1961 - The Company was Incorporated on 26th April, at Hyderabad.
Company's main objects is to manufacture detonators,
fuse, explosives, accessories, safety fuse, blasting
exploders and other accessories and equipment required
1962 - All shares subscribed for by directors, promoters, etc.
1963 - In December, 1962, 5,000 rights shares offered at par in
In June, 15,000 shares offered at par to the public.
1965 - 15,000 right equity shares issued at par in prop. 1:2.
1967 - The scheme of Amalgamation of Sapeic India Ltd., with the
was approved by the shareholders of both the companies
meetings held on 8th May and was subsequently approved by
- On 24th June 1967, 45,000 No. of equity shares issued at
M/s. Atlas Chemical Industries in USA against payment in
1968 - 5,000 No. of equity shares issued to members of M/s. Sapeic
Ltd. upon its amalgamation with the company and 5,000
equity shares issued to Atlas Chemical Industries Inc.,
so as to
maintain their equity holding of 50%.
1969 - The Company acquired controlling interest in the Mysore
Industrial & Testing Laboratories Ltd., Bangalore (MITL)
68.76% of the paid up capital of the company as on 30th
1972. The subsidiary was amalgamated with the Company
effect from 1st July, 1973.
1970 - Petn project (Rourkela) unit was commissioned for production
- In Feb. shares sub-divided. 5,00,000 bonus shares then
issued in prop. 1:2.
1972 - Mysore Industrial & Testing Laboratories Ltd. (MIT
was amalgamated with the Company with effect from 1st
July. As a
result, the range of pharmaceutical products manufacture
Laboratories Ltd., was added to the Company's business.
- Dow Chemical Co., U.S.A purchased 40% equity capital in
company from ACI America Inc. The Company entered into
collaboration agreement and an explosive licence and
collaboration agreement with Dow Chemicals Co.
- 43,005 shares issued to members of MIT Laboratories
payment in cash on its merger.
1973 - The company decided to enter into the field of agro chemicals.
These activities were to be pursued through a small
viz., Pacific Chemicals Hindustan Ltd., sponsored by the
Chemical Co., which became a 100% subsidiary of the
plant was set up at Sahidabad near Delhi for the
DOW patented pesticides formulations viz., Dalapon,
The formulation of these products from imported
commenced during 1974.
1974 - The Company received the consent of the Controller of Capital
Issues for allotting to these collaborators 28,670
equity shares of Rs.10 each at a prem. of Rs.10.75 per
maintaining their 40% equity participation in the paid
of the company consequent upon the amalgamation of MIT
Laboratories Ltd., with the company.
- The name of the company was changed from IDL Chemicals
effect from 14th May.
1975 - The name of Pacific Chemicals Hindustan Ltd., a subsidiary
changed to IDL Agro Chemicals Ltd., with effect from
- Subsequently, the Company ceased its manufacturing and
activities. The leased land and its buildings were
taken over by
the parent company, ie., IDL Chemicals Ltd., for bitumen
- Dow Chemicals Co. Inc. U.S.A., decided to divert their
in the field of explosives. Consequently, the company
into a collaboration agreement with Nitro Nobel AB,
acquired 40% equity participation (6,28,670 No. of equity
in the company from Dow Chemical Co. Inc., U.S.A.
- 28,670 shares issued to Dow Chemical Co. USA, to maintain
holding at 40%.
1976 - 15,71,675 Bonus shares issued in prop. 1:1 in Oct. 1976.
1978 - In Metal Cladding division necessary facilities were created
Hyderabad for the new business of explosive cladding.
- The Company received a letter of intent for the
manufacture of 30
million metres of detonating fuse and 1,440 tonnes of
Bhiwandi near Mumbai on the Company's land.
project for 30 million metres of detonating fuse was not
considered feasible in view of the insistence of
an export guarantee.
- A new company named Rajasthan Explosives and Chemicals
formed as a joint venture for the manufacture of
accessories. The equity participation in this new
Rajasthan State Industrial and Mineral Development
Ltd. (RIMDC), the company and its employees was to be
1979 - Similar facilities within the Rourkela factory were
- 31,43,350 bonus shares issued in prop. 1:1.
1980 - There was an accident in Rourkela plant. As a result, the
modernisation work could only be completed after some
plant was commissioned again during the last quarter of
1981 - MIT Laboratories Ltd., division was transferred to ASTRA-IDL
Bangalore from the close of business on 19th October.
- Industrial licence for the PETN project was received.
1984 - Another joint venture was promoted under the name Eastern
Explosives & chemicals Ltd., in association with West
Industrial Development Corporation Ltd., for the
explosives. This project successfully completed trial
- ASTRA-IDL Ltd., is a joint venture company in Bangalore
manufacture of pharmaceuticals.
1985 - Commercial production was delayed due to non-availability of
nitric acid from the only source in the country.
- The Company received necessary approval from Govt. for
a bitumen emulsions plant at Sahibabad in Ghaziabad
- The R&D wing developed technology for sodium azide,
for new types of process in delay element manufacture.
