Indo Gulf Industries Ltd Company Summary

Indo Gulf Industries Ltd Summary

Incorporated in March, 1981 as Indo Gulf Explosives, Indo Gulf Industries Limited got its present name in 1994. The Company was promoted as a Joint Venture between PICUP, UPSIDC and three other entrepreneurs, Dr S K Garg, B K Agarwal and M K Garg.The company manufactures industrial explosives and accessories, with manufacturing facilities at Jhansi, Korba, Singrauli, Talcher and Ib Valley. Its products include slurry mixed explosives, detonator fuses and cast boosters. The explosives are used in open-cast mines, mostly by coal mines. The company entered into a technical collaboration with Trans Ocean Gulf Oil, US, to manufacture explosives. In Feb.95, the company came out with an issue of fully convertible debentures to part-finance setting up a 2500-tcd sugar plant (expandable to 3500 tcd) to manufacture white crystal sugar at Meizapur Gonda district, with the co-generation of 6 MW of power.The entire quantity of molasses will be sold to various distilleries to manufacture potable and industrial alcohol. Bagasse will be used for the co-generation of power.Sugar plant commercial production started during March, 1996. The company planned to expand its operation by increasing the number of supply points for bulk loading explosives with addition of another bulk loading unit at Mahakurla village in Chanderpur district. The plants tosupply emulsion explosives manufactured in technical collaboration with Gulf Oil Corporation are being set up at Gobarghora in Korba and Jayant in Singrauli. The company would continue to supply explosives from the bulk loading units at these sites.The company is planning to set-up a new packaged Explosive Unit in Bendrachuan village on Madya Pradesh to meet the supply of catridge explosives and accessories to various mines of Coal India Ltd in that area. The Emulsion Plant at Korba was commissioned during year 1999-2000.Untill the year 2006, Company was in the process of revival of Maizapur Sugar Unit. The Maizapur Unit of the Company commenced Crushing operations for the season 2006-2007 w.e.f 7th April, 2007. Balrampur Chini Mills Ltd acquired 53.96% of Equity Shares of the Company and had become its holding Company.Honble Board tor Industrial and Financial Reconstruction (BIFR) vide its order dated 24.06.2010 had sanctioned the rehabilitation scheme of the Company including the Scheme ot Arrangement w.e.f. 1st October, 2008. Further, Honble BIFR permitted, transfer of 20% equity shares of the Company held by Balrampur Chini Mills Limited to co-promoter/strategic investor. Later on in FY FY 2016-17, Balrampur Chini Mills Limited (Holding Company/BCML) sold its entire holding in the Company consisting of 51,62,470 Equity Shares of Re.1 each (53.96%) via share purchase agreement,. BCML was transferred to GEPL. Accordingly, GEPL became the holding company of the Company. The Explosive Unit of the company located at Village Koti, Sukhwa & Prithi Pura, Babina, Distt. Jhansi commenced operations during the year 2018-19. The Company started its facilities for manufacturing of various types of Detonators during financial year 2024-25 and has achieved production of 9 Million Nos. during the year 2025.