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

Tamilnadu Petroproducts Ltd. Company History and Annual Growth Details

YEAR EVENTS
1984 - The company was incorporated on 22nd June 1984. It was promoted
by Tamil Nadu Industrial Development Corporation Ltd. (TIDCO).
In October 1984, TIDCO inducted Southern Petrochemical Industries
Coporation Ltd. (SPIC) as the joint sector associate in setting
up a project for the manufacture of 50,000 tonnes per annum of
linear alkyl benzene (LAB). The Company manufacture linear alkyl
benzene and heavy normal paraffin.

1986 - The Government of India re-endorsed the industrial licence
increasing the plant capacity of linear alkyl benzene (LAB) to
60,000 TPA from 50,000 TAP.

- The Company obtained the necessary clearances for import of
capital goods from Germany, USA, Japan and Finland and also
obtained the Government approval for engaging the services of
foreign technicians from the said countries.

- 10 shares subscribed or by the signatories to the Memorandum of
Association. 3,89,99,990 shares then issued at par of which
101,39,995 shares to TIDCO and 98,60,000 to SPIC were reserved or
allotment. (All shares were allotted except 9,99,995 shares
formal allotment of which was awaiting Govt. approval).

- Out of the remaining 1,89,99,995 shares, the following shares
were reserved for preferential allotment; (i) 10,00,000 shares to
UTI (all were taken up); (ii) 3,79,995 shares to business
associates of the Company (all were taken up); (iii) 19,50,000
shares to employees (including Indian working directors)/workers
of the Company and promoter companies (only 1,54,800 shares taken
up); (iv) 36,00,000 shares to shareholders of SPIC and (v)
50,00,000 shares to non-resident Indians on repatriation basis
(all were taken up). The balance 70,70,000 shares along with the
unsubscribed portion of 17,95,200 shares out of the employees
quota were offered for public subscription during September 1986.

- 97,50,000 additional shares allotted to retain oversubscription
(15,56,000 shares to non-resident Indians, 27,16,500 shares to
the public and 54,77,500 shares to promoters, etc.

1987 - The Ministry of Petrochemicals approved the supply of 3,80,000
TPA kero-feed stock by Madras Refineries Ltd. It was proposed to
market LAB under the trade name "SUPERLAB". The Company
commissioned two D.G. sets of 3240 KWA. Efforts were made to
increase the capacity of linear alkyl benzene (LAB) further to
75,000 TPA. Additional storage, loading and despatch facilities
were also being set up for LAB.

- Contracts were entered into with UOP for supply of catalysts and
sorbents.

- In July MOU was signed with UOP for improving the quality of LAB
and also for provision of additional facilities to increase the
capacity to 75,000 TPA.

- (18 months), specifications and drawings were received from UOP
for heavy normal paraffin (HNP) project which was expected to be
commissioned during the third quarter of 1990.

- During the year, it was also proposed to set up a refining unit
to improve the quality of LAB and the consumption norms which
would help in converting the low value by-product viz., heavy
alkylate to high value LAB. The unit was commissioned in October
1989.

- The Company undertook research and development activities. A
pilot plant was set up at Trichy to demonstrate usage of LAB in
detergent industry to suggest new formulations etc. Also
laboratories with testing facilities were established at
Ahmedabad and Trichy to serve customers.

- 37,500 shares forfeited out of which 36,600 shares reissued and
forfeitures on the balance 1,100 shares annulled. 68,62,495
shares out of 69,99,995 shares awaiting Govt. approval were
allotted (36,74,995 shares to TIDCO and 31,87,500 shares to
SPIC).

1989 - During September, 1989, the Company entered into a joint venture
agreement with M/s. Henkal W. Germany a detergent manufacturer
for setting up a detergent project to be implemented by SPIC,
Fine Chemicals, Ltd.

- The Company proposed to undertake debottlenecking for increasing
the production of LAB by another 10,000 TPA. Government of India
under the `policy of Minimum Economic Scales of Operations,
proposed to endorse plant capacity from 60,000 TPA to 80,000 TPA
in the industrial licence.

- The company proposed to obtain the said endorsement. To improve
efficiency safety and cost economics, the Company proposed to
incorporate the Advanced process control system.

- M/s. UOP Desplains USA, M/s. Setpoint, Houston, USA, were
commissioned by the Company to undertake definition phase study
to explore the possibility of incorporating the said system.

- During September, the Company entered into a joint venture
agreement with M/s. Henkel, W. Germany a detergent manufacturer
for setting up a detergent project to be implemented by SPIC.

