1944 - The Comp. was incorporated on 11th September, at Calcutta. The
Comp. manufactures structural & permanent way materials,
railway points & crossing, steel sleeper sets & turnouts,
railway bridge girders, all kinds of structural works, chemical
plant equipments such as heat exchangers, pressure vessels,
reactors, deep freeze units, columns dryers, filters, etc. all
types of press work & precision jobs, C i Castings, light &
heavy industrial fans, high tensile wires etc., & calcined
petroleum coke & other allied products.
1948 - All shares issued for cash. Arrears not know.
1979 - Cyanides & Chemicals division was set up. The project was
based on natural gas available at village Olpad in Surat district
of Gujarat State for manufacture of hydrocyanic acid, sodium
& potassium cyanides & complex cyanides.
- A technical collaboration agreement was entered into with
Vychodoceske Chemicke Zavody Synthesia N.P., Czechoslovakia.
Tata Economic Consultancy Services were retained for preparing
the market survey report & Humphreys & Glasgow consultants
Pvt. Ltd., were awarded the turnkey contract.
1986 - A letter of intent was received for manufacture of 6,000
tonnes per annum of high tension insulators in Madhya Pradesh in
technical collaboration with Rehinisch-Westfalische
Isolation-Werke GmbH, West Germany.
- Hindustan Kokoku Wire limited [HKWs] was merged with the Comp. with
effect from 1st January. Consequent upon the merger 1,92,000 No.
of equity shares of Comp. were issued without payment in
cash to the shareholders of Hindustan Kokoku Wires Ltd.
- 41,00,000 bonus equity shares issued in prop. 1:1.
1987 - The Comp. undertook to set up a composite steel plant with a
capacity of 1,25,000 tonnes per annum on a place of land
admeasuring 109 hectares of Malanpur in the Bhind district of
Madhya Pradesh. Foreign technical collaboration with Hamburges
Stahl Werke, West Germany, was approved by Government of
- A letter of intent was received for enhancement of capacity from
1,25,000 TPA to 2,50,000 TPA of steel shaped products.
- Gerald Engineering Ltd., was merged with the Company. Consequent
upon this merger, 31,125 No. of equity shares of Comp. were
issued without payment in cash to the shareholders of Gerald
- 2,23,125 shares issued without payment in cash to the erstwhile
shareholders of Hindustan Kokaku Wire, limited [1,93,000 sharess] and
Gerald Engineering limited [31,125 sharess] on their merger.
1988 - The Comp. had taken up the running of jute mill of
Dalhousie Jute Comp. on working arrangement basis with effect
from 1st February.
- During November, the Comp. offered 16,84,625 - 12.5% partly
convertible debentures of Rs.145 each [series VIIs] as rights to
the existing equity shareholders in prop. 1 debenture : 5 equity.
All were taken up. Additional 12,51,800 debentures were allotted
to retain oversubscription.
1989 - As per the terms of issue, Rs.45 out of each debenture was
automatically & compulsorily converted into one equity share of
Rs.10 each at a premium of Rs.35 per share as on 1st April. The
non-convertible portion Rs.100 per debenture would be redeemed in
5 equal annual instalments commencing from the 8th year from the
date of allotment of debentures.
- During August, the Comp. offered 21,77,116 - 12.5% parly
convertible debentures of Rs.145 each [series VIIIs] as follows:
- [is] 20,73,444 debentures as rights to the equity shareholders of
the Comp. in prop. 1 debenture : 5 equity shares. Additional
1,65,120 debentures allotted to retain oversubscription &
- [iis] 1,03,672 debentures to employees & working directors of
the Comp. on preferential basis [only 8,250 debentures taken
ups]. Unsubscribed portion of 95,422 debentures was allowed to
- Subsequently, 52 debentures allotted [12 debentures on 24th
August, 1991 & 40 debentures on 1st November, 1991s] which were
kept in abeyance.
