History of EID Parry [Indias] Ltd.
YEAR EVENTS 1975 - The Comp. was incorporated on 22nd September. The Manufacture & sale of sugar, spirit, carbonic acid gas, ceramics, chemicals, fertiliser mixtures, complex fertilisers, plant protection products, animal feeds, processed seeds, distribution of fertilisers, consumer & engineering products, assembling of generating sets, export of marine & other products, etc.
1976 - The Scheme of Arrangement & Amalgamation by which all the assets & liabilities of Sterling Company, E.I.D. Parry, Ltd., were vested in the Comp. as on 1st January became effective on 18th June, 1976.
- The Comp. has a sugar factory at Nellikuppam, South Arcot District, Tamil Nadu. Sugar is produced by double sulphitation process. The Distillery attached to the company's sugar factory at Nellikuppam manufactures various kinds of spirits required for industrial & medical purposes. The carbon dioxide gas plant at Nellikuppam has a capacity of 10,000 pounds of gas per day.
- The Comp. also owns chemical, pottery & fertiliser works at Ranipet, North Arcot Dist., Chennai, where sulphuric, nitric & hydrochloric acids epsom salts & sulphate of alumina sanitaryware & a variety of potteryware are manufactured.
- The Ranipet Works manufactures fertiliser mixtures, super-phosphate, insecticides & fungicides.
- Excepting for 63 Equity shares of Rs 10 each issued for cash, the balance of share capital both pref. & equity represents shares issued for consideration other than cash, such shares having been issued to shareholders of E.I.D. Parry, limited in the prop. of two 11% cumulative redeemable Pref. shares of Rs 10 each fully paid-up for every 9% cumulative Pref. share of Pound 1 each & two Equity shares of Rs 10 each fully paid-up in exchange for every ordinary share of Pound 1 each in terms of Scheme of Arrangement & Amalgamation dated 3rd February, 1976 between E.I.D. Parry, limited & the Company. Pref. shares redeemable at the Company option after 10 years but before 15 years from the date of allotment.
1977 - An agreement was entered into with Haldor Topsoe of Denmark for the know-how & basic engineering for revamping of the Company ammonia plant for revamping of Company's ammonia plant for methanol production.
1981 - While sale of cattle feeds registered a marginal growth, offtake in poultry farms was considerably reduced due to uneconomic process & competition from the home mix.
1984 - Complicated requirements of automobile & electrical industries was developed but the operations resulted in a loss. As the tool room division did not fit into the Company other activities, the unit was sold.
1985 - A new tunnel kiln as commissioned during the year. A new range of `Cascade' sanitaryware with emphasis on saving water, was launched in selected areas.
1986 - Sales of fertiliser mixtures & superphosphate were adversely affected due to unfavourable weather conditions & stiff competitions.
1987 - The sulphuric acid & phosphoric acid plants were commissioned after modernisation. A proposal was on hand to modernise the paramfos granulation plant. Modernisation work in the sugar factory at Nellikuppam commenced & installation of new boiler was almost completed. Letter of intent was received to expand the crushing capacity of sugar plant at Nellikuppam to 5,000 tonnes of cane per day.
1988 - The Comp. developed in-house techniques for tissue culture of cane.
- Government permission was sought for setting up of new unit at Karnataka to manufacture sugar & to set up a unit at Nillikuppam to manufacture vinyl acetate monomer [VAMs] using the alcohol available from the distillery.
1990 - Operations were adversely affected due to labour unrest at the sugar & fertiliser factories. Sugarcane crushed was lower due to labour strike for a month in November/December.
- The Comp. undertook a scheme of rehabiliation/cum expansion to increase the capacity of factory to 4,000 TCD. The Conversion of sulphuric acid plant to Double conversion Double Absorption process was being set up at a cost of Rs 4.20 crores at Ranipet.
- The Comp. acquired controlling interest in Falcon Gulf Ceramics, Ltd., at Rajasthan to improve the market presence in the Ceramics Industry. Government approved the import of design, drawings & essential components for erection of new shuttle kiln & a tunnel kiln to replace the existing old kilns.
- Import of know-how from IFO Sanitar AB, Sweden, was also approved for manufacture of sophisticated sanitary-ware items including specially designed water saving closet system. A new shuttle kiln was commissioned.
- Production of phosphatic fertilisers at Ennore factory was adversely affected due to strike by workmen for two months.
- A letter of intent was received to set up a VAM unit & the Comp. was awaiting Tamil Nadu Government policy on alcohol before proceeding with the implementation of project.
1991 - Two new products viz., 'Parrydon' & 'Angi' were added to the product range.
1992 - The Comp. entered into a technical collaboration with Trifolio-M Gmbh for production of 'Neemezal'.
- 50,000 - 14% Pref. shares redeemed. 4,12,017 No. of equity shares of Rs 10 each allotted as per Scheme of Amalgamation of Murugappa Electronics limited with the Company.
1993 - New products viz., Acquarius range of products, slimline cistern & wonderflush fittings were introduced. Dekalf Plant Genetics, USA was launched.
