Rinku Polychem (RPL) was incorporated on 11 Jul.'90 as a private limited company to manufacture textile auxiliaries. It was converted into a public limited company on 22 Apr.'92. It was promoted by Jaysukh Shah, Mahesh Shah and others. Jaysukh Shah is the chairman and managing director.
In Jan.'94, the company came out with a public issue of 60 lac equity shares at par aggregating Rs 6 cr to part-finance its Rs 10.85-cr project to manufacture dyes, dye-intermediates and speciality chemicals at MIDC, Osmanabad, Maharashtra.
This project has backward and forward linkages with other chemical industries. The backward linkages are with industries like petrochemicals, organic and inorganic chemicals, the forward linkages is with industries like textiles, plastics, paints, varnishes, pharmaceuticals and fine chemicals.
RPL has entered into an MoU for marketing with Universal Man, Hong Kong for promotion of its products in the overseas market.
To manufacture speciality chemicals, RPL has entered into a technical collaboration with Yusa Technica Company, Japan. About 60% of its production is exported. Bahubali Chemicals Pvt Ltd is a group company of RPL.
Foreign Exchange Earnings during 1996 were Nil.