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Tamilnadu Petroproducts Ltd.

BSE: 500777 | NSE: TNPETRO |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE148A01019 | SECTOR: Detergents

BSE Live

Dec 03, 16:00
104.10 1.85 (1.81%)
Volume
AVERAGE VOLUME
5-Day
49,265
10-Day
63,776
30-Day
62,920
37,097
  • Prev. Close

    102.25

  • Open Price

    100.70

  • Bid Price (Qty.)

    104.10 (485)

  • Offer Price (Qty.)

    106.50 (100)

NSE Live

Dec 03, 15:59
104.15 1.85 (1.81%)
Volume
AVERAGE VOLUME
5-Day
494,396
10-Day
470,835
30-Day
468,947
508,180
  • Prev. Close

    102.30

  • Open Price

    102.25

  • Bid Price (Qty.)

    104.15 (9977)

  • Offer Price (Qty.)

    0.00 (0)

Company History - Tamilnadu Petroproducts
YEAR                       EVENTS
 1984 - The company was incorporated on 22nd June 1984.  It was
 promoted
        by Tamil Nadu Industrial Development Corporation Ltd.
 (TIDCO).
        In October 1984, TIDCO inducted Southern Petrochemical
 Industries
        Coporation Ltd. (SPIC) as the joint sector associate in
 setting
        up a project for the manufacture of 50,000 tonnes per annum
 of
        linear alkyl benzene (LAB).  The Company manufacture linear
 alkyl
        benzene and heavy normal paraffin.
 
 1986 - The Government of India re-endorsed the industrial licence
        increasing the plant capacity of linear alkyl benzene (LAB)
 to
        60,000 TPA from 50,000 TAP.
 
      - The Company obtained the necessary clearances for import of
        capital goods from Germany, USA, Japan and Finland and also
        obtained the Government approval for engaging the services of 
     
        foreign technicians from the said countries.
 
      - 10 shares subscribed or by the signatories to the Memorandum
 of
        Association.  3,89,99,990 shares then issued at par of which
        101,39,995 shares to TIDCO and 98,60,000 to SPIC were reserved
 or
        allotment.  (All shares were allotted except 9,99,995 shares
        formal allotment of which was awaiting Govt. approval).
 
      - Out of the remaining 1,89,99,995 shares, the following shares
        were reserved for preferential allotment; (i) 10,00,000 shares
 to
        UTI (all were taken up); (ii) 3,79,995 shares to business
        associates of the Company (all were taken up); (iii)
 19,50,000
        shares to employees (including Indian working
 directors)/workers
        of the Company and promoter companies (only 1,54,800 shares
 taken
        up); (iv) 36,00,000 shares to shareholders of SPIC and (v)
        50,00,000 shares to non-resident Indians on repatriation
 basis
        (all were taken up).  The balance 70,70,000 shares along with
 the
        unsubscribed portion of 17,95,200 shares out of the employees
        quota were offered for public subscription during September
 1986.
 
      - 97,50,000 additional shares allotted to retain
 oversubscription
        (15,56,000 shares to non-resident Indians, 27,16,500 shares
 to
        the public and 54,77,500 shares to promoters, etc.
 
 1987 - The Ministry of Petrochemicals approved the supply of
 3,80,000
        TPA kero-feed stock by Madras Refineries Ltd.  It was proposed
 to
        market LAB under the trade name SUPERLAB.  The Company
        commissioned two D.G. sets of 3240 KWA.  Efforts were made to
        increase the capacity of linear alkyl benzene (LAB) further
 to
        75,000 TPA.  Additional storage, loading and despatch
 facilities
        were also being set up for LAB.
 
      - Contracts were entered into with UOP for supply of catalysts
 and
        sorbents.
 
      - In July MOU was signed with UOP for improving the quality of
 LAB
        and also for provision of additional facilities to increase
 the
        capacity to 75,000 TPA.
 
      - (18 months), specifications and drawings were received from
 UOP
        for heavy normal paraffin (HNP) project which was expected to
 be
        commissioned during the third quarter of 1990.
 
