Chemiesynth (Vapi) Share price

Chemiesynth (Vapi) Ltd. is the flagship Company of theChemiesynth group of companies located in Vapi and engagedin the manufacture of Nitro Chiom Benzenes Chloro Benzenesand allied chemicals and dye intermediate products. CVLoriginally came into existence as a partnership firmM/s. Chemiesynth on 5/5/1973. Chemiesynth (Vapi) Pvt. Ltd.incorporated on 24/4/1986 and registered with the Registrarof Companies Gujarat at Ahmedabad took over as a goingconcern the partnership firm M/s. Chemiesynth on25/11/1987. The consideration for the take over wasdischarged by the issue of 14700 Equity shares of Rs. 100each aggregating to Rs. 14.70 lacs.Consequent to the scheme of amalgamation duly approved bythe High Court of Gujarat by its Order dated 12/10/1994the business of Respro Chemical Industries Pvt. Ltd.(IRCIL) another venture promoted by the promoters of CVLwas merged with the operations of Chemiesynth (Vapi)Pvt.Ltd. with effect from 1/4/1993. RCIL was incorporatedon 28/1/1972 with registered office at GIDC Estate VapiDistrict Valsad Gujarat with a paid up capital of Rs.1171000 divided into 11710 shares of Rs. 100/- each theentire capital being held by Chemiesynth (Vapi) PrivateLimited as a result of which RCIL became a wholly ownedsubsidiary of Chemiesynth (Vapi) Pvt. Ltd. The merger wasaffected to achieve better economies of productionadministrative convenience more efficient utilisation ofresources and for realising synergies of operation whichwould result in reduction in costs of production as alsocombine operations for future expansion diversificationand sourcing of long term finance.The company became a Public Limited Company within themeaning of Sec.3(1)(iv) of the Act by passing a specialresolution u/s 44 of the Act on 17/11/1994 changing itsname from Chemiesynth (Vapi) Private Limited to Chemiesynth(Vapi) Limited and by adopting a new set of Articles ofAssociation w.e.f.17/11/1994.The chief promoters who are technocrats are Shri Satish BZaveri a Chemical Engineer from London University withover 25 years of experience in industry and Shri BhanuraiN. Mehta an Automobile Engineer with over 25 years ofexperience. Details of promoters'' experience is givenelsewhere in this OSD.Present Business:The company is engaged in the manufacture of variouschemicals and intermediates for the production of dyespesticides drugs and veterinary drugs. The range ofproducts include various Chioro Benzenes and Nitro ChloroBenzenes. The products are sold directly to large end userssuch as Jaysynth Dyechem (I) Limited Bayer (India) Ltd.Sandoz (I) Ltd. Indian Dyestuff Industries Ltd. IndianExtractions Ltd. etc. as well as to large multinationalslike ICI Ltd. Sandoz Huningue S.A. Hoechst CalaneseCorporation BASF Italia Spa etc. to whom it exports. The company exported products of the value of Rs. 498 lacs(FOB Value) during 1994-95 (direct export and throughexport houses). It has an installed capacity to manufacture7200 MT. of Nitrochlorobenzenes and 600 MT. ofChlorobenzenes. The existing plants of the company arelocated at GIDC Vapi Dist. Valsad Gujarat.MAIN OBJECTS OF THE COMPANYThe main Objects of the Company as set out in the Memoradum of Association are as under:To carry on business as manufacturers formulators processors producers makers buyers sellers resellersimporters e porters distributors suppliersfermentators distillers refiners stockists agentsmerchants of dealers in chemicals chemical compounds (organic and inorganic) in all forms (solid liquid and gaseous)and of all kinds heavy chemicals acids alkaliestannins tannin extracts Solvents dyestuffs diesintermediates colours textiles auxiliaries Chemicalauxiliaries disinfectants insecticides fungicidesbio-chemicals and its related preparations articles andproducts.SUBSIDIARY OF THE COMPANYThe Company has no subsidiaries within the meaning of theCompanies Act 1956.