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Kothari Petrochemicals Ltd.

BSE: 532096 Sector: Industrials
NSE: KOTHARIPET ISIN Code: INE720A01015
BSE 05:30 | 01 Jan Kothari Petrochemicals Ltd
NSE 10:24 | 29 May 20.40 0.35
(1.75%)
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Kothari Petrochemicals Ltd. (KOTHARIPET) - Company History

Kothari Petrochemicals Limited (KPL) is the manufacturer of Poly Iso Butylene (PIB) with the capacity of 24000 tones per annum. This accounts for 90% of the total production in the country. The Company was incorporated in April 28 1989. During the period 2016-17 the Company acquired the entire share capital of KPL HK held by KPL SG and thereby KPL HK has become the wholly owned subsidiary of the Company. Both subsidiary companies have filed application for striking off / de-registration in their respective host countries and the companies are under the process of winding up. Investments made in both the subsidiaries were repatriated to India during the period under review. The Company informed the Stock Exchange on winding up / de-registration application filed the subsidiary by companies.To augment supply of raw material from the local source the Company commissioned Lean Poly Iso Butylene Feed Stock (LBPFS) plant in September 2016 and meet additional requirement of steam and power for this plant as well as the existing PIB plant a 2 MW captive power plant was commissioned in December 2017 with all necessary statutory clearances to meet 100% requirement of quality power and steam at a controlled cost.In 2018 the company achieved a production of 16242 MT which translates to a capacity utilisation of 94% (basis of Kvis 10 operation) in terms of 950 MW PIB. However production got affected during November 2017 when the newly erected Captive power plant was commissioned and synchronised with PIB plant. Again in February 2018 production was disturbed for 16 days due to stoppage of plant for maintenance. Apart from these the feed quality from refinery got deteriorated in terms of more C3 ingression besides reduction of volumes of supply of raw material by local supplier. Newly designed product filters were installed in all the loading bays/drum our company continues to maintain the quality of the product in line with International Standards.Subsequent to the winding up / de-registration application filed by the erstwhile subsidiaries viz.M/s. Kothari Petrochemicals Pte. Ltd. Singapore (KPL SG) and M/s. Kothari Petrochemicals HK Ltd. Hong Kong (KPL HK) in their respective host countries; both the companies were dissolved on 7th August 2017 and 1st December 2017 respectively.An Effluent water recycle plant was commissioned during the period 2019 under review at a cost of Rs. 400 lacs to comply the PCB's stringent effluent disposal norms as well as reduce the dependency of water supply from Metro Water Board which is a costlier resource. The solar plant continues to generate power which is consumed by the main plant along with Captive power plants generation.