India Glycols Ltd Share Price

History of India Glycols Ltd

India Glycols Limited, controlled by Delhi based Bhartia family was incorporated as UP Glycols Limited, and subsequently, the name of the Company was changed to India Glycols Limited effective from September, 1986. The Company has clients in various such as Textile, Agrochemical, Oil & Gas, Personal Care, Pharmaceuticals, Brake Fluids, Detergent, Emulsion Polymerisation & Paints, etc. The Company is leading manufacturers of Glycols, Ethoxylates, Performance Chemicals, Glycol Ethers & Acetates, Guar Gum and Potable Alcohol. It is the first company in the world to produce Ethylene Oxide (EO) / Mono Ethylene Glycol (MEG) from renewable agro route based on molasses, since 1989. India Glycols Limited (IGL) was promoted by Vam Organics to manufacture 20,000 tpa of monoethylene glycol (MEG ...) at Kashipur, UP. It produces diethylene glycol (DEG) and triethylene glycol (TEG) as by-products and ethylene oxide (EO) as an intermediary. The company has its plant located at Kashipur in Uttranchal. The company diversified into the manufacture of ethylene oxide condensates/derivatives and its new plant for this at a cost of Rs.40 Crores has commenced commercial production in Feb.'95. The Company set up an 100% Export Oriented Unit for manufacture of Guar Gum Powder and its derivatives and it has been registered as a 100% EOU. It commissioned speciality surfactants project in collaboration with Sanyo Chemical Industries Ltd in September 1997. During 2000-2001, CDS International Ltd became a subsidiary of the company. During 2001-02 the expansion of EO/MEG was completed and the production for the expanded capacity has also been commenced. In February 2005, the company commissioned enhanced capacity of MEG. The company undertook a scheme to produce RAB (concentrated sugarcane Juice) to product ethanol to supplement feed stock requirement for expanded capacity of MEG. The unit will be fully completed and commissioned by December 2005. The Hon'ble High Court of Uttaranchal vide their order dated July 15, 2004 and Hon'ble High Court of Karnataka vide their order dated September 12, 2005 amended on January 30, 2006 approved the scheme of amalgamation of M/s. CDS International Limited (100% subsidiary of India Glycols Limited) with the Company. During 2005-2006, the company commenced production at the newly set up facility to manufacture RAB on 1st February 1, 2006. Production at the new industrial gases plant commenced in January, 2006 and capacity of Oxygen, Nitrogen, Argon are installed with 10400 NM3/Hr, 2828 NM3/Hr, 232 NM3/Hr. A new distillery plant has been set up with an annual production capacity of 66,000 KBL, at Gorakhpur in Eastern UP. The plant has been commissioned in March 2006. The company is enhancing the existing capacity of Glycol Ether division from 17000 MT to 44000 MT. Glycol Ether Acetate capacity is also increased to 18000 MT. The company is diversifying in to the field of herbal farming and for the purpose herbal farms have been leased from Uttaranchal State Government. The company is also setting up Herbal Extraction unit under Foreign Technology Collaboration. The company is also adding up a Chiller Plant and carrying out modification to use methane blast in place of nitrogen blast. The company is setting up a Turbo Generator of 12 MW capacity. A new distillery was set up with an annual production capacity of 66000 KBL, at Gorakhpur in Eastern U.P. The Company installed Multi Effect Evaporator at Gorakhpur and Kashipur distilleries for concentration of spent wash (effluent) from distillery, utilised in boiler as fuel to produce steam and power in 2007. During the year 2006-07, newly set up RAB (concentrated sugarcane juice) unit was completely operational. During the year 2007-08, the Company acquired controlling stake in the Shakumbari Sugar & Allied Industries Limited (SSAIL), which operates a sugar manufacturing plant in the state of Uttar Pradesh with a crushing capacity of 3200 tones per day (TCD) along with a modern distillery of 40 kl per day (KLPD), producing highquality rectified spirit, ethanol and country liquor and an internal bagasse-fired co-generation plant of 3 MW catering to the captive power needs of the sugar and distillery units. It set up a 100% export-oriented unit (100% EOU)by the name of Ennature Bio-pharma Division. It also established a subsidiary in Singapore to augment its activities in the South East region and help the marketing of products from the supercritical fluid extraction facility at Dehradun to large buyers in the US and Europe. The Company completed Phase I of sugar manufacturing plant, which enhanced its expansion capacity from 3200 TCD to 5500 TCD and co-generation plant capacity was enhanced from 3 MW to 11.4 MW of power generation during FY 2008-09. During FY 2011-12, the Company set up two 45 TPH SLOP boilers, one at Kashipur and