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Gujarat Fluorochemicals Ltd.

BSE: 542812 Sector: Industrials
NSE: FLUOROCHEM ISIN Code: INE09N301011
BSE 00:00 | 07 Dec 2460.30 30.00
(1.23%)
OPEN

2435.05

HIGH

2529.00

LOW

2394.45

NSE 00:00 | 07 Dec 2463.35 31.95
(1.31%)
OPEN

2460.00

HIGH

2539.00

LOW

2392.00

OPEN 2435.05
PREVIOUS CLOSE 2430.30
VOLUME 6544
52-Week high 2547.20
52-Week low 525.00
P/E
Mkt Cap.(Rs cr) 27,039
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2435.05
CLOSE 2430.30
VOLUME 6544
52-Week high 2547.20
52-Week low 525.00
P/E
Mkt Cap.(Rs cr) 27,039
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Gujarat Fluorochemicals Ltd. (FLUOROCHEM) - Company History

Gujarat Fluorochemicals Limited (the Company) earlier known as Inox Fluorochemicals Limited is a public limited company incorporated and domiciled in India. The Company was incorporated on 6th December 2018 as a whollyowned subsidiary of GFL Limited (earlier known as Gujarat Fluorochemicals Limited) for the purpose of vesting of the demerged Chemical Business undertaking of GFL Limited into the Company as a going concern. As per the Scheme of Arrangement (the Scheme) between Gujarat Fluorochemicals Limited now known as GFL Limited (the demerged company) and Inox Fluorochemicals Limited now known as Gujarat Fluorochemicals Limited (the Company or the resulting company) and their respective shareholders under Sections 230 to 232 of the Companies Act 2013 and all other applicable provisions of the Companies Act 2013 the Chemical Business Undertaking of the demerged company was demerged into the Company. The Scheme was approved by Hon'ble National Company Law Tribunal Ahmedabad Bench on 4th July 2019. The said NCLT Order was filed by both the companies with the Registrar of Companies on 16th July 2019 making the Scheme operative from that date. Accordingly all the assets and liabilities pertaining to the Chemical Business Undertaking as defined in the Scheme including employees and investment in subsidiaries and joint venture pertaining to the said Chemical Business stand transferred and vested into the Company from its Appointed Date i.e. 1st April 2019. All the shareholders of demerged company are allotted one fully paid-up equity share of Re 1 each in the Company for every one fully paid-up equity share of Re 1 each held by them in the demerged company. Simultaneously the shares held by the demerged company in the resulting company were cancelled and the Company has ceased to be a subsidiary of the demerged company. During the financial year 2019-20 the Company has issued 109850000 fully paid-up equity share of Re 1 each pursuant to the Scheme of demerger to the shareholders of the demerged company.The name of the Company was changed from lnox Fluorochemicals Limited to Gujarat Fluorochemicals Limited w.e.f. 26th July 2019 and the equity shares of the Company are listed on BSE and NSE on 16th October 2019.The Company is engaged in manufacturing and trading of refrigerant gases caustic soda chloromethane polytetrafluoroethylene (PTFE) fluoropolymers fluoromonomers specialty fluorointermediates specialty chemicals and allied activities. The Company caters to both domestic and international markets.The Company's parent company is Inox Leasing and Finance Limited. The Company has 2 manufacturing plants and are situated in Ranjitnagar and Dahej(Gujarat) with modern & backward-integrated PTFE manufacturing facilities. Manufacturing processes are controlled by modern DCS systems and technologically advanced hardware to consistently deliver quality products. Both the units in Gujarat are ISO certified. During the FY2020the company spent Rs 3148 crore on CAPEX investment in manufacturing facilities.In view of the COVID-19 pandemic and consequential declaration of lockdown by the Government of India the manufacturing facilities of the Company at Ranjitnagar and Dahej Gujarat were closed from 25th March 2020. However the Company was permitted to restart its manufacturing facilities from 8th April 2020 being `essential commodity chemical supplier' to the pharma and agrochemical industries. The manufacturing activities of the Company were closed down only for a few days and with the subsequent easing of the lockdown guidelines now the operations of the Company are significantly stabilized. As on 31March 2020the company has 4 overseas subsidiaries namely Gujarat Fluorochemicals Americas LLC Gujarat Fluorochemicals GmbH Gujarat Fluorochemicals Singapore Pte. Limited GFL GM Fluorspar SA and one joint venture company namely Swarnim Gujarat Fluorspar Private Limited.

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