- The company privately placed with UTI 3,00,000 - 15%
non-convertible debentures of Rs.100 each. The
redeemable at a prem. of 5% at the end of 7 years from
1987 - The bitumen emulsions plant was commissioned in the later
The Company proposed to put up a second unit in the
parts of the country. Major portion of the sale was
contract to Govt. organisation in road industry.
- With a motive to diversify into gypsum products for
industry, the company associated itself with Coromandel
Ltd. (CGL), by contributing Rs.35,000 to the equity
CGL. The Company ie., CGL has technical collaboration
Salzgitter of West Germany. The project was being
Visakhapatnam in Andhra Pradesh.
1988 - The first mixed bulk explosives unit set up at Singrauli in
Madhya Pradesh was commissioned in February with a
tonnes per annum.
- The Company received a letter of intent for 150 tonnes of
Vanillin and 50 tonnes of Ethyl Vanillin. Meanwhile,
permitted the company to sell products manufactured in a
plant upto 9 tonnes.
- In January, a new company under the name PFW-IDL Arom
incorporated as a joint venture with PFW (Holland) BV to
manufacture food flavour chemicals.
1989 - A pilot plant was set up. But the process at pilot plant was
found to be uneconomical for commercial scale.
permitted the Company to sell products manufactured in a
plant upto 9 tonnes.
- The synthetic organic chemicals group developed several
in oil field and aroma chemicals.
- Consequent upon the acquisition of M/s. Atlas Chemical
Inc., U.S.A, the Company's collaborators by Imperial
Industries Ltd., U.K., the company had to seek new
collaboration. The Company, therefore, finalised a
agreement with M/s. Dow Chemical Co., Midland,
The Govt. of India aproved this agreement subject to
Co., acquiring 40% equity (6,00,000 equity shares of
in the company out of 50% held by the existing
The balance 10% were to be offered to the UTI. The
however, proposed to offer the balance 10% equity to
employees of the Company.
1990 - The Company suspended the operations of the Bitumen Unit as
DGS&D rates were not remunerative. The operations
suspension till 1991 as no favourable price was granted
Company's product by DGS&D.
- The joint venture company received a letter of intent,
tonnes of liquid flavours, 350 tonnes of
flavours and 750 tonnes of aroma chemicals, to be
Medak district of AP. Foreign collaboration agreements
- The Company privately placed 14% non-convertible
Army Group Insurance Fund and financial institutions
Rs.3 crores. Debentures of Army Group are to be
redeemed at a
prem. of 5% at the end of 7 years from the date of
Debentures of financial institutions are to be redeemed
equal annual instalments beginning at the expiry of 5th
the date of allotment.
1991 - Turnover of this division declined to Rs.25 lakhs mainly due
resource constraints faced by the public sector units in
first half of the year.
- Research and Development efforts were on to make the
- The name of Coromandel Gypsum Ltd., was changed to
- The Company received a letter of intent for oil field
project in Thane district of Maharashtra.
- Due to certain structural changes in the organisation of
proposed technical collaborators of the Company, a
was anticipated in the implementation of the project.
- The company privately placed with LIC Mutual Fund 14%
non-convertible debentures aggregating Rs.150 lakhs.
debenture would be redeemed at the end of 7 years from
of allotment at a prem. of 5%.
1992 - The Company transferred all its holdings in Rajasthan
& Chemicals Ltd., to an entrepreneur.
1993 - Subject to necessary approvals being obtained. Gulf Oil India
Ltd. is to set up a joint venture Company with Sipal
for manufacture of care can products. IDL Chemicals
Ltd., is to
invest upto 25% in the said joint venture to be named on
Casex India Ltd..
1994 - The Company started the floriculture project in about 4
of land in Yelahanka with the cultivation of Rose plants
export of cut Roses.
- 14,11,300 No. of equity shares of Rs.10 each for cash at
of Rs.34 per share were allotted to (NNIBV), Netherlands
increase their shareholders from 40% to 50%.
1995 - Effective 31st October, the name of the Company was again
from IDL Chemicals Ltd. to IDL Industries Ltd.
- On 23rd April, the Company has redeemed the debentures
which were issued in
1986, aggregating to an amount of Rs.240 lakhs held by
Unit Trust of India in the Company.
- The Company has started the Floriculture Project in about
4 hectares of land in Yelahanka
with the cultivation of Rose Plants for export of cut
1996 - The Company's name has been changed to IDL INDUSTRIES LIMITED
the existing name IDL Chemicals Limited with effect
from 31st October, 1995.
1997 - 93,005 shares are allotted as fully paid up pursuant to a
contract without payment
being received in cash. 52,15,025 shares are allotted
as fully paid up bonus shares by
capitalisation of Reserves.
- 16.5% Non-Convertible Debentures privately placed with
Fund amounting to Rs. 150 lakhs is secured by an
equitable mortgage of
immovable properties of the Company. These debentures
are to be
redeemed in full at a premium of Rs. 5, i.e., Rs.105 per
the end of the 7th year from the date of allotment made
viz. 14th June, 1991.
