Vippy Industries Ltd Company Summary

Vippy Industries Ltd Summary

Vippy Industries Ltd (VIL) earlier known as Vippy Solvex Products Ltd was incorporated in Sep.93 as a private limited company with the prime object to install a solvent extraction plant and oil refinery. The solvent extraction plant was installed in 1974 with a capacity of 18,000 tpa. VIL was converted into a public limited company in Feb.86. It made its maiden public issue in 1986.Vippy Industries has undertaken a major expansion comprising setting up a giant 100% EOU solvent extraction plant with a capacity to crush 1000 tpd of soyabean, a 100-tpd refinery, and the expansion of its soya flour capacity. Both these projects were commenced operations during 1995-96. The project was part-financed by a public issue in Oct.94.The company used solar water heating systems through out the year. It has received the SOPA (Soyabean Processors Association of India) award for the manufacture of the maximum number of value-added products in 1993-94.VIL has implemented Flash Desolventizing System to manufacture De-Oiled Soya Flakes for human consumption in their existing unit. It obtained quality management systems certificate ISO-9002 from S.G.S Yarsley International Certification Services Ltd, UK during 1998.The accumulated losses for the company as on December 31, 2001, resulted in full erosion of the net worth and hence the company has become a sick industrial company with the meaning of SICA, 1985.During the year 2004,the name of the company has been changed from Vippy Solvex Products Ltd to Vippy Industries Ltd.