Company History - Tata Chemicals
1939
- The Company was Incorporated on 23rd January, at Mumbai. The
Company Manufacture salt, by-products of salt, alkalies, heavy
chemicals and insecticides and flux technical and battery grades.
- 37,000 equity shares issued without payment in cash.
1978
- The expansion of Soda Ash capacity from 3,60,000 to 5,00,000 tonnes
per annum was completed.
1982
- The Company proposed to take up production of phosphatic fertilizer
through its wholly-owned subsidiary, Tata Fertilisers, Ltd. at a
complex planned to be set up at Babrala in U.P. The Company
subscribed to an initial amount of Rs 30 crores in the shares capital
of Tata
Fertilisers, Ltd.
- 30,00,000 equity shares (prem. Rs 10 per share) and 36 shares
(prem. Rs 2 per share) allotted to 13.5% and 10.5% convertible bond
holders respectively.
1983
- The Company issued 13.5% secured rights convertible bonds of Rs 100
each aggregating Rs 30 crores. Out of this, Rs 26.27 crores were
issued to equity shareholders in the proportion of one bond for every
four equity shares held and the balance of Rs 3.73 crores was issued
to
employees, associates, friends, preference shareholders and deposit
holders. An amount of Rs 20 per bond was compulsorily and
automatically convertible into one equity share on 1.11.1983. The
portion of Rs 40 each are redeemable at the end of 10 years.
However,
these bond holders were given the right to apply for one equity share
for every part of Rs 40 upon payment of Rs 40 in cash separately
during 1st November, 1984 and 30th April, 1988.
- The Company formed a 100% investment subsidiary, with a paid-up
capital of Rs 20 lakhs, in the name and style of General Investment &
Trading Company Private Ltd.
1984
- The Company made a rights issue of 15% non-convertible debentures
of the face value of Rs 35 crores to meet a part of the capital
expenditure on various schemes of modernisation and rehabilition.
The issue was oversubscribed and the CCI accorded consent for the
Company
to retain a further amount of Rs 17.5 crores. These are redeemable
in three annual instalments commencing 9th May, 1992.
- The holders of 29,73,268 bonds of Rs 80 each applied for 59,46,536
equity shares. Out of these 18,69,739 shares were allotted with
effect from 1st January, 1985 and the remaining 40,76,797 shares were
allotted on 1st April, 1985. By appropriating the sale proceeds of
`B' and `C' portions of these convertible bonds or receiving share
amount and premium, the following equity shares were allotted at a
premium of Rs 30 per shares: (i) 4,014 shares during 1986-87; (ii)
3,162 shares on 10th April, 1987; (iii) 1,141 shares on 1st July,
1987, (iv) 474 shares on 1st October, 1987 and (v) 790 shares on 1st
January, 1988.
1985
- The Company also issued 15% non-convertible debentures aggregating
Rs 10 crores to the Unit Trust of India. These are redeemable at a
premium of 5% on 19th August, 1992. The date of redemption was
extented for a further period of 7 years at an enhanced rate of 19%
per
annum.
- 40,76,797 Equity shares (prem. Rs 30 per share) allotted to 13.5%
convertible bondholders. 77,69,096 bonus equity shares then issued
in prop. 2:5.
1986
- Rehabilitation and upgradation of this unit was in progress. It
continued to cater to the needs of expansion, modernisation and
replacement programmes of the chemical complex at Mithapur.
- The Company cancelled 59,970-7.14% cumulative (non-redeemable)
preference shares and in lieu thereof allotted 15% secured redeemable
non-convertible bonds of Rs 100 each at par. These bonds would be
redeemable at par on 27.1.1999.
- Pref. shares cancelled by issuing 15% bonds in lieu. 4,014 equity
shares allotted against `B' & C' Parts of 13.5% convertible bonds
(prem. Rs 30 per share) by receiving shares amount and prem. or
through sale proceeds.
- The name was changed to Sabras Investment and Trading Co. Ltd.
1987
- Effective from 31st March, the Company ceased to be a subsidiary
consequent upon an issue on a private and preferential basis of the
equity and cumulative convertible preference (ccp) shares of the face
value of Rs 13.70 crores to the shareholders of the Company.