- A company under the name of SPIC Fine Chemicals, Ltd. (SFC) was
incorporated for implementation of the project.

- 1,37,500 No. of equity shares awaiting Government approval were
allotted.

1991 - The Company decided to participate in the
revival-cum-rehabilitation scheme of Standard Motor Products of
India, Ltd. (SMPL), as per an approval obtained from BIFR.

1992 - A Letter of Intent was received for the manufacture of 33,000
tonnes per annum of caustic soda at Uthamacholapuram in Nannilam
Taluk, Nagapattinam, Quaid-E-Milleth District.

- Registration with Government was completed for a project for the
manufacture of 10,000 tonnes per annum of epichlorohydrin a basic
raw material used for epoxy resin.

- During October, detailed proposals were submitted to IDBI for
seeking financial assistance for the epichlorohydrin project to
be set up at a cost of Rs 100 crores in Manali for which an
agreement was signed with CONSER, Italy for supply of technical
know-how.

- The Company signed a MOU with M/s. Total Lubricants
International, France to establish a Joint Venture for the
manufacture of Lubricants used in automotive industries. The
High Court of Chennai on 4th October, 1996 ordered winding up of
the Company.

- 49,10,859 No. of equity shares issued on conversion of loans from
the Financial Institutions.

1993 - The Company received Export Award for 1990 from the Government of
Tamil Nadu.

- In January, additional facilities for storage, loading and
despatch of LAB has been commissioned. The Advanced Process
Control System to improve the efficiency of operation as well as
specific consumption of the plant was to be commissioned by June.

- Applications were made for the caustic soda project for pollution
clearance and also appraisal of the project by IDBI for financial
assistance.

- Government also considered allotment of 5000 acres of land for
development of salt pans at Vedaranyam which is the potential
source of raw material.

- The Company implemented the project for manufacture of
Epichlorhydrin at Manali, Chennai.

- Arrangements were made for training plant personnel in a similar
existing project at M/s. Ham Young Chemicals Corporation Ltd.,
Korea.

- During December, the Company issued 134,15,300 rights equity
shares of Rs 10 each for cash at a premium of Rs 15 per share
in proportion 1:4 (only 134,15,010 shares taken up). 5,600
shares kept in abeyance. Another 37,00,000 shares issued
exclusively to ensure allotment in market (only 12,50,218 shares
taken up inclusive of 2,902 shares remaining unsubscribed in
respect of rights issue).

- As at the same period the Company offered through a prospectus
182,20,000 shares at a premium of Rs 20 per shares in the
following basis: (i) 33,28,500 shares to Indian mutual funds and
financial institutions. (ii) 13,72,800 shares to FIIS etc.
(iii) 30,00,000 shares to NRJs on repatriation basis (iv)
18,22,000 shares to SPIC on preferential basis. (v) 1,20,700
shares to employees (only 1,05,200 shares taken up. Balance
85,76,000 shares along with unsubscribed portion of NRIs quota
(9,57,000 shares) & employees quota (15,500 shares) and 33,28,500
shares from Mutual Funds and Financial Institutions were issued
to the public. 32,885,228 shares were allotted including Rights
and Public Issue.

1994 - Epichlorophydrin plant was commissioned. The Company
commissioned a 3 MW capacity windfarm project in Palladam Taluk,
Coimbatore District.

- The Company proposed to implement a 5 MGD Tertiary Treatment
Plant/Reverse Osmosis Plant in association with other group
companies of SPIC in Manali belt to augment the captive
requirement of industrial water.

- 5,450 shares kept in abeyance.

1995 - The Company commissioned the second phase of 9MW capacity
windfarm to augment the power requirement. During the year the
Company was selected by the Government of Tamil Nadu to implement
the 500 MW thermal power project at Tuticorin at an estimated
cost of Rs 2000 crores. A MOU was entered into with Tamil Nadu
Electricity Board.

- The Company commissioned a storage facility with a capacity of
500 tonnes at Cuddalore port to handle propylene. The factory
was being expanded to 1000 tonnes by August 1997.

- A letter of intent was received from the Tamil Nadu Government
for setting up a 6 MTPA Refinery at Minpur, Chennai.

- Ciba Geigy, Switzerland evinced keen interest for association
with the Company to set up a project for manufacture of 25,000
TPA of expoxy resin using Epichlorohydrin.

1996 - A MOU was entered into with Indian Oil Corporation Ltd. on 24th
January, for marketing of petroleum products from the proposed
refinery.

- A MOU was signed on 24th January, to set up a joint venture
Company adjacent to ECH plant at Manali to have the key raw
material on pipeline for transfer, elimination of risks in
handling the extra bulk and ensure savings in freight and
storage.

