Atul Ltd. (India)

The Company engaged in the business of manufacturing and marketing textile chemicals. The Performance and Other Chemicals include textile dyes, pigments, paper dyes, epoxy resins, hardeners, rubber adhesives, polyurethane adhesives and others, p-cresol, bulk intermediates, sulphones and others. Its six divisions include crop protection, pharmaceuticals intermediates, aromatics, bulk chemicals intermediates, colors, polymers. It serves various industries, such as aerospace, agriculture, automobile, construction, flavor and fragrance, pharmaceutical, textile and tire.
1975:The Company Incorporated on December 11, 1975 Atul Ltd (formerly Atul Products Ltd) was founded by Kasturbhai Lalbhai with a dream to make India self reliant in chemicals, generate employment on a large-scale and create wealth for the society. For translating his dream into reality, Kasturbhai Lalbhai brought his confidant, Ballubhai Muzumdar, an economist- and his son, Siddharth Kasturbhai Lalbhai, a chemical engineer, to lead Atul Ltd and establish a large chemical conglomerate. The Company became the first private sector company of India to be inaugurated by Jawaharlal Nehru, the first Prime Minister of the country. The Company thus commenced its business with just a few dyestuffs, the know-how of which was brought from foreign Companies.
1978:The Company was listed on Bombay Stock Exchange on April 28, 1978.
1979:The erstwhile Atul Products, Ltd. had issued 7.75 mortgage debentures of the face value aggregating Rs 450 lakhs and maturing during the year. The rate of interest increased to 11 per annum with effect from January 01, 1980. 3,26,000 Rights Equity shares issued in prop 1:10. Arrears: of Rs 23,215.
1983:The erstwhile Atul Products, Ltd. privately placed 2,00,000-15 non-convertible secured debentures of Rs 100 each aggregating Rs 2 crores.
1985:A scheme of Amalgamation of the erstwhile Atul Products Ltd., with Gujarat Aromatics Ltd. (GAL) was approved by the respective shareholders on December 21. In order to augment working capital resources, 3,90,000 - 15 non-convertible secured debentures of Rs 100 each were privately placed with UTI.
1986:The shareholders of the Company also approved the reduction of equity capital and then consolidation of the reduced shares at an extra-ordinary general meeting held on January 7.
1987:
The two new products xylenol and LABS introduced during the previous year were discontinued due to their poor performance.
-Another two new products viz., pure meta cresol and pure para cresol, were introduced during the year.
-Pursuant to the Scheme of Amalgamation of Atul Products, Ltd. with Gujarat Aromatics, Ltd., the Company s production and sales are reported under two units viz., the Atul unit and Ankleshwar/Aromatic unit.
-The Scheme of Merger was approved by the Department of Company Affairs. Approval of the Gujarat High Court was received on August 20, 1988.
1988:
-As per the Scheme of Amalgamation approved by the High Court Gujarat on August 20, Atul Products, Ltd. was merged with Gujarat Aromatics Ltd.
-Effective from September 14, the name the company changed from the Gujarat Aromatics Ltd. to Atul Product LTD. 75,00,000 No. of equity shares then allotted without payment in cash to members of Atul Products, Ltd. on its merger.
-In 1989:
-The R D unit was supplemented by addition of an unit for treatment of effluent from new products. It was proposed to set up projects for carbamate group of pesticides and 3,4,5 - trimethoxy benzaldehyde in the near future subject to Government approvals.
-In 1990:
-Cumulative Redeemable Pref. shares redeemed and authorised capital reclassified. 19,64,650 shares issued as Bonus in prop. 1:4.
-In 1991:
-During October, the Company issued 15,87,300-12.5 secured fully convertible debentures of Rs 120 each on rights basis in the proportion 8 debentures: 50 No. of equity shares held and 9,82,325-17 secured redeemable non-convertible debentures of Rs 150 each on rights basis in the proportion of 1 debenture: 10 No. of equity shares held.
-Only 8,60,208 debenture taken up. The balance 1,12,300 debentures were allotted to Mutual Funds/Financial Institutions.
-Additional 2,38,095 fully convertible debentures were allotted to retain oversubscription (Allotment of 279 debentures was kept in abeyance under section 206-A).
-Another 79,360-12.5 fully convertible debentures of Rs 120 each and 49,125-17 non-convertible debentures of Rs 150 each were offered to the employees.
-Only 1,096 NCDs were allotted to Financial Institutions/Mutual Funds and the balance 48,029 NCDs were allowed to lapse.