      - During the year, it was also proposed to set up a refining
 unit
        to improve the quality of LAB and the consumption norms which
        would help in converting the low value by-product viz., heavy
        alkylate to high value LAB.  The unit was commissioned in
 October
        1989.
 
      - The Company undertook research and development activities.  A
        pilot plant was set up at Trichy to demonstrate usage of LAB
 in
        detergent industry to suggest new formulations etc.  Also
        laboratories with testing facilities were established at
        Ahmedabad and Trichy to serve customers.
 
      - 37,500 shares forfeited out of which 36,600 shares reissued
 and
        forfeitures on the balance 1,100 shares annulled.  68,62,495
        shares out of 69,99,995 shares awaiting Govt. approval were
        allotted (36,74,995 shares to TIDCO and 31,87,500 shares to
        SPIC).
 
 1989 - During September, 1989, the Company entered into a joint
 venture
        agreement with M/s. Henkal W. Germany a detergent
 manufacturer
        for setting up a detergent project to be implemented by SPIC,
        Fine Chemicals, Ltd.
 
      - The Company proposed to undertake debottlenecking for
 increasing
        the production of LAB by another 10,000 TPA.  Government of
 India
        under the `policy of Minimum Economic Scales of Operations,
        proposed to endorse plant capacity from 60,000 TPA to 80,000
 TPA
        in the industrial licence.
 
      - The company proposed to obtain the said endorsement.  To
 improve
        efficiency safety and cost economics, the Company proposed to
        incorporate the Advanced process control system.
 
      - M/s. UOP Desplains USA, M/s. Setpoint, Houston, USA, were
        commissioned by the Company to undertake definition phase
 study
        to explore the possibility of incorporating the said system.
 
      - During September, the Company entered into a joint venture
        agreement with M/s. Henkel, W. Germany a detergent
 manufacturer
        for setting up a detergent project to be implemented by SPIC.
 
      - A company under the name of SPIC Fine Chemicals, Ltd. (SFC)
 was
        incorporated for implementation of the project.
 
      - 1,37,500 No. of equity shares awaiting Government approval
 were
        allotted.
 
 1991 - The Company decided to participate in the
        revival-cum-rehabilitation scheme of Standard Motor Products
 of
        India, Ltd. (SMPL), as per an approval obtained from BIFR.
 
 1992 - A Letter of Intent was received for the manufacture of 33,000
        tonnes per annum of caustic soda at Uthamacholapuram in
 Nannilam
        Taluk, Nagapattinam, Quaid-E-Milleth District.
 
      - Registration with Government was completed for a project for
 the
        manufacture of 10,000 tonnes per annum of epichlorohydrin a
 basic
        raw material used for epoxy resin.
 
      - During October, detailed proposals were submitted to IDBI for
        seeking financial assistance for the epichlorohydrin project
 to
        be set up at a cost of Rs 100 crores in Manali for which an
        agreement was signed with CONSER, Italy for supply of
 technical
        know-how.
 
      - The Company signed a MOU with M/s. Total Lubricants
        International, France to establish a Joint Venture for the
        manufacture of Lubricants used in automotive industries.  The
        High Court of Chennai on 4th October, 1996 ordered winding up
 of
        the Company.
 
      - 49,10,859 No. of equity shares issued on conversion of loans
 from
        the Financial Institutions.
 
 1993 - The Company received Export Award for 1990 from the Government
 of
        Tamil Nadu.
 
      - In January, additional facilities for storage, loading and
        despatch of LAB has been commissioned.  The Advanced Process
        Control System to improve the efficiency of operation as well
 as
        specific consumption of the plant was to be commissioned by
 June.
 
      - Applications were made for the caustic soda project for
 pollution
        clearance and also appraisal of the project by IDBI for
 financial
        assistance.
 
      - Government also considered allotment of 5000 acres of land
 for
        development of salt pans at Vedaranyam which is the potential
        source of raw material.
 
      - The Company implemented the project for manufacture of
        Epichlorhydrin at Manali, Chennai.
 
