NOCIL Ltd Company Summary

NOCIL Ltd Summary

NOCIL Limited is Indias largest manufacturer and supplier of rubber chemicals. The Company is known for product, quality, customer services and commitment to environmental care. The Company is a part of Arvind Mafatlal Group of Industries, a well-known Business House in India with diversified business interests. It has manufacturing plants at Navi Mumbai (Maharashtra) and at Dahej (Gujarat). The Company is engaged in manufacturing and sale of rubber chemicals. The products manufactured by the Company are used by the tyre industry and other rubber processing industries. They have manufacturing facilities in TTC Industrial Area, Thane and ancillary manufacturing facilities in the GIDC Industrial Area, Vapi. They offer a range of rubber chemicals, such as PILFLex, which is a rubber anti-degradant, PILnox, which is a rubber antioxidant, PILcure, which is a rubber accelerator, and PILGarD, which is a rubber pre-vulcanization inhibitor. Their subsidiaries include Ensen Holdings Ltd, Urvija Investments Ltd and PIL Chemicals Pvt. Ltd.NOCIL Ltd was incorporated on May 11th, 1961 as National Organic Chemical Industries Ltd. In the year 1968, the Company commenced production of petrochemicals at NOCIL in technical collaboration with the Royal Dutch Shell Group. Polyolefins Industries Ltd was incorporated in the year 1964, which produced polymers in technical collaboration with Farbwerke Hoechst AG, West Germany. In the year 1981, MINDIA Chemicals Ltd, which produced rubber chemicals merged with Polyolefins Industries Ltd. In 1993, Polyolefins Industries Ltd merged with company for synergy of operations. Also, the company became an Indian company under Arvind Mafatlal Group upon withdrawal of Shell from the company and Hoechst from Polyolefins Industries Ltd. Rubber Chemicals Business operates as NOCIL-RCDIn the year 1995, NOCIL-RCD consolidated their position as an important supplier of rubber chemicals in the global market. In the year 2002, the company decided to close down their Petrochemicals Division due to uneconomical and unviable operations on account of their sub-optimal capacity. During the year 2005-06, as per the scheme of arrangement, the net current assets of the Plastic Products Division have been transferred to RELPOL Plastics Products Ltd (formerly known as NOCIL Petrochemicals Ltd, a business associate of Reliance Industries Ltd) with effect from July 20, 2005.During year 2006-07, Company acquired the entire shareholding of PIL Chemicals Pvt Ltd (formerly known as Sushripada Plastics Pvt Ltd) for Rs 19.50 crore. Thus, PIL Chemicals Pvt Ltd became a wholly owned subsidiary of the company. Also, Company acquired 60 acre plot of land at Dahej near Bharuch in designated chemical zone of Gujarat Industrial Development Corporation.During the year 2007-08, name of the Company changed from National Organic Chemical Industries Ltd to NOCIL Ltd effective from September 14, 2007. During 2011, the company has got assignment of Registered Trademark MONOCIL. In 2013, the company commenced production at its new Greenfield Plant at Dahej.Pursuant to the order of the Honble Bombay High Court regarding the merger of Ensen Holdings Limited and Urvija Investments Limited, the erstwhile subsidiaries of the Company (the merged entities) with another subsidiary company, viz. PIL Chemicals Private Limited (PIL), the Statutory Reserve created under Section 45 IC of Reserve Bank Of India (Amendment) Act, 1997 by the respective merged entities were taken over by PIL.During the year 2017, the company had approved a capital expenditure (capex) of Rs. 170 crore in March 2017. In terms of the said plan, capex which was to be incurred at Navi Mumbai, got commissioned by the end of June 2018 and Dahej expansion plans got commissioned by end of January 2019.During the FY 2020-21, two promoter entities, Suremi Trading Private Ltd and Sushriprada Investments Private Ltd (the Transferor Companies) got merged with NOCIL Ltd. (the Transferee Company / Holding Company) through the Scheme of Amalgamation effective from March 19, 2021. In terms of the said scheme 3,11,17,689 equity shares of Rs 10/- each were allotted to the shareholders of the said Transferor Companies on March 30, 2021.