- 19,44,095 No. of equity shares allotted in conversion of 12.5%
[Series VIIs] debentures on 1.4.1989.
1990 - The Tiljala plant achieved a higher sales due to improvement in
- The Comp. runs Chemical Division under the name & style of
Petrocarbon and Chemicals Co., at Haldia in West Bengal.
- Production at the Haldia Unit declined due to scarcity of raw
- The Haldia unit received a letter of intent for production of
50,000 TPA of caustic soda.
- The Haldia unit extended the existing sodium/potassium Cyanide
foriegn collaboration agreement with Lucenbi Zavody,
Czekoslovakia for a further period of 5 years.
- The chemical division substantially increased the production of
diphyenyl guanidine due to its wide acceptance.
- The Chemical division signed an agreement with Lachema S.P.
Czechoslovakia for developing a process for manufacturing
cyanuric chloride. A pilot plant was being set up for cyanuric
- 22,000 No. of equity shares of Rs.10 each were issued as per the
scheme of amalgamation suggested by BIFR to the shareholders of
erstwhile DJCL without payment in cash.
- The convertible portion of Rs.45 [Part `B's] of each debenture was
compulsorily converted into one equity share of Rs.10 each at a
prem. of Rs.35 per share on 1st April.
- The non-convertible portion of Rs.100 [Part `A's] of each
debenture was to be redeemed at par in five equal annual
instalments started from the end of 8th year from the date of
allotment of debentures.
- In order to meet the various requirements of capital expenditure
for modernisation of engineering plants & other on going
project, the Comp. offered during April, 1,76,62,410 No. of
equity shares of Rs.10 each at a prem. of Rs.25 per share. Out
of total issue 168,21,343 No. of equity shares were offered
as rights in the prop. of 4 equity shares for every 3 equity
shares or every 3 convertible portion of debentures - Series VIII
held on 8th February.
- The balance of 8,41,067 No. of equity shares were offered to the
employees & working directors of Company. All the equity
shares offered on rights basis were taken up but only 1,01,700
shares were taken up by employees. Additional 25,05,145 No.
of equity shares were allotted to the subscribers of rights
offer in order to retain oversubscription. Unsubscribed portion
of employees quota was allowed to lapse.
- 22,46,814 No. of equity shares allotted in part conversion of
12.5% [Series VIIs] debentures on 1.4.1990, 194,28,188 No. of
equity shares allotted on Rights basis.
1991 - The working of Tiljala plant also improved due to better
product-mix. The plant was being modernised to add new products
to the existing range.
- A letter of intent was received for manufacture of
- The operations of Dalhousie jute Comp. were adversely affected
for a period of two months due to industry wide general strike.
- Subsequently, 60 debentures allotted on 24th August, which were
kept in abeyance.
- Another 88,665 debentures were offered to employees [including
Indian working directorss]/ workers of Comp. on an equitable
basis. Only 7,670 debentures taken up. The remaining 80,995
debentures were allowed to lapse.
- 22,000 shares allotted as per scheme of amalgamation of Dalhousie
Jute Co., limited 6,012 No. of equity shares issued which were kept
in abeyance [4,250 shares on 24.8.1991 & 1,762 shares on
1992 - The Comp. issued 2,00,11,674 - 14% secured redeemable partly
convertible debentures of Rs.150 each of which [is] 58,33,500
debentures were offered in January, on rights basis to the then
existing equity shareholders in the ratio of two debentures for
every eleven equity shares held.
- Additidonal 8,75,025 debentures were allotted to retain
oversubscription. The debentures were allotted on 14th March,
while keeping 3,667 debentures in abeyance.
- Simultaneously, [iis] 2,91,674 deentures were offered to the
employees/workers of Company. Only 17,150 debentures were
taken up & the balance 2,74,524 debentures were allowed to
lapse on the debentures kept on abeyance 727 debentures were
allotted as 14th September.
