Sumitomo Corporation, Japan, one of the world's
largest trading houses, with assets of U.S. $ 46,402 million and
Net Income of U.S. $ 176 million acquired an equity stake in the
Company. Sumitomo has interests in commodities, industrial and
consumer goods.

- Hikal was the first chemical company in India in which Sumitomo
Corpn. has taken equity in 1993 with a 3.62% share.

- Agreement dated 30th September, entered into between the Company
and Mr. Jai. Hiremath on his appointment as the Managing Director
of the Company.

1994 - The Company subsequently became full fledged Public Limited
Company by passing a special resolution in the E.G.M. held on 7th
July. Revised certificate of incorporation has been obtained on
16th September.

- In order to part finance the expansion-cum-diversification
programme, the company had successfully made a public issue of
7,50,000 equity shares of Rs.10/- each at a premium of Rs. 40/-
in October. The public issue received over whelming response
from the investors and the offer made to the public was
oversubscribed by 21.48 times.

1995 - The company has successfully completed the expansion of the Meta
Chloro Aniline and Para Cumidine Plants.

- The company has also undertaken diversification in the field of
Agro Chemicals and has started production of Metoxuron and has
entered into a long term exclusive contract with Searle (India)

- The company issued 593926 bonus shares in the ratio of 1 equity
share for every 2 equity shares held in July by apitalising free
reserves of Rs. 59.39 lacs.

- The company issued 445722 equity shares of Rs. 10 each and 22500
equity shares of Rs. 10 each for cash at par on rights and
preferential basis respectively in July.

- New products will be introduced to improve the profitability
of the Company.

1996 - Metoxuron plant was successfully commissioned and after trial
runs commercial production commenced during March.

- The company maintained the highest standards of safety.
Effective effluent treatment plant & environment care were the
top priorities.

1997 - Hikal Chemicals Industries Limited is engaged in the production
of chemicals used by the pharmaceuticals, agro chemicals and
dye industries.

- The company has also launched Metoxuron a technical wheat
herbicide. For this product the company has entered into a
agreement with Searle India, which will buy it for a period of
five years.

- The company has issued 4,00,000 14% Non Convertible Cumulative
Redeemable Preference Shares of Rs. 100/- each on 28th October,
for 3 years to IDBI Bank Ltd.

- The company has allotted 14,66,700 equity shares of Rs. 10/-
each, at premium of Rs. 35/- on 26th December, to promoters &
Sumitomo Corporation, Japan on Preferential allotment basis.

1998 - The company has appointed a representative in England to
indentify our efforts to increase export.

- The company has entered into a 10 year agreement with Merck & Co.
Inc., U.S.A. for exclusive supply of Thiabendazole on 100% buy
back arrangement.

1999 - The promoters of Hikal Chemicals Industries Ltd (HCIL) and the
Kalyani group, through their subsidiary, are making an
unconditional cash open offer to all equity shareholders of
Hikal Chemicals Industries Ltd (HCIL) to purchase 50,300 shares
of Rs 10 each at Rs 45 per fully paid up share.

- Hikal is the only company in the world which manufactures TBZ and
the plant has been set up with the technical support of Merck &
Co Inc.

- Hikal is also in talks for joint ventures (outside Hikal) with
pharmaceutical and agrochemical multinationals (MNCs) where the
technology for new molecules would be transferred to the
venture by the MNC in exchange for equity.

- The company has undertaken several measures to improve the
profitability of the Mahad unit. The company has started
manufacturing and exporting Isoproturon, which is a forward
integration of its main product Para Cumidine. Mahad unit
received ISO 9000 certification.

2000 - Hikal Chemical Industries Ltd. has informed the BSE that it will
issue one bonus share for every one share held by its

- Hikal Chemical Industries Ltd. has changed its name to Hikal Ltd.
The Change of name reflects the company's intentions to diversify
into agro chemicals, pharmaceuticals, information technology and

- Hikal Chemical Industries Ltd., the only global producer of TBZ has been
awarded the 'British Safety Council' award for world class health, safety and
environmental standards at their Taloja plant near Mumbai.


-Appoints Mr Bimal Kishore Raizada as the Additional Director of the company.


-Board approves for the issue of Bonus shares.

-Signs agreement with US based pharmaceutical company to supply Gabapentin, a $2 billion anti-depressant that is going off patent.

-Enters into Long term supply agreement with a leading Corp protection company in USA for supply of new generation agrochemical.


-Hikal Limited has informed that the Company had applied for delisting of its securities from Ahmedabad Stock Exchange and Pune Stock Exchange. Pune Stock Exchange Ltd. has informed the exchange that it has approved company's request and the equity shares of Hikal Ltd. are delisted from Pune Stock Exchange Ltd. wef January 16, 2004.

-Hikal enters into long term agreement with Bayer CropScience AG

-Hikal acquires European Pharma Distributor Marsing & Co.

-Hikal takes over Danish co
Oct 21, 12:00 am
Oct 21, 4:14 pm
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