      - Arrangements were made for training plant personnel in a
 similar
        existing project at M/s. Ham Young Chemicals Corporation
 Ltd.,
        Korea.
 
      - During December, the Company issued 134,15,300 rights equity
        shares of Rs 10 each for cash at a premium of Rs 15 per share
        in proportion 1:4 (only 134,15,010 shares taken up).  5,600
        shares kept in abeyance.  Another 37,00,000 shares issued
        exclusively to ensure allotment in market (only 12,50,218
 shares
        taken up inclusive of 2,902 shares remaining unsubscribed in
        respect of rights issue).
 
      - As at the same period the Company offered through a
 prospectus
        182,20,000 shares at a premium of Rs 20 per shares in the
        following basis: (i) 33,28,500 shares to Indian mutual funds
 and
        financial institutions.  (ii) 13,72,800 shares to FIIS etc.
        (iii) 30,00,000 shares to NRJs on repatriation basis (iv)
        18,22,000 shares to SPIC on preferential basis. (v) 1,20,700
        shares to employees (only 1,05,200 shares taken up.  Balance
        85,76,000 shares along with unsubscribed portion of NRIs
 quota
        (9,57,000 shares) & employees quota (15,500 shares) and
 33,28,500
        shares from Mutual Funds and Financial Institutions were
 issued
        to the public.  32,885,228 shares were allotted including
 Rights
        and Public Issue.
 
 1994 - Epichlorophydrin plant was commissioned.  The Company
        commissioned a 3 MW capacity windfarm project in Palladam
 Taluk,
        Coimbatore District.
 
      - The Company proposed to implement a 5 MGD Tertiary Treatment
        Plant/Reverse Osmosis Plant in association with other group
        companies of SPIC in Manali belt to augment the captive
        requirement of industrial water.
 
      - 5,450 shares kept in abeyance.
 
 1995 - The Company commissioned the second phase of 9MW capacity
        windfarm to augment the power requirement.  During the year
 the
        Company was selected by the Government of Tamil Nadu to
 implement
        the 500 MW thermal power project at Tuticorin at an estimated
        cost of Rs 2000 crores.  A MOU was entered into with Tamil
 Nadu
        Electricity Board.
 
      - The Company commissioned a storage facility with a capacity
 of
        500 tonnes at Cuddalore port to handle propylene.  The
 factory
        was being expanded to 1000 tonnes by August 1997.
 
      - A letter of intent was received from the Tamil Nadu
 Government
        for setting up a 6 MTPA Refinery at Minpur, Chennai.
 
       - Ciba Geigy, Switzerland evinced keen interest for
 association
         with the Company to set up a project for manufacture of
 25,000
         TPA of expoxy resin using Epichlorohydrin.
 
 1996 - A MOU was entered into with Indian Oil Corporation Ltd. on
 24th
        January, for marketing of petroleum products from the
 proposed
        refinery.
 
      - A MOU was signed on 24th January, to set up a joint venture
        Company adjacent to ECH plant at Manali to have the key raw
        material on pipeline for transfer, elimination of risks in
        handling the extra bulk and ensure savings in freight and
        storage.
 
      - The Company proposed to expand the LAB plant's capacity by
        adopting state-of-the-art technology.  This expansion was to
 meet
        the requirement of Petro Aroldite Pvt. Ltd., a joint venture
 with       
        Ciba Geigy.
 
      - A separate joint venture company was formed with Ciba-Geigy
 Ltd.
        on 10th December, to set up basic liquid resin plant at
 Manalis      
        with a capacity of 25,000 tpa.
 
 2000 - Tamil Nadu Petroproducts Ltd. promoted by SPCI Ltd. and
        state-owned Tidco, to set up a plant each in Saudi Arabia and
        Vietnam.
 
 2002
 
 -BOD withdraw the nomination of Dr.K Satyagopal , as Director
 representing TIDCO.
 
 -BOD co-opted Thiru V K Jeyakodi  as the Director of the TIDCO.
 
 -Shifts its Registered office to Manali Express Highway, Manali,
 Chennai - 600 068.
 
