Jaysynth Dyestuff India Ltd Company Summary

Jaysynth Dyestuff India Ltd Summary

Incorporated in 1985, Jaysynth Dyestuff (I) Ltd (JDIL) is engaged in the manufacture of reactive dyes, pigment and ink. The company has 3 units, at Vapi, Gujarat; Turbhe and Patalganga, Maharashtra. While the reactive and disperse dyes are high growth products, pigments also enjoy a good market both in India and abroad.The company implemented a forward integration programme to manufacture pigments (alpha blue and beta blue) at a cost of Rs 9.25 cr in 1995. Production capacity for pigments is 670 tpa. In 1994, the company had implemented a balancing-cum-expansion scheme at a cost of Rs 25 cr at its plants at Turbhe and Patalganga to increase its dyestuff manufacturing capacity from 4680 tpa to 6000 tpa. The costs of these projects were met by term loans and internal accruals. The companys products are well accepted in the domestic as well as in the international market. The Company has been referred to BIFR as the accumulated losses have erorded the networth and the Board has declared the company as Sick. Subsequently the board has appointed ICICI as operating agency for Rehabilitation of the company.The Company got in the business of Digital Printing Ink in 2005. The Companys Business Undertaking at Vapi, in Gujarat was sold to M/s. Phthalo Colours and Chemicals (India) Limited for a consideration of Rs 22.32 Cr., on March 20, 2006. During FY 2015-16, the Company had acquired the 675,000 Equity Shares having face value of 1 at par from existing shareholders of Jaysynth (Europe) Limited, with such an acquisition it became a wholly owned subsidiary of the Company.In 2023, the Composite Scheme of Arrangement amongst 3 companies, Jaysynth Impex Private Limited, JD Orgochem Limited and the Company was implemented from 01st April, 2023.