IVP Ltd Company Summary

IVP Ltd Summary

Incorporated in 1929, IVP Limited is a manufacturer of vanaspati, vegetable oils, plasticisers, spark plugs, foundry chemicals, etc. Initially known as Indian Vegetable Products, it was later taken over by the Atlanta Group in 1985, from its owner, Forbes, Forbes and Campbell. Pioneering the manufacture of vanaspati in India in the thirties, the company has diversified and added a host of products in the past several decades. In 1964, the company started the foundry chemicals division. IVP Ltd were the first company to manufacture Foundry Chemicals in India in technical collaboration with M/s Ashland Inc way back in 1965.In 1978, the company diversified into industrial ceramics and spark plugs. It produces hi-alumina ceramic products like spray-dried hi-alumina powder for spark plugs and ceramic industries, hi-alumina thread guides for use in textile machinery and hi-alumina grinding media for the production of refractories, paints, cement and pharmaceuticals. The hi-alumina thread project was undertaken in collaboration with Fedmuhle Akg, Germany. The company also manufactures plasticisers and paints. IVP entered into an agreement with Industrie Magneti Marelli, Milan, Italy, for the production of automotive spark plugs. To improve the efficiency of the steel division, the company has entered into an agreement with London and Scandinavian Metallurgical Company, UK.In 1983, IVP made a breakthrough on the export front. Its overseas markets include the US, the UK, Germany, Italy, France, Poland, Czechoslovakia, Malaysia, UAE, Saudi Arabia, etc.During 2001 the company made a buyback of shares of 1,03,26,263 equity shares of Rs.10/- each at a price not exceeding Rs.22/- per Equity Share. In 2007, the Company sold its Ceramics Division. It expanded the Tarapur and Bangalore plants in 2008. New reactors installed at Tarapur to increase capacity during year 2009. The Company sold assets of its Industrial Ceramics Division on a slump sale basis in 2011. It modernized Tarapur, Bengaluru plants and commenced a New Coating Plant at Tarapur in 2017. A new Shell Resin Plant commissioned in 2018. The Company introduced new Polyurethane product during the year 2018-19.