History of Rallis India Ltd.
YEAR EVENTS 1948 - The Comp. was incorporated on 23rd August, at Calcutta. The Comp. manufacture & sell pharmaceuticals, super phosphate, fertiliser mixtures, pesticides, hydrosulphite of soda, electric fans, petrol fans, petrol engines & garments & also to trade in fertiliser, cotton, tanning materials, piece goods, textiles, crushed bones & marine products. The Comp. had distribution arrangements for single & compound fertilisers, electric fans, stationary & portable machine tools, electrical appliances, power sprayers, pharmaceuticals, chemicals, & household products. Rallis Brothers Ltd., was incorporated in West Bengal to carry on business in India.
- 75,000 Pref. Shares & 92,095 No. of equity shares issued to Ralli Bros. limited 405 No. of equity shares to director and signatories to Memorandum of Association. 1,32,500 No. of equity shares issued to Ralli Bros. limited on consideration of assets taken over from them.
1951 - 65,000 Pref. & 1,15,000 No. of equity shares [prem. Rs 15 per shares] offered for sale by Ralli Brothers, Ltd., to the Indian public.
1958 - The Comp. acquired the enterprise of Teddington Chemical Factory [Ps] Ltd.
1961 - Reddington Chemicals was merged with the Company.
1971 - Effective from 1st January, the Comp. negotiated the acquisition of assets of James and Co., a proprietary concern engaged in the canning of food under trade name SIL.
1972 - Tata Fison Industries, Ltd., was amalgamated with the Company with effect from 1st September. The shareholders of Tata Fison were allotted 3 fully paid-up Equity shares against 4 fully paid-up Equity shares, & 3 fully paid-up Equity shares plus 3 fractional certificates representing one tenth Equity shares against eight, Rs 55 paid-up Equity shares. The Company's subsidiary Rallifan, limited was merged with it with effect from 31st August, 1966.
1973 - Since September, the Comp. became a subsidiary of Rallis India, limited This was amalgamated with the Comp. effective from 30th June, 1987.
- 93,000 No. of equity shares issued as fully paid-up to shareholders of Tata Fison Industries, limited pursuant to the Scheme of Amalgamation.
1976 - 63,600 Right Equity shares issued in prop. 1:3 at a premium of Rs 25 per share on 5th January. 31 Right Equity shares forfeited. 1,14,470 Bonus Equity shares issued in prop. 3:10.
1978 - The subsidiary Ralli Chemicals limited was merged with the Company with effect from 1st September.
1981 - With effect from 1st September, Whilfens [Indias], limited was amalgamated with the Company. The shareholders of Whilfens were allotted 18,473 No. of equity shares of Comp. in the proportion of 1 Ralli share of Rs 100 each for every 6 No. of equity shares of Rs 10 each held in Whilfen.
- 33,331 shares allotted to Financial Institutions as part conversion of their loans. [8,333 to ICICI, 8,333 to UTI and 8,332 to GIC & its subsidiariess] & 18,473 shares allotted to erstwhile shareholders of Whilfens [Indias] Ltd., which was amalgamated with the Company.
1982 - The Comp. acquired 2,10,286 No. of equity shares of Rs 10 each of Protein Products of India, limited which was deemed a Government Comp. pursuant to Section 619 B of Company Act. The Comp. along with its subsidiaries - W.T. Surin and Co., Ltd., Ralli Machines Ltd., & Ralliwolf, limited held 60% of equity capital of Protein Products of India, Ltd [PPIs]. Hence, PPI became a subsidiary of company.
1983 - Protein Products of India, Ltd., which manufactures gelatine, ossein & di-calcium phosphate, was merged with the Comp. with effect from 1st September. The merger became effective on 17th March, 1986.
1985 - 16,441 No. of equity shares allotted without payment in cash to the Protein Products of India, limited on its merger with the Company.
1986 - The Plants for manufacture of two new pesticides were commissioned at Ankleshwar.
