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History of Nagarjuna Fertilisers and Chemicals Ltd.

1976

- The Comp. was Incorporated on 28th January, at Hyderabad. It was promoted by Shah Wallace and Co. Ltd., Nagarjuna Fertilizers Ltd., another Comp. promoted by Shah Wallace and Co. Ltd., was amalgamated with the Nagarjuna Fertilizers and Chemicals Ltd., with effect from 1st April, 1977.

- The Comp. entered into foreign collaboration agreements with Snamprogetti S.P.A., Italy for urea process & with Haldor Topsoe A/S., Denmark for ammonia process.

- The Comp. undertook to set up a project for manufacture of 900 tonnes per day of ammonia & 1,500 tonnes per day of urea [2,97,000 tonnes of ammonia & 4,95,000 tonnes of urea per annums].

1989

- The Comp. allotted 13,00,000-10% CCPs of Rs 100 each at farmers, dealers of Comp. & group shareholders.

1990

- 584,21,729 No. of equity shares & 13,00,000 CCPs subscribed for by the promoters, directors, their associates, etc. 12,25,00,000 No. of equity shares issued at par of which 145,00,000 shares allotted on preferential basis to Mutual Funds [50,00,000 shares to Canbank Mutual Fund; 50,00,000 shares to Indian Bank Mutual Fund; 40,00,000 shares to SBI Mutual Fund & 5,00,000 shares to LIC Mutual Funds].

- Out of remaining 1080,00,000 No. of equity shares, 285,57,000 shares reserved for preferential allotment as follows:

- [is] 90,57,000 shares to employees/workers of Comp. & the promoters companies [only 7,99,200 shares taken ups];

- [iis] 100,00,000 shares to non-resident Indians [only 22,33,000 shares taken ups] and

- [iiis] 95,00,000 shares to Mutual Funds [all were taken ups]. The balance of 794,43,000 shares, together with the unsubscribed 160,24,800 shares belonging to the employees & non-resident' quota were offered to the public in January 1991.

1991

- The Comp. reserved & allotted 8,00,000-10% CCPs to non-resident Indians. Each CCPs is convertible into 10 equity shares of Rs 10 each between 3 years & 5 years from the date of allotment of CCPs.

1992

- The Comp. issued 5,55,35,000-18% secured partly convertible debentures of Rs 40 each at par of which 3,32,88,260 debentures were offered on rights basis to the shareholders in the proportion of 3 debentures: 20 equity shares/2 cumulative convertible preference shares held. Only 170,20,884 debentures taken up. Of the remaining 222,46,740 debentures, 11,12,337 debentures were offered to employees [none were taken ups] & 25,00,000 debentures were offered to NRIs [only 14,32,965 debentures taken ups]. The balance 186,34,403 debentures along with 184,46,748 debentures not taken by shareholders [right issues], employees & NRIs were issued to the public. All were taken up.

- Each debenture of Rs 40 was divided into Part A & Part B of Rs 20 each.

- Rs 10 of Part A of each debenture was to be converted into one equity share of Rs 10 each at par on the date of allotment of debentures. The balance of Rs 10 of each debenture was to be redeemed in three installment of Rs 3, Rs 3 & Rs 4 at the end of 7th, 8th & 9th years from the date of allotment.

- Part B of Rs 20 will be converted at the option of investor into one equity share of Rs 10 each at a premium of Rs 10 per share. The amount was to be redeemed in three installments of Rs 6, Rs. 6 & Rs 8 at the end of 7th, 8th & 9th year from the date of allotment of debentures.

- Jaiprakash Engineering & steel Comp. Ltd & Pennar Refineries limited are the subsidiaries of company.

1993

- 210,00,000 shares allotted on conversion of `B' part of debentures.

1995

- With a view to bringing about improvement in farm management practices the Comp. set up a Agri-Output divisions.

- The Comp. proposed to set up a 2.2 million tpa export oriented integrated hot rolled coils steel plant at Mangalore.

1996

- The Comp. for third consecutive year received the British Safety Council Award in recognition of company excellence in the field of safety.

- The Comp. proposed to enter into a joint venture agreement with international majors in steel for setting up a project as a separate company.

- The Comp. signed a joint venture agreement with Haifa Chemicals Ltd., Israel, for production & marketing of water soluble speciality fertilizers.

1997

- In view of synergy of operations the Comp. undertook to set up a refinery at Cuddalore in Tamil Nadu through Pennar refineries Ltd. along with Tamil Nadu Industrial Corporation.

- 18,33,333 shares allotted on amalgamation of Sri Ganesh Petrochemicals Ltd., with the Comp. in the proportion of 1:3 in 1996-97.

