|1960 - The Company was Incorporated on 7th November 1960, at Chennai.
1961 - 4,00,000 shares subscribed for by directors, their friends, etc.
4,00,000 shares offered for public subscription in December 1960.
1971 - A new sugar factory with a daily crushing capacity of 1,500
tonnes of cane was set up at Siruguppa in Karnataka State. The
total investment on this project was around Rs 3.75 crores.
- 8,00,000 rights shares issued at par (prop. 1:1) in 1971-72.
1973 - This factory commenced crushing operations on 24th December.
1983 - The assets and liabilities of the Siruguppa unit were transferred
with effect from 1st October as a going concern to a wholly owned
1986 - The Company received a letter of intent for the manufacture of
polybutenes. Also, Government approval was awaited for the
manufacture of nitroaromatics, a product which has good demand
in the pharmaceutical industry.
1987 - The Company undertook to further modernise the sugar plant at
Kattur involving a capital expenditure of Rs 2.25 crores.
- Necessary steps were taken for the implementation of the
polybutene project. The Company entered into a technical
collaboration agreement with M/s. Cosden Technology Inc., U.S.A.
for technical know-how. Further, it also entered into a
technical tie up with M/s. Humphreys & Glasgow Consultants,
Mumbai, for the detailed engineering for setting up the project.
The estimated cost of the project was Rs 18.45 crores.
- The Company's investments in the subsidiary were disposed off in
1988 - 24,00,000 equity shares issued at par as rights in prop. 3:3.
Only 22,04,832 shares taken up. 5,55,168 shares allotted
privately (including permitted retention). Another 1,20,000
shares offered at part to employees (only 9,700 shares taken up).
The balance 1,10,300 shares allowed to lapse.
1989 - The Company implemented a project at Manali near chennai for
manufacture of 5,000 TPA of polybutene, a petrochemical product.
- The Company undertook to set up a PNCB/ONCB project at Karaikal,
Union territory of Pondicherry. The product finds application in
pharmaceutical and other varied uses. Foreign collaboration
agreement was entered into with M/s. Biazzi, Switzerland and
M/s. Krebskosmo, W. Germany. Detailed engineering work was
assigned to M/s. Humphreys & Glasgow Consultants Pvt. Ltd.,
1989-1991 - 2,173 tonnes and 3,626 tonnes of Polybutenes were produced
respectively. Very special grades of PIB such as K-VIS 90 and
K-VIS 200, introduced, were well received in the market.
1990 - The manufacture of 5,000 TPA of polybutene, a petrochemical
production plant was commissioned on 21st March, and commercial
production commenced in April 1990.
1991 - The Company undertook to set up a distillery unit at Kattur with
an installed annual capacity of 90 lakh litres of industrial
alcohol. This project was completed in 1992.
- The Company offered 1,85,000-16% secured redeemable partly
convertible debentures of Rs 700 each to the shareholders on
rights basis in the proportion of 1 debenture: 25 equity shares
held. All were taken up. Additional 27,750 debentures were
allotted to retain oversubscription.
1992 - Production improved to 4,442 tonnes despite unplanned shut down
of the MRL for 90 days. In addition, to KVIS 10 grade, the plant
also manufactures various grades for application in cable
jellies, 2-T oils, adhesives etc. Exports commenced and 147
tonnes of polybutene was exported mainly to Singapore apart from
- 54,21,250 equity shares allotted (prem. Rs 14 per share) in part
conversion of 16% debs. on 1.7.1992.
- PNCB/ONCB Project Commercial production commenced in April 1992.
- 3107 tonnes of PNCB/ONCB were produced 2543 tonnes were sold and
144 tonnes were exported.
- As per the terms of issue Rs 700/- out of Rs 600 per debenture
will be converted into 25 equity shares of Rs 10 each at a
premium of Rs 14 per share at the end of one year from the date
of allotment of debentures. Accordingly 54,21,250 shares were
allotted in 1st of July. The balance non-convertible portion of
Rs. 100 will be redeemed in three instalments at the end of 6th,
7th & 8th year from the date of allotment.
1993 - Production declined to 3,735 tonnes due to unplanned shutdown in
MRL during the earlier part of the year and also shifting of the
pattern of production towards higher molecular weight
polybutenes. Production of cable jelly compounds and leather
chemicals was also undertaken in small quantities.
