Meghmani Organics Ltd

Meghmani Organics Ltd

The Company was incorporated on 15 October 2019. Pursuant to the Composite Scheme of Arrangement approved by Hon'ble NCLT Ahmedabad Bench vide an Order dated May 3 2021 the Agrochemical and Pigment business operated by Meghmani Organics Limited has been demerged into Meghmani Organochem Limited. As an integral part of the Scheme name of the Company has been changed from Meghmani Organochem Limited to Meghmani Organics Limited vide Certificate of Incorporation pursuant to change of name issued by the Registrar of Companies Gujarat on 3rd August 2021. The Company is engaged in manufacturing and selling of pigment and agrochemicals products.The Company is a leading diversified chemical company with significant presence worldwide. Its strong customer base includes prominent MNC's and geographical reach extends to more than 75 countries globally. The Company manufacture three broad categories of Agrochemical products namely pesticide intermediates technical and formulations. The agrochemical products find primary application in Crop Protection Veterinary Public Health and Wood Protection. Within Pigments it specializes in green and blue pigments which have varied user application in printing inks paints and coatings and plastics. The Company operates 6 facilities in Gujarat 3 major facilities for Pigments and Agro Chemicals each. The Company continues to become one of the leading diversified chemical companies in Organic Chemistry aiming for worldwide presence and product acceptability. The Company has set up world class development centre to facilitate upgrading technical capabilities and cost-effective measures.The Company has a sustainable business model well-integrated manufacturing base and plants located in the chemical hub of Gujarat a relatively most stable and peaceful state with a robust infrastructure. The Company has well-balanced plant capacities and layouts with multiple locations that support the economy of scale. It constantly explores more possibilities for backward integration and try to implement them. This helps sizable in eliminating the dependency on input supplies and the Company can convert effluents into valuable by-products. The Company has a strong pool of product basket. The product reach and distribution too are well diversified geographically with a presence in almost every continent empowering consistency in products off-take all throughout the year.The Company manufacture a wide range of pigments and agrochemicals in India and have a focus on delivering differentiated and quality products backed by strong research and development capabilities. The Company have three Pigment manufacturing plants at Vatva Panoli and Dahej SEZ in the State of Gujarat. It has a strong global presence in more than 75 countries and serve to end-user industries mainly in the areas of printing inks; paints & coatings; and plastics.The Company have 6 multifunctional ISO 9001 and 14001 certified production facilities with a wide range of products and backward integration of key raw materials located in Gujarat India's prime Chemical belt and having proximity to key ports. With a highly integrated manufacturing infrastructure the Company is producing own intermediates and a wide range of crop protection products.In 1986 the Company was founded as a Partnership Firm under the name of 'M/s Gujarat Industries' to manufacture Green 7 pigment plant at Vatva. In 1995 the Company established agrochemicals manufacturing plant at Chharodi.In 1996 the Company established pigment manufacturing plant at Panoli. In 2003 the Company acquired agrochemicals plant at Gujarat Industrial Development Corporation (GIDC) Ankleshwar. In 2004 the Company listed Equity Shares on Singapore Exchange (SGX) through depository. In 2007 the Equity Shares of Company was listed on the NSE and BSE platform.In 2008 the Company incorporated Meghmani Finechem Limited (MFL) to set up caustic chlorine plant at Dahej.In 2009 the Company acquired agrochemical formulation plant at GIDC Panoli. The Company set up agrochemical manufacturing facilities at GIDC Dahej.In 2013 the Company established pigment manufacturing facilities at Dahej SEZ Limited.In 2017 the Company was accredited for Good Laboratory Practice (GLP) and `Norms on OECD Principles' by National Good Laboratory Practice (GLP) Compliance Monitoring Authority (NGCMA) India and research labs for the tests conducted by DSIR (Department of Science and Industrial Research) approved lab and R&D facility for expansion of technology from laboratory to production level.In 2020 the Company increased expansion in agro division by doubling the capacity of 2 4D herbicides to 21600 TPA and new formulation plant. The Company set up a new multipurpose plant at Dahej with a capex of Rs. 31000 lakhs.In 2021 Meghmani Finechem Limited (MFL) stood transferred as a Demerged Company and independent listing was made for Shareholders. The Company commissioned two expansion projects in Agro division with capex of Rs.15000 lakhs in FY 2021.The Hon'ble National Company Law Tribunal (NCLT) Ahmedabad Bench vide its Order dated 3 May 2021 has approved the Composite Scheme of Arrangement to demerge the Agrochemicals and Pigments Division of Demerged Company and transferred the same to Meghmani Organochem Limited (MOL) as a going concern. The Scheme has been made effective from 10th May 2021.Pursuant to the Order of NCLT dated 03 May 2021 the four Subsidiaries of erstwhile Meghmani Organics Limited namely Meghmani Organics USA INC. (USA) P.T. Meghmani Organics (Indonesia) Meghmani Overseas FZE - Sharjah - Dubai and Meghmani Synthesis Limited stood transferred and became the Subsidiary of Company.Pursuant to approval of Composite Scheme of Arrangement approved by National Company Law Tribunal Ahmedabad Bench vide Order dated 3rd May 2021 the Company has allotted 254314211 Equity Shares of Re. 1/ each on 20th May 2021 to Shareholders of the Demerged Company on 19th May 2021.