- NFCL had planned to set up a 2.2 million-tonne flat steel project in Mangalore, Karnataka, as part of its diversification move.

- The Comp. is diversifying into steel & will set up a new company with a 30 percent equity stake.

- The Comp. also intends to set up an export-oriented integrated hot-rolled coils steel plant under a separate Comp. & is also scouting for foreign partners for project.

- Nagarjuna Fertilizers & Chemicals limited [NFCLs] was awarded the prestigious Rajiv Gandhi Paarti Bhoomi Mitra Award.

- The Hyderabad-based Nagarjuna Fertilisers and Chemicals limited [NFCLs] has entered into an agreement with Haifa Chemicals of Israel to manufacture & market chemical fertilisers in the country.

- NFCL project proposal was to set up an EOU at Nellore with foreign equity collaboration for manufacture of liquefied petroleum gas, motor spirit & aviation turbine fuel or jet kerosene.

- Nagarjuna Fertilisers and Chemicals limited [NFCLs] to set up a refinery as a 100 per cent export-oriented unit at Nellore has received a setback with the Foreign Investment Promotion Board [FIPBs] rejecting the project proposal.

- NFCL has an assured supply agreement with the Gas authority of India for 11 years & a captive power plant which meets 50 percent of its power requirement.

1998

- The refinery with a capacity of five million tonnes per annum will be set up at Cuddalore in Tamil Nadu.

- The Foreign Investment Promotion Board has cleared the Rs 1,660 crore LNG terminal to be set up by Nagarjuna Fertilisers along with the UK-based Hardy Oil & Hindustan Oil Exploration Company.

- Nagarjuna Chemicals & Fertlisers limited is tying up with British energy company, Hardy Oil Ltd, to form a joint venture for setting up a one million metric tonne liquefied natural gas [LNGs] terminal and regassification facility at Kakinada in Andhra Pradesh.

- The conversion of loans into equity is part of term loan agreement entered into by Comp. with FIs, led by Industrial Development Bank of India [IDBIs].

1999

- NFCL, which recently forayed into information technology, will invest Rs 10 crore into the joint venture.

- The Comp. has issued 1,54,000 equity shares to financial institutions as per the loan agreement, while core promotes have increased their equity by 50,75,000 shares at a premium of Rs 5.71 per share.

- The financial closure of Nagarjuna Oil Corporation Ltd, which is setting up a 6 million tonnes per annum refinery plant at Cuddalore.

2000

- The Comp. shall be offered by Comp. two fully paid-up equity shares of Rs. 10/- each in Nagarujuna Oil Corporation Ltd., 100% subsidiary of company, in exchange of one fully paid-up equty share of Rs. 10/- each held in the company.

- The Comp. received the Vana Mitra Award instituted by the Department of Forests, Government of AP.

- Credit Analysis and Research has downgraded PR1+ to PR1, while the AA- rating assigned to the fixed deposit & been downgraded to A+.

2001

- The Rs 1,300 crore Nagarjuna Fertilisers & Chemicals Limited [NFCLs] will be merged with Nagarjuna Corporation Ltd [NCLs].

2002

-NFCL unveils Divyashakti, a customized granulated fertilizer blend.

-NFCL, Kakinada obtains the Environment Protection Award in the nitrogenous Fertiliser Plants category.

2003

-Company bags ISO 9001:2000 for Quality Management System [QSMs].

-Members approve for delisting from 6 Stock Exchanges.

-Mr. O P Jagetiya ceased to be the Director & Wholetime Director of Company.

-Nagarjuna Fertilizers & Chemicals Ltd [NFCLs] has been given the cleaner production award for good practises by Andhra Pradesh Pollution Control Board [APPCBs]

2005

-NFCL names PwC as consulting partner for business re-engineering

-Nagarjuna Fertilisers and Chemicals Ltd wins Fertiliser Association of India Environment Protection Award in the nitrogenous fertiliser

-Nagarjuna Fertilisers & Chemicals selected for `Excellence in Natural Gas Conservation' award in the fertilisers category

2006

-Nagarjuna Fertilizers and Chemicals Ltd has informed that Shri. V N Rai Ceased to be the Alternate Director to Shri. Chandra Pal Singh Yadav, Nominee Director of KRIBHCO, with effect from July 08, 2006.

- Nagarjuna Fertiliser and Chemicals limited has informed that IFCI Limited Vide their letter No.IFCI/NDC-2/2006-7332 dated October 3, 2006 have nominated Shri B B Tandon as their nominee on the Board of Directors of Comp. in place of Shri R K Chavali with effect from October 27, 2006.