1956 - The Company was Incorporated on 30th June, as a private
company under the name and style of Atul Drug House,
1960, it was a deemed public limited company under
of the Companies Act, 1956. The Company's object is to
manufacture formaldehyde, hexamine, Pentaerythritol,
alcohols and polyacetal resins.
- In July, the paid-up capital of the Company was Rs.5,000
into 50 shares of Rs.100 each. The capital of the
increased by Rs.45,000 by allotment of 450 No. of equity
of Rs.100 each in March 1960.
1960 - In December, the paid-up share capital of the Company was
increased by Rs.5,50,000 by allotment of 5,500 No. of
shares of Rs.100 each.
1962 - The Company installed its first plant for the manufacture of
formaldehyde and hexamine at Kandla.
1966 - In December, the paid-up share capital was increased by
Rs.24,00,000 by allotment of 24,000 No. of equity shares
paid-up Bonus shares.
1967 - Another plant was put up at Capi near Bulsar in Gujarat State
the manufacture of 14,400 tonnes of formaldehyde and 540
of hexamine per annum.
1968 - In February, paid-up capital was further increased by
by adjustment of deposits, by allotment of 3,000 No. of
shares of Rs.100 each against loan.
1970 - The Company installed at Vapi a plant for the manufacture of
Pentaerythritol formaldehyde with a capacity of 1,200
annum with the technical knowhow supplied by Joset
- The fluorine chemicals division, however, suffered a
to labour problems and continued shortage of working
1971 - Out of the 33,000 shares issued so far, 20,000 shares held by
East African Match Co., Ltd., 24,000 shares issued as
shares in December 1966 in prop. 4:1.
1975 - Capital reduced by Rs.11,00,000 in terms of the Gujarat High
Court order dated 10.10.1975, the Company having
shares from the minority shareholders. With this, the
bonus shares issued stood reduced to 16,000.
1976 - The name of the company was changed to Atul Chemical
Ltd. with effect from 14th September. It became a
1977 - Before the public issue of shares in December, the Company was
100% foreign Company. The objects of the issue of
shares to the
public was to reduce the non-resident holding of 40% and
finance certain expansion projects.
- Shares subdivided in Dec. 1976, 6,60,000 Bonus shares
March in prop. 3:1. 4 shares of Rs.10 each issued in
to Indian residents.
1978 - With issue of 74,900 No. of equity shares of Rs.10 each to
shareholders of Everest Refrigerants, Ltd., the
shareholding in the company was reduced to less than
- The Company issued 15,80,000 No. of equity shares of
at a premium of Rs.12 per share as per RBI approval
March, 1992 increasing the non-resident holding from
38% to 51%
(to M/s. Universal Finance Development Co. Ltd. M/s.
Development Co. of Jersey, Ltd. both at Bermuda). These
were issued as per revised industrial policy of
India, allowing companies to increase the non-resident
shareholding to 51%.
- With effect from 1st December, Everest Refrigerants Ltd.,
amalgamated with the Company. 75,900 No. of equity
Rs.10 each and 11% unsecured redeemable bonds of Rs.100
the total value of Rs.12 lakhs in the prop. 1 equity
Rs.10 each of the Company for every 8 No. of equity
Rs.10 each of Everest Refrigerants held and one 11% bond
Rs.100 each and 1 equity share of Rs.10 each for every
preference shares of Rs.100 each held; the 11% bonds so
are redeemable at the rate of 2,000 bonds per year
from one year after the date of sanction of the scheme
Amalgamation by the High Court.
- The name of the Company was changed from Atul Chemical
Ltd. to the present one.
- During November/December 1977, 9,20,000 shares offered at
- 74,900 shares issued without payment in cash to members
Everest Refrigerants Ltd. on its merger with the
1981 - 9,37,452 Rights equity shares issued at par.
1985 - The operations of the fluorine chemicals division were
affected due to labour problems from October to January
1986 - A long term agreement signed with the workers of the fluorine
division ended on 30th September. The workers resolved
slow and the Company was forced to declare a lock-out
from June, 1987. The lock-out in the fluorine division
lifted in April 1988.
- Sales of Hexamine and Sodium formate were adversely
to erractic supplies of methanol.
1990 - During the year, refined glycerine was introduced and received
good market response.
- The Company issued 29,52,974 No. of equity shares of
for cash at par. Of these 28,12,356 shares were offered
shareholders on rights basis in the prop. 1:1 (all were
Additional 3,75,618 shares were allotted to retain
oversubscription. Another 1,40,618 shares were offered
employees (only 3,050 shares were taken up) and
portion was allowed to lapse. The allotment of 46,235
kept in abeyance.
- 32,37,259 rights equity shares issued at par, prop.
1991 - Effective from 1st April, the flouring chemical division was
delinked from the Company.
- 46,235 rights shares kept in abeyance were allotted on
shares fully called up.
1992 - Further expansion of the capacity at the chemicals storage
division from 40,000 KL to 70,000 KL was being
- 15,80,000 No. of equity shares allotted (prem. Rs.12 per
to NRI shareholding companies to increase their holding
38% to 51%.
