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Hikal
BSE: 524735|NSE: HIKAL|ISIN: INE475B01014|SECTOR: Pharmaceuticals
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Company History - Hikal
YEAR                       EVENTS
 1988 - The Company was incorporated on 8th July, with the objective
 of
        carrying on the business of manufacture and marketing of
        chemicals, intermediates, dyes, pharmaceuticals and
 pesticides.
 
      - Hikal Chemical Industries Limited (HCIL), jointly promoted by
        Surajmukhi Investment and Finance Limited, a wholly owned
        subsidiary of Kalyani Steels Limited and the Hiremath family.
 
      - The period from 1988 to 1991 was utilised in setting up the
        manufacturing facilities at Mahad over land admeasuring 27004
        square metres.
 
 1990 - On 28th February, HCIL became a deemed public company under
 the
        provisions of Section 43 A of the Companies Act, 1956, and a
        fresh Certificate of Incorporation was obtained from the
        Registrar of Companies.
 
      - The Company also proposes to enter the business of
 agrochemicals,
        more specifically pesticides, and commence production of
        Metoxuron (used as a wheat herbicide) and Metamitron (used as
 a
        sugar beet herbicide).
 
 1991 - The Company has issued 1,50,000 shares of Rs.10/- each to
        Hiremath Chemicals Limited in lieu of technical know-how and
        engineering in the year.
 
      - The Memoranum of Understanding (MOU) dated 3rd January, valid
 for
        a period of 7 years, between Hikal Chemical Industries Ltd.
        and Hiremath Chemicals Ltd. covers transfer of technology and
        technical assistance for Meta chloro aniline, 3,4 DCNB and
        paracumidine.
 
 1993 - In December, Sumitomo Corporation, Japan, one of the world's
        largest trading houses, with assets of U.S. $ 46,402 million
 and
        Net Income of U.S. $ 176 million acquired an equity stake in
 the 
        Company.  Sumitomo has interests in commodities, industrial
 and
        consumer goods.
 
      - Hikal was the first chemical company in India in which
 Sumitomo
        Corpn. has taken equity in 1993 with a 3.62% share.  
 
      - Agreement dated 30th September, entered into between the
 Company
        and Mr. Jai. Hiremath on his appointment as the Managing
 Director
        of the Company.
 
 1994 - The Company subsequently became full fledged Public Limited
        Company by passing a special resolution in the E.G.M. held on
 7th
        July.  Revised certificate of incorporation has been obtained
 on
        16th September.
 
      - In order to part finance the expansion-cum-diversification
        programme, the company had successfully made a public issue
 of
        7,50,000 equity shares of Rs.10/- each at a premium of Rs.
 40/- 
        in October.  The public issue received over whelming response
        from the investors and the offer made to the public was
        oversubscribed by 21.48 times.
 
 1995 - The company has successfully completed the expansion of the
 Meta
        Chloro Aniline and Para Cumidine Plants.
 
      - The company has also undertaken diversification in the field
 of
        Agro Chemicals and has started production of Metoxuron and
 has
        entered into a long term exclusive contract with Searle
 (India)
        Ltd.
 
      - The company issued 593926 bonus shares in the ratio of 1
 equity
        share for every 2 equity shares held in July by apitalising
 free
        reserves of Rs. 59.39 lacs.
 
      - The company issued 445722 equity shares of Rs. 10 each and
 22500
        equity shares of Rs. 10 each for cash at par on rights and
        preferential basis respectively in July.
 
      - New products will be introduced to improve the profitability 
        of the Company.
 
 1996 - Metoxuron plant was successfully commissioned and after trial
        runs commercial production commenced during March.
 
      - The company maintained the highest standards of safety. 
        Effective effluent treatment plant & environment care were
 the
        top priorities.
 
 1997 - Hikal Chemicals Industries Limited is engaged in the
 production
        of chemicals used by the pharmaceuticals, agro chemicals and
        dye industries.
 
      - The company has also launched Metoxuron a technical wheat
        herbicide.  For this product the company has entered into a
        agreement with Searle India, which will buy it for a period
 of
        five years.
 
      - The company has issued 4,00,000 14% Non Convertible
 Cumulative
        Redeemable Preference Shares of Rs. 100/- each on 28th
 October, 
        for 3 years to IDBI Bank Ltd.
 