- The Comp. issued 3,95,000 - 13.5% secured redeemable partly convertible debentures of Rs 500 each during the year. Out of the total issue, 18,811 debentures were offered to the employees of Comp. & the balance of 3,76,189 debentures were offered to the existing equity shareholders in the proportion of 2 debentures to 3 equity shares held. Out of employees' quota, only 11,834 debentures were taken up while the offer for shareholders was over-subscribed. Thus, a total of 3,88,023 debentures were allotted on 1st May, 1987.
- Pursuant to the terms of issue of debentures, the Convertible portion of Rs 250 out of each debenture was compulsorily and automatically converted into 10 equity shares of Rs 10 each of the Comp. at a premium of Rs 15 per share effective from 1st November, 1987.
- The Non-convertible portion of Rs 250 out of each debenture bearing interest at 13.5% per annum would be redeemed on maturity on 30th April, 1997.
- The Comp. cancelled its 75,000 - 6% preference shares of Rs 100 each on 1st June, & in lieu thereof allotted 75,000 - 15% non-convertible debentures of Rs 100 each to the erstwhile preference shareholders.
1987 - A modern bulk drug plant was commissioned at Ankleshwar to manufacture new drugs.
- Plans for manufacture of three new pesticides were commissioned & implementation of fully export-oriented basic chemical manufacturing facility was in progress.
- Ralli Machines limited [RMLs], a subsidiary of Comp. was amalgamated with the Comp. with effect from 1st June.
1988 - The Agrochemicals division launched four new products during the period. The Research & Development centre of agrochemicals division set up a comprehensive toxicological laboratory at Bangalore.
1989 - The agro chemicals division completed & commissioned new facilities for manufacture of Acephate & Cypermethrin. New facilities were set up for export oriented fungicides and achieved a two-fold expansion of productions of Captafol. In addition, a new facility for an intermediate required in the production of Fenvalerate was set up & commissioned.
- 7,627 No. of Equity shares allotted without payment in cash to shareholders of Rallis Machines, Ltd., on its merger.
1990 - With considerable expertise gained in the designing and commissioning of chemical plants, the agro chemicals division entered the field of project exports.
- At the meeting held on 21st November, the Comp. decided to dispose of Engineering undertakings as well as the Company's direct & indirect shareholders in the Engineering subsidiaries Ralli Wolf limited & the Indian Standard Metal Co., Ltd.
1991 - The Agro chemicals unit signed a turnkey contract with the National Petrochemical Comp. of Iran for a 2500 TPA/500 TPA.
- A new facility for parenterals was put into operation at Aurangabad. The pharmaceutical division diversified into Ayurvedic products range.
- In term of orders of High Courts at Mumbai & Ahmedabad dated 4.5.1991 & 13.5.1991, Accumax limited was merged with the Comp. on 26.6.1991 with retrospective effect from 1.1.1988. As per the terms of merger, 60,800 shares of Rs 10 each were allotted to the shareholders of Accumax, Ltd.
- Ahura Consultants and Investments limited [Ahuras], a subsidiary of the Comp. was amalgamated with the Comp. with effect from 1st April.
- The Comp. offered 11,91,337 - 12.5% secured partly convertible debentures of Rs 160 each on Rights basis in the proportion 1 debentures: 8 equity shares held [All were taken ups].
- Another 59,570-12.5% debentures were issued to the employees on an equitable basis [only 5,211 debentures taken ups]. The unsubscribed portion of 54,359 debentures was allowed to lapse. Rs 80 of face value of each debenture was to be converted into 2 equity shares of Rs 10 each at a premium of Rs 30 per share on the expiry of 6 months from the date of allotment of debentures. Remaining Rs 80 of face value of each debenture was to be redeemed at par on the expiry of 10 years from the date of allotment of debentures.
- 23,93,096 shares allotted [prem. Rs 30 per shares] on part conversion 12.5% partly convertible debentures on 19.2.1992.
1992 - Tata Tea limited [TTLs] proposed to make an offer to the resident Indian equity shareholders of Comp. to acquire upto 24.99% of existing equity share capital of Company.
1993 - The Comp. proposed to enter real estate development business.
1995 - The agrochemicals division performed well & the unit introduced a range of other agro products as an input-supply agency. The performance of pharmaceutical division affected due to non-availability of Dextran products. Production of fine chemicals was affected due to non-availability of raw materials such as hydrochlorine and, bones etc.
