INDOKEM LTD
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BSE Code:
504092
NSE Code:
INDOKEM
Business Profile
Business Profile
Indokem (INDOKEM), set up in 1946, is engaged in manufacturing and marketing synthetic dyestuff. It was incorporated on Dec. 22, 1964 as a private limited company and converted into a public limited company on Jan. 27, 1966. Consequent to the merger of the erstwhile Indokem with Khatau Junker in 1995-1996, the name of the company was changed to Indokem from Khatau Junker effective from Oct. 18, 1996. It is part of the Khatau group, a multidimensional enterprise covering industries such as textiles, chemicals, dyestuffs, shipping, electrical cables, footwear, and other sectors. Indokem Exports, Mumbai; Tex Care Middle East LLC, Sharjah; and Indokem Overseas, Chennai are other group companies.
The company manufactures the Indonon range of vat dyes used for dyeing yarn, continuous dyeing and pastes for printing cottons and viscose; sizing and desizing chemicals like resins, binders, plasticizers, anti-static agents, lubricants, starches, starch modifiers, carboxy mrthyl cellulose, washing enzymes, and one-shot sizing products used in dyeing and printing cottons and viscose; Indonon range of direct dyes for dyeing all types of cottons; textile auxiliaries for sizing, sourcing, bleaching, dyeing, printing and finishing; and other products like reactive, disperse and acid dyes; and pigment emulsions.
Manufacturing facilities are located in the Bharuch district of Gujarat with an installed capacity of 360 MTPA synthetic organic dyestuff. The company exports its products to neighbouring countries like China, Bangladesh, Sri Lanka and Pakistan and as far as Europe, Africa and USA.
The registered office is located at Khatau House, Plot No 410/411, Mogul Lane, Mahim, Mumbai-400016.
Financials
Indokem registered a loss of Rs 22.1 million for the year ended March 2008.
It recorded a net sales of Rs 672 million for the year ended March 2008.
Total income was Rs 708.2 million for the year ended March 2008.
The loss per share of the company stood at Rs 1.45 for the year ended March 2008.
Recent Developments
10-APR-08
In the court-convened meeting of equity shareholders of the company held on Apr. 08, 2008, the resolution for approval of the scheme of arrangement and amalgamation of Sovereign Trading Enterprises, Tracklightning Finance And Investments and Royaltern Finance And Investments with the Company and their respective shareholders was approved. The said scheme of arrangement and amalgamation is subject to the sanction of the High Court of Judicature at Bombay.
Future Plans
To exploit the existing infrastructure of the company in trading and exports, schemes are being prepared for backward integration into export-oriented production and for utilizing export as well as import opportunities.
It has identified a dyestuff manufacturing unit at Bhavnagar and is planning to merge the unit with the company. On completion of the merger formalities, it proposes to approach the capital markets to meet part financing of the proposed manufacturing activities and for requirement of increased working capital.