NGL Fine Chem Ltd

NGL Fine Chem Ltd

NGL Fine-Chem Limited was incorporated on December 18 1981 as a Private Limited Company in the State of Maharashtra. The Company became a Public Limited Company. The Company has got its registered office and factory at New Bombay. It was promoted by Mr. A.G.Lawande Mr.R. J. Nachane joined Mr.A.G.Lawande for actively participating in the Management of the Company in 1989. The Company is a manufacturer of pharmaceuticals and intermediates for usage in veterinary and human health. It is presently engaged in chemical substances used in manufacture of pharmaceuticals and Allopathic medicines.The Company had at its commencement set up manufacturing facilities for the manufacture of Chloroquire Phosphate (antimalarial) which has a very good market at that time. But in absence of rain-fall in severe drought conditions during 1985-86 there was a very low incidence of malaria and the demand for the drug came down drastically. This forced a price war in the industry which led to the company being hit badly ultimately leading to losses.During 1996-97 Company has faced illegal labor strike from October 1996. The Company is continuing operations by importing material and having it converted/processed from other units. The workers have been able to obtain an injunction from the labour court against the company which prevents the company from clearing any stocks from the factory. The Company carried out refurbishment of the plant and commenced its manufacturing activities in 2000-01. In 2004-05 the Scheme of Amalgamation of Alpha Organics Private Limited and Konarak Textile Industries Private Limited with the Company became effective on 4th March 2005. Accordingly the entire undertakings of Alpha Organics Private Limited and Konarak Textile Industries Private Limited was transferred to the Company with effect from 1st April 2004. Consequently the Company allotted 3178024 Equity Shares of Rs. 5 each fullypaid up to the shareholders of both the Transferor Companies. Further under the same scheme the existing capital of the Companywas reorganized. The Paid Up value of each share was reduced from Rs. 10 per share to Rs. 5 per share.The Company's new manufacturing plant at Tarapur was commissioned during the year 2006. It acquired Macrotech Polychem Private Limited (Wholly owned Subsidiary) on 15th May 2019. During 2021-22 the Company commenced construction at new plant in Tarapur. Similarly it commissioned the expansion at its subsidiary Macrotech Polychem Private Limited in December 2021.