Home  »  Company  »  NOCIL Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

NOCIL Ltd. Company History and Annual Growth Details

YEAR EVENTS
1961 - The Company was incorporated on 11th May, at Mumbai. The Company
manufacture various organic and inorganic chemicals.

1964 - The Company entered into technical collaboration agreements with
the Royal Dutch/Shell Group of Companies and Universal Oil
Products Co., U.S.A. Engineering agreements were also signed with
Bataafse Internatioinale Chemie Matschappij N. V., Netherlands,
Stone and Webster Engineering Corporation U.S.A.

1965 - 4,00,000 shares subscribed for by foreign collaborators. The
Shell Petroleum Co., Ltd., in equivalent pound sterling.
3,39,899 shares subscribed for by Mafatlal Group, their
associates, friends, employees etc. 4,60,000 shares offered at
par to the public during Febraury, 1966.

1967 - Shares fully called-up. 381 shares forfeited.

1969 - 381 forefeited shares reissued.

1975 - 6,00,000 Bonus shares issued in prop. 1:2.

1979 - The Company set up a project for the manufacture of 1,100 TPA of
technical organo-phosphates as also derived formulations based
on the technical know-how from Royal Dutch/Shell Group.

1980 - 6,00,000 Bonus shares issued in prop. 1:3.

1984 - The Company received a Letter of Intent for the manufacture of
phosphamidon and DDVP, two agrochemicals, at Lote Parshuram.

- The Company submitted an application for the manufacture of
sulphonates and sulphates of linear alkyl benzene/dodecyl
benzone/alpha olefins/fatty alcohols and detergents.

1985 - The Company obtained sanction to manufacture per annum 30 tonnes
of hydroxyl terminated polybutadiene in collaboration with Indian
Space Research Organisation.

1986 - 12,00,000 Bonus equity shares issued in prop. 1:2.

1987 - Ensen Holdings Private Limited became a subsidiary of the
Company.

1988 - The Company's programme for modernisation and substantial
expansion of its ethylene capacity to 300,000 tonnes at Thane
received locational as well as environmental clearance from the
Maharashtra Government.

1991 - Operations at Thane were affected for three weeks in June,
following inundation of the complex consequent to unprecedented
heavy railfall.

- The Company received approval for foreign collaboration
agreements to cover the supply of know-how/technology for a
majority of the processes involved in the project.

- The Company received necessary approvals for production of
20,000 TPA of high yielding varieties, hybrid seeds at different
locations in different states, outside urban area and municipal
limits.

1992 - During December, the Royal Dutch/shell group decided to withdraw
as a shareholder from NOCIL. Following the Necessary approvals
from RBI, the Royal Dutch/Shell group transferred its entire
shareholding to Arvind Mafatlal Group and its business
associates.

- The shutdown of the Thane complex continuing longer than
scheduled, interruption in power supply and the transporters
strike in July affected adversely the operations of
petrochemicals unit.

- The R&D Unit undertook development of PVC and thermo plastic
rubber compounds and expandable polystyrene.

1993 - The Ethylene pipeline from IPCL's plant at Nagothane to
petrochemicals plant at Thane was commissioned.

- The Company entered into a joint venture agreement with Dowelanco
Agricultural Products Ltd., an associate of Dowelanco to
establish a joint venture company 'DE-NOCIL Corp Protection Pvt.
Ltd.' in India to manufacture crop protection chemical for the
Indian market and also to take over the Agrochemicals and seeds
business of the Company.

- A Research group was set up to synthesis novel mollecules
which seemed to have fungicidal and herbicidal activity. In
addition, biological screening of novel mollecules were carried
out in collaboration with Shell Research Centre, U.K.

- The Company commercialised the process know-how obtained from
Regional Research Laboratories at Hyderabad and Jorhat in respect
of Monocrotophos and a multipurpose plant for the manufacture of
DDVP/Phosphamidon was to be set up.

- The R&D unit embarked upon product application technology
development for thermo plastic rubber and had also undertaken
development of new process/product technologies in the fields of
agrochemicals, fine/speciality chemicals, formulation development
and methods of effluent treatment.

- The R&D Unit undertook development of new process/product
technologies including upgradation of by-product streams. It
also carried out application development work on polyolefins and
thermoplastic rubber compounds to enlarge the market.

