Sunshield Chemicals Ltd Company Summary

Sunshield Chemicals Ltd Summary

Sunshield Chemicals Limited (SCL) was incorporated as a Public Limited Company on 19 November 1986. The Company was promoted by Satish M Kelkar, C M Kelkar and Sons. The Company is presently engaged in manufacture and sale of Speciality Chemicals in the domestic and international markets. It manufactures speciality chemicals which find application in industries like agrochemicals, fertilisers, paints, textiles, petroleum, etc.The company commenced its operations in Oct.87 to manufacture 900 tpa of ethylene oxide condensates (EOC). The capacity was increased to 2100 tpa in Sep.90, which was further increased to 3000 tpa in 1993 and to 4500 tpa in Sep.94 after it took over Atsuan Chemical Corporation. It acquired Dimple Chemicals and Services situated in Ambernath in Apr.93 to add 1680 tpa of sulphonates, esters and amides to its existing production capacity. In Sep.94, it acquired Kamal Chemical Industries, enhancing its total capacity by another 1200 tpa of sulphonates, sulphates, esters and amides. In 1994, both Kamal Chemical Industries and Dimple Chemicals and Services were merged with the company. Sunshield undertook a backward integration-cum-diversification to produce 3000 tpa of alkyl phenols, commercial production of which commenced in Jul.94.In May 95, the company offered 9.19 lac equity shares of Rs 10, at a premium of Rs 38, aggregating Rs 4.41 cr. The companys clientele includes Excel Industries, IOC, Hindustan Petroleum, India Glycols, Bayer India, BASF, Asian Paints, FACT, etc.During the year 1995-96, the company successfully launched two new range of products viz, an antioxidant based on Nonyl Phenol and Dodecy Phenol. The company completed implementation of consolidation of production at its main manufacturing centre at Village Rasal by shifting its undertaking in the urban area at Ambernath. The company produced new products viz, Para Tertiary Butyl Phenol(PTBP) and Para Octyl Phenol(POP) and promoted an independent company Sunshiel Organics Ltd(SOL) which is putting up the project to manufacture the above products with an installed capacity of 2000 tpa.During 1996-97, the company entered into a memorandum of agreement with Schenectady International Inc. (SII), the world leaders in the manufacture of Alkly pphenols to set up a globally acceptable manufacturing facility for wide range of Alkylated Phenols as also other chemicals.The Joint Venture between SII (USA) and the company was activated effective 11th June, 1998.The Company is taking steps to shift the thrust of business from Alkyl Phenols and Commodity Speciality Chemicals to Niche Speciality Chemicals.During the year 1999-2000, the company launched a speciality Anti Oxidant which is marketed by a global leader for its Indian customers. It has also successfully developed a trial product for speciality process used by the Indian affiliate of a large multinational group.In 2000-01, the Company started commercial sale of Speciality Antioxident to a well known MNC in India. It developed speciality surfactants at the Companys laboratory and pilot plantDuring the year 2021-22, the Agreement for the Sale and Purchase of shares in Sunshield Chemicals Limited was executed between the Company, its erstwhile Promoters and Indus Petrochem Limited. In terms of the said Agreement, Indus Petrochem Limited on 30th November 2021 acquired 45,85,196 Equity shares of Rs. 10/- each representing 62.36% Equity Shares in the Company as per the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011.