- The Company issued 72,50,000-13.5% convertible debentures of the
face value of Rs 100 each for cash at par aggregating of the face
value of Rs 100 each for cash at par aggregating to Rs 72.50 crores.
Of this, debenture worth Rs 67.97 crores were issued to the
shareholders on
rights basis in the proportion of 1 debenture for every 4 equity
shares held, Rs 3.40 crores to the employees (including working
directors) and Rs 1.13 crores to NRI's. Including the retention of
oversubscription the following debentures were allotted; (i)
84,96,250 debentures to shareholders; (ii) 3,64,035 debentures to
employees including Indian working directors and (iii) 1,41,250
debentures to NRI's.
- An amount of Rs 40 out of the face value of each debenture of Rs
100 was automatically converted into 1 equity share of Rs 10 each at
a premium of Rs 30 per share effective from 1st April. Accordingly
90,01,535 equity shares were issued to the holders of 13.5%
debentures.
The holders of the balance Rs 60 portion were given option to seek
for allotment of 1 equity share at a premium of Rs 50 per share on
payment of cash between 1st October 1987 to 31st March 1998. Also,
from 1st October 1987 upto the date of redemption (end of the 7 year
period),
the Company reserved to itself the right to repurchase at its
discretion, the non-convertible portion of Rs 60 of the face value of
each debenture. By appropriating these sale proceeds of `B' portion
of these convertible debenture or by receiving share amount and
premium,
the Company allotted 83,43,700 equity shares on 1st April 1988 and
3,58,381 equity shares on 25th October, 1988.
- On the 22nd May, a Memorandam of Understanding was signed between
Indian Oil Corporation Ltd., the Government and the Company for
promotion of a joint venture Company under the name and style of
`Tata-Indian Oil Refineries Ltd.
1988
- The Steam power plant unit continued to perform fully well meeting
the stream requirement of the chemical complex, except for the outage
of one 13-MW turbo-generator causing power shortage for 4 months.
- The Process Equipment unit was substantially upgraded and
reorganized and received approvals under `IBR' and Lloyds. The
Process Equipment unit undertakes sophisticated fabrication job and
manufactures heavy, sophisticated process equipment.
- As at 31st March, Tata Chemicals had accounted for Rs 52 crores in
the CCP and Rs 8 crores in the equity shares of the Company. A
Scheme of Amalgamation of Tata Fertilisers, Ltd. with the Company was
approved by the Mumbai High Court on 7th September 1989.
- The Research and Development unit is oriented towards process
improvement, project development, waste utilisation and environmental
control, supporting production activities.
1989
- The Process Equipment division undertook equipment design and
preparatory work to take up substantial fabrication of the fertiliser
plant being set up at Babrala.
- The Company issued 15,00,000-14% non-convertible debentures of Rs
100 each on private placement basis to financial institutions. These
are redeemable at a premium of 5% on 26th October, 1996.
- The Company proposed to offer financial managerial and technical
participation in the Rs 3,000 crore Haldia Petrochemicals Complex
(HPL), a huge green-field project. West Bengal Industries
Development Corporation and Tata Tea, Ltd. and its associates are the
joint sector
partners in the said complex.
- 42,49,864 shares allotted without payment in cash to members of
Tata Fertilisers, Ltd. on its merger.
1990
- The Company achieved self sufficiency in its requirements of
Kurkutch salt-a basic raw material required for the production of a
wide range of products. During the year, the Company proposed to
introduce low-priced, high quality iodised Kurkutch salt.
- At the end of March, a new BHEL low-pressure turbo-generator was
commissioned. The low-pressure turbo generator and the topper
turbine suffered major prolonged outages.
- The Company signed the contract for supply of natural gas to the
fertiliser project at Babrala with the Gas Authority of India, Ltd.
The implementation of the project remained slow due to non receipt of
Deemed Export Status despite several appeals made to the Finance
Ministry and the long delay experienced in the receipt of bulk import
licence.
- DGTD registration was received for the manufacture of 1,50,000 TPA
of unadulterated environmentally safe detergent materials.