- The Comp. offered 34,00,000-15% partly convertible debentures of Rs 150 each on Rights basis in the proportion 5 debentures: 10 No. of equity shares held. [all were taken ups].
- Another 1,70,000 debentures were issued to the employees on an equitable basis [only 1,37,200 debentures taken ups].
- Rs 70 of face value of each debenture was to be converted into 1 equity share of Rs 10 each at a premium of Rs 60 per share on the date of allotment of debentures. Accordingly 35,37,200 share were allotted. Balance Rs 80 of face value of each debenture was to be redeemed in 3 instalments of Rs 25, Rs 25 & Rs 30 at the expiry of 7th, 8th & 9th year respectively from the date of allotment of debentures.
1994 - Acquarius range of products were introduced. New products such as Kitchen Sink & Bath Tubs were being introduced & during the year, plans were afoot to double the units' capacity.
- The pilot plant for scale up work from the laboratory was commissioned.
- The High Court of Chennai & Rajasthan vide orders dated 29th July 1994 & 30th September 1994 sanctioned the scheme of amalgamation of Falcon Gulf Ceramics limited According the erstwhile shareholders were issued 1,73,913 No. of equity shares on 23.01.1995.
- During July, the Comp. offered 47,67,581 Global Depository Receipts representing 47,67,581 ordinary shares at an issue price of US $8.39 per GDR.
- 40,00,000 No. of equity shares were issued with warrants entitling the holder to apply for nine equity shares per warrant at the end of 18 months from the date of allotment.
2000 - The Comp. have appointed Mr T.B. Subramanian, retired Chief General Manager, IDBI, as a Nominee Director on te board.
- The Comp. proposal for amalgamation of its subsidiaries, Pettavaittalai Sugars & Chemicals Ltd., Johnson Pedder Ltd., & Dhanyalakshmi Investments Ltd., with this Comp. with effect from 1st April.
- EID Parry Ltd, part of Murugappa Group, has launched a new website www.eparryware.com to showcase its sanitaryware products being produced under the brand name Parryware.
2001 - Crisil has reaffirmed the AA rating assigned to the various non-convertible debenture programmes of EID Parry [Indias] Ltd.
2002
-Acquires 22,50,000 equity shares of Rs.10 each in SanthanaLakshmi Investments Pvt Ltd, which has become subsidiary of EID.
-Invensys India Pvt Ltd finishes the performance based automation project at the Pudukkotai Sugar mill of company.
2003
-Board approves for scheme of demerger whereby the company farm inputs division comprising of Fertilizers and pesticides would be demerged into Coromandel Fertilizers Ltd.
-Lunches 'Experiencecentre' in Bangalore.
-Bags orders for installation of hands free integrated electronic flushing urinal system in schools.
-Diversifies into contract farming & branded marketing of rice.
-Mr R Seshasayee, Director resigns from the Board of company.
-Company has informed that the Hob'ble High Courts of Judicature at Madras & Andhra Pradesh have sanctioned the Scheme of Arrangement for demerger of Farm Inputs Division of Comp. to Coromandel Fertilisers Ltd [CFLs] & the amalgamation of Parry and Comp. Ltd [P&COs] & Mofussil Warehousing & Trading Comp. Ltd [MWTs], the companies wholly owned subsidiaries with the Company.
-Mr RS Nanda, has resigned as a Director of Company.
2004
-EID Parry contemplates on Nellikuppam plant sale
-EID Parry - Divestment of equity shares in Parry Confectionery
-MR S.M. DATTA, former Chairman of Hindustan Lever Ltd, will take over as the Chairman of EID Parry [Indias] limited The incumbent Chairman of company, Mr M.V. Subbiah, has retired, on attaining the age of retirement. Mr Subbiah will also be relinquishing office from the other statutory board positions of Murugappa group companies
-EID Parry [Indias] Ltd has informed that at the Board Meeting held on January 19, 2004, Mr. P. Rama Babu, Whole time Director has been redesignated as Managing Director
-Opens Annual Maintenance Contracts [AMCss] for bathrooms, first of its kind in the country
- EID Parry [Indias] Ltd sanitary ware manufacturing plants at Ranipet, Alwar & Dewas have been given the ISO 14001: 1996 Environment Management system certifications by British Standards Institute.
-E.I.D. Parry launches 'Parry Pure Refined Sugar'.
2005
-EID Parry acquires New Horizon Sugar Mills for Rs 50.20 crore
2006
-EID Parry on December 08, 2006 has signed a Joint Venture Agreement [JVs] with Cargill Asia Pacific Holdings PTE Ltd, [Cargills] a wholly owned subsidiary of Cargill International, consequent to which the parties have made an initial subscription to the share capital of Parrys Sugars Refineries Pvt Ltd.
2009
- EID Parry India Ltd has informed that Mr. Sridhar Ganesh has been appointed as an Additional Director [Non Executive Non Independent Directors] of Comp. with effect from March 20, 2009.