- The Company proposed to expand the LAB plant's capacity by
adopting state-of-the-art technology. This expansion was to meet
the requirement of Petro Aroldite Pvt. Ltd., a joint venture with
Ciba Geigy.

- A separate joint venture company was formed with Ciba-Geigy Ltd.
on 10th December, to set up basic liquid resin plant at Manalis
with a capacity of 25,000 tpa.

2000 - Tamil Nadu Petroproducts Ltd. promoted by SPCI Ltd. and
state-owned Tidco, to set up a plant each in Saudi Arabia and
Vietnam.

2002

-BOD withdraw the nomination of Dr.K Satyagopal , as Director representing TIDCO.

-BOD co-opted Thiru V K Jeyakodi as the Director of the TIDCO.

-Shifts its Registered office to Manali Express Highway, Manali, Chennai - 600 068.

-Board in its meeting on Aug-02 approves the proposal to issue secured redeemable Non-convertible debentures aggregating Rs.100crs on private placement basis to financial institutions.

-Co-opts Thiru G M Ramamurthy as the Director representing IDBI.

2003

-Board members approve for the delisting of the company equity shares of the company from Delhi and Ahmedabad Stock Exchanges.

-1.Thiru Arun Ramanathan, IAS is appointed as Chairman representing TIDCO

-2.Accepted the withdrawal of nomination of Thiru K Skandan, IAS as Director & Chairman by TIDCO Ltd.

-3.Has accepted the resignation of Thiru M. Sundaram as Director and Chief Operating Officer (Whole-time Director).

2004

- D Arunachalam, managing director and CEO of Tamilnadu Petroproducts (TPL) has put in his papers. Confirming the development, sources in the Spic group said he wanted to resign on personal grounds. TPL is a joint venture between Spic and state-owned Tamilnadu Industrial Development Corporation( Tidco)

-MR R.M. Muthukaruppan, Chief Operating Officer, Tamilnadu Petroproducts Ltd, has been appointed its Managing Director and Chief Operating Officer.

-1. Accepted the request of early retirement of Thiru D Arunachalam as Director and Managing Director & CEO representing SPIC w.e.f. February 3, 2004.
2. Co-opted Thiru RM Muthukaruppan as Director and appointed as Managing Director & Chief Operating Officer representing SPIC w.e.f. February 4, 2004 in place of Thiru D Arunachalam.
3. Co-opted Thiru V Ramani as Director and appointed as Director & Chief Financial Officer representing SPIC w.e.f. February 4, 2004.
4. Accepted resignation of Thiru A C Chakrabortti as Independent Director.
5. Co-opted Thiru N R Krishnan as Director in place of Thiru A C Chakrabortti w.e.f. January 22, 2004.
6. Accepted resignation of Thiru M R B Punja as Independent Director.
7. Co-opted Dhananjay Narendra Mungale as Director in place of Thiru M R B Punja w.e.f. January 22, 2004.
8. Accepted the withdrawal of nomination of Thiru L Krishanan as Director representing TIDCO.
9. Co-opted Thiru Ashok Kumar Gupta as Director representing TIDCO w.e.f. January 22, 2004 in place of Thiru L Krishanan.

2004

-TPL forms alliance with Al Zamil for Saudi LAB project

2007

-Tamilnadu Petroproducts Ltd has informed that the Board of Directors of the Company at its meeting held on October 26, 2007, has approved the following changes in the constitution of the Board of Director(s) of the Company. Thiru Sunil Paliwal, IAS: Accepted the withdrawal of nomination of Thiru Sunil Paliwal, IAS, as Director representing Tamilnadu Industrial Development Corporation Ltd (TIDCO).

2008

- Thiru M F Farooqui, IAS as Director representing TIDCO and appointed him as Chairman.

2011

- The Board of Directors of the Company has passed a resolution approving the sale of 17,351,686 equity shares of Rs. 10/- each (fully paid up) representing 14.90% of the paid up equity share capital of Henkel India Ltd to Jyothy Laboratories Ltd, Mumbai.

2012

-Company has recommended payment of 5% dividend on the Paid up Equity Share Capital (Rupee 0.50 per equity share).

2013

-Company has been appointed Thiru Muthukrishnan Ravi as Managing Director.

-Mr. R. Kothandaraman has been appointed as Company Secretary and Compliance Officer of the Company.

2014

-Mr. M. Pazhaniandy Pillai has been appointed as an Additional Director/Wholetime Director of the Company.

2019

-Commencement of Commercial production of Propylene Oxide.

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