1996 - The pharmaceutical division registered an impressive performance & new products were introduced.
- 350,00,000 pref. shares allotted as private placement basis and they would be redeemed at the end of 3 years from the date of allotment i.e. on 28.2.2000 and 30.3.2000 with pvt. and call option at the end of 2 years.
1997 - Three new high margin products introduced during the year contributed to the success of division. Gelatine business was affected. The leather chemicals business introduced a new range of finishing chemicals in collaboration with a U.K. Company. Further expansion was planned in collaboration with a Dutch Comp. & with their support it was proposed to introduce a range of high quality fat liquors.
- British drug group Phytopharm Plc said on November 3 it had signed a long-term agreement with Rallis India Ltd to develop products based on medicinal plant extracts.
- Rallis is part of India Tata Group, the country largest business conglomerate.
- Rallis is the largest agro-business Comp. & the second largest seed producer in India.
- Rallies has successfully introduced quality hybrid seeds in collaboration with Cargill Seeds of USA & Bejo Zaden, Holland.
1998 - Rallis India has forged a marketing alliance with the world's largest producer of fertilisers, Norsk Hydro of Netherlands, to market speciality fertilisers.
- ICRA has assigned an `A1+' rating to the Rs.10 crore commercial paper programme of Rallis [Indias] Ltd [RILs]. The rating indicates highest safety.
- The Comp. has recently entered into separate licencing agreements with Switzerland-based pharma Comp. Geisltch, and Netherlands-based Euro Drug.
- The Comp. has proposed to convert one of its existing pesticide units for producing special grade polymers for fabricating interiors of aircraft.
- Rallis has also become the first Indian Comp. to isolate a gene construct which marks the company entry into the realms of genetically-engineered plants.
- Rallis has also recently become only the second producer in the world, & the first in India, of pendimethylene, the world's number two herbicide.
- The Comp. has developed a 600 acre farm near Nashik in Maharashtra with technical collaboration from Mitsubishi Corporation of Japan.
1999 - The Comp. has been working closely with sericulturists and farmers in an attempt to develop the venture. The Comp. is also introducing international irrigation & sericulture techniques to improve yields, & productivity.
- Tata group agrochemical major Rallis India has set up a new Comp. called Rallis Farm Management to provide advisory and technical services in the agri sector.
- Rallis had recently set up a new Comp. -- called Rallis Farm Management -- to provide advisory & technical services in the agricultural sector.
- Rallis India limited & American multinational Monsanto have signed a memorandum of understanding [MoUs] to jointly develop & launch rural-development initiatives in India.
- Rallis India has entered into a pact with the $4.5bn FMC Ltd, the fifth-largest agrochemical producer in the world, under which it will formulate some of FMC products in India. The agreement, signed on August 6, extends a relationship which Rallis already has with FMC for a few other products.
- The rating agency, Icra, has downgraded the rating assigned to the Rs 5 crore non-convertible debenture [NCDs] programme of Mold-Tek Plastics Ltd [MPLs] from `LA+' to `LBBB+' indicating moderate safety.
2000
- Tata Metaliks managing director Rajeev Dubey will take charge as chief executive officer of Rs 1,256-crore Rallis India.
- Tata group company, has decided to pull out of its agrochemical joint venture with FMC Corporation citing restructuring within the overall Tata group & recent changes in the global agrochemical market.
-Rallis India, country largest agrichemicals company, has tied up with the UK-based fertiliser giant Borax Europe to market Solubor in India in line with the company strategy to market foreign companies products.
-Launching an interactive Website called rallikisan.com
-Sanat Products Limited [SPLs] in which Dabur India holds 30 per cent equity stake has signed a marketing tie-up with the Tata group Comp. Rallis India for distribution of its herbal OTC [over-the-counters] products in Africa & Sri Lanka.
-Obtained a sanction for a Rs 50-crore term loan from ICICI Ltd
2001
-Mr. R Gopalakrishnan, a director of Rallis India, has been appointed its vice-chairman. Gopalakrishnan is an executive director of Tata Sons & is a member of group executive office of Tata Group.
