Enter the first few characters of Company and click 'Go'

Kanoria Chemicals & Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1960 - The company was incorporated on 17th December, with the main
object of Manufacturing heavy chemicals and commenced business on
27th March, 1961. The main objective of the company is to
manufacture caustic soda, chlorine, chlorine products and other
chemicals, jute goods, cloth and yarn.

- The technical collaboration with Krebs & Co. Ltd, Zurich,
Switzerland, a plant was set up in 1964 to manufacture caustic
soda at Renukoot in U.P. with an installed capacity of 16,500
tonnes per annum.

1961 - Allotted 3,00,000 No. of equity shares to promoters, etc. and
50,000 No. of equity shares to LIC. 20,000 pref. and 4,50,000
No. of equity shares offered at par to public.

1963 - In Feb. 1964, 15,000 pref. and 50,000 No. of equity shares
offeres to the public. Arrears: 71,990.

1968 - 50,000 No. of equity shares issued at par. Arrears: Rs. 250.

1969 - The company in collaboration with Fredriech Ltd. GmbH of
Dartmund, West Germany, set up a plant to produce 5,000 tonnes of
stable bleaching powder. The capacity of the plant was increased
to 10,000 tonnes in 1976 and to 15,000 tonnes in 1980.

- The company commenced manufacture of benzene hexa chloride (BHC)
technical in collaboration with M/s. Kurcha Chemicals and M/s. C.
Hon & Co. Ltd., both of Japan. The capacity was increased to
6,000 tonnes per annum in 1974 to 12,000 tonnes in 1978 and to
16,000 tonnes subsequently.

1972 - The company also acquired a salt works in Gujarat.

- Rate of dividend on 19,990 pref. shares increased from 9.5% to
9.8% and the redumption date extended.

1977 - 8,95,500 bonus equity shares issued in prop. 1:1.

1981 - The Company issued in November, 13.5% redeemable secured
non-convertible debentures of Rs. 100 each of the aggregate value
of Rs. 200 lakhs. The rate of interest was subsequently
increased to 15% per annum. These debentures will be redeemed
on 9th January.

- 8,95,000 bonus equity shares issued in prop. 1:1.

1982 - As a measure of diversification, the Company had set up a new
plant for the manufacture of pentaerythirtol/pure and nitration
grades required for the manufacture of explosives and technical
grade for the manufacture of paints, resins and other
miscellaneous purposes with an installed capacity of 1,200 tonnes
per annum and its by product sodium formate 660 tonnes per annum
at GIDC Industrial Area, Ankleshwar in Gujarat. This plant was
commissioned on 27th June, 1983.

- Anil Synthetics Ltd., has a composite textile mill in the heart
of Ahmedabad at Rakhial Road with 25,000 spindles and 438 looms.
The management of Anil Synthetics Ltd., was taken over by the
Company with effect from 1st March. 3,100 No. of equity shares
of Rs. 10 each of the company were allotted to the members of
Anil Synthetics Ltd.

- The major items of the fixed assets of Renukoot Chemical Works
division were revalued as on 30th June. The net surplus arising
out of this revaluation was credited to capital reserves.

- Land and buildings of the Ludlow Jute Mills division were
revalued as on 31st March, and the net surplus of arising out of
this revaluation was credited to capital reserves.

1983 - With effect from 1st October, the Company entered into a
manufacturing arrangement with Kanoria Synthetics Ltd., whereby
the Company would undertake the manufacture of yarn at their
mills known as "Jawala Textile Mills" at Gurgaon (Haryana). The
manufacturing arrangement was terminated with effect from 1st
June, 1985.

- All preference shares redeemed on 28th March 1984.

1985 - A substantial improvement in the working of Textile Division was
expected with the installation of 24 Air jet looms and other
balancing equipments.

- The Company acquired the assets of the Indian branch of Ludlow
Jute Co. Ltd., U.S.A. including Ludlow Jute Mills at Chengail in
Howrah district of West Bengal. The mill manufactures jute yarn,
webbing, hessian, sacking, cotton bagging and soil saver. By a
scheme of arrangement, the assets and liabilities of the Ludlow
Jute mills were transferred to Aekta Ltd., subsidiary of the
Company with effect from 1st July.

- Renukoot Power Co. Ltd., was amalgamated with the Company with
effect from 1st July.

- Vidun Dealers Ltd., is a subsidiary of Aekta Ltd.

1986 - The company entered into a Technical Agreement with BTL
Speciality Resins Corporation of U.S.A. for the manufacture of
6,000 tonnes per annum of formaldehyde at Ankleshwar, Gujarat.
chemicals division was delayed as a change of collaboration was
necessitated.

1987 - The lower production was attributed to chemicals division shut
down, for expansion of the plant to a capacity of 3,000 tonnes
per annum and for introduction of the membrane technology for the
manufacture of pentaerythritol.