other one at Gorakhpur for fuel saving and for treatment of effluent. It expanded Guar Gum plant capacity to meet huge demand of Guar oil field derivatives in international market. During the year 2013-14, Company launched premium products under the brand name of 'V2O Vodka' in three flavors viz. Orange, Green Apple and Smooth. It extended the launch of Beach House Premium XXX Rum. The Ennature Bio-pharma division established Supercritical Fluid Extraction- CO2 and solvent extraction facility at Dehradun. The Gorakhpur Unit, commissioned a 12 MW Biomass based co-generation plant based on Multi-fuel i.e. Rice Husk & Concentrated Spent Wash (Slop) for Power generation and sale of the surplus power was started to the Power Grid. As on 31st March, 2015, the Company had 5 subsidiaries and 1 joint venture company. Further, during the year 2015-16, IGL Infrastructure Private Limited ceased to be subsidiary w.e.f. 14th September, 2015. In FY 2016-17, the Company launched Soulmate Blu', a Premium Whisky in semi-premium segment in the eastern states of Uttarakhand and Haryana. It started Country Liquor operations from its Gorakhpur Unit during FY 2018-19. It set-up Power Alcohol plants at Kashipur and Gorakhpur units each with a capacity of 100 KL per day. The Company launched IMFL brands namely, IGL Bunty Vodka Green Apple' and IGL Salute Premium Whisky in Tetra Pack (180 ML), a Premium Vodka and Whisky in semi-premium segment in the State of Uttar Pradesh in FY 2019-20. During year 2020-21, two new wholly-owned subsidiaries-IGL Green Chemicals Private Limited and IGL Chemicals and Services Private Limited were incorporated. In FY 2021-22, the Company formed a 49:51 Joint Venture with Clariant International Limited for Company's BioEO (Speciality Chemicals) Business and approving setting up grain distilleries at Kashipur and Gorakhpur sites. The Company formed a 49:51 Joint Venture with Clariant International Limited for Company's BioEO (Speciality Chemicals) Business and approving setting up grain distilleries at Kashipur and Gorakhpur sites in 2021-22. The Company entered into grain-based ethanol by installing two grain-based distilleries of 180 kilo litres per day and 110 kilo litres per day in Kashipur and Gorakhpur, respectively in 2022-23. The BioEO (Speciality Chemicals) Business was transferred on June 30, 2021 through slump sale as a going concern in 2022. In 2022, the Company launched Zumba Black and Zumba Lemoni. Following the strategy of premiumisation in the Potable Spirits division, it further launched Amazing Vodka in the Semi-Premium Segment. It launched 'Zumba Lemoni Citrus Rum' in September, 2022. It launched a 'New Specialties Unit' at Kashipur in 2023. Embarking on the commissioning of grain-based distilleries, in FY 2023, of 180 KLPD and 110 KLPD in Kashipur and Gorakhpur, respectively, the capacities were further augmented to 400 KLPD in Kashipur in FY 2024 which further enhanced to 500 KLPD in 2024. The Company further commissioned a New Specialty Unit of chemical plant capacity of 5,000 MT in FY 2024. During the year 2024-25, grain-based distillery capacities at Kashipur Plant were augmented making the total installed capacity to 500 KLPD . Whereas, the Bio-Fuel Ethanol Plant at Kashipur scaled up the capacity of 590 KLPD, by adding 180 KLPD during FY 24- 25. The facilities for New Value-Added Chemical Products at Kashipur were further enhanced by 2,500 MT/ p.a., making the total capacity to 7,500 MT/p.a. Gorakhpur Plant also increased its capacities and the Plant's total combined capacity (grain based distillery and Bio-fuel Ethanol Plant) at 310 KLPD. In FY 2024-25, pursuant to a Composite Scheme of Arrangement as approved by Hon'ble National Company Law Tribunal, Kolkata involving Ajay Commercial Co. Pvt. Ltd., Facit Commosales Pvt. Ltd., J B Commercial Company Pvt. Ltd., J Boseck & Co. Pvt. Ltd., Lund & Blockley Pvt. Ltd., Supreet Vyapaar Pvt. Ltd., Kashipur Holdings Limited (KHL) and HWL Traders Limited, which became effective on 2nd December 2024, KHL had additionally acquired 37,79,819 equity shares representing 12.21% of the total paid-up capital of the Company from certain Promoter group companies, thereby increasing its shareholding to 50.35% from 38.14% of the total paid-up capital of the Company. As a result of this, KHL the Promoter became the Holding Company of the Company w.e.f. 2nd December, 2024. During the year 2024-25, the Board of the Company in its meeting held on 4th February, 2025 has approved the Composite Scheme of Arrangement involving amalgamation of Kashipur Holdings Limited into the Company and the demerger of Bio Pharma Undertaking into a separate Company namely 'Ennature Bio Pharma Limited; and Spirits and Biofuel Undertaking into IGL Spirits Limited and their respective shareholders subject to the requisite approvals and sanction of the jurisdictional bench of National Company Law Tribunal.