Today's Top Gainer
Note:Top Gainer - Nifty 50 More
|Company Secretary||Jignesh Patel|
|Independent Director||Sunil Pitroda|
|Independent Director||Abhishek Buddhadev|
|Addtnl Independent Director||Urja Shah|
Avon Organics, promoted by P R Agarwal, Rajesh Agarwal and G S Sidhu was incorporated in August 1993 to manufacture diketene and its derivatives Monomethyl Acetoncetamide(MMA) and Methyl Acetoacetate(MAA). The companys 1200 tpa Diketene manufacturing faciltiy located at Sadashivpet in Andhrapradesh and the products of it were used in pigments, pharmaceuticals and pesticides.The company has a tripartite technical knowhow agreement with Shanghai Machinery & Equipment Import and Export Corporation (SMEC), representative of Shanghai Peng Pu Chemical Works (SPCW) and Xytel Technologies Partnership (XTP), US. XTP shall be the technical supervisor for the transfer of technology, while SMEC shall supply the technical knowhow.The company has bagged the award for the Best New Product manufactured in the State of Andhra Pradesh as awarded by the Federation of Andhra Pradesh Chamber of Commerce and Industry and also certified as an ISO 9002 company by American Quality Asseassors accredited with ANSI-RAB for the manufacturing and marketing MMAA, MMAE, DEA, EEAA and Aralydes.The company had developed technology for recovery of Diketene from sludge. The company has also diversified into Bio-Technology, where the value addition is high. To part finance its biotech project the company has made a preferential issue of 1800000 Equity shares at Rs. 38.75 each aggregating to Rs. 697.50 lacs and issued 400000 warrants convertible into 400000 equity shares during the year 1999-2000.The Bio-Technology Plant is located at Solapur,Maharashtra for manufacture of Ephedrine and Pseudo-Ephedrine with an installed capacity of 150 MT p.a. The plant has commenced operations during April 2001. The biotech division produces Pharmaceutical intermediates i.e Pseudoephedrine and ephedrine. The company has signed two longterm export contracts to supply fixed quantities of Pseudoephedrine and is in talks with a few more MNCs for long term contracts during the year 2001-02. The companys bio-tech division is pursuing USFD approval which will enable it to enter into regulated markets.The company is all set to introduce two high value added intermediates in its Diketene division.The company has already completed trial production for these two pharmaceutical products and is ready for commercial launch.The company is expected an additional turnover of Rs.12 crores from these products from the year 2005-06.