Shree Pushkar Chemicals & Fertilizers Ltd

Shree Pushkar Chemicals Fertilisers Limited was incorporated as Shree Pushkar Petro Products Limited on March 29, 1993 in Mumbai. The name of the Company was changed to Shree Pushkar Chemicals Fertilisers Limited on March 5, 2012. It is promoted by first generation entrepreneurs, Mr. Punit Makharia and Mr. Gautam Makharia.The Company is engaged in the business of manufacturing and trading of Chemicals, Dyes and Dyes Intermediate, Cattle Feeds, Fertilisers and Soil Conditioner. The company