Magna Colours Ltd Company Summary

Magna Colours Ltd Summary

Promoted by the Toshniwal Group of Companies in Nov.89 as a public limited company, Toshniwal Chemical and Inudstries (formerly Toshniwal Industries), is engaged in the manufacture of dyes and dye intermediates. The company set up its project to manufacture dyes and dye intermediates at Tarapur (Thane district). The project implementation was undertaken in two phases. Commercial production of phase-I commenced in 1992-93. It came out with a public issue in 1992, to part-finance its project.In 1994-95, the company proposed to undertake an expansion-cum-backward integration programme to expand the capacity and also manufacture CPC blue. In 1995-96, the company entered into a strategic alliance with Biddle Sawyer Corporation, US, for marketing its products in the US, Canada and other Latin American countries.During 1996-97, pigment green 7 is now yeilding a better results. Therefore company is expanding its pigments facility in the current year and it is expected to be completed by Mar.98.During the year 1998-99, the Company received approval for its Term Loan to enhance capacity of its pigment plant from 300MT to 600 MT.Due to the restructuring plan undertaken by the company, the expansion of capacity of CPC Green has been postponed. In the year 1999-2000, the company has achieved a turnover of Rs.1547 lacs and a profit of Rs.5.16 lacs.