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Diamond Agro Industries Ltd.

BSE: 526540 Sector: Industrials
NSE: N.A. ISIN Code: INE592D01012
BSE 05:30 | 01 Jan Diamond Agro Industries Ltd
NSE 05:30 | 01 Jan Diamond Agro Industries Ltd

Diamond Agro Industries Ltd. (DIAMONDAGROIND) - Company History

Incorporated in Jan.'93 Diamond Agro Industries (DAIL) was promoted by Suraj Gupta along with his associates and the Government of Punjab. DAIL is lead by S K Sharma as Chairman.DAIL came out with a public issue in May '94 to set up a solvent extraction unit with a processing capacity of 200 tpd for oilseeds a 50-tpd vegetable oil refinery and a 62.5-tpd vanaspati plant at Nalunga in the Gurdaspur district of Punjab. The unit is located in a category-A backward area making DAIL eligible for sales tax exemption for a period of 10 years and for state investment subsidies of Rs 50 lac. The products manufactured by the company are vanaspati refined oil and de-oiled cakes. De-oiled cakes are dry packed layers prepared from oilcakes manufactured in a solvent extraction plant. They are mainly used as cattle feed and as fuel in boilers. Shriram Foods and Fertilisers makers of the premium vanaspati brand Rath has entered into a production tie-up with DAIL under which the former will pick up 1500 tonnes of vanaspati manufactured at DAIL's plant according to its quality and product specifications. These will be sold under the Rath and Palki brand names. Company has withdrawn the use of brand name Apna & Angan and introduced a new brand name Akash which is recognised in the market. It has also started marketing its product in Bihar and U.P also. The Company has entered into contract with Hindustan Lever on 11th May 1998 for producing Vanaspati under the brand name 'Dalda' and other products under their brand name.Due to the continuous accumulated losses the company had made a reference with the BIFR and was declared sick during the year 1999-2000 and the company is taking neccesary steps for its rehabilitation.The total production of Vanaspati & Refined Oil was 30470.129 MT when compared to previous year of 18558.081 MT.