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Atul > Company History > Dyes & Pigments > Company History of Atul - BSE: 500027, NSE: ATUL
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Atul

BSE: 500027|NSE: ATUL|ISIN: INE100A01010|SECTOR: Dyes & Pigments
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Dec 13, 13:09
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31.05 (0.78%)
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Company History - Atul
YEAR                       EVENTS
 1975 - The Company was Incorporated on 11th December, at Ahmedabad. 
 It
        was originally promoted by Gujarat Industrial Investment
        Corporation Ltd.  The company manufacture synthetic cresol
 and
        its by-products viz., sodium sulphite, sodium sulphate,
 gypsum
        and soda ash, dyestuff, chemicals, drugs and pharmaceuticals
 etc.
 
      - An agreement was entered into with Mitsui & Co. Ltd. (MBK),
        Honshu Chemical Industry Co. Ltd. (HCI), and Mitsui
 Engineering
        & Ship-building Co. Ltd. (MES), all of Japan, for the supply
 of
        technical know-how and basic engineering designs for the
 plant
        to produce synthetic cresols by sulphonation process.
 
      - 7 Equity shares subscribed for by the signatories to the
        Memorandum of Association; 8,47,593 No. of equity shares
 allotted
        to Raipur Mfg. Co., Ltd. 10,000 Pref. and 15,97,400 No. of
 equity
        shares offered at par to the public during Jan./Feb. 1978. 
 Pref.
        shares redeemable at 3 months' notice not later than 15 years
        from 8.4.1978.
 
 1979 - The erstwhile Atul Products, Ltd. had issued 7.75% mortgage
        debentures of the face value aggregating Rs 450 lakhs and
        maturing during the year.  The rate of interest increased to
 11%
        per annum with effect from 1st January, 1980.
 
      - 3,26,000 Rights Equity shares issued in prop 1:10.  Arrears:
 of
        Rs 23,215.
 
 1983 - The erstwhile Atul Products, Ltd. privately placed
 2,00,000-15%
        non-convertible secured debentures of Rs 100 each aggregating
 Rs
        2 crores.
 
 1985 - A scheme of Amalgamation of the erstwhile Atul Products Ltd.,
        with Gujarat Aromatics Ltd. (GAL) was approved by the
 respective
        shareholders on 21st December.
 
      - In order to augment working capital resources, 3,90,000 - 15%
        non-convertible secured debentures of Rs 100 each were
 privately
        placed with UTI.
 
 1986 - The shareholders of the Company also approved the reduction
 of
        equity capital and then consolidation of the reduced shares at
 an
        extra-ordinary general meeting held on 7th January.
 
 1987 - The two new products xylenol and LABS introduced during the
        previous year were discontinued due to their poor
 performance.
        Another two new products viz., pure meta cresol and pure para
        cresol, were introduced during the year.
 
      - Pursuant to the Scheme of Amalgamation of Atul Products, Ltd.
        with Gujarat Aromatics, Ltd., the Company's production and
 sales
        are reported under two units viz., the Atul unit and
        Ankleshwar/Aromatic unit.
 
      - The Scheme of Merger was approved by the Department of
 Company
        Affairs.  Approval of the Gujarat High Court was received on
        20.8.1988.
 
 1988 - As per the Scheme of Amalgamation approved by the High Court
        Gujarat on 20th August, Atul Products, Ltd. was merged with
        Gujarat Aromatics Ltd.
 
      - Effective from 14th September, the name of the Gujarat
 Aromatics
        Ltd., was changed to Atul Products, Ltd.
 
      - As per the Scheme of Amalgamation approved by the High Court
        Gujarat on 20th August, Atul Products, Ltd. was merged with
        Gujarat Aromatics Ltd.  Effective from 14th September, the
 name
        of Gujarat Aromatics Ltd., was changed to Atul Products, Ltd.
 
      - Equity capital reduced as per the Gujarat High Court Order
 dated
        20.8.1988.  75,00,000 No. of equity shares then allotted
 without
        payment in cash to members of Atul Products, Ltd. on its
 merger.
 
 1989 - The R&D unit was supplemented by addition of an unit for
        treatment of effluent from new products.
 
      - It was proposed to set up projects for carbamate group of
        pesticides and 3,4,5 - trimethoxy benzaldehyde in the near
 future
        subject to Government approvals.
 
 1990 - Cumulative Redeemable Pref. shares redeemed and authorised
        capital reclassified.  19,64,650 shares issued as Bonus in
 prop.
        1:4.
 
 1991 - During October, the Company issued 15,87,300-12.5% secured
 fully
        convertible debentures of Rs 120 each on rights basis in the
        proportion 8 debentures: 50 No. of equity shares held and
        9,82,325-17% secured redeemable non-convertible debentures of
 Rs
        150 each on rights basis in the proportion of 1 debenture: 10
 No.
        of equity shares held.
 
      - Only 8,60,208 debenture taken up.  The balance 1,12,300
        debentures were allotted to Mutual Funds/Financial
 Institutions.
        Additional 2,38,095 fully convertible debentures were
 allotted
        to retain oversubscription (Allotment of 279 debentures was
 kept
        in abeyance under section 206-A).
 
      - Another 79,360-12.5% fully convertible debentures of Rs 120
 each
        and 49,125-17% non-convertible debentures of Rs 150 each were
        offered to the employees.  Only 1,096 NCDs were allotted to
        Financial Institutions/Mutual Funds and the balance 48,029
 NCDs
        were allowed to lapse. 
 
      - Each fully convertible debenture of Rs 120 each will be
 converted
        into two equity shares of Rs 10 each at a premium of Rs 50
 per
        share after the expiry of 6 months from the date of
 allotment.
 
      - Each non-convertible debenture of Rs 150 each will be redeemed
 in
        three equal instalments at the end of the 6th, 7th and 8th
 years
        from the date of allotment along with the premium of 5%
 payable
        with the final instalment.
 
 1993 - The Company issued 27,26,552-14% secured fully convertible
        debentures of Rs 180 each for cash at par on rights basis in
 the
        proportion of 5 debentures: 25 No. of equity shares held.
 (all
        were taken up).
 
      - Another 1,36,328-14% fully convertible debentures of Rs 180
 each
        were offered to the employees. (only 38,203 taken up).
 
      - Part A of Rs 45 of each debenture was converted into one
 equity
        share of Rs 10 each at a premium of Rs 35 per share on
 allotment
        of debentures.  Accordingly 27,64,755 shares were allotted.
 
      - Part B of Rs 135 of each debenture was converted into three
        equity shares of Rs 10 each at a premium of Rs 35 per share
 on
        1st October, 1994.  Accordingly 82,62,266 shares allotted.
 
      - Ameer Trading Corporation, Ltd., (wholly owned) is a
 subsidiary
        of the Company.  Akshar Investments Pvt. Ltd., and Cibatul,
 Ltd.
        are the subsidiaries of Ameer Trading Corporation, Ltd.
 
      - Atic Colors Inc. a subsidiary of Atic Industries Ltd. became
        subsidiary of the Company following the merger of Atic
 Industries
        Ltd. with the Company.
 
 1994 - Plants relating to the manufacture of para cresidine and para
        anisicaldehyde were commissioned.
 
 1995 - Effective 1st April, Atic Industries Ltd. was amalgamated
 with
        the Company.
 
      - 9,00,000 Pref. shares issued during the year.
 
 1996 - The new plant for manufacture of 3,000 TPA of para cresol
 would
        be commissioned.
 
      - The name of the Company was changed from Atul Products Ltd.
 to
        Atul Limited.
 
      - 335 shares issued.  50,000 preference shares issued during
 the
        year.
 
 2002
 
 -Mr A N Palwankar resigns the Directorship of the company and Mr. M K
 Tandon has been taken on the Board.
 
 -Appoints S M Datta as the Additional Director of the company.
 
 
 2004
 
 -Atul Ltd. has informed that Dr. H Kaiwar, Director of the Company
 has resigned from the BoD's of the Company
 
 2007
 
 -Atul Ltd has appointed Mr. Sunil S Lalbhai, Managing Director & CEO
 as Chairman of the Company with effect from August 29, 2007.
 
 2010
 
 - Atul Limited has appointed Mr. V S Rangan as an Additional Director
 of the Company with effect from July 19, 2010. He will be an
 Independent Director.
 
 2011
 
 - Atul and MDohmen collaborate to offer a complete solution to valued
 customers
 
 -Wholly Subsidiary of Atul Limited namely Atul Europe Limited has
 acquired 88% shares of D.P.D. Ltd {an U.K. Company)
 
 -'Atul - Rudolf joint venture' 
 
 2012
 
 -'Inauguration of ATUL Aromatic Plant by Honourable Chief Minister of
 Gujarat,Shri Narendra Modi'
 
 -'Inauguration of Date Palm Tissue Culture Laboratory by Honourable
 Chief Minister of Rajasthan Shri Ashok Gehlot'.
 
 2013
 
 - Mr. R. A. Shah has been appointed as an Additional Director of the
 Company.
 
 - The Company has recommended a dividend of Rs. 6.00 per share
 (60%).
 
 
 2014
  
 - Mr Sunil Lalbhai, Chairman and Managing Director of Atul, has been
 named in the top 100 CEOs of India by BT-PWC India.
 
 - Atul Ltd secures first position for Western India in Ruby Jubilee
 40th National Competition for Young Managers 2014.
 
 - Atul Ltd, at its board meeting held on December 05, 2014 has
 decided to merge its associate company Amal Ltd with itself.
 
 2015
 -IIA Excellence Award 2015 India for Innovation
 -National Quality Excellence Award 2015 for environmental
 sustainability
 -National Quality Award 2015 for creating wealth from waste
 -100 Most Talented Global HR Leaders Award 2015 for excellence in
 Human Resources       
 -Atul Ltd has changed Registered Office of the Company located at
 Ashoka Chambers, Rasala Marg, Ellisbridge, Ahmedabad - 380006,
 Gujarat is shifted within the same city (Ahmedabad) to Atul House, G
 I Patel Marg, Ahmedabad 380014, Gujarat, India.
 
 2016
 -- Company Purchases 49% Equity Shares in Anchor Adhesives Private
 Ltd.
                                                           
 2017
 - Atul Draft Scheme of Merger of Amal Ltd with Atul Ltd.
Source : Dion Global Solutions Limited
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