- The Company undertaken to set up a cement plant at the existing
chemical complex at Mithapur having a capacity of about 2,50,000 TPA
of ordinary portland cement or 4,40,000 TPA of Pozzolana Portland
cement. Budgetary offers for a wholly indigenous plant having a 900
TPD capacity was received and an application was made for an
industrial licence.
- The Company offered 125,00,000 - 12.5% partly convertible
debentures (PCDs) of Rs 150 each on Rights basis in the proportion 1
PCD: 6 equity shares held (all were taken up). Additional 18,75,000
debentures were allotted to retain oversubcription. Another
6,25,000-12.5% PCDs were issued to employees of the Company
(including Indian working Directors)/workers on an equitable basis.
(All were taken up).
- Rs. 50 (Part `A') of the face value of each debenture was to be
automatically and compulsorily converted into one equity share of Rs
10 each at a premium of Rs 40 per share on 1st August 1992.
Accordingly 150,00,000 equity shares were allotted.
- Rs. 50 (Part `B') of the face value of each debenture was to be
automatically and compulsorily converted into one equity share of Rs
10 each. Accordingly 150,00,000 equity shares were allotted for cash
at par during 1992-93. The remaining Rs. 50 of the face value of each
debenture was to be redeemed at the end of 10 years from the date of
allotment of the debentures with an option to the Company to redeem
the same in whole or in parts at any time after 7 years from the date
of allotment along with the residual portion, if any, of part `B'
above.
- The Company also offered 123,00,000 - 14% non-convertible
debentures (NCD) of Rs 100 each on Rights basis in the proportion 1
NCD:6 equity shares held (all were taken up). These debentures were
to be redeemed on expiry of 7 years from the date of allotment of
debentures at a premium of 5% of 10th January, 1998.
- The Company issued 46,00,000 - 12.5% Partly Convertible Debentures
(PCDs) of Rs 175 each of which the following debentures were reserved
for allotment on a preferential basis: (i) 22,00,000 PCDs to
shareholders of the Company (all were taken up) and (ii) 2,30,000
PCDs
to employees (including working directors)/workers on an equitable
basis (only 275 debentures taken up). The balance 21,70,000 PCDs,
along with 2,29,725 PCDs not taken up by employees, were offered for
public subscription (all were taken up).
- Rs 50 (Part `A') of the face value of each debenture was to be
automatically and compulsorily converted into 1 equity share of Rs.
10 each at a premium of Rs 40 per share. Accordingly 46,00,000
equity shares were allotted on 1st August 1992.
- Rs 50 (Part `B') of the face value of each debenture was to be
automatically and compulsorily converted into 1 equity share of Rs 10
each at the end of 30 months from the date of allotment of debentures.
Accordingly 46,00,000 equity shares were allotted during 1992-93.
- Rs 75 of the face value of each debenture was to be redeemed at par
at the end of the 10 years from the date of allotment of debentures
with an option to the Company to redeem the same in whole or in parts
at any time after 7 years from the date of allotment, along with
residual portion, if any, of part `B' above.
- 245,84,279 bonus shares allotted on 1.10.1990 in prop. 1:2.
1991
- A major replacement job was undertaken at CEHP boiler No. 1 which
was completed in a record time of 15 days.
- During 1991-92, it was proposed to give consent to the termination
of MOU and leave IOC had expressed the desire to do so despite the
withdrawal of the Soviets and substantial cost escalations.
- The last quarter of 1991, hurdles such as grant of deemed export
house status for the indigenous manufactures, allocation of foreign
exchange etc., were resolved.
1992
- During the year, a modern circo-fluid high pressure boiler having a
capacity of 200 TPH steam and a 16 MWT lopping turbo generator set
together form a co-generation systems were being installed. The
Company commission the circo-fluid boiler and 16 MW topping turbo
generator by 1994.
- The Company proposed to add a new circulating fluidised bed boilder
and topper turbine to the stream power plant for generation of
additional steam and power.
1993
- Rs 320 crores Mithapur Vikas Plan project made headway with the
construction of new boiler and turbine. Equipments were being added
in a phased manner to the soda ash plant and production capacity is
started to increase from 7 lakh TPA to 10 lakh TPA over the next 33
years.
