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About 17 years back company started producing vinyl sulphone in a small way and with the passage of time due to foresight of the main person instrumental, Today Bodal is producing about 12 major dye intermediates with a monthly capacity of 1500 mt.
For the production of dyes the company has their own major dye-intermediates means quality will be consistent of dye_stuffs. Bodal is a fast growing company in the field of manufacturing dye intermediates & dye stuffs and is managed by professionals under young enterprising and dynamic directors.
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Press Release - (19 / 06 / 07) |
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BODAL – GROWTH PREVAILS : |
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[Bodal Chemicals Ltd. is a fast growing company with turnover of Rs. 146.81 crores and Net Profit of Rs.2.43 for 2005-06 (audited figures), turnover of Rs. 180.69 and net Profit of Rs 5.47 (for nine months ended 31.12.2006 - audited figures) with expected growth of 74% in turnover and 230% in net profits approximately when the figures are audited for the year ended 31-3-07.] |
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NEW AT BODAL : |
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| A |
Amalgamation of Milestone Organics Ltd, Padra, Baroda : |
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The Board of Directors in its meeting held on 16-6-07 has approved the scheme of Amalgamation of M/s. Milestone Organic Ltd. (MOL) with the Company subject to necessary approval from shareholders, Hon’ble High Court of Gujarat and other relevant authorities. The salient features are as under: |
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| 1 |
The appointed date is January 01, 2007. |
| 2 |
The Company will allot/issue 1 (one) Equity share of Rs 10/- each credited as fully paid-up for every 75 (seventy five) equity share of Rs 10/- each fully paid-up held by the members of MOL. The shares to be issued shall be pari passu in all respects including for dividend with the existing equity shares of the company. |
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Bodal will have benefit of carried forward losses of MOL which will have sizeable tax saving benefits for the company. Further fuller and better utilization of production capacities of MOL plant which hitherto was barely running will add sizeable turnover and profits to the amalgamated entity. These are several other synergies in operations will add up to increase shareholders investment value in the company. |
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| B |
Bodal’s Right Issue – Offer Document filed with Sebi : |
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Bodal also have filed a Draft letter of Offer for right issue with warrants which can be exchanged against shares, aggregating to Rs. 20.80 crores. The equity share will be issued under right issue and against warrant at Rs. 10/- premium for a face value of Rs. 10/- per equity share. The Draft Letter of Offer can be seen on SEBI website for further details. |
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| C |
New Project Commissioned at Padra, near Baroda : |
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Bodal has successfully commissioned its Rs. 36.00 crores project covering 3,000 mtpa plant to manufacture H Acid ahead of its schedule, on 15.6.2007. Another plant to manufacture 6000 mtpa Vinyl Sulphone is expected to start by first week of July ’07. These plants were originally expected to be complete by October 2007. The full year production is expected to add Rs. 150 crores in turnover of the company and net profitability of the entire operations of the company is expected to improve to the range of 5.5% to 6% from current 4.5%. |
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| D |
Further projects on drawing Board of Bodal : |
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Bodal is contemplating a further project at Padra, Baroda itself for a 1000 mt per month Dyes manufacturing Unit at a very preliminary investment of Rs. 25 crores and intends to complete the project, once finalized, during April-June 2008. This with existing Dyes manufacturing capacities of the company of 500 mt per month, will make the Bodal, the largest Dyes Manufacturing Capacity holding Company in India. |
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Thanking You, |
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For and on behalf of the Board |
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BODAL CHEMICALS LTD. |
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CHIRAG G. SHAH |
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Company Secretary, |
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| Date : |
19-6-07 |
| Place : |
Ahmedabad |
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Press Release - (05 / 05 / 07) |
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Sub : Right Issue of Bodal Chemicals Ltd. |
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We would like to inform that the company has field Letter of offer for Right Issue to Securities and Exchange Board of India (SEBI) on 3-5-07. |
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The salient features of the Right Issue are as follow. |
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| Issue Size |
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Rs.20.81 Crores (Including conversion of warrant) |
| Entitlement Ratio |
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1 Equity Share and 1 Detachable Warrant for every 2 equity shares held on Record date ( to be declared latter on) |
| No.of Equity Shares and Price |
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52,01,352 Equity Shares of Rs. 20/- each (Including Premium of Rs. 10/-) |
| No.of Warrants and Price |
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52,01,352 Detachable Warrants of Rs. 20/- each (Including Premium of Rs. 10/-) |
| Warrant Conversion Ratio |
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One warrant converted into one Equity Share. |
| Warrant Conversion Period |
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During july, 2008. |
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For Bodal Chemicals Ltd.
Ramesh P. Patel
Director
Date : 05 / 05 / 07
Place : Ahmedabad |
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