India Glycols Ltd

BSE: 500201 | NSE: INDIAGLYCO | ISIN: INE560A01015 
Market Cap: [Rs.Cr.] 402.94 | Face Value: [Rs.] 10
Industry: Chemicals

Company Profile

India Glycols Limited is one of the leading manufactures of Glycols, Ethoxylates & PEGs, Performance Chemicals, Glycol Ether & Acetates, Guar Gum and Potable Alcohol. India Glycols Ltd 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. The company is the Leading manufacturers of Glycols, Ethoxylates, Performance Chemicals, Glycol Ethers & Acetates, Guar Gum and Potable Alcohol. The company has more than 1,000 customers in various such as Textile, Agrochemical, Oil & Gas, Personal Care, Pharmaceuticals, Brake Fluids, Detergent, Emulsion Polymerisation & paints etc. India Glycols (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, controlled by Delhi based Bhartia family was incorporated as UP Glycols, a public limited company and subsequently the name was changed to India Glycols with effect from Sept.'86. The company has its plant located at Kashipur in Uttranchal. The company has one Subsidiary namely IGL Finance Ltd. The companies another subsidiary CDL International ltd is to be amalgamated with the company as per Court orders. The company had technical tie-up with Scientific Design Company, US, for the know-how to convert ethanol into MEG. Further it tied up with Sanyo Chemical Industries Ltd. of Japan during 1995-96 to secure world class technology in the field of Industrial Surfactants covering major industries like Textiles, Toiletries etc. 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. The company has also successfully 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 have approved the scheme of amalgamation of M/s. CDS International Limited (100% subsidiary of India Glycols Limited) with India Glycols Limited. 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.

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Key Information

Key Executives:

U S Bhartia , Chairman & Managing Director

Jayshree Bhartia , Director

Jagmohan N Kejriwal , Director

PRADIP KUMAR KHAITAN , Director


Company Head Office / Quarters:

A-1 Industrial Area,
Bazpur Road Kashipur,
Udham Singh Nagar,
Uttaranchal-244713
Phone : Uttaranchal-91-05947-262317-20 / Uttaranchal-
Fax : Uttaranchal-91-05947-262315 / Uttaranchal-
E-mail : isharma@indiaglycols.net/ iglho@vsnl.com
Web : http://www.indiaglycols.com

Registrars:

MCS Ltd
F-65 1st Floor,Okhla Industrial Are,Phase-I,New Delhi-110020

 
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