- The remaining [iiis] 138,86,500 debentures were offered for public
subscription in February of which 6,94,325 debentures were
reserved for preferential allotment to employees/workers of the
Company. None were taken up & all were added back to the
public issue of 131,92,175 debentures. Additional 20,82,950
debentures were allotted to retain oversubscription. All the
debentures were allotted on 21st April.
- Rs.50 of face value of each debenture was to be converted
into one equity share of Rs.10 each at a prem. of Rs.40 per share
after 6 months from the date of allotment of debentures.
- Another Rs.50 of face value of each debenture was converted
into one equity share of Rs.10 each at a prem. of Rs.40 per share
after 18 months from the date of allotment of debentures. The
remaining Rs.50 of face value of each debenture was to be
redeemed at par in five equal annual instalments beginning from
the 7th year from the date of allotment.
1993 - The Santragachi plant was under lock out for four months due to
agitation by a section of work men.
- Heat treatment salt plant undertaken as a part of forward
itegration programme, was successfully commissioned. Also, a
letter of intent received for setting up the plant for
manufacture of Cyanonic chloride was under implementation.
- Chemical Unit has also obtained the aproval for increase in
capacity of Hydrocyanic Acid & Sodium Cyanide from Govt. of
India. ISO-9002 Certificate has also been received concerning
Sodium Cyanide, Potassium Cyanide & Diphenyl Guanidine.
- 453,65,840 in part conversion of A and B of 14%. 727 No. of equity
shares allotted out of 4727 shares kept in abeyance. 319,38,900
No. of equity shares allotted in conversion of A, B of 14% PCD.
67,22,008 shares allotted in part conversion of 14% rights
debentures. Another 67,13,205 shares allotted in conversion of
`B' part of 14% debs.
1994 - The project for Low Relaxation [Stabilised PC Strands] at
Bharatpur is set to be fully commissioned.
- During September, the Comp. issued 317,07,317 GDRs with
158,53,659 warrants for US$ 161.25 millions including green-shoe
option. Each GDR is to be converted into one equity share.
- As per this, 317,07,317 shares were allotted on 27th September at
a price of Rs.64.30 [on a prem. of Rs.54.36s] & another 5365852
shares were allotted on 20th October, at a price of Rs.64.30
[prem. of Rs.54.30s] against GDRs on excercisory of green shoe
- Each warrant is to be converted into 1000 shares of company
at a price of Rs.35 per share exercisable at the option of the
shareholder after 3 years.
- 13,530 shares kept in abeyance allotted. 317,07,317 shares
underlying GDRs allotted. Another 53,65,852 shares allotted on
excercise of green shoe option. Till date 340,11,114 shares
1995 - Authorised capital increased.
1996 - The Companies division in Northern India was severely affected by
natural calamities & power shortage. Expansion work at
Faridabad was behind schedule due to labour unrest.
1997 - Both the plants at Bharatpur & Faridabad were affected due to
labour unrest & difficult market conditions.
- Cyanuric Chloride unit received a letter of intent to increase
the existing capacity of diphenyl Guanidine plant.
- Production & sales were lower compared to previous year due to
lower gold mining activity & weakening of gold prices in the
1998 - The Santragachi plant witnessed a decline in its turnover due to
recessionary trend coupled with reduced procurement of wagons.
- Due to the recessionary trends coupled with poor availability of
raw materials & difficult market conditions both the plants at
Bharatpur & Faridabad couldn't achieve its targeted
productions, turnover & profitability.
- Due to the difficulties faced by some of its major customers, the
sales & productions of Company Chemical Division at
- The performance of Company chemical division at Olpad was
not satisfactory due to over supply globally.
- The Company steel division at Malanpur declined due to
continous recession in the steel industry.
2000 - The Company jute mill, Dalhousie Jute Company, has been closed
down due to jute mill strike with effect from 22nd March.
- The Comp. has declared lock-out at the Bharatpur plant at its
unit General Engg. Works with effect from 1st May.