1994
- The fertiliser project at Babrala commissioned in December.
- The Company entered into a sales agreement with Rallis India Ltd.
for distribution and sales of urea from Babrala to Punjab, Haryana,
U.P. and Rajasthan.
1995
- A new Circo Fluid boiler and a new 16.5 MW turbo generator set was
commissioned. However, the steam-power position remained below
expectation due to the teething problems in the initial stages and a
fire which damaged the turbine's casing.
- The testing of the new boiler and turbine were started during
March, and the co-generation of power plant was commissioned in May.
Equipments were added to the soda ash plant to increase production
capacity to one million tonnes per year.
- In order to meet increasing demand of Urea, the company proposed to
double the production capacity of Fertiliser complex at Babrala.
- 67,771,703 bonus equity shares allotted in prop. 3:5.
1996
- The gradual increase in soda ash capacity to one million tonnes per
year was continuing. The installation of a new Dense ash plant and
the expansion of the Sodium Bicarbonate was expected to be
commissioned by September 1997.
1997
- Tata salt recorded a market share of 32% in the branded, iodized
salt market maintaining a Company leadership position.
- 40 Tata Kisan Kendras were being set up to provide a complete
package of agricultural inputs and impart knowledge and training of
improved farm practices to farmers.
- Tata Chemicals Ltd (TCL) has shelved its expansion project of
setting up another urea plant with a capacity of 7.26 lakh tonnes per
annum adjacent to its existing unit.
- Tata Chemicals may buy-out the loss-making new fertiliser plant of
Sanderson Industries Ltd in Jamshedpur, which sources coke-oven waste
from Tisco as its base raw material.
1998
- Tata Chemicals has decided to double its cement capacity to
8,00,000 per annum from 4,00,000 tpa at an investment of Rs.300
crore, to increase capacity of soda ash from 7.5 lakh tpa to 8.5 lakh
tpa at a cost of Rs.40 crore and to foray into importing and marketing
of Liquified Natural Gas (LNG) along with a consortium of Indian
fertiliser companies.
- The company is diversifying into power generation by generating
wind energy at its 37,000 acre site at Mithapur in Gujarat.
- The company has proposed amendments in its articles of association
for share buyback, issuing of shares without voting rights,
dematerialisation of securities and introduction of employee's stock
option scheme.
- 86,320 shares forfeited.
1999
- The company's very recent launch is `Rakshak' detergent powder
which is currently available at an introductory price of Rs 19 per kg
as against the maximum retail price of Rs 22. The launch of Rakshak
follows the quiet entry of `Shudh' detergent powder, which was
launched
a year ago, and is currently priced at Rs 36 for the same volume.
2000
- The board of directors has approved a proposal to merge with the
company's wholly-owned subsidiary, Sabras Investments and Trading Co.
Ltd.
- Prasad R. Menon has been appointed as a new Managing Director of
the company.
- Tata Chemicals Ltd. will be merging investment subsidiary Sabras
Investment & Trading Co. Ltd. with itself.
- Tata Chemicals president R K Kaul has decided to step down from the
helm of the company, effective 15th October.
- Fertiliser major Tata Chemicals has decided to exit its detergents
business, which has a single brand Shudh, and is in talks with
potential buyers to sell it.
2001
- Tata Chemicals Ltd is in talks with Gujarat Ambuja Cement for
selling off its cement unit at Mithapur, Gujarat.
- A major fire broke out at the Tata Chemicals Ltd. plant at Mithapur
gutting a portion of the inorganic chemical plant. The Plant resumed
production on March 24.
2002
- Tata Chemicals Ltd has informed BSE that Mr.Sunil Wadhwa has been
re-designated as Chief Financial Officer and Company Secretary of the
company.
-Tata Chemicals Ltd has informed BSE that Mr P K Ghose has been
appointed as Chief Financial Officer of the company with effect from
November 1, 2002.
-Tata Chemicals Ltd has informed that the Board has taken a note of
the resignation of Mr Arvind N Lalbhai from the Directorship of the
Company.
2003
-Tata Chemicals and HLL have cleared an exchange ratio at 2.5:1 for
amalgamation.
