BINANI INDUSTRIES Share price

Binani Zinc Limited (BZL) is an existing profit makingCompany The Company was incorporated on 2nd August 1962 asCominco Binani Zinc Ltd. The Company was promoted by BinaniMetals Limited in technical and financial collaborationwith Cominco Ltd. Canada. The certificate of commencementof business as issued by the Registrar of Companies WestBengal at Calcutta is dated 12th November 1962. TheCompany commenced its commercial production on 22nd April1967 for the manufacture of zinc and its by-productssulphuric acid and cadmium.The Company is one of the two primary manufacturers ofElectrolytic Zinc in the country and the only one in theprivate sector.In line with their overall world strategy Cominco Ltd inMay 1991 disinvested their holdings in terms of the schemeof arrangement-cum-reduction of share capital which wasapproved by the general body of Shareholders the CalcuttaHigh Court and other agencies. Cominco Ltd. was paid aprice of Rs.450 per Equity Share by the Company effectedthrough reduction of Share Capital (Rs.151.20 lakhs) andGeneral Reserves (Rs. 529.20 lakhs). Consequently theCompany''s name was changed to Binani Zinc Ltd.The Company''s manufacturing facilities are located atBinanipuram Ernakulam District Kerala.The present installed capacity of the unit is 20000 tpa ofzinc metal complemented by by-product capacity of 36000tpa of sulphuric acid and 36 tpa of cadmiumEver since its inception the Company has been in theforefront of achieving quality products with equalemphasis on energy conservation and environmental pollutioncontrol.Since its inception the Company has pursued a consiciouspolicy of selecting a state of art technology and has beenconstantly upgrading it. The Company had undertaken amodernisation-cum-expansion project to increase thecapacity of zinc production to 30000 tpa alongwithcommensurate increase in capacity of by-productsviz. sulphuric acid and cadmium and the commercialproduction of the same is expected to commence in the firstquarter of 1995.* The Company has been the first to venture into electrolytic zinc manufacture in the country and has the distinction of casting the first H.G. Zinc Ingot in the country (on 22.4.1967).*The Company''s zinc plant is the first in the country to commence special high grade quality of zinc since the late eighties - something which till then was entirely imported.*The Company has been devoting great attention to a clean and green environment and has been consistent recipient of certificates/awards for its pollution control efforts from the Pollution Control Boards.STATUS OF THE ONGOING MODERNISATION CUM EXPANSION PROGRAMMEOF THE EXISTING ZINC PLANTThe ongoing modernisation and expansion programme forincreasing capacity to 30000 tonnes per annum is nearingcompletion and commercial production is expected tocommence in the first quarter of 1995 as scheduled.