Adarsh Derivatives was incorporated as a public limited company in Oct.'94 by R D Jain, M L Jain and R L Jain. The company set up a plant to manufacture 6000 tpa of guar splits, 3050 tpa of guar polymers, 1000 tpa of guar derivatives and 13,900 tpa of cattle feed, at Chandisar, Gujarat. It came out with a public issue in Dec.'95 to part-finance the project. Guar polymers and derivatives are used in textile, food processing, pharmaceuticals and oil drilling sectors, besides being used by the paper and explosive industries. The company commenced commercial production of refined guar split in Jan.'96. In 1995-96, the company generated additional split manufacturing capacity by acquiring a running plant with a capacity of 3600 tpa, on licence basis. During 1996-97, Guar Gum Powder plant started its production in Dec.'96. Company's product is doing well in the international market, particularly in USA & Europe.