-Tata Chemicals wins a decade long Rs.400cr tax dispute, with the
Supreme court rejecting the demand of the income-tax department.
-Tata chem has informed that ICRA has assigned LAA+ rating to the
company's proposed Rs.1250million Non-Convertible Debenture
Programme.
-Tata Chemicals has availed of $20 million ECB at an interest rate
100 basis points above the London Inter Bank Offer Rate(LIBOR) for
three years.
2004
-Tata Chemicals picks up gas from Petronet LNG
-Tata Chemicals Ltd has appointed Mr Homi Khusrokhan as an Executive
Director of the company
- The merger of Hind Lever Chemicals Ltd with Tata Chemicals Ltd came
into effect on June 1. Consequent to the orders of the High Court of
Judicature, Mumbai, and the High Court of Punjab & Haryana,
sanctioning the Scheme of Amalgamation of Hind Lever Chemicals with
Tata Chemicals, Hind Lever Chemicals has merged with Tata Chemicals,
effective from June 1, 2004.
2005
-Tata Chemicals launches 'Tata Kisan Sansar' in West Bengal and
Jharkhand
-Tata Chemicals launches a US $ 150 million Convertible Bond Issue
-Tata Chemicals enter into 2 separate agreements for acquiring
majority stake in U.K. based chemical company
-Tata Chemical's Mithapur unit, Bharat Heavy Electricals's Ranipet
works and I-flex Solutions have won the IMC Ramakrishna Bajaj
national quality award trophy 2004.
-First step towards internationalisation. TCL acquires an equal
partnership in Indo Maroc Phosphore SA (IMACID) along with Chambal
Fertilisers and global phosphate major, OCP of Morocco.
2006
-Tata Chemicals picks up ICMA excellence award
-Tata Chemicals Ltd on October 13, 2006 has announced the appointment
of Mr. Homi Khusrokhan as Managing Director with effect from October
16, 2006.
- Tata Chemicals Ltd. has informed that Mr. Prasad R. Menon has been
appointed as an additional director on the Board of the Company, with
effect from October 30, 2006. Mr. Prasad R.
-Tata Chemicals Ltd has appointed Mr. Prasad R Menon as an Additional
Director on the Board of the Company,
-TCL completes acquisition of UK-based Brunner Mond Group, one of the
world's leading manufacturers soda ash and associated alkaline
products
2007
-Tata Chemicals Ltd has informed that the Company and Total Produce
Plc (TOTAL PRODUCE) on February 01, 2007 has entered into an
agreement to form a 50/50 joint venture Company in India.
-Khet Se Agriproduce set up as a 50:50 joint venture with Total
Produce, Ireland, the third largest fruits and vegetable distribution
company in the world.
-TCL wins Deal of the Year Award for BMGL acquisition IMA
-Tata Salt wins Popular Consumer Award and title Master Brand
Bharti Vidyapeeths Institute of Management Studies & Research
2008
-Tata Chemicals Ltd has informed that Dr. M S Ananth, Director,
Indian Institute of Technology Madras, has been appointed as an
Additional Director on the Board of the Company with effect from
April 03, 2008.
-Tata Chemicals Ltd has informed that Mr. Arun Maira, an
international Management Consultant, has been appointed as an
Additional Director on the Board of the Company with effect from
September 25, 2008.
-TCL acquires US-based General Chemical Industrial Products (GCIP).
Becomes worlds second largest soda ash manufacturer.
-Tata Chemicals opens Call Centre in UP
2009
-Tata Chemicals Limited, UREA division achieves RC 14001 - 2005
CertifIcation.
-TCL has been certified under SA 8000:2001 standard for the Mithapur,
Babrala and Haldia sites by RINA India Pvt Ltd.
-TCL Awarded the Business Superbrands Status
-The Asset Triple A Best Deal India Award
2010
- Tata Chemicals Ltd has appointed Dr. Y. S. P. Thorat as an
Additional Director on the Board of the Company with effect from
January 08, 2010.
