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Sudarshan Chemical Industries Ltd.

BSE: 506655 Sector: Industrials
NSE: SUDARSCHEM ISIN Code: INE659A01023
BSE 00:00 | 14 Jul 401.75 -3.40
(-0.84%)
OPEN

406.00

HIGH

412.20

LOW

400.00

NSE 00:00 | 14 Jul 402.95 -2.20
(-0.54%)
OPEN

405.00

HIGH

412.00

LOW

399.90

OPEN 406.00
PREVIOUS CLOSE 405.15
VOLUME 16141
52-Week high 505.95
52-Week low 286.25
P/E 20.56
Mkt Cap.(Rs cr) 2,782
Buy Price 400.10
Buy Qty 50.00
Sell Price 408.00
Sell Qty 30.00
OPEN 406.00
CLOSE 405.15
VOLUME 16141
52-Week high 505.95
52-Week low 286.25
P/E 20.56
Mkt Cap.(Rs cr) 2,782
Buy Price 400.10
Buy Qty 50.00
Sell Price 408.00
Sell Qty 30.00

Sudarshan Chemical Industries Ltd. (SUDARSCHEM) - Company History

Sudarshan Chemical Industries is a globally renowned player in the Pigment Industry and manufactures a wide range of Organic and Inorganic Pigments Effect Pigments Agro Chemicals and other products with facilities at Roha and Mahad Dist. Raigad Maharashtra. As the largest producer of pigments in India the Company manufactures an extensive range of Organic Inorganic and Effect Pigments and dispersions catering to the Coatings Plastics Inks and Cosmetics Industries worldwide. The product offerings include recognized brands such as Sudaperm Sudafast Sudacolor Sumica and Sumicos. Company's development focus is on high performance pigments mainly for automotive coatings and engineering plastics that are produced in state of the art manufacturing facilities at Roha and Mahad.Pune-based Sudarshan Chemical Industries was formed in February 19th 1951. Sudarshan offered shares to the public at par in Dec.'76. Until the seventies the company manufactured organic / inorganic pigments and intermediates. But in 1980 it diversified into pesticides.In Jan.'91 it commenced manufacture of a new range of organic pigments such as pthalocyanine with technology from Dainippon Ink & Chemicals Japan. The Japanese collaborator apart from providing technology also holds a 29.03% stake in the company. The company entered the area of environmental engineering in collaboration with Radian Corporation US. It went public with a rights offer at a premium of Rs 100 to set up a plant to manufacture 1125 tpa of organic pigments at Mahad.Company announced bonus shares (1:2). During 1994-95 exports amounted to Rs 45.8 cr. Company has received ISO 9001 certification in respect of its Pigment division. During 2000-01 the company received the prestigeous ISO 9001 re-certification in respect of its Pigment Division by Bureau Veritas Quality International (BVQI). During 2000-01 Mahad factory has been awarded the coveted ISO 14000 certification by Bureau Veritas Quality International (BVQI) which reconfirms the emphasis given by the company to safety and environment aspects and strict adherence to safety and environment standards.The Board of Directors of the company in its meeting held on 9 August 2014 recommended sub-division of equity shares of the company from Rs. 10 each to Rs. 2 each along with issue of Bonus Shares in the ratio of 1:1. During the year 2017 the Company has incorporated through its direct subsidiary in The Netherlands viz. Sudarshan Europe B.V. a step-down subsidiary (SDS) in Mexico by the name Sudarshan Mexico on 25 January 2017 for marketing and selling pigments manufactured by Sudarshan India. Further the SDS will also be in a position to keep stocks of finished products and do invoicing. This will also enable the Company to service key customers in regions around U.S.A.In 2017 the Company has also set up a Marketing / Sales Office in Shanghai China to locally source raw materials and among others to cater to the requirements of Asia Pacific customers.On 1 June 2018 the Company has entered into a Share Purchase Agreement with Americhem Inc. USA to sell the entire shareholding in its Wholly Owned Subsidiary Prescient Color Limited for an Enterprise Value of Rs. 11700 Lakhs. The Equity Value for sale of shares on Closing Date is Rs. 10228 Lakhs.The Board of Directors in its meeting held on 27 June 2018 have in-principle approved the transfer of Agro Formulation Brand Business for a fixed consideration of Rs. 700 Lakhs and a variable component in terms of royalty payable on sales. The modalities for this transaction are being worked out.The Board of Directors at its meeting held on 12th April 2019 approved a proposal to enter into a definitive agreement with GMM Pfaudler Limited (GMMP) to divest the Industrial Mixing Solutions Division (IMSD) of the Company. The consideration for the said transaction was approx. Rs 29 Crore which was subject to adjustment on account of trade working capital difference and related items. On 26th April 2019 the Company completed the divestment subject to closing adjustments of its IMSD to GMMP on a going concern basis in terms of the definitive agreements executed between the parties.