Camlin Fine Sciences Ltd

History of Camlin Fine Sciences Ltd

Camlin Fine Sciences Limited was originally incorporated on November 30, 1993 as a Private Limited Company with the name of 'Camlicon Consultants Private Limited'. On June 1, 2006, the Company name was changed from Camlicon Consultants Private Limited to Camlin Fine Chemicals Private Limited. As per the Scheme of Arrangement, the Fine Chemicals Division of Camlin Limited got demerged and transferred to the Company effective from July 01, 2006. On August 11, 2006, the Company status was converted into Public Limited Company and the name was changed to Camlin Fine Chemicals Limited. W.e.f. 27th August, 2011 name of the Company was changed from Camlin Fine Chemicals Limited to Camlin Fine Sciences Limited. The Company is one of the India's leading manufacturers and exporters of Bulk Drugs, Fine Chemicals and Food Grade products. It manufactures active pharmaceutical ingredients (API's), food antioxidants and sweeteners. They operate in two business divisions, namely Food Ingredients Division and Industrial products Division. The company's products have applications in processed foods, edible oils, paints, polymers, alternative fuels (biodiesel), rubber, health, and pharmaceuticals. The company has a strong research and development which is focused on bringing in continual improvements on process and products, backward integration and developing innovative products. The research and development is equipped with comprehensive and updated instrumentation for conducting qualit ...y analysis, stability studies. The research and development also is equipped to conduct application studies on stability index of edible oils and Bio-diesel. In April 2006, the main object of the Company was altered to enable the Company to pursue business in Fine Chemicals. They launched a new product namely, 'Sucralose' which is a synthetic sweetener with large demand and attractive price. The company entered into a joint venture with Viachem LLC USA on 51:49 basis and set up a company namely, Dulcette Technologies LLC for marketing Sucralose, Aspartame and Acesulfame-K and their blends in USA, Canada and Mexico. In March 30, 2007, the equity shares of the company were listed on the Bombay Stock Exchange (BSE). During the year 2007-08, the company increased the production capacity of Chemical & Chemical Products from 1,636 Ltrs/Kgs to 2,476 Ltrs/Kgs. The company acquired the control of Sangam Laboratories Ltd by acquiring 60% of the paid up equity share capital of the company. They invested Rs 5 lakh for controlling interest in the Equity Share Capital of Chemolutions Chemicals Ltd. In February 2008, the company entered into a joint venture agreement with Advanced Aerospace Technologies Inc., USA' to manufacture and market speciality fine chemicals primarily to cater to European and U.S markets. During the year 2008-09, the company expanded the production capacity of Chemical & Chemical Products from 2,476 Ltrs/Kgs to 2,548 Ltrs/Kgs. The company invested Rs 25.50 lakh in Fine Lifestyle Brands Ltd and Rs.5.10 lakh in Fine Renewable Energy Ltd, which represents 51% of equity share capital of each of them. They further invested Rs 92.32 lakh in the share capital of their present subsidiaries, namely Sangam Laboratories Ltd, Chemolutions Chemicals Ltd and Dulcette Technologies LLC, USA. During the year 2009-10, the company expanded the production capacity of Chemical & Chemical Products from 2,458 Ltrs/Kgs to 3,500 Ltrs/Kgs. They are entering the field of Bio technology products and first patented, biotechnology based Natural shelf life enhancing formula for increasing shelf life of Natural farm produce, like fruits, vegetables and flowers. During the year 2011, Chemolutions Chemicals Limited, Fine Lifestyle Brands Limited and Fine Renewable Energy Limited ceased to be subsidiaries of the Company. The Hon'ble High Court Bombay, vide order dated 21st April, 2011 approved Scheme of Amalgamation for merger of Sangam Laboratories Limited, a 100% owned subsidiary with the Company. The establishment of two major business divisions, namely, Food and Industrial Products was completed. The Company expanded its manufacturing capacity of the food antioxidants, Ascorbyl Palmitate, TBHQ and BHA in 2012-13. In January 2016, it started operations in Central America with the launch of CFS Antioxidantes De Mexico, S.A. de C.V., a 100% subsidiary of Camlin Fine Sciences Ltd., acquired 65% stake in Dresen Química S.A.P.I de C.V, a leading food and feed blend company in Mexico; launched CFS North America, LLC, a 100% owned subsidiary of CFS for manufacturing and selling of customised antioxidant blends; launched Evanil, ethyl vanillin for food and bakery industry. On 15th April, 2016, a 100% wholly owned subsidiary CFS International Trading (Shanghai) Ltd. was incorporated in China (Shanghai) pilot free trade zone to manufacture and deal in speciality chemicals. On 22nd March, 2017, Chemolutions Chemicals Limited (CCL) allotted 62,67,003 equity shares on preferential basis to the Company. Post allotment, the shareholding of Company in CCL was 94.08% and CCL became the subsidiary of the Company. In July 2017, Company through its wholly owned stepdown subsidiary viz. CFS Europe S.p.A. acquired 51% stake in CFS Wanglong Flavours (Ningbo) Co. Ltd. erstwhile Ningbo Wanglong Flavors and Fragrances Company Limited. In April 2018, Company signed a joint venture contract with Pahang Pharma (S) Pte. Ltd., Singapore (Pahang) for incorporating a holding company, shareholding in the proportion of 51:49, named CFS Pahang Asia Pte. Ltd. in Singapore. In 2019, the Company reverse merged its wholly owned subsidiary in Mauritius viz., CFCL Mauritius Private Limited into CFS Europe Spa, Italy effective 25th June, 2019 and resultant to this merger, CFS Europe Spa became a wholly-owned subsidiary. The reverse merger of CFS Antioxidnates De Mexico De CV with Dresen Quimica SAPI De CV was effective 31st January, 2019 and resultant to reverse merger, CFS Antioxidantes De Mexico S.A. de. C.V. ceased to be the wholly-owned subsidiary of the Company from the aforementioned date. As a part of this initiative, Company acquired a company situated in Southern part of India, namely, AlgalR Nutrapharms Private Limited (AlgalR) which manufactures oils containing Omega 3 Fatty Acids. The company embarked upon its largest greenfield expansion in 2018 in Dahej, Gujarat for a green-technology-based DiPhenol plant for a 10,000 MT Di-Phenol facility. And in September 2020, it announced the commercial production of Hydroquinone and Catechol. During the financial year 2021-22, AlgalR NutraPharms Private Limited and CFS De Mexico Blends SAPI De CV became subsidiaries and Fine Lifestyle Brands Limited has ceased to be a Associate of the Company. The Company initiated the commercial production of Vanillin and Ethyl Vanillin in Dahej in January, 2023 in FY 2024.