- Polyolefins Industries Ltd. (PIL) was amalgamated with the
Company effective from 1st April. Pursuant to the scheme of
amalgamation, the Company issued 13,30,285 No. of equity shares
of Rs 100 each to the shareholders of PIL in the ratio of one
equity shares of Rs 100 each of PIL for every one equity share
of Rs 100 beach of the company.

- The Company proposed to issue 12,00,000 bonus equity shares in
prop. 1:3.

- Urvija Investments Ltd. became a subsidiary of the company during
the year consequent to the amalgamation of PIL with the Company.

1994 - New speciality grades of HDPE were successfully introduced in the
local market.

- During the year new value added polymer compounds like
Antifibrillation Musterbatch, Furniture Compounds etc. were
introduced.

- The Company's proposal to modernise the Naphtha cracker plant
which would increase the Ethylene capacity to 3,20,000 TPA along
with 1,80,000 tonnes per annum of polypropylene, 2,10,000 tonnes
per annum of Polyethylene and a plant for Ethoxylates.

1995 - 6,13,02,850 bonus equity shares issued in prop. 1:1.

1996 - Drip irrigation systems for high value horticulture products were
successfully introduced during the year.

1997 - The Company commissioned a new and latest state-of-the-art
technology blow moulding plant for the manufacture of L-ring
drums and large capacity containers.

- Indian Petrochemicals Corporation Ltd and Infosys Technologies
Ltd have signed agreements with National Securities Depository
Ltd (NSDL) to get their equity shares admitted for
dematerialisation on NSDL.

- Dow Chemicals of the US has emerged as the front-runner in the
race to acquire a majority stake in the petrochemical joint
venture with National Organic Chemicals company (NOCIL), an
Arvind Mafatlal Group company.

1998 - The company received certification for the quality management
system for the remaining products groups in petrochemicals
division and for all the products in the polymer, Rubber
Chemicals and Plastics Products Divisions. The company has
thus received ISO 9000 certification for all its divisions.
The company now wishes to acquire the Certificate for
Environment System ISO 14000.

- A memorandum of understanding has been signed between Mafatlal
Industries. Shell, Montell and Nocil for the setting up of the
new project with capacity of 450,000 tonnes per annum.

1999 - The Arvind Mafatalal-group controlled Nocil has launched an
attractive voluntary-retirement scheme (VRS) at its
petrochemicals and polymer division before it is officially
taken over by Shell Montell.

- National Organic Chemical Industries Ltd (Nocil) has shut down
its poly vinyl chloride (PVC) plant at Thane.

- Representatives of National Organic Chemicals Ltd (NOCIL), a
Shell-Montell Polyolefins-Mafatlal promoted company was grilled
by citizens groups and residents of Navi Mumbai over the
violation of environmental protection norms adopted in its
proposed expansion programme.

- National Organic Chemicals Ltd (Nocil) has informed the Bombay Stock Exchange that its petrochemicals plant was shut down from Tuesday, November 27.

2002-Nocil has been shut down due to financial problem. The company was shut down after Bharat Petroleum Corporation Ltd (BPCL) stopped supplying naphtha to it since Nocil did not make outstanding payment of Rs 130 crore.

-National Organic Chemical Industries Ltd has informed BSE that the Commissioner of Labour by his order dated August 30, 2002 granted permission to the Company to close down the Petrochemicals Division of the Company under Section 25 - O of the Industrial Disputes Act, 1947.

2004

-NOCIL Board approves Financial Restructuring Proposal

-NOCIL signs a MoU with Reliance Industries Ltd. to sell its petrochemical & plastics products division

2006
-National Organic Chemical Industries Ltd ha appointed Mr. C L Jain as an Additional Director of the Company.

2007

-National Organic Chemical Industries Ltd has appointed Mr. Dhanajay Mungale as an Additional Director on the Board of Directors.

- Company name has been changed from National Organic Chemical Industries Ltd.to NOCIL Ltd.

2008

-Nocil Limited has appointed Mr. V. K. Gupte as a Company Secretary of our Company w.e.f. 12th April, 2008.
 
Subscribe now to get personal finance updates in your inbox!