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History of Thirani Chemicals Ltd.

The Comp. was incorporated on 8th February, 1973 & received the certificate of commencement of business on 16th February 1973.

The Comp. was promoted by Thirani group in the year 1973. Due to cash losses incurred by Comp. it was taken over by the promoters of Lime Chemicals Ltd.

The company plant is situated on leasehold land measuring 30,365 sq.mtrs. a notified backward area in Himachal Pradesh. The total cost of the project of Rs. 59 lakhs was met by equity capacity of Rs. 22 lakhs, term loans from Himachal Pradesh Financial Corporation [HDFCs] of Rs. 27.05 lakhs, Central Cash subsidiary of Rs. 7.65 lakhs & unsecured loans from promoters of Rs. 2.30 lakhs.

Commercial production commenced towards the beginning of 1978, for the manufacture of its products viz. Calcium Carbonate.

The Comp. is at present operating at 90% capacity with an installed capacity of 17000 MT to meet its increased demand for its products from its regular customers. To reduce the cost of production & to improve the quality of its products the Comp. proposes to increase its plant capacity to 23,000 MT for which the Comp. has decided to go in for modernisation-cum-expansion programme.

During November-December 1989 the Comp. offered 2,20,000 rights equity shares for cash at par in proportion 1:1 [all were taken ups]. Simultaneously another 11,000 equity shares of Rs. 10 each were issued to employees under the employees stock option scheme. None were taken up & they were allowed to lapse.

Thirani Chemicals limited at present is operating its plant at full capacity. The Comp. at present has a continuous backlog of order from its existing customers. Due to its improved quality of products, the Comp. does not envisage any problems in marketing, barring unforeseen circumstances.

The marketing facilities together with a team of professionals and technocrafts would help to achieve the targeted sales and production.