2011
- Tata Chemicals - Acquisition of 100% stake in British Salt
Limited, UK
- Tata Chemicals Investment in Greenfield Port-based Ammonia-Urea
Fertilizer Manufacturing Complex in Gabon, Africa
- Tata Chemicals signs technical services agreement with Notore
Chemicals Industries of Nigeria, for providing technical advisory
services
- Tata Chemicals acquires stake in EPM Mining Ventures
- Tata Chemicals - Signing of the Pre Construction Services Agreement
with Technip for the Gabon Fertiliser Project
2012
- Tata Chemicals Ltd appointed Mr. Cyrus P. Mistry as the Deputy
Chairman of Tata Chemicals Ltd
- Tata Chemicals Ltd won the prestigious Employer Branding Award
2012, for 'Best HR Strategy in Line with Business Strategy',
instituted by the World HRD Congress.
2013
-Winners of Tata Chemicals Best Chemistry Teachers Awards
-Tata Chemicals bags three awards at FAI Golden Jubilee Awards
-Tata Chemicals signs MoU with the Institute of Chemical Technology
to set up endowment chair of Rs3.5 crore
2014
-Tata Chemicals inaugurates its new Innovation Centre in Pune
-Amalgamation of Homefield International Pvt. Ltd., (Mauritius) with
the Company
-Cyrus Mistry launches new Tata Chemicals Innovation Centre in Pune
2015
-Tata Chemicals Babrala plant bags NSCI's Suraksha Puraskar at the
National Safety Awards
2016
- Tata Chemicals inks MOU with Sanjana Cryogenics Storage
2017
-Tata Sampann Low Oil absorb besan wins the Tata Innovista 2017 award
for Implemented Innovations.
-Tata Chemicals launches fortified salt products.
-Tata Nx Zero Sugar wins the Ayush Kamal Tarna award for 'India's
Best Natural Sweetener'.
-Tata Chemicals' CSR initiative 'Dharti Ko Arpan' wins the 1st Best
Practices Award at the 12th National Convention on the theme of
'Making Global Goals Local Business'.
2018
-Tata Chemicals has signed a Business Transfer Agreement with M/s.
Allied Silica Limited (''ASL'').
-Tata Chemicals was among the winners at Asias Most Trusted
Companies Awards 2018, held in Bangkok.
-Tata Chemicals Magadi wins at the Digital Inclusion Awards.
-Tata Chemicals Launches Ncourage Social Enterprise Foundation.
-Tata Chemicals launches Centre of Excellence to Safeguard Marine
Biodiversity.
2019
-Tata Chemicals Acquisition of the remaining 25% partnership
interest from The Andover Group, Inc. in Tata Chemicals (Soda Ash)
Partners Holdings.
-Tata Chemicals wins the coveted Compliance Team award for its
compliance, ethics and governance protocols.
-Tata Chemicals ranked amongst top 25 Indias Most Innovative
Companies of 2019.
-Tata Chemicals launches li-ion battery recycling operations.
2020
-Tata Chemicals recognised amongst Indias top 25 Most Innovative
Companies by CII for the second time in a row.
-Tata Chemicals bags 3rd position and two Gold level awards at CII
Six Sigma National Competition Award 2020.
-Tata Chemicals bags 3rd spot in Responsible Business Ranking 2020.
2021
-Tata Chemicals wins Indias top 25 Most Innovative Companies by CII
for the third consecutive year.
-Tata Chemicals wins big at FICCIs India @75: Chemical and
Petrochemical Industry Awards 2021.
-Tata Chemicals bags three Platinum level awards at CII Six Sigma
National Competition Award 2021.
-Tata Chemicals inaugurates state-of-the-art Oxygen Plant at Mithapur
Hospital.
2022
-Tata Chemicals inaugurates oxygen plant in Jam Rawal Health Centre
of Devbhumi Dwarka, Gujarat.
-TCSRD partners with NABARD to create climate change awarness.
-Tata Chemicals, Rallis Wins Silver and Plaque at ICAI Sustainability
Reporting Awards 2021-22.
-Tata Chemicals Aniali Limestone Mine Awarded Five-Star Rating by GOI
for the 4th year in a row.
-Tata Chemicals wins at the International Quality Innovation Awards.
2023
-Tata Chemicals recognised as the Grand Winner and recipient of the
Most Innovative Company accolades at the prestigious CII Industrial
Innovation Awards 2023
