Anik Industries Ltd Share Price

History of Anik Industries Ltd

Anik Industries Limited (Formerly known as Madhya Pradesh Glychem Industries Limited) was incorporated as a Limited Company on February 10, 1976 as a joint venture between the M P State Industries Corporation and a private promoter, Chemical Construction Company Pvt Ltd, to set up a solvent extraction plant. The Company name was changed to Anik Industries Limited from Madhya Pradesh Glychem Industries Limited on January 30, 2006. The main business activities in which Company is dealing in Wind Power Generation, Housing& Property Developments, Trading activities by Import and Export of edible oil and other commodities. However, there was not much activity in MPGIL till 1985 when the Ruchi Group acquired the controlling interest from its erstwhile promoter. Apart from its 3000-tpa milk ...-processing plant, MPGIL has a 2.4-lac-tpa solvent extraction unit, which received the prestigious Solvent Extraction Association (SEA) award for the highest export of salseed extract during 1991-92. The company set up an 800-tpd food processing unit (soya unit) and a 100-tpd oil refinery at Gadarwara (Narsinghpur district), MP. It has diversified by setting up a dairy unit at Dewas, with ultra-modern facilities to process upto 1.5 lac ltr of liquid milk daily, and to manufacture skimmed milk powder, butter, ghee, cheese, dairy whitener, etc. The plant was designed by Alfa Laval, Sweden, to produce skimmed milk powder according to specifications demanded by the export market. The company made a public issue in Mar.'94 to part-finance these projects with a Rs 19.48-cr public issue of equity shares at a premium of Rs 15. The dairy unit of the company commenced production in Dec.'95. The company is also finalising tie-ups for the export of edible casein and lactose from its dairy unit. The company was awarded, the third highest exporter of soyabean meal in the private sector and the third highest processor of soyabean in the private sector by the Soyabean Processors Association of India for the year 1997-98. During 1999-2000, the company has been conferred with Certificate of Merit for highest sale of soya protein concentrate/isolet from SOPA (The Soyabean Processors Association of India). The Company commissioned its new composite plant consisting of 600 tpd Edible Oil Refinery and 150 tpd Vanaspati at Halda, West Bengal on Dec 2002. The Company ventured into electric power generation by commissioning wind based power project in Rajasthan in 2004. During 2005-06, a restructuring and consolidation process within the Ruchi Group had taken place vide a Composite Scheme of Arrangement and Amalgamation, through which the Company had transferred its Soya Processing, Vegetable Oils & Fats and Food Businesses (other than Dairy Business) (SVF Business) to Ruchi Soya Industries Limited on Slump Sale basis. In another measure of consolidating itself in Dairy Business, a dairy company M/s. Anik Industries Pvt. Ltd. got merged with the Company and the said Scheme was made effective from 4th September, 2006. And resulting to these, the Company was renamed as ' Anik Industries Limited' effective on September 8, 2006. The Company in March, 2008 had established a New Milk Processing Plant at Bhopal, in Madhya Pradesh. It launched an integrated township project named 'Active Acres' at Kolkata in 2008. It diversified into the Mining Business in setting up mineral based industries. The integrated township project 'Active Acres' at Kolkata was launched during 2008. A new Milk Processing Plant with capacity to produce 30 Tons Milk Powder per day by processing 4 lac litres per day was commissioned at Dewas, in Madhya Pradesh. During 2012-13, the Company launched liquid milk in tetra pack with longer shelf life. It started operation in Raipur, (Chhattisgarh). The Dairy Business of the Company was sold as a going concern on Slump Sale on March 7, 2016. The Company during 2016-17 started one more project of service apartments and luxury residences in the name of One Rajarhat' at Kolkata comprising 320 apartments.