Black Rose Industries Ltd Share Price

History of Black Rose Industries Ltd

Black Rose Industries Limited, formerly known Asia Fab Limited was incorporated in January, 1990 with the Registrar of Companies, Maharashtra at Bombay and obtained the Certificate of Commencement of Business on August, 1991. The name of the Company was changed to Black Rose Industries Limited w.e.f. January 15, 2007. The Company is primarily engaged in manufacturing and distribution of chemicals. The company set up a unit at Hatkanangale (Kolhapur district), Maharashtra, with an installed capacity of 500,000 mtr pm. To part-finance the project, the company came out with a public issue Apr.'92. The company has a technical-cum-marketing tie-up with a leading Japanese multinational trading house. The company's weaving section went on stream in Jun.'92 and the processing section commenced ...operations in Aug.'92. The company was undergoing reconstruction under the provision of SICA,BIFR has passed the rehabilitation package which was framed by Union Bank of India. The company's wholly owned Japanese subsidiary, B.R. Chemicals Co., Ltd. was formed in Japan during April, 2011 and began operation from May 2011. India's and South Asia's first and only acrylamide plant set up by the company commenced commercial operations during the year 2013 - 2014. The installed capacity of acrylamide plant was enhanced from 10,000 MT to 14,000 MT per year in 2016-17. The Company began small scale commercial production of polyacrylamide liquid in October 2019. The plant was expanded in Jan' 2020 to a capacity of 6600 MT. The Company embarked on a major expansion for the manufacture of polyacrylamide liquids (40,000 MT) and polyacrylamide solids (10,000MT) in 2019. It invested Rs 126 lakhs towards building up the initial annual capacity of 6,600 MT of the polyacrylamide liquid plant during 2019-20. The Company also expanded its acrylamide production facility. From 14,000 MTPA, the capacity has been increased to support 20,000 MTPA of merchant sales and additional volume for captive consumption as intermediate monomer for the production of polyacrylamides. A capital investment of Rs 421 lakhs was made towards this expansion during the year. The Polyacrylamide Liquid Plant at Jhagadia, Gujarat which expanded to 40,000 MT was commissioned in FY 2021. The Company commenced commercial production of acrylamide powder, with an installed capacity of 3,600 MTPA at the manufacturing unit in Jhagadia in 2022-23.