Metrochem Industries Ltd merged Share Price

Summary

Metrochem Industries (MIL) was incorporated as Rahul Dyechem Industries Pvt Ltd to manufacture dyestuff (cap. : 25 tpa). In 1993, it went public, under Section 3(1)(iv) of the Companies Act, 1956, and got its present name. The capacity stood at 800 tpa of dyes and dye-intermediates.Consequent on the scheme of amalgamation becoming effective on 30th Mar.93, the businesses of Metro Dyechem (India), Vyara Chemicals Pvt Ltd and Ortem Chemicals Pvt Ltd were merged with the operations of Rahul Dyechem Industries. The amalgamation was to consolidate the operations of all the companies, their scale of operations and further provide benefits by way of savings in sales tax liabilities for internal transfers. The forward integration was for products manufactured by the amalgamated companies.Metrochem Industries is the flagship of the Ahmedabad-based Metrochem group and is a leading manufacturer of reactive dyes (cap. : 7100 tpa of dyes and dye-intermediates). In Sep.94, it came out with a public issue (premium : Rs 100) to part-finance the expansion of capacity from 7100 tpa to 11,486 tpa. The project will go on stream in Jul.96. It is also setting up plants for dyestuffs, H-Acid and other naphthalene-based intermediates. Metrochem, one of the biggest manufacturers of reactive dyes, exports about 66% its turnover. During the year 1996 MIL earned foreign exchange worth Rs.4617.91 lacs.Company has sucessfully completed the new project for the manufacture of dyes & dye intermediates with t
Read More