Company History - KCP Sugar Ind Corp
1995 - The company was incorporated and the manufacturing operations
only for one day.
1996 - The 'Scheme of Arrangement' entered between the Company and
'The K.C.P.Ltd' was
approved by the Hon'ble High Court of Madras vide their
order dated 18th March,
whereby the following units of 'The K.C.P. Limited'
stands transferred and vested in
the company from the Effective Date viz., 1st April.
- One equity share in the Company of Rs.10/- each
credited as fully paid up for every two
equity shares of Rs.10/- each fully paid up held by
such members in 'The K.C.P. Ltd.' and
all the Shareholders in 'The K.C.P. Ltd' will be
issued share certificates in the Company.
On completion of the related formalities, the said
shares of the company will be listed on
the Chennai and Hyderabad Stock Exchanges.
- Shri. V.M. Rao, Chief Promoter Director of the Company
has been appointed as the
Chairman and Managing Director for a period of five
years from 2nd April, 1996 to 1st April,
2001 on a remuneration which is within the limits of
Schedule II of the Companies Act, 1956.
- The Company is setting up a Bio technology Institute at
Vuyyuru for increasing the yield
- The first Directors of the Company Shri. V.M. Rao, Smt.
V.P. Durgamba and Smt. Rajeswary
Ramakrishnan retire at the ensuing Annual General
Meeting in terms of Article 119 of the Articles
of Association of the Company and being eligible offer
themselves for reappointment.
1997 - The Board of Directors also wish to inform that the Company
has entered into
seperate Memorandum of Understanding with Central
Electronics Engineering Research
Institute (CEERI), Pilani, Indian Institute of Science,
Bangalore and National Remote
Sensing Agency, Hyderabad for various R & D activities.
- The Company issued/allotted the shares pursuant to the
Scheme of Arrangement
approved by the Hon'ble High Court of Madras on 18th
August 1996 and share
certificates are being issued to the Shareholders who
have surrendered the old
certificates to 'The K.C.P. Ltd'.
- The fully owned Subsidiary 'The Eimco-K.C.P. Ltd' was
awarded 'ISO 9001' in February,
by Lloyds Registrar Quality Assurance for design,
manufacture and service of chemical
process equipment covering solid liquid separation
- During the period under review, the Company has
introduced 'Voluntary Retirement
Scheme' at Vuyyuru and 50 employees have opted for the
same as on 31.03.97, towards
which an amount of Rs.55.61 lakhs has been expended by
- The Industrial relations, though quite congenial was
affected on account of a strike called
by a section of the workers on 27th March, which ended
on 6th April, '97. The strike did not
disrupt manufacturing operations as the Company was able
to effectively maintain the
same level of production with Support from the loyal
1999 - The Company is exploring various avenues for venturing into
by products and further consolidation in the acetic
acid and alcohol units.
- During the year under review, the Company has promoted a
KCP Sugars Agricultural Research Farms Private Limited,
primarily aimed at extensively
carrying out research and development programmes on
sugarcane and other agricultural
2000 - Ms. V. R. Durgamba, Director, has resigned and Ms. Irmgard
been co-opted as a director on the board.
- The Equity Share Capital of the Company stood at
Rs.12,89,30,160 and the Reserves
and Surplus stood at Rs. 61,05,68,115/- as at 31st
- The Company has completed the installation of the high
pressure boilers and
automation of some of the processes at both the Units.
In the coming year, expansion
in the capacity of acetic acid unit from 3300 tpd to
12500 tpd; setting up of a new industrial
alcohol plant of 10000 kl, in addition to setting up of
1 MW power plant from biogas are
expected to be completed.
- Shri. R.K. Talwar and Dr. N.B. Prasad retire by
rotation and are eligible for reappointment.
-Company has splits its Face value of Shares from Rs 10 to Re 1
-Company have renewed and signed a fresh Memorandum of Understanding
with Company's Registrars & Share Transfer Agents, M/s. Integrated
Enterprises (India) Ltd.
-KCP Sugar & Industries Corporation Ltd has Recommended a dividend of
70% (i.e.) Rs.0.70 per equity share.
-KCP Sugar & Industries Corporation Ltd has recommended a dividend
of 100% (i.e. Re. 1.00) per equity share
-KCP Sugar & Industries Corporation Ltd have recommended a dividend
of 85% (i.e.) Re. 0.85 per equity share.