Rishiroop Rubber International Ltd Company Summary

Rishiroop Rubber International Ltd Summary

RRIL was incorporated in Nov.90. The promoters were Mahendra Kapoor, Arvind Kapoor and Rishiroop Polymers. At present, M K Kapoor is the Chairman of the company.RRIL made its initial public issue in Sep.92 of 33.2 lac equity shares, aggregating Rs 3.32 cr. The issue was made to part-finance the setting up of a plant for the manufacture of 4500 tpa of chlorinated rubber at Ankleshwar, Gujarat. The project has been set up as an 100% EOU with an estimated cost of Rs 15.75 cr.Chlorinated rubber is a thermo plastic resin which is soluble in most of the aromatic solvents and has the ability to form excellent film on any metallic or non-metallic surfaces. The major applications of this product are in the manufacture of paints for road making, anti-corrosive industrial and marine paints, pipeline coatings, printing inks, etc.RRIL has embarked upon a modernisation-cum-expansion program and set up a debottlenecking plant, involving a total cost of Rs 750 cr. This programme envisages installation of additional equipment, for which the necessary term loans have been secured from financial institutions. The company has commenced trial production of new products -POLYCHLON in June 98.During 1999-2000, the first phase of modernisation programme for production of CTC free Chlorinated Rubber for converting part of the existing facility has been completed and trial runs have commenced.The modernisation programme which was flagged off in the previous year has commenced in the fag end of this year,but due to teething problems the production has been delayed.