- 48,95,475 equity shares issued as rights (prem. Rs 35 per share;
pro. 1:2). Only 47,11,204 shares taken up. 1,84,271 shares
allotted privately. Another 2,44,774 shares offered (prem.
Rs. 35 per share) to employees. Only 32,500 shares taken up.
The balance 2,12,274 shares allowed to lapse.
1994 - Polybutene unit's production amounted to 4,645 tonnes and 134
tonnes of cable jelly compounds. The nitroaromatics division
produced 6551 tonnes and 7049 tonnes of PNCB and ONCB
respectively. Production of nitric acid from the newly
amalgamated plant led to a production 2278 tonnes.
- Till 31st March, 42.95 lakh litres of industrial alcohol was
- Production of industrial alcohol amounted to 47 lakhs litres due
to modification of effluent treatment plant.
- The capacity at the Kattur factory was expanded to 2900 tonnes
capacity per day and it was proposed to be further expanded to
4000 TCD. Also, Karikkal Units capacity was to be expanded.
During the year, the Company undertook to set up a plant for
co-generation of power using high pressure boilers at Kattur and
this was expected to be commissioned by 1st January 1996. When
commenced the unit would produced 12 MW of power.
- Inorganics India Ltd. (IIL) was amalgamated with the Company
effective 1st April. As per this amalgamation, 1,95,279 equity
shares of Rs 10 each of the Company were to be issued to the
erstwhile shareholders of the amalgamation Company in the ratio
1:25 shares held.
1995 - The capacity of the Sugar Unit at Kattur was being expanded to
4,000 TCD. During the year the Company introduced an improved
sugarcane milling technology with the know-how provided by Amcane
of USA to improve the quality of sugar and to reduce the input
- Polybutene units production declined to 3,869 tonnes due to the
long shut down at MRL which hampered the production ability of
the plant. During the year nitroaromatics division achieved a
production of 8,628 tonnes of NCB. Production of nitric acid
improved to 9,085 tonnes.
- Production of industrial alcohol improved to 56 lakh litres.
During the year the unit successfully conducted a novel study
in collaboration with the Tamil Nadu Agricultural University to
make use of distillery effluent for irrigation purposes.
- The co-generation of power plant capacity of nitroaromatics was
expanded to 15,000 tonnes per annum. The Company also proposed
to enhance nitric acid production capacity to 24 tonnes per day.
The Company also setting up new plants such as cogeneration plant
at Kattur amination and hydrogenation facilities at Karaikal and
concentrated nitric acid plant at Hyderabad.
- 195,279 equity shares allotted to the shareholders of Inorganics
India Ltd. on amalgamation with the Company. Preference shares
issued during the year.
1996 - Of the two numbers of 6 MW turbines of co-gen plant, one turbine
was commissioned in December and started exporting power.
- Polybutenes unit achieved a record production of 5,401 tonnes.
Production would have been still higher but for the contrainst
in the availability of C4 feed stock. Nitroaromatics division
achieved a production of 11,434 tonnes of NCB. The company
commissioned downstream products namely amination and
hydrogenation for bringing out value added products. The nitric
acid unit achieved a record production of 12,858 tonnes.
- Production further increased to 68 lakh litres of Industrial
- Nitroaromatics plant capacity was expanded to 18 tonnes per day.
Steps were being taken to improve the feed stock availability at
Manali Polybutenea plant. Installation of third condensing
turbine at Kattur Sugar factory would further enhance generation
potential to 18 MW of power.
1997 - The 2 nos. MW Cogeneration Turbines were commissioned.
- The Chemical Division suffered a major setback due to shut down
of the plant on account of non supply of feed for the plant by
the sole supplier viz. Madras Refineries Ltd. Production at the
Nitroaromatics division was severely affected due to the rains
and cyclone in Karaikal which lead to corrosion of major
equipment resulting in non operation of the plant to its fully
2003- Mr. V R Deenadayalu and Mr. P N Devarajan have appointed as Directors of the Company.
- M/s R Subramanian & Co. has been appointed as Auditors of the Company in the place of M/s Fraser & Ross, who have resigned.