1988 - An Acetaldehyde chemical division was set up at Ankleshwar.

1989 - Production was lower due to initial problems with the new
membrane technology.

- The Company set up a Chemical division to manufacture
Formaldehyde in technical collaboration with Perstrop AB of
Sweden. The plant was commissioned in April 1990. An agreement
was entered into by the company with the Pradeshiya Industrial
and Investment Corporation of U.P. Ltd. (PICUP), for the setting
up of a polypropylene plant at U.P.

- Kanoria Alkalis and Plastics Ltd., Chlorotex Ltd., Pipri Ltd.,
and Aekta Ltd., are all wholly owned subsidiaries of the Company.
Kanoria Polymers Ltd., became a subsidiary of Kanoria Alkalies
and Plastics Ltd. The name of Kanoria Alkalies and Plastics
Ltd., was changed to Kanoria Petroproducts Ltd., effective from
19th January. Kanoria Petroproducts Ltd., made a public issue on
10th May. After the allotment of shares to the public on 26th
June, Kanoria Petroproducts and Kanoria Polymers ceased to be
subsidiaries of the Company.

- 13,44,800 Bonus equity shares issued in prop. 1:2 in June.

1990 - Production of pentaerythritol and sodium formate improved
considerably to 2,900 tonnes and 1,923 tonnes respectively.

1991 - To further improve the quality of yarn and augment exports, two
more autoconers were to be imported and installed.

- The Lindane plant set up at Renukoot with a capacity fo 412 TPA
all efforts were made to overcome teething troubles. Also, a new
plant to manufacture 1500 TPA of Hexamine set up at Ankleshwar,
was commissioned.

- During Feb./March 1992 the company offered 40,34,000 rights
equity shares (prem. Rs. 10; Prop. 1:1). Another 2,01,800 shares
(prem. Rs. 10) offered to employees on equitable basis (only
1,52,200 shares taken up). Unsubscribed 49,600 shares allowed to
lapse.

1993 - Chemicals division was being strengthgened through backward and
forward integration by adding new product lines. A modern
distillery with a capacit of 15 million litres per annum with
provision for sale of carbon-dio-oxide and use of methane gas in
boiler was commissioned in March 1994.

- The project for doubling the capacity of lindane plant to 660 TPA
was in full swing and it was expected to be commissioned by
September 1994.

1995
-The Calcutta based Kanoria Chemicals & Industries Ltd. (KCIL) of the SS Kanoria Group becomes member of the Centre Internationale D'Etudes Du Lindane

1999
--KANORIA Chemicals & Industries Ltd (KCI) has engaged Anderson Consulting Pvt Ltd for undertaking a strategic cost reduction exercise.

2000 - The company has introduced two new products as part of its plans to
improve its margins in the current fiscal.

2004

-Kanoria Chemicals & Industries hikes capacity of Formaldehyde production facility by 50%

-Kanoria Chemicals & Industries announced commissioning of a new poly aluminium chloride plant at its integrated chlor-alkali manufacturing unit at Renukoot, Uttar Pradesh

2005

-Delist Equity Shares from The Calcutta Stock Exchange Association Ltd (CSE) w.e.f. March 30, 2005.

-Ankleshwar Division awarded "Teri Corporate Environmental Award 2003-04" by The Energy & Resources Institute

2007

-Kanoria Chemicals & Industries Ltd has appointed Shri J.P. Sonthalia as a Director of the Company with effect from 1st February, 2007 and designated as Managing Director (Designate) - Chloro Chemicals.

-The Company has issued Bonus Shares in the Ratio of 1:2.

- The Company has splits its face value from Rs10/- to Rs5/-.

2009

- Kanoria Chemicals & Industries Ltd has appointed Shri. Amitav Kothari as Director of the Company with effect from May 05, 2009.

2010

- Commissioned a Greenfield project in Vishakhapatnam in the state of Andhra Pradesh for manufacturing Formaldehyde and Hexamine.

2011

- Directors of the Company has declared Dividend @ 30% (Rs. 1.50p) on per Equity Share of Rs. 5.

- Commissioned 2.5 MW solar power project at Jodhpur district in Rajasthan, out of total plant capacity of 5 MW.

2012
-"KCI to acquire Switzerland based APAG Group".

2013
-"Kanoria Chemicals signs MoU with Momentive Specialty Chemicals Inc."

2014
-Kanoria Chemicals & Industries Ltd has recommended Dividend @ 30% (Rs. 1.50) per Equity Share of Rs. 5/- .

2017
-Kanoria Chemicals & Industries Ltd has acquired further shares in Kanoria Africa Textiles PLC

2022
-The company startrd commercial production of the Phenolic Resin Plant at Ankleshwar, Gujarat with 6500 MTPA capacity.

Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article