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Motorol Speciality Oils Ltd.

BSE: 506954 Sector: Industrials
NSE: N.A. ISIN Code: INE642B01019
BSE 05:30 | 01 Jan Motorol Speciality Oils Ltd
NSE 05:30 | 01 Jan Motorol Speciality Oils Ltd

Motorol Speciality Oils Ltd. (MOTOROLSPECOIL) - Company History

Incorported in 1980 as a Private Ltd. company, Rinki Hydrocarbons was converted into a Public Ltd. company in 1985 and later in 1999 changed its name to Motorol Speciality Oils. The company is promoted by S K Gandhi and C K Gandhi (qualified Oil Technologists). The company is engaged in the re-refining of used oil, storage and processing of chemical liquids for service charges. It has also diversified into liquid storage and contract packaging. It is engaged in the processing of special oil for prestigious cleints line Orkay, DCL Polyester, JK Synthetics etc. besides providing storage facilities for NOCIL, Sandoz & M J Pharma. In Dec.'85, the company came with a issue of 6,00,000 equity shares of Rs 10/- each for implementing the project to re-refine used/waste oils. Thereafter in Aug.'87 it came out with a rights issue in the ratio of 1:2. Later in Aug.92 if offered a rights issue in the ratio of 1:1 to augment resources for the long term working capital requirements, to meet the normal capital expenditure for distillation of oil, to enhance the capacity of existing storage facilities. Later in the year 1998, warrants option were excercised to a enhance the equity base to 29.24 cr. In Sep.'2000 it picked up about 15% stake in Harbor Networks Systems (HNS)for Rs 6.6 cr in efforts to diversify into information technology sector and has entered into partnership with HNS. In Jan.'2001 it has finalised plans to set up 100% EOU with the capacity of 15000 KL p.a.