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Home > Business India > Company Profiles: Pidilite Industries Ltd.

Pidilite Industries Ltd.
Registered Office : 7th Floor Regent Chambers Jamnalal Bajaj Marg 208 Nariman Point. Mumbai Maharashtra - 400021 Tel: 22822708
Business Group: Not Applicable Industry Type: Chemicals - Speciality - Others
Key Officials:
Mr. S K Parekh
Mr. R M Gandhi
Mr. Bansi S Mehta
Mr. Ranjan Kapur
Mr. A N Parekh
Mr. M B Parekh
Mr. N J Jhaveri
Mr. A B Parekh
Mr. Yash Mahajan
Mr. B K Parekh
Mr. V S Vasan
Mr. Bharat Puri
Mr. N K Parekh
Vice Chairman
Director
Director
Director
Whole Time Director
Managing Director
Director
Whole Time Director
Director
Chairman / Chair Person
Whole Time Director
Additional Director
Joint Managing Director
Public Issue Date: 31/12/1993 BSE CODE: 500331 NSE CODE: PIDILITINDEQ
Face Value: 1 Market Lot: 1 ISIN: INE318A01026
Current PE: 14.2992 Current Market Capital: 2687.5748
Promoters %: 71.0093
Promoters Shares: 179227520
Institution Investment %: 17.506
Institution Investment Shares: 44185090
Auditor:
Haribhakti & Co.
Banker:
Registrar:
T S R Darashaw Ltd. Not Available
Company History: 1969

- The Company was incorported as a private limited company on 28th Julyunder the name of Parekh Dychem Industries Pvt. Ltd. to acquire andtake over on a going concern the business carried on by a partnershipfirm M/s. Parekh Dychem Industries established in 1961 and having afactory in Mumbai. The Company was promoted by Balvantray KalyanjiParekh 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 acapacity resin project with a capacity of 3000 TPA at Mahad Industrialarea in Raigad district Maharashtra. Also undertook to set up aconstructions 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. wereamalgamated with the Company effective 1st July 1st April 1989 and 1stApril 1992 respectively.

- Effective 1st July Kondivita Pvt. Ltd. amalgamated with the Companyafter necessary approvals. The shareholders of erstwhile KondivitaPvt. Ltd. were allotted 41 000-15% preference share of Rs 10 each and19 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 sharesissued in prop. 1:1 in 1980 52 000 bonus shares issued in prop. 1:1 in1981.

1985

- I & II Pref. 4% shares redeemed. 12% redeemable shares upgraded to15%. 19 500 No. of equity shares and 41 000-15% Pref. shares allotteeto Kondivita Pvt. Ltd. on amalgamation. 54 000-15% Pref. sharesallotted to promoters & in lieu of 1st and 2nd 4% Pref. shares.

1986

- The Name of the Company was changed to PDI chemicals private limitedon 1st July and then to PDI chemicals limited on 28th October 1988.Name was once again changed to Pidilite Industries Ltd. on 21stFebruary 1990.

1989

- Effective 1st April Pidilite Industries Ltd. was amalgamated withthe Company. As per the scheme of amalgamation 1 93 500 No. of equityshares of Rs 10 each and 72 000-15% preference shares of Rs 10 eachwere 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 1stApril. Accordingly 90588 No. of equity shares of Rs 10 each and40 000-15% preference shares of Rs 10 each were allotted to theerstwhile 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 VinyChemicals India Ltd. (only 1 35 000 shares taken up). Balance13 86 378 shares along with 1 50 000 shares not taken up were issued tothe public (all were taken up).

1994

- The projects for SBR Latices AZO Pigments and Carbazole DioxieneViolet Pigments were commissioned.

- Apuraj Chemicals Ltd. was amalgamated with the Company. As per thescheme of amalgamation 66 000 No. of equity shares of Rs 10 each wereallotted 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 theCompany.

- 60 000 No. of Equity shares of Rs. 10 each to be issued and allottedto equity shareholders of the erstwhile Apuraj Chemicals Ltd. pursuantto the scheme of amagalamtion.

1995

- Expansion project at Taloja was commissioned with an overall plantcapacity of 2400 TPA of construction chemical.

- The Company's technical collaboration agreement with Schomburg & Co. KG. Germany for transfer of technical process know-how andspecifications of the plant etc. was extended till 8th September.

1996

- The first phase of grass root plant for manufacture of syntheticresins of various types was commissioned in March at Mahad with acapacity of 7800 TPA. In the second phase a loop process plant forcontinuous emulsion polymerisation was to be commissioned.

- Introduction of several new products in technical collaboration withM/s. Crown Berger Ltd. U.K.

- The Company allotted 61 17 200 No. of equity shares of Rs 10 each asbonus shares in the ratio of 1:1. 3 800 shares were kept in abyeancedue 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 VillagePransla near Dhank In Gujarat.

- The Pedilite Industries Limited manufacturer of the popular Fevicolbrand of adhesives is actively scouting around for buyers for itschemical and specially resins business. The company has been in talkswith several international players in a bid to either sell off thebusiness or enter into a joint venture.

1998

- Triveni Chemicals another group company was also merged with PIL in1992. PIL's consumer products division was set up in 1984.

- The Board of Directors gave their approvals for the amalgamation ofPGP Engineering works Ltd and Pidilite Finance Ltd. with the companyitself effective 1-4-99. Also Nebula Chemicals Ltd. manufacturers ofcertain grades of adhesives was to be amalgamated with the companysubject to necessary approvals.

- 2 800 bonus shares kept in abeyance allotted.

1999

- Pidilite Industries is re-engineering itself into a purebrand-oriented marketing company and is hiving of its manufacturingfacilities into a joint venture with a strategic partner.

2000

- The Company has acquired from Mahindra Engineering & ChemicalProducts Ltd (MECP) subsidiary of Mahindra & Mahindra Ltd theiradhesives 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 thesecond 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 foran 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

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.

(Source: RTGSL)


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