 -Board in its meeting on Aug-02 approves the proposal to issue
 secured redeemable Non-convertible debentures aggregating Rs.100crs
 on private placement basis to financial institutions.
 
 -Co-opts Thiru G M Ramamurthy as the Director representing IDBI.
 
 2003
 
 -Board members approve for the delisting of the company equity shares
 of the company from Delhi and Ahmedabad Stock Exchanges.
 
 -1.Thiru Arun Ramanathan, IAS is appointed as Chairman representing
 TIDCO
 
 -2.Accepted the withdrawal of nomination of Thiru K Skandan, IAS as
 Director & Chairman by TIDCO Ltd. 
 
 -3.Has accepted the resignation of Thiru M. Sundaram as Director and
 Chief Operating Officer (Whole-time Director). 
 
 
 2004
 
 - D Arunachalam, managing director and CEO of Tamilnadu Petroproducts
 (TPL) has put in his papers. Confirming the development, sources in
 the Spic group said he wanted to resign on personal grounds. TPL is a
 joint venture between Spic and state-owned Tamilnadu Industrial
 Development Corporation( Tidco)
 
 -MR R.M. Muthukaruppan, Chief Operating Officer, Tamilnadu
 Petroproducts Ltd, has been appointed its Managing Director and Chief
 Operating Officer.
 
 -1. Accepted the request of early retirement of Thiru D Arunachalam
 as Director and Managing Director & CEO representing SPIC w.e.f.
 February 3, 2004.
 2. Co-opted Thiru RM Muthukaruppan as Director and appointed as
 Managing Director & Chief Operating Officer representing SPIC w.e.f.
 February 4, 2004 in place of Thiru D Arunachalam.
 3. Co-opted Thiru V Ramani as Director and appointed as Director &
 Chief Financial Officer representing SPIC w.e.f. February 4, 2004.
 4. Accepted resignation of Thiru A C Chakrabortti as Independent
 Director.
 5. Co-opted Thiru N R Krishnan as Director in place of Thiru A C
 Chakrabortti w.e.f. January 22, 2004.
 6. Accepted resignation of Thiru M R B Punja as Independent
 Director.
 7. Co-opted Dhananjay Narendra Mungale as Director in place of Thiru
 M R B Punja w.e.f. January 22, 2004.
 8. Accepted the withdrawal of nomination of Thiru L Krishanan as
 Director representing TIDCO.
 9. Co-opted Thiru Ashok Kumar Gupta as Director representing TIDCO
 w.e.f. January 22, 2004 in place of Thiru L Krishanan.
 
 2004
 
 -TPL forms alliance with Al Zamil for Saudi LAB project
 
 2007
 
 -Tamilnadu Petroproducts Ltd has informed that the Board of Directors
 of the Company at its meeting held on October 26, 2007, has approved
 the following changes in the constitution of the Board of Director(s)
 of the Company. Thiru Sunil Paliwal, IAS: Accepted the withdrawal of
 nomination of Thiru Sunil Paliwal, IAS, as Director representing
 Tamilnadu Industrial Development Corporation Ltd (TIDCO).
 
 
 2008
 
 - Thiru M F Farooqui, IAS as Director representing TIDCO and
 appointed him as Chairman.
 
 
 2011
 
 - The Board of Directors of the Company has passed a resolution
 approving the sale of 17,351,686 equity shares of Rs. 10/- each
 (fully paid up) representing 14.90% of the paid up equity share
 capital of Henkel India Ltd to Jyothy Laboratories Ltd, Mumbai.
 
 2012
 
 -Company has  recommended payment of 5% dividend on the Paid up
 Equity Share Capital (Rupee 0.50 per equity share).
 
 2013
 
 -Company has been appointed Thiru Muthukrishnan Ravi as Managing
 Director.
 
 -Mr. R. Kothandaraman has been appointed as Company Secretary and
 Compliance Officer of the Company.
 
 2014
 
 -Mr. M. Pazhaniandy Pillai has been appointed as an Additional
 Director/Wholetime Director of the Company.