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Indian Extractions Ltd. Company History and Annual Growth Details

YEAR EVENTS
1956 - The Company was incorporated as a private limited company on 6th
February. It was promoted by Mr. S. B. Jhaveri of the Nanavati
group for setting up a solvent extraction plant at Jamnagar
with a capacity to process 50 tonnes of de-oiled cakes per day.
The Company manufacture refined solvent extracted groundnut oil.

- The Company has been exporting groundnut de-oiled cakes.
Domestically the Company sells its refined solvent extracted
ground nut oil, under the brand name 'Diamond'. The Company has
set up a factory at Vapi for manufacture of Nitro Chloro Anilines
with an installed capacity of 100 tpa.

1994 - 20,00,000 shares allotted for cash at par. 13,33,333 No. of
equity shares were then issued at a premium of Rs 20 per shares
during June 1994 as follows: (I) In firm allotment basis:
(i) 1,33,333 shares to promoters, their friends etc. (ii) 60,000
shares to Canbank Mutual Fund. (II) On preferential Allotment
basis: (i) 60,000 shares to Indian Mutual Fund (none were taken
up) (ii) 32,200 shares to permanent employees (only 18,100 shares
taken up). Balance 8,67,800 shares along with unsubscribed
portion of 74,100 shares was added to public offer (all were
taken up).

1996 - The Company has undertaken an expansion programme at Vapi
chemical division to increase the production capacity from 360
TPA to 540 TPA. The Alfa-Laval refinery at Jamnagar was
commissioned during the year.

1997 - The Company's Solvent Extraction plant at Jamnagar was shut down
for about 1 month on account of cyclonic effect. The plant
recommissioned production from 9th July 1998.

- The Company undertook a modernisation cum expansion of capacity
at its chemical plant. The capacity was being increased by
modifying the extraction chamber and increasing the capacities
of condensers and toasters.

- In addition, capacity refined oil was to be augmented by adding
boiler of adequate capacity.

2001 - The Company has informed that operations at its Jamnagar factory have been
temporarily suspended on account of the damage to the chimney caused by the
earthquake.
 
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