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Navcom Industries Ltd.

BSE: 519200 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Navcom Industries Ltd
NSE 05:30 | 01 Jan Navcom Industries Ltd

Navcom Industries Ltd. (NAVCOMINDS) - Company History

Incorporated on Sep.'91, Navcom Industries Ltd., formerly known as Navcom Oil Products was promoted by Shantilal Lunkad, Pravin Lunkad and Ashok Lunkad. The Lunkad family has several private limited companies and firms clubed under the Nav Maharashtra group, with diversified interests in edible oil, agricultural commodities, vanaspati ghee, bio-technology, food processing, solvent extractions, and other hi-tech equipment for solvent extractions and feed units. It is one of the leading edible oil producers in Maharashtra and the sixth largest in the country in the manufacture of compound animal feeds. The company is also one of the leading exporter of soya meal and sunflower seed extractions in the country. NOPL received recognition from Government of India in Jun.'94 as an Export House. It also won the highest and top export performance award from Soybean Processors Association of India (SOPA) for three consecutive yearsfrom 1989 to 1991, another one from Solvent Extractors Association of India (SEA)in 1993 and from All India Cotton Seed Crushers Association, Mumbai, in 1992. The company has doubled the vanaspati unit capacity from 7,500 tpa to 15,000 tpa at Sangli, Maharashtra and commissioned a oil packaging unit in Sep.'94. NOPL came out with a public issue at a premium in Apr.'95 to the tune of Rs 1169.18 lac to part-finance its multi-faceted expansion and diversification programme that includes doubling its manufacturing capacityfor vanaspati ghee, increasing the capacity for decortication of sunflower seeds, and cattle feed units. It also set up a 1.5-MW captive power plant, and entered the highly remunerative field of bio-technology. NOPL exports its products to south-east and middle-east Asian countries. During the year 1997-98, the company has undertaken expansion of refinery at its factory at Solapur from 50 TPD to 100 TPD. The commercial production has started during the month of February, 1999.