      - The company has allotted 14,66,700 equity shares of Rs. 10/-
        each, at premium of Rs. 35/- on 26th December, to promoters &
        Sumitomo Corporation, Japan on Preferential allotment basis.
  
 1998 - The company has appointed a representative in England to
        indentify our efforts to increase export.
 
      - The company has entered into a 10 year agreement with Merck &
 Co.
        Inc., U.S.A. for exclusive supply of Thiabendazole on 100%
 buy
        back arrangement.
 
 1999 - The promoters of Hikal Chemicals Industries Ltd (HCIL) and
 the
        Kalyani group, through their subsidiary, are making an
        unconditional cash open offer to all equity shareholders of
        Hikal Chemicals Industries Ltd (HCIL) to purchase 50,300
 shares
        of Rs 10 each at Rs 45 per fully paid up share.
 
      - Hikal is the only company in the world which manufactures TBZ
 and
        the plant has been set up with the technical support of Merck
 & 
        Co Inc.
 
      - Hikal is also in talks for joint ventures (outside Hikal)
 with
        pharmaceutical and agrochemical multinationals (MNCs) where
 the
        technology for new molecules would be transferred to the
        venture by the MNC in exchange for equity.
 
      - The company has undertaken several measures to improve the
        profitability of the Mahad unit.  The company has started
        manufacturing and exporting Isoproturon, which is a forward
        integration of its main product Para Cumidine.  Mahad unit
        received ISO 9000 certification.
 
 2000 - Hikal Chemical Industries Ltd. has informed the BSE that it
 will
        issue one bonus share for every one share held by its
        shareholders.
 
     - Hikal Chemical Industries Ltd. has changed its name to Hikal
 Ltd.
        The Change of name reflects the company's intentions to
 diversify
        into agro chemicals, pharmaceuticals, information technology
 and
        biotech.
 
     - Hikal Chemical Industries Ltd., the only global producer of TBZ
 has been
       awarded the British Safety Council award for world class
 health, safety and
       environmental standards at their Taloja plant near Mumbai.
 
 2002
 
 -Appoints Mr Bimal Kishore Raizada as the Additional Director of the
 company.
 
 2003
 
 -Board approves for the issue of Bonus shares.
 
 -Signs agreement with US based pharmaceutical company to supply
 Gabapentin, a  billion anti-depressant that is going off patent.
 
 -Enters into Long term supply agreement with a leading Corp
 protection company in USA for supply of new generation agrochemical.
 
 2004
 
 -Hikal Limited has informed that the Company had applied for
 delisting of its securities from Ahmedabad Stock Exchange and Pune
 Stock Exchange. Pune Stock Exchange Ltd. has informed the exchange
 that it has approved company's request and the equity shares of Hikal
 Ltd. are delisted from Pune Stock Exchange Ltd. wef January 16, 2004.
 
 -Hikal enters into long term agreement with Bayer CropScience AG
 
 -Hikal acquires European Pharma Distributor Marsing & Co.
 
 -Hikal takes over Danish co
 
 
 2005
 
 -Hikal Ltd has entered into a long term agreement with a leading
 American Company, Crompton Corporation, USA, for manufacture & supply
 of a New Generation crop protection product.
 
 -Hikal joins Pfizer's epilepsy drug marketing row in US.
 
 
 2006
 
 -Hikal Ltd, manufacturer of pharmaceutical and agrochemical
 ingredients and intermediates, has signed an agreement with Germany's
 third-largest chemical company Degussa for supplying pharmaceutical
 intermediates and active pharma ingredients (APIs). 
 
 -The Registered Office of the Company has been shifted from 6, Nawab
 Building , 327, Dr. D. N. Road, Fort, Mumbai-400 001 to 717/718 Maker
 Chamber V, 7th Floor, Nairman Point, Mumbai-400 021.
 
 
 2011
 
 -The Board has appointed Dr. Wolfgang Welter as an Additional
 Director.
 
 -The prestigious “Hikal Cup” Corporate Tennis Tournament for the year
 2011 was played at the Bombay Gymkhana Tennis Courts.
Source : Dion Global Solutions Limited
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