Shreyas Intermediates Ltd Company Summary

Shreyas Intermediates Limited (SIL) was incorporated as a Private Limited Company on November 6, 1989 and subsequently converted into a Public Limited Company in April, 1992. The Company was promoted by Dinesh S Sharma. The Company is engaged in manufacturing of Dyes, Pigments and Pigment Intermediates.In Dec.93, the company came out with its initial public offering, aggregating Rs 3.29 Cr, to diversify into the manufacture of Copper Phthalocyanine Blue Crude and Copper Phthalocyanine Green, with a capacity of 540 TPA and 321 TPA respectively.

The estimated cost of the project was Rs 8.60 Cr. Both the products have good export potential especially in the US and Germany.The products of SIL find application in the manufacture of plastic colours, direct colours, inks, rubber paints and in the paint industry.During the year 1999-2000, due to absolute fall in the profitability of H-Acid the production of H-Acid was suspended and the company has converted its plant to manufacture pigments. The plant for the manufacture of H-Acid had started producing CPC crude after conversion in 2001-02.Pursuant to the Order dated 12th August, 2004, of the High Court of Judicature at Bombay sanctioning the Scheme of Amalgamation of Shruti Colorants Limited with the Company, effective from 1st October, 2003, all the assets and liabilities of Shruti Colorants Limited were transferred to the Company.

The Companys new export oriented production facility (designated as an EOU) at Plot No. D-21 at Lote Parshuram, Taluka Khed in Ratnagiri Dist. of Maharashtra State was commissioned and the commercial production of the new capacities of CPC Blue and CPC Green, commenced in April, 2007.The Companys Scheme of Arrangement was approved by the Honble National Company Law Tribunal (NCLT) on 27th July, 2018 between the Company and their Shareholders and Secured Creditors.

5,47,50,000 Equity Shares of Rs. 10/- each were allotted pursuant to the Scheme of Compromise/Arrangement w.e.f. November 16, 2022.