-Each fully convertible debenture of Rs 120 each will be converted into two equity shares of Rs 10 each at a premium of Rs 50 per share after the expiry of 6 months from the date of allotment. -Each non-convertible debenture of Rs 150 each will be redeemed in three equal instalments at the end of the 6th, 7th and 8th years from the date of allotment along with the premium of 5 payable with the final instalment.
-In 1993:
-The Company issued 27,26,552-14 secured fully convertible debentures of Rs 180 each for cash at par on rights basis in the proportion of 5 debentures: 25 No. of equity shares held. (all were taken up).
-Another 1,36,328-14 fully convertible debentures of Rs 180 each were offered to the employees. (only 38,203 taken up). -
Part A of Rs 45 of each debenture was converted into one equity share of Rs 10 each at a premium of Rs 35 per share on allotment of debentures.
-Accordingly 27,64,755 shares were allotted. Part B of Rs 135 of each debenture was converted into three equity shares of Rs 10 each at a premium of Rs 35 per share on October 1, 1994. -Accordingly 82,62,266 shares allotted. Ameer Trading Corporation, Ltd., (wholly owned) is a subsidiary of the Company. Akshar Investments Pvt. Ltd., and Cibatul, Ltd. are the subsidiaries of Ameer Trading Corporation, Ltd. Atic Colors Inc. a subsidiary of Atic Industries Ltd. became subsidiary of the Company following the merger of Atic Industries Ltd. with the Company.
-In 1994:
-Plants relating to the manufacture of para cresidine and para anisicaldehyde were commissioned.
-In 1995:
-Effective April 1, Atic Industries Ltd. was amalgamated with the Company. 9,00,000 Pref. shares issued during the year.
-In 1996:
-The new plant for manufacture of 3,000 TPA of para cresol would be commissioned.
-The name of the Company was changed from Atul Products Ltd. to Atul Limited. 335 shares issued. 50,000 preference shares issued during the year.
- The name of the Company was changed from Atul Products Ltd. to Atul Limited.
- 335 shares issued. 50,000 preference shares issued during the year
In 1998
-The Company was listed on National Stock Exchange in May 6, 1998.
-In 2002:
Mr A N Palwankar resigns the Directorship of the company and Mr. M K Tandon has been taken on the Board. Appoints S M Datta as the Additional Director of the company.
-In 2004:
The Company has informed that Dr. H Kaiwar, Director of the Company has resigned from the BoD s of the Company
-In 2007:
The Company has appointed Mr. Sunil S Lalbhai, Managing Director CEO as Chairman of the Company with effect from August 29, 2007.
-In 2010:
The Company has appointed Mr. V S Rangan as an Additional Director of the Company with effect from July 19, 2010. He will be an (Independent Director).
In 2011:
- Atul and MDohmen collaborate to offer a complete solution to valued customers
-Wholly Subsidiary of Atul Limited namely Atul Europe Limited has acquired 88 shares of D.P.D. Ltd {an U.K. Company)
- Atul - Rudolf joint venture
In 2012:
- Inauguration of ATUL Aromatic Plant by Honourable Chief Minister of Gujarat,Shri Narendra Modi
- Inauguration of Date Palm Tissue Culture Laboratory by Honourable Chief Minister of Rajasthan Shri Ashok Gehlot .
In 2013:
- Mr. R. A. Shah has been appointed as an Additional Director of the Company.
- The Company has recommended a dividend of Rs. 6.00 per share (60 ).
-The Company was listed on Metropolitain Stock Exchange in February 11, 2013.
In 2014:
- Mr Sunil Lalbhai, Chairman and Managing Director of Atul, has been named in the top 100 CEOs of India by BT-PWC India.
- The Company secures first position for Western India in Ruby Jubilee 40th National Competition for Young Managers 2014.
- The Company at its board meeting held on December 05, 2014 has decided to merge its associate company Amal Ltd with itself.
In 2015:
-IIA Excellence Award 2015 India for Innovation -National Quality Excellence Award 2015 for environmental sustainability -National Quality Award 2015 for creating wealth from waste -100 Most Talented Global HR Leaders Award 2015 for excellence in Human Resources -Atul Ltd has changed Registered Office of the Company located at Ashoka Chambers, Rasala Marg, Ellisbridge, Ahmedabad - 380006, Gujarat is shifted within the same city (Ahmedabad) to Atul House, G I Patel Marg, Ahmedabad 380014, Gujarat, India.
In 2016:
- Company Purchases 49 Equity Shares in Anchor Adhesives Private Ltd. 2017 - Atul Draft Scheme of Merger of Amal Ltd with Atul Ltd.
In 2017:
- Atul Draft Scheme of Merger of Amal Ltd with Atul Ltd.