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Pidilite Industries > Company History > Chemicals > Company History of Pidilite Industries - BSE: 500331, NSE: PIDILITIND
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Pidilite Industries

BSE: 500331|NSE: PIDILITIND|ISIN: INE318A01026|SECTOR: Chemicals
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Dec 06, 16:00
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Company History - Pidilite Industries
1969
 
 - The Company was incorported as a private limited company on 28th
 July under the name of Parekh Dychem Industries Pvt. Ltd., to acquire
 and take over on a going concern the business carried on by a
 partnership firm M/s. Parekh Dychem Industries established in 1961
 and having a factory in Mumbai.  The Company was promoted by
 Balvantray Kalyanji Parekh along with his brothers.  The brand names,
 are being Fevicol, Fevibond, Fevigum, Pidifix, Pidivyl, Pidicryl,
 Acrolise, etc. 
 
 - The Company undertook to set up synthetic resin project with a
 capacity resin project with a capacity of 3000 TPA at Mahad
 Industrial area in Raigad district, Maharashtra.  Also undertook to
 set up a constructions chemicals project at Taloja industrial area,
 Taloja, Maharashtra.
 
 1984
 
 - Three other companies in the same group viz., Kodivita Pvt.  Ltd.,
 erstwhile Pidilite Industries Ltd., and Triveni Chemicals Ltd. were
 amalgamated with the Company effective 1st July, 1st April 1989 and
 1st April 1992 respectively.
 
 - Effective 1st July, Kondivita Pvt. Ltd. amalgamated with the
 Company after necessary approvals.  The shareholders of erstwhile
 Kondivita Pvt. Ltd., were allotted 41,000-15% preference share of Rs
 10 each and 19,500 shares of Rs 10 each.
 
 - 54,000 I and II Pref. - 4% shares allotted to promoters.  26,000
 No. of equity shares allotted to promoters originally: 26,000 Rights
 shares issued in prop. 1:1 in 1980, 52,000 bonus shares issued in
 prop. 1:1 in 1981.
 
 1985
 
 - I & II Pref. 4% shares redeemed. 12% redeemable shares upgraded to
 15%.  19,500 No. of equity shares and 41,000-15% Pref. shares
 allottee to Kondivita Pvt. Ltd. on amalgamation.  54,000-15% Pref.
 shares allotted to promoters & in lieu of 1st and 2nd 4% Pref.
 shares.
 
 1986
 
 - The Name of the Company was changed to PDI chemicals private
 limited on 1st July, and then to PDI chemicals limited, on 28th
 October, 1988. Name was once again changed to Pidilite Industries
 Ltd., on 21st February, 1990.
 
 1989
 
 - Effective 1st April, Pidilite Industries Ltd. was amalgamated with
 the Company.  As per the scheme of amalgamation, 1,93,500 No. of
 equity shares of Rs 10 each and 72,000-15% preference shares of Rs 10
 each were allotted to the shareholders of erstwhile Pidilite
 Industrial Ltd.
 
 1992
 
 - As per the Scheme of Amalgamation approved by High Court of Mumbai,
 Triveni Chemicals Ltd., (TCL) was merged with the Company effected 1st
 April.  Accordingly 90588 No. of equity shares of Rs 10 each and
 40,000-15% preference shares of Rs 10 each were allotted to the 
 erstwhile shareholders of TCL.  38,49,034 shares allotted in prop.
 72:10 to promoters on 29.1.93.
 
 1993
 
 - 15,36,378 shares issued at a premium of Rs 100 per share in
 October. Of which 1,50,000 shares issued on preferential allotment
 basis to Viny Chemicals India Ltd. (only 1,35,000 shares taken up). 
 Balance 13,86,378 shares along with 1,50,000 shares not taken up were
 issued to
 the public (all were taken up).
 
 1994
 
 - The projects for SBR Latices, AZO Pigments and Carbazole Dioxiene
 Violet Pigments were commissioned.
 
 - Apuraj Chemicals Ltd., was amalgamated with the Company.  As per
 the scheme of amalgamation, 66,000 No. of equity shares of Rs 10 each
 were allotted to the shareholders of erstwhile Apuraj Chemicals Ltd.
 
 - Vapkon Finance & Industries Ltd., Fevicil Adhesives & Chemicals
 Ltd. and Pidifin Finance and Investment Ltd., are subsidiaries of the
 Company.
 
 - 60,000 No. of Equity shares of Rs. 10 each to be issued and
 allotted to equity shareholders of the erstwhile Apuraj Chemicals
 Ltd. pursuant to the scheme of amagalamtion.
 
 1995
 
 - Expansion project at Taloja was commissioned with an overall plant
 capacity of 2400 TPA of construction chemical.
 
 - The Company's technical collaboration agreement with Schomburg &
 Co., KG.  Germany for transfer of technical process know-how and
 specifications of the plant etc., was extended till 8th September.
 
 1996
 
 - The first phase of grass root plant for manufacture of synthetic
 resins of various types was commissioned in March at Mahad with a
 capacity of 7800 TPA.  In the second phase, a loop process plant for
 continuous emulsion polymerisation was to be commissioned.
 
 - Introduction of several new products in technical collaboration
 with M/s. Crown Berger Ltd., U.K.
 
 - The Company allotted 61,17,200 No. of equity shares of Rs 10 each
 as bonus shares in the ratio of 1:1.  3,800 shares were kept in
 abyeance due to dispute relating to the title of the same.
 
 1997
 
 - 600 bonus shares allotted from Bonus Share Issue Suspence Account.
 
