1963 - Borax Morarji Limited was incorporated on August 27, at
It was promoted jointly by The Dharamsi Morarji Chemical Co.
Mumbai. The Main Object of the Company is to Manufacture and
deal in borax and boric acid, their derivatives, by-products
- The Company entered into a collaboration with Borax
Ltd. England, for the supply of technical know-how etc., for
manufacture of borax and boric acid.
1964 - 20 shares subscribed for by signatories to Memorandum.
26,991 shares to Borax (Holdings), Ltd., U.K. and 14,998
to Dharamsi Morarji Chemical Co., Ltd. 17,991 shares offered
the public in January.
1970 - 20,000 Bonus equity shares issued in prop. 1:3.
1975 - 26,666 Bonus equity shares issued in prop. 1:3.
1983 - Shares of Rs 50 each split into shares of Rs 10 each.
1986 - It was proposed to increase the licensed capacity of boric
by 867 tonnes per annum under the Govt.'s Re-endorsement of
Licensed Capacity Scheme.
- Land, buildings and plant and machinery of the Company were
revalued as on 31st March.
- 5,33,330 Bonus equity shares issued and allotted at par in
1989 - 5,33,330 Bonus equity shares issued and allotted at par in
1990 - During June/July, 7,99,995 Rights equity shares offered (prem.
10 per share; prop. 1:2). (all were taken up).
another 40,000 shares (prem. Rs 10 per share) issued to
under Stock Option Scheme (only 10,520 shares taken)
29,480 shares allowed to lapse.
1992 - The margins were adversely affected due to allround increase
cost of production. The Boron division was adversely affected
account of the recessionary condition of the consumer
- The Company undertook to set up a 100% EOU for manufacture of
brush/rooms block at Shenbagaraman Puthur.
1993 - The Company proposed to explore the possibilities to enter
business of import, manufacture and/or distribution/marketing
LPG, including acquiring mining rights, drilling operations
acting as dealers, transporters etc. Also, it was proposed
generate electricity with the help of conventional and
non-conventional sources of energy such as wind, solar energy
1995 - A Registered User agreement was entered into with Borax
Consolidated Ltd., London, for permission to market the
product under the trade mark 20 Mule Team.
- The Company had indentified a project for manufacturing
chemically treated rubberwood BOROTIK and a chemical
- The Company identified a new product `Vinyl Sulphone' used
the manufacture of reactive dyes. Approval to set up a plant
with a capacity of 1000 tonnes of Vinyl Sulphone per annum
received from the Ministry of Industry. The Company also
proposed to produce Wooden Flooring from Borotik to give one
value added item for export.
- 6,02,627 right equity shares allotted at a premium of Rs 20/-
share in ratio of 1:4.
- Borax Morarji Ltd has re-appointed Mr. H T Kapadia, whose term as
Managing Director of the Company expired on March 31, 2009, as the
Managing Director of the Company for a period of 1 (one) year from
April 01, 2009 by the Board at its meeting held on March 30, 2009.
- Borax Morarji Ltd has appointed Miss Mitika L. Goculdas as
additional Director at the meeting held on December 02, 2009.
- Shri Bimal Lalitsingh Goculdas has been appointed as Managing
Director of the Company w.e.f. April 01, 2012