- During the year, the Company gave an inter-corporate
Rs.50 lakhs which was not repaid by the party on due
1998 - During the year the Wind Mill Division has generated 97733
Units though it was
- The Board of Directors has appointed Mr. Subhas S.
Pramanik as Whole Time
Director and designated him as Dy. Managing Director of
the Company, subject to
approval of the Shareholders of the Company at the
37th Annual General Meeting.
1999 - In terms of the final BIFR Order No.191/97(II) Dated 8th
1999, IDL Salzbau (India) Limited (ISIL), a company
promoted by the
Company in 1992 was merged in the Company with effect
from 31st March,
- IDL Industries Limited would issue one share of Rs. 10/-
every 25 shares of Rs. 10/- each held by the
IDL-Salzbau (India) Limited as of the date stipulated
for exchange of
the said shares.
- The appointment of Mr Subhas S Pramanik as Managing
Director with effect
from 8th July, 1999, is subject to approval of the
shareholders of the Company.
-Two key promoters of Astra-IDL Hindujas-owned IDL Industries and
Anglo-Swedish drug major AstraZeneca agreed to AstraZeneca’s
acquisition of IDL’s 25.75 per cent in the company.
-It's signed, sealed and delivered. IDL Industries has completed the
transfer of its 25.75 per cent equity in pharma company Astra-IDL to
Anglo-Swedish multinational AstraZeneca years after the two companies
first began talking about parting ways
-IDL Industries Ltd has approved in principle a proposal for the
merger of Gulf Oil India Ltd with the company.
- The board of Gulf Oil Limited and IDL Industries Limited have
approved 2:1 ratio for the merger of both the companies.The merger
ratio approved by the companies involves issue of one equity share of
IDL for every two shares of Gulf Oil.
- High Courts of Andhra Pradesh and Bombay have approved the merger
and the detailed orders for filing with the Registrar of Companies of
the states of Andhra Pradesh and Maharashtra are expected shortly.
-Gulf Oil Corporation Ltd (GOC), together with Oil Bangladesh Ltd
(OBL) has set up a joint venture (JV) company, called Gulf Oil
Bangladesh Ltd (GOBL)
-Signed an agreement on July 3, 2003, with Oil Bangladesh Ltd for
forming a joint venture at Bangladesh.
-Entered into an agreement to sell and develop the land located at
Malleswaram through a Joint venture with M/s Abhishek Developers, a
part of the Marnti Group, at Bangalore
-Flagship of the Hinduja group has set up a joint venture with
Tarapur Grease Industries Pvt Ltd and PT Tawang Swasti Rawikara of
Indonesia to manufacture as well as to sell its slew of lubricants
and greases in the Indonesian market.
-Unveiled a new range of car care products which includes dashboard
polish, glass and crystal cleaner, multi-functional fluid,
multi-purpose grease for rotating surfaces, a/c cleaner, inflates &
- A powerful blast at IDL Ltd, a part of the Gulf Oil Corporation,
killed seven workers and wrecked damage on some of the plant
facilities in Kukatpally area on Nov 25.
-Appointed Mr Justice A. Gopal Rao, retired High Court Judge, as a
one-member commission of inquiry into the recent blast in one of the
units of Gulf Oil Corporation Ltd.
-Gulf Oil Corporation has appointed RB Ananth, a mechanical engineer,
as vice-president (VP) of its operations.
- Gulf Oil Corporation Ltd (GOCL) acquires manufacturing facility of
a bulk drug unit at Hyderabad for producing active pharmaceutical
ingredients (APIS) and speciality chemicals.
-Gulf Oil receives Capexil export award for '04-05
- The Company has splits its face value from Rs10/- to Rs2/-.
-Gulf Oil Corporation Ltd has recommended payment of Dividend @ Rs
1.50 per share
- IDL Speciality Chemicals Ltd, a 100% subsidiary of the Company, has
entered into a definitive agreement to sell the API undertaking to
-Company has entered into a Joint Development Agreement for
development of the 39 acres 27 guntas of the Company's Bengaluru
(Yelahanka) land with Hinduja Realty Ventures Ltd
-Gulf Oil Corporation Ltd Issues Rights in the Ratio of 1:3
-Gulf Oil Corporation Ltd has recommended payment of Dividend Rs. 2/-
-Gulf Oil Corporation enters agreement with Hinduja Estates for
developing Hyderabad land
-Gulf Oil Corporation surges over 11% on land development pact with
-Gulf Oil acquires global market leader in Metal Working Fluids,
US-based Houghton International Inc. for USD 1045m.
-Gulf Oil launches synthetic motor oil for utility vehicles, luxury
cars for the year 2013.
-Gulf Oil to demerge the lubricants business into a separate
-Gulf Oil International Mauritius (GOIMI) acquires majority stake in
Gulf Oil Corpporation for the year 2014.
-Gulf Oil Corporation Demerger into Two Listed Companies for the year
-Board recommended a Dividend of 125%.
-The Company has changed its name from Gulf Oil Corporation Ltd to
GOEL Corporation Ltd.