-Sells its pharmaceutical business to Shreya Impex, part of Moscow-based Shreya Corporation, for Rs 49 crore.
-Approves the merger of its wholly-owned subsidiaries with the company. The subsidiaries are Ralchem Ltd, Rallis Finance and Investments Co Ltd,
-Kicks off a downsizing exercise for reducing employees at the managerial level. Around 200-odd managers opt for an early separation scheme started by Comp. in April 15, 2001
-Fire breaks out at the Rallis Ankleshwar Plant Unit II. Seven workers sustain burn injuries. Leakage of inflammable gas from a fractioning column of unit manufacturing intermediate chemical CMAC used for manufacture of Cypermethrin, appeared to be the cause of fire.
-Launched its Web site, called www.rallis.co.in
-Sells its surplus land at Andheri, a Mumbai suburb, to Tata Consultancy Services [TCSs] for Rs 133 crore
-Approves merger of its wholly owned subsidiaries i.e. Rallis Finance & Investments Ltd., Rallis Farm Management Services Ltd., Rallis Hybrid Seeds Ltd., Ralchem limited & Sankhya Garments Ltd with the company.
2002
-Closes down four of its manufacturing units.The shut down four companies are Siris India unit [a loss making subsidiary of Rallis Indias], Ralchem Ltd second unit in Ankleshwar, a tanning & an agrochemicals unit at Ankleshwar.
-Enters into a new contract farming agreement with State Bank of India, ending its earlier agreement with ICICI Bank
-Mr. Rajeev Dubey, CEO and Executive Director of company, redesignated as Managing Director w.e.f.July 29, 2002
-Tata Chemicals limited issues termination notice to the Comp. in respect of marketing arrangement for urea
-Shareholders approve the Scheme of Amalgamation of its 5 subsidiaries [Rallis Finance & Investments Comp. Ltd., Rallis Farm Management Services Ltd, Rallis Hybrid Seeds Ltd, Ralchem Ltd & Sankhya Garments Ltd with the Companys]
2003
- Forges an alliance with Kureha Chemical Ltd, a leading Japanese company, for Metconazole fungicide plant
-Approves the merger of Siris India Ltd., a wholly owned subsidiary of company, with Rallis India Ltd.
-Mr. Rajeev Dubey resigs as Managing Director
-Dr. Venkatrao Sohoni appointed as Managing Director of Comp. w.e.f. August 11, 2003.
-Offers VRS to its staff
-Mrs. Shirin V. Balsara has resigned as Director [Legals] and Comp. Secretary of Comp. w.e.f. September 20, 2003
-Aproves the sale of Rallis House to Tata Consultancy Services Ltd for a total consideration of Rs 560 million
-The Lok Prakashan limited acquires 6,68,396 equity shares [constituting 5.58% of paid-up equity share capital of Companys]
-Registered office of Comp. changed from Ralli House, 21, D.S.Marg, Mumbai - 400 001 to 7th Floor, Apeejay House, 3, Dinshaw Vachha Road, Churchgate, Mumbai 400 020.
2004
-Board of Comp. decides to issue, on a private placement basis, 9,00,00,000, 7.5 % Cumulative Redeemable Preference Shares of Rs 10/- each, aggregating to Rs 900 million. The said issue shall open from January 2, 2004 to January 31, 2004
-Rallis India sells gelatine biz to Sterling Biotech Ltd
-Rallis India inks pact with Dupont India Pvt Ltd on April 5, 2004, for insecticide marketing
-Rallis India Ltd has informed that the Comp. & EI Dupont India Private Ltd on April 5, 2004 have entered into an agreement, whereby Comp. will co-market Dupont insecticide Indoxacarb & Dupont will co-market company insecticide Acetamiprid.
- Rallis India enters into marketing alliances with global players like Syngenta, Bayer & Dupont
2007
-Rallis India Ltd has appointed Mr. Veeramani Shankar as the Executive Director of Company.
2008
- Rallis India Ltd has informed that Dr. V S Sohoni has been appointed as Additional Director on the Board of Comp. with effect from March 01, 2008.