- The Company is proposing issue of Rights Shares in the
of 3:5 (i.e 3 new shares for every 5 shares held) which
mainly utilised for modernisation and expansion of the
facilities, acquiring fixed assets, retiring high cost
improving the debt equity ratio as per package approved
1993 - The Company proposed to enhance the capacity of petrochem
at Vapi by importing foreign technology. The imported
expected to be commissioned by Feb./March 1996.
- The Company entered into an agreement with Amit Alcohol
Carbon Dioxide Ltd. to acquire on lease its Alcohol and
Pentaerythritol plants resulting in availability of
capacity of 1200 tonnes of Pentaerythritol and
facilities of 6000 KL of Industrial Alcohol.
- Also entered into an agreement for lending portion of
Trombay in addition to terminal management agreement for
- During October, the Company issued 45,59,769 No. of
of Rs.10 each at a prem. of Rs.12 per share on rights
the prop. of 3:5. All were taken up.
- Another 1,90,800 No. of equity shares of Rs.10 each at a
Rs.12 per share were offered to the employees. Only
1994 - Negotiation for setting up a new world size Penta Plant with
foreign collaboration was on for the purpose of
portion of production. Also proposed to increase the
storage terminal by 40,000 KL.
- 45,61,569 rights equity shares allotted during October
1995 - 2,81,000 shares converted out of 12,00,000 preference warrants
a prem. of Rs.41.60.
- The company proposes to carry out expansion in their
capacities of their Pettrochem plant at Vapi.
- The company is entering into an arrangement with Amit
Carbon Dioxide Limited, a company having its
operiations adjacent to company's plants, to acquire on
Alcohol and Pentaerythritol plants.
1996 - The capacity of the Acetaldehyde plant has been increased to
TPD from 3 TPD thereby reducing the dependency on the
market for the requirement of Acetaldehyde and an
of Art 12000 TPY plant of Formaldehyde was erected and
successfully commissioned in record time.
- The Company has converted 2,81,000 out of 12,00,000
Warrants having an issue price of Rs.51.60 into 2,81,000
Equity Shares of Rs.10/-each at a premium of Rs.41.60.
1997 - The Company is in process of finalising a Joint Venture for
manufacture of Pentaerythritol, which will enhance the
to 15,000 MTS per annum, with the latest technology.
joint venture partner Perstorp AB of Sweden, is the
in Pentaerythritol technology.
- Pursuant to the scheme of Amalgamation approved by the
and Order of High Court of Gujarat at Ahmedabad dated
Amit Alcohol & Carbon Dioxide Ltd. (AMIT) has been
- Further pursuant to the Order of High Court, Company
11,83,400 No. of Equity Shares of Rs. 10/- each to the
Shareholders of AMIT in the ratio of one equity share
four equity shares of AMIT.
1998 - 11,83,400 No. of equity shares of Rs 10 each issued to the
shareholders of erstwhile Amit Alcohol & Carbon Dioxide
its amalgamation with the Company of which 15,000
shares held by
(AMIT) calcelled pursurant to the High Court order.
- During the Year, the Company intends to spin-off the
division into a Joint Venture with Perstorp AB of
world's largest producer of pentaerythritol.
1999 - The Petrochemicals Division was hived off to Perstorp Aegis
Chemicals Ltd., (PACL) a Joint Venture company between
Company and Perstorp AB, Netherlands.
- During the year Mr. S.V. Ghatalia. Director had resigned
Directorship of the Company on grounds of ill-health.
2000 - Hindustan Aegis LPG Ltd, a company promoted by Aegis Chemical
Industries Ltd, is preparing a package for the members
Bombay Taximen's Union (BTU) to convert their vehicles
petrol or diesel-driven to liquefied petroleum gas (LPG)
-Aegis Chemical Industries Ltd has informed BSE that consequent to
the members not approving the resolution for reappointment of
Directors Mr R R Khimasia and Mr S R Khimasia at the 45th AGM held on
September 07, 2002 they ceased to be Directors of the Company.
- Mr. Sangameshwar Iyer has been appointed as a Compliance Officer
of the Company in place of Mr. A Chandarana.
-Aegis Logistics has recommended a dividend of Rs 1.20 per share
-Ms. Jignasha Shah has been appointed as a Company Secretary &
Compliance Officer of the company.
-Aegis Logistics has recommended dividend at Rs 2.50 per share
-Aegis Logistics has recommends dividend at Rs 2.50 per share
-Aegis Logistics has recommended final Dividend at Rs 2.00 per Share
-Mr. V H Pandya has been appointed as Additional Director of the
-Aegis Logistics acquires Shell Gas (LPG) India
-Aegis Awarded BORL Contract
-Aegis enters into a major deal with APM Terminals Pipavav for a Port
-Aegis Logistics has given the Bonus in the Ratio of 2:3
-Aegis inks MOU with APM Terminals, Pipavav
-Mr. Shivatosh Chakraborty has been appointed as a Company Secretary
& General Manager - Legal and compliance officer of the Company
-Aegis Logistics forays into marine bunkering sector to offer fuels
and servicing solutions
-Aegis Logistics has recommended final dividend @ 20% i.e. Rs.2/- per