 - The company has set up three wind mills of 230 kv each at Village
 Pransla near Dhank In Gujarat.
 
 - The Pedilite Industries Limited, manufacturer of the popular
 Fevicol brand of adhesives, is actively scouting around for buyers
 for its chemical and specially resins business.  The company has been
 in talks with several international players in a bid to either sell
 off the
 business or enter into a joint venture.
 
 1998
 
 - Triveni Chemicals, another group company was also merged with PIL
 in 1992.  PIL's consumer products division was set up in 1984.
 
 - The Board of Directors gave their approvals for the amalgamation of
 PGP Engineering works Ltd and Pidilite Finance Ltd. with the company
 itself effective 1-4-99.  Also, Nebula Chemicals Ltd.  manufacturers
 of certain grades of adhesives, was to be amalgamated with the
 company
 subject to necessary approvals.
 
 - 2,800 bonus shares kept in abeyance allotted.
 
 1999
 
 - Pidilite Industries is re-engineering itself into a pure
 brand-oriented marketing company and is hiving of its manufacturing
 facilities into a joint venture with a strategic partner.
 
 2000
 
 - The Company has acquired from Mahindra Engineering & Chemical
 Products Ltd (MECP), subsidiary of Mahindra & Mahindra Ltd, their
 adhesives and sealants business consisting of the brand M-Seal and
 Mr. Fixit along with goodwill of MECP's adhesives and sealants
 business.
 
 2001
 
 -Pidilite Industries Ltd has posted 5.76% lower net profit at
 Rs.12.76cr for the second quarter as compared to Rs.13.54cr in the
 same period last year.
 
 2002
 
 -Income Tax Department has issued a notice to Pidilite Industries
 Ltd, for an additional income tax liability of Rs.16cr.
 
 -Pidilite Industries has taken over an insulation tape brand called
 Steel Grip, for Rs.8cr from Bhor Industries.
 
 -Pidilite Industries is expanding its presence in Fabric care, car
 care and  stationery segments as part of its strategy to broadbase
 its produt portfolio. 
 
 2003 
 
 -Pidilite Industries has tied up with Chota Jadugar, the 3D movie
 distributed by  Srinagar films to help its new launch AcronRangeela
 Colours
 
 -Pidilite unveils new liquid pipe sealant
 
 -Pidilite unveils Fevicol Marine
 
 2005
 
 -Pidilite enters into snack market with 'Chikkers'
 
 -Pidilite Industries has acquired Dubai-based company UCC,
 manufacturer of construction chemical brand Probuild for an
 undisclosed amount.
 
 -Company has splits its Face value of Shares from Rs 10 to Re 1
 
 2006
 
 - Pidilite Industries Ltd has informed that the Board of Directors of
 the Company at its meeting held on October 17, 2006 has noted the
 resignation of Shri Amit Roy, Director and Whole time director with
 effect from December 31, 2006.
 
 -Pidilite Industries Ltd has informed that the Board of Directors of
 the Company at its meeting held on December 02, 2006, Shri. V S Vasan
 has been appointed as an Additional Director and also as Whole Time
 Director of the Company with effect from December 02, 2006.
 
 2007
 
 -Pidilite Industries Ltd has appointed Mr.Mandar M.Tambe as the
 Company Secretary, Compliance Officer under Clause 47(a) of the
 Listing Agreement and Compliance Officer under SEBI (Prohibition of
 Insider Trading) Regulations, 1992 in place of Mr.P.C.Patel, who was
 holding the said position till 30/11/2007.
 
 2008
 
 - Pidilite Industries Ltd has appointed Shri. Bharat Puri as an
 Additional Director of the Company with effect from May 28, 2008.
 
 2009
 
 - Pidilite Industries Ltd has informed that Shri. Debu Bhattacharya
 has been appointed as an Additional Director of the Company with
 effect from February 26, 2009.
 
 2010
 
 -Pidilite Industries has given the Bonus in the Ratio of 1:1
 
 -Ms. Savithri Parekh has been appointed as the Company Secretary and
 Compliance Officer.
 
 2011
 
 -PidiliteInds - Appointment of Foreign Currency Convertible Bonds
 (Share Allotment).
 
 -Shri Sanjeev Aga has been appointed as an Additional Director of the
 Company.
 
 
 2012
 
 -Pidilite Industries Ltd has  entered into a Joint Venture Agreement
 with Hybrid Coatings for manufacture of construction chemicals and to
 establish a Joint Venture Company in India for this purpose.
 
 -Pidilite Industries Ltd has the name of the Registrar & Share
 Transfer Agent (RTA) of the Company has been changed from TSR
 Darashaw Limited to TSR Darashaw Private Limited.
 
 2013
 -Pidilite Industries  incorporated a subsidiary Company in the name
 of Percept Waterproofing Services Ltd for the purpose of carrying on
 business of services relating to waterproofing including consultancy
 and project based services etc.
 
 2014
 -Pidilite Industries Acquisition of Adhesive Business of Blue Coat
 Private Ltd.
 - Pidilite Industries alongwith its Wholly owned subsidiary Pidilite
 International Pte Ltd. has incorporated a pvt ltd subsidiary Company
 in Ethiopia in the name of PIDILITE CHEMICAL PLC for manufacture of
 adhesives, mastics, paints, varnishes or similar coatings, printing,
 writing and painting inks etc.
 
 2015
 -Pidilite Industries Limited along with its Wholly owned subsidiary
 Fevicol Company Limited has incorporated a Company in the name of
 WOOD COAT PRIVATE LIMITED
 
Source : Dion Global Solutions Limited
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