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Oudh Sugar Mills
BSE: 507260|NSE: OUDHSUG|ISIN: INE594A01014|SECTOR: Sugar
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Company History - Oudh Sugar Mills
1932 - The Company was incorporated on 26th July, at Mumbai.
 
 1970 - The solvent extraction oil plant set up at Oudh Sugar Mills
        started working.
 
 1971 - Government of India granted their final approval for the
 Company
        to be associated with a project for refining and 
        fractionation of crude palm oil in Malaysia being set up by
        Edible Products (Malaysia), Berhand.
 
 1972 - Construction work was expected to start by the first week of
        December.
 
 1973 - The first phase of production was scheduled to commence by
        July/August.  The erection work, after some delay, was
        completed in December.
 
 1974 - 77,485 bonus equity shares issued in prop. 1:1.
 
 1976 - The Company purchased the sugar factory at Rosa in U.P.
        belonging to carew & Co., Ltd., having a crushing capacity of
        1,000 tonnes per day.
 
 1980 - Under the scheme of Arrangement, the Company's unit was
        transferred to a new company Akola Oil Industires, Ltd. (AOIL)
 as
        on 1st, July.  As per the terms of the Scheme of Arrangement,
        every holder of one 9.5% preference share of Rs 100 each in
        Oudh Sugar Mills, Ltd. (OSM) was entitled to receive one, 11%
        preference share of Rs 100 each in AOIL and the holder of one
        equity share of Rs 100 each in OSM was entitled to receive 4
        equity shares of Rs 10 each in AOIL.  These 4 equity shares
 of
        AOIL would be in addition to the equity shares of OSM held by
 the
        shareholders.
 
      - 25,000 Pref. shares deemed to stand redeemed on 1.7.1980 as
 per
        scheme of arrangement sanctioned by the Bombay High Court.
 
 1984 - The New Swadeshi Sugar Mills Ltd. was merged with the Company
        with effect from 1st July, 1984 by order of the Bombay High
 Court
        dated 16th July, 1986.  As a result, the Company acquired one
        sugar mill and one distillery at Narkatiaganj, one vegetable
 and
        fruits canning factory at Allahabad and Macfarlane paints
 factory
        at Calcutta.
 
 1985 - 61,155 equity shares allotted withtout payment in cash to
 members
        of New Swadeshi  Sugar Mills Ltd. on its merger with the
 company.
 
 1986 - Hargaon Investment and Trading Co., Ltd., Calcutta and OSM
        Investment and Trading Company Ltd., Calcutta became
 subsidiaries
        of the Company.
 
 1992 - Production and working results were adversely affected as the
        Hargaon distillery had to be closed down for about 3 months
 under
        the orders of the U.P. Pollution Control Board.  Also, the
        production and working of the Narkatiaganj distillery was
        affected due to non-availability of molasses.
 
      - Production and sales of the fruit and vegetables, canning
 factory
        were lower compared to previous year due to poor offtake by
 the
        Defence Purchase organisation and lack of export orders.
 
      - During 1992-94, production sales and working results of
 solvent
        extraction plant at Silapur were adversely affected on account
 of
        poor availability of raw material and fluctuation in the price
 of
        oil and oil cakes and increase in sales tax by U.P.
 Government.
 
      - Production, sales and working results of Macfarlane paint
 factory
        was reported to be satisfacotry.
 
 1994 - The Hargaon distillery continued to be affected due to
        non-allotment of sufficient mollasses but the production and
        working results of Narkatiaganj improved.
 
      - The Fruit & Vegetable Canning unit received substantial order
        for exports as well as from the defence department.
 
      - Though the sales were better compared to previous year, the
        working results were adversely affected due to increase in
 prices
        of raw materials and other inputs without corresponding
 increase
        in selling prices on account of prevailing competition.
 
      - @ 44 Quarter Ord. shares issued. Bearer Ord. shares coupons of
 Rs
        25 & 12.50 each fully paid. 1,30,068 rights equity shares
        allotted at a prem. of Rs 350 per share.
 
 1995 - Sales & working results of the Hargaon distillery were
 adversely
        affected as the distillery operated intermittently due to
        depressed market and poor off-take on account of the huge
        production of industrial alcohol.  However, the production,
        sales and working results of Narkatiaganj distillery
 continued
        to be better.
 
      - The Solvent extraction plant at Silapur worked only, for a
 period
        of 73 months on account of poor availability of raw material
        and fluctuation in prices of oil and oil seeds.  During the
 year,
        the Company decided to close down the factory.
 
      - Production and Sales were better but the working was affected
 due
        to prevailing competition and increase in the cost of
 production
        without corresponding increase in selling prices.
 
      - Due to steep fall in the orders mainly from Wagon & Shipping
        industry the unit suffered.  Despite all efforts to improve
 the
        working of the factory, the unit continued to incur losses.
        Hence lease of the factory was terminated effective
 30.4.1996.
 
      - Bearer Ord. shares of Rs 25 & 12.50 each fully paid.  @ 44
        Quarter Ord. shares issued 6,92,386 rights equity shares
 allotted
        at a prem. Rs 400 per share prop. 2:1.
 
 1996 - Production and sales at Hargaon improved significantly as
        compared to last year due to U. P. Governments' decision to
        allow export of alcohol from U. P. helped the industry to
        reduce its inventories and improved capacity utilisation.
 
      - @ 44 Quarter Ord. shares issued. Bearer Ord. shares coupon of
 Rs
        25 & Rs 12.50 each fully paid.
 
 1997 - Production at Hargaon distillery could not improve due to
 U.P.
        Government's delay in announcing Molasses and Alcohol policy
        and shortage of molasses during second half of the year.  The
        performance of Narkatiaganj distillery was satisfactory.
 
      - Performance of the factory was adversely affected due to
 steep
        fall in defence supplies.  However, due to change in the
 brand
        name from `ACCOS' to `MORTON' and vigorous sales drive sales
 of
        the factory has picked up.
 
 2002-K K Birla resigns from Directorship of Oudh Sugar Mills.
 
 2003 - Delisting of ordinary shares from The Uttar Pradesh Stock
 Exchange Association Limited, Kanpur.
 
 2007
 
 -Oudh Sugar Mills Ltd had appointed Godbole as an Additional Director
 of the Company w.e.f. April 23, 2007.
 
 2008
 
 The company has issued rights in the ratio of 22:100 at a premium of
 Rs.50/- Per Share.
Source : Dion Global Solutions Limited
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