Privi Speciality Chemicals Share price

The Company was incorporated as a public limited Company on May25th 1985 under the name H.K. Agro Oil Ltd. The Company wasincorporated in May 1985 with an objective to deal in ediblegrade oil. As in well-known Gujarat is a major centre foredible grade oil. However it was found on detailed study thatthe available technology was not very attractive and lot ofeffort in terms of time and money was required for creating''brand equity'' of edible Rice Brain Oil. At this stage theobjective of manufacturing edible grade oil was put on hold tillbetter and improved technology was available.Subsequently some time in the year 1991 Shri RajanHarivallabhdas read about the superior oil for better health andit was found that rice bran oil was one of the best. TheCompany then explored the possibility of separating Rice Bran OilGrade I and Distilled fatty acids from Crude Rice Bran Oil.Shri Rajanbhai did an extensive touring abroad with atechnical expert and found UIC''s Short Path Distillation(SPD)'' unit as the best available equipment for thepurpose. As the viability of the project for separation ofoil and fatty acids alone was not upto the desired levelefforts were against on for finding suitable technology fordevelopment of Monoglycerides and further separation offatty acids into Palmitic Acid Oleic Acid and LinoleicAcid. Sulzer Switzerland offered its latest technologyfor the said purpose. Shri Rajanbhai again took extensivetrials on pilot scale abroad and found the technology rightfor the purpose. The entire exercise mentioned in thisparagraph took almost two years and as the results werevery encouraging and as no one in India had even thought ofmaking high grade fatty acids from Crude Rice Oil it wasdecided to go ahead with the project. Accordingly a firmpurchase order was first placed with M/.s. UIC Inc. U.S.Ain August 1993 for one unit of KD 12 SPD.The Company is setting up facilities for the manufacture of 3248tpa of Distilled Fatty Acids like Oleic Acid Linoleic Acid andPalmitic Acid 2894 tpa Rice Bran oil Grade -1 and 625 tpa ofMonoglycerides. The Company was originally incorporated with an intention toenter into the business of manufacture/process of "Oil".However on account of economic considerations it was considereddesirable to enlarge the scope of activities and its was thenproposed to process/manufacture high grades of fatty acids ofmonoglycerides also. With a view to appropriately reflect theCompany''s proposed multi-product activities it was considereddesirable to change the name of the Company to H.K. Agrochem Ltdbuy passing the necessary resolution under Section 21/31/44 ofCompanies Act 1956 on June 14th 1994 and a certificate to thiseffect has been given by the Registrar of Companies Gujarat onJuly 15th 1994.The Company is planning to use state of the art technology inorder to produce fatty acids Monoglycerides and Rice Bran OilGrade-1 conforming to industrial standards. In order to ensurethis the Company has got contracts with UIC Inc Of USA whoshall be providing the plant ensuring installation and productquality. t