Company History - Indian Aluminium Company
- The Company was Incorporated at Calcutta. The Company Manufacture
aluminium and its semi-fabricated products. The Company acts as
distributors for Alcan Asia Ltd. Some of the products manufactured
alloys, architectural sections, barns, chequered plates, circles,
sheets, foils, stock silos, ingots, irrigation tubing, paste for
and pigments, powder, plates, prefabricated house and sheds, rods,
slugs, strips, structural sections and chemicals such as alumina
calcined, alumina hydrated, carbon electrode paste, etc. The
uses the trade name `INDAL'.
- The Company changed its name from `Aluminium Production Company of
India Ltd.' to Indian Aluminium Co. Ltd.
- British Aluminium Co. Ltd. and Jeewanlal (1929), Ltd. sold their
shareholding in the Company to Alcan Aluminium Ltd., Canada.
- In Jan., 2,580 No. of Equity shares issued on conversion of Loan
Stock. In Feb., 60,08,459 rights equity shares issued (prem. 70
per share; prop. 1:1). 72 No. of Equity shares in 1969 and 312
shares in 1970 allotted on conversion of loan stock.
- On 29th December, 60,07,275 bonus equity shares issued in the
- During January-February the Company issued 31,90,477 equity shares
a premium of Rs 11 per share. As stipulated in the consent of the
Controller of Capital Issues, the Company offered 12,42,132 equity
shares to its Indian shareholders resident in India and registered
20th November, 1973, in the proportion of 1:5. 4,89,670 No. of
shares were reserved for allotment: 2,00,000 shares to Unit Trust of
India, 1,89,670 shares to LIC and 1,00,000 shares to the employees
the Company. The balance 14,58,675 shares were offered for public
- 84,85,455 Bonus Equity shares allotted in prop. 2:5 on 28.11.1977.
- 40,000 pref. shares of Rs 100 each redeemed at Rs 105 per share.
- 16,75,675 shares issued to financial institutions (prem. Rs 8.50
share) in part conversion of loans 11,29,730 shares issued in
conversion of debs. (prem. Rs 8.50 per share).
- Government clearance was received for the Company's pre-sensitized
aluminium lithyo sheet project in technical collaboration with
Brothers, p.l.c., U.K.
- The Company undertook to set up a unit for the manufacture of
professional grade multilayer printed circuit boards at Nanjangud
(Mysore), a backward area in Karnataka State with an annual capacity
30,000 square metres. This project was registered with DGTD.
- During April, the Company offered to the existing shareholders
20,00,000 - 15% secured redeemable non-convertible debentures of Rs
each on rights basis. Due to oversubscription, an additional amount
Rs 1.9 crores was retained. Thus debentures for a total amount of
21.9 crores were allotted. A sum of Rs 5 crores was earmarked for
normal capital expenditures and the balance Rs 16.9 crores was used
augment the long-term resources for working capital.
- A technical collaboration agreement was signed with PCK technology
division of Kollmorgen Corporation, U.S.A.
- During September, the Company offered 9,00,000 - 12.5% secured
redeemable partially convertible debentures of Rs 500 each for cash
par to resident Indian nationals. 4,50,000 debentures were offered
rights basis to the shareholders in the proportion 1 deb.: 36 shares
and 45,000 debentures were offered on preferential basis to
employees of the Company (only 41,045 debentures were taken up).
remaining 4,05,000 debentures along with unsubscribed portion of the
employees and shareholders quota of 71,235 debentures were offered
- The Convertible portion of Rs 200 of each debenture was to be
converted into 10 equity shares of Rs 10 each at a premium of Rs 10
share during November.
- The non-convertible portion of Rs 300 of each debenture was to be
redeemed in 5 equal annual instalments commencing from November
- The equity holding of Alcan Aluminium Ltd. in the Company was
to 39.88% by the issue of partial convertible debentures worth Rs 45
crores to resident Indian nationals.
- 86,57,720 shares allotted in part conversion of 12.5% debentures
- (15 months), a new Company under the name Hirakud Power Company
was formed to set up a 67.5 MW thermal plant. The first boiler
to Hirakud Power Company, Ltd. for its 67.5 MW power plant dedicated
the Hirakud smelter was lit up in March 1993. This project become
fully operational in March, 1994.
- The Company developed several new grades of hydrates and aluminas
use as fillers in plastic and in selected ceramic applications.
Extruded and rolled products in special alloys were developed for
Defence applications. Also, a new process was developed for making
ferric alum which helped to improve productivity at lower costs. A
process route was established for producing white hydrate for import
- 3,34,440 shares allotted in part conversion of 12.5% debentures
- During March, the PCB unit was commissioned. A new Company Orissa
Extrusions Ltd. (OEL) was incorporated as a joint sector project
the Industrial Promotion and Investment Corporation of Orissa Ltd.
project, at a total cost of Rs 15.6 crores, was licensed to
5,000 tonnes per annum of speciality extruded products. Equity
participation of the Company in OEL was to the extent of 25%.
- The Company developed an improved foilstock alloy, high elongation
closure stock and heavy gauge anodising quality circles for making
pressure cookers with a view to improving exports. New process
was developed for flat mill tempered products, pressure cooker
and casting of rolling ingots.
- Intricate and heavy heat sinks were also produced. Other import
substitution efforts were made at development of a new stick
for extrusions, semi-synthetic oil for cutting extruded sections and
paint for selective nitriding.
- It was decided to expand the installed capacity of the Company's
alumina plant at Belgaum from 1,80,000 tonnes to 2,20,000 tonnes.
- The Research & Development wing at Belgaum developed improved
of FRSS fillers for conveyor belting, hydrates for synthetic marble
quality papers, special quality aluminas for technical ceramics and
high alumina refractory intermediates.
- The Centre carried out extensive process studies for retrofitting
predesilication concept to the existing Bayer circuit, leading to
reduction in capital investment for alumina plant expansion project.
- A new precipitation technique was developed to improve alumina
quality. Metal and coating studies were undertaken by the
to enhance surface finish of the steel products. A process was
developed for converting wet scrubker sludge a waste material from
- The Company issued 17.5% non-convertible debentures aggregating Rs
crores on private placement basis: These are redeemable in three
annual instalments beginning from January 1998 and at a premium of Rs
per debenture payable in January 1999.
- The Company introduced a voluntary retirement scheme and training
redeployment of the employees were also being carried out. The
aluminium paste and powder operations at Kalwa were discontinued in
April due to environmental reasons.
- One of the potlines at Alumpuram Smelter which has suffered a
breakdown in early year was reenergised after modernisation.
- A capacity of printed circuit board plant at Nanjangud was being
enhanced by 25,000 sq. mtrs per annum. A capacity of 20,000 TPA was
also being added to the special alumine manufacturing facility at
- With a view to improve the casing rolling and finishing
a major modernisation programme was started at Taloja.
- The Company acquired a 26.5% stake in Annapurna Foils Ltd. (AFL),
Hyderabad (A.P.) under a rehabilitation proposal of BIFR approved in
October by investing in 52,00,000 equity shares of AFL of face value
Rs 10 each for cash at par. The Company provides operational,
marketing and managerial assistance to AFL.
- On 1st March, the Company issued GDRs representing 59,11,330
at a price of US $10.15 per GDR.
- The Company's Belgaum smelter was fully de-energised in August
due to high power tariffs and low metal prices endangering the
viability operations of the entire company.
- 130 electrolytic pots with an annual capacity of 18,000 tonnes of
metal have therefore been put back in operation.
- Hirakud Power Co., Ltd., was amalgamated with the Company. The
Company signed a joint venture agreement with Courtaulds plc group
to establish an aluminium foil based laminated tube plant in Goa.
Indal is to have a 30% stake in the new Company.
- During the year, the Company was actively pursuing the Utkal
project jointly with Hydro Aluminium as and Tata Industries Ltd. for
setting up a export oriented one million tonne p.a. capacity alumina
- The Company undertook to implement the scrap recycling project at
Taloja, Maharashtra next to the Company's existing sheet plant.
- The Company was sponsored by Alcan Aluminium Limited of Canada
(Alcan), the principal shareholder of the Company. Alcan, has also
provided the Company with necessary technical and engineering
facilities in fulfilling its various expansion programmes and in
attaining proficiency in the complicated operations of smelting and
- The Company is pursuing to set up a naphtha based captive power
for the smelter at Belgaum. The company is also in the process of
finalising upgradation and expansion of its sheet and foil
in close consultation with Alcan.
- An electronic engraver was commissioned at the foil plant at Kalwa
for improved quality of printing during the year.
- 23,703,994 Bonus equity shares allotted in prop. 1:2 on 27th
- The Company undertook to set up a naphtha based captive power
for the Belgaum smelter with a capacity of 100 MW on
Transfer (BOOT) basis. Coastal Power Corporation, USA was selected
instal and run the power plant, which would enable the smelter to
to a capacity of 40,000 tpa.
- The Company improved its capacity utilisation of the Cold rolling
mill at Belur and Taloja sheet mill while the Hirakud Smelter
its expanded capacity of 30,000 tpa.
- A project for installation of a sophisticated remelt furnace and
casting facilities at Taloja was launched to addren the quality
requirements of sheet plant.
- The existing plant at Lahordaga for production of Kaolin was to be
produce Kaolin for paper, print and refractory use. Based on this
Company was to instal a 75-100 Ktpa Kaolin plant at Lohardaga in
- A Comprehensive upgradation plan drawn up with inputs from Alcan
being implemented in the sheet mills. A state-of-the-art integrated
information and communication plan was to be implemented. Lease
for mining was awaited.
- During the year, development work on new packaging and building
product applications were initiated and new products were developed
can-ends for packaging fish and processed foods. Apart from this,
non-foil laminates for the tea industry and polyester foil for the
industry were also introduced into the market.
- The Company undertook a major sheet expansion-cum-modernisation
programme at both Belur, West Bengal and Taloja, Maharashtra. The
Company, also proposed to expand the alumina capacity to 510,000
per annum at Belgaum, Karnataka and to 100,000 tonnes per annum at
- The Company, undertook to increase the generating capacity of the
captive power plant at Hirakud from 67.5 MW to 144.5 MW. The
has signed a Memorandum of Understanding with Tata Electric
with this regard.
- During the year, the New Remelt at Taloja, Maharashtra and Caster
Hirakud, Orissa were commissioned within the time scheduled.
- The profitability of rolled and semi-fabricated sectors, including
extrusions was severely affected by the sharp increase in import
duties, demand stagnation and rise in administered costs.
- Indian Aluminium Co Ltd (Indal) has signed a $40 million
loan facility to finance the modernisation of its sheet-rolling
facilities at Belur in West Bengal and Taloja in Maharashtra,
to a company release.
- The US Trade and Development Agency has signed an agreement with
Indian Aluminium Company Ltd granting $500,000 towards a feasibility
study for the expansion and modernisation of the Hirakud aluminium
smelter in Orissa.
- Indian Aluminium Co. (Indal) is negotiating with Bihar State
Development Corporation (BSMDC) for a joint venture thermal power
project in South Bihar.
- Indal had already signed the power purchase agreement with Coastal
Power of the US which was to set up the naphtha-fired captive power
plant on a build-own-operate-transfer (BOOT) basis.
- Indian Aluminium Co. Ltd. (Indal) is reviewing the operations of
its five joint ventures with the aim of controlling costs and
its own margins.
- Indian Aluminium Company (Indal) has signed a new wage settlement
with employees' unions at its Belur Works after months of tortuous
- Indian Aluminium Company Ltd (Indal) has awarded Rockwell
a US-based Rockwell International Corporation a $1 million contract
an automation upgrade at its Taloja plant near Mumbai.
- Indian Aluminium Co. Ltd. became a subsidiary of the Aditya Birla
flagship company Hindalco Industries Ltd. which has taken up a 74.6
cent equity stake in Indal.
- AAIFR approves Scheme of Amalgamation/Merger of Annapurna Foils
-Indal posted marginal hike in the net of Rs.1cr, it has posted after
tax at Rs.117cr
for the year.
-Indal informed BSE that it had shut down the pot lines at its
in Orissa due to severe storm.
-The Indian Aluminium Company, Alupuram, Kalamassery has won
certificates for energy conservation from the State Level monitoring
for energy conservation.
-Indal comes out three outstanding strategy on leveraging ascendency
in the upstream
and downstream business, strengthening portfolio of highvalue
pushing export volumes for the bright future of the company.
-Mr.S.C Jain, nominee of the Life InsuranceCorporation of India has
-Indal decided to de-energize the smelter operations at Alupuram
because of hike
in power tariff.
-Indal has notified to shutdown its smelter plant at Alupuram near
Kochi to KSEB
due to increased power tariff.
-Indal has acquired stake in with Utkal Alumina International Ltd by
increasing from 20% to 55%
-Indian Aluminium Company Ltd has informed that Mr. Aniruddha Sen has
been appointed as Company Secretary of the Company w.e.f. February 1,
2004 with cessation of Shri Sanjeeb Chatterjee as Company Secretary.
Mr. Sen will also act as Compliance Officer.
-Indal acquires 51% equity stake in Suvas Holdings
-INDAL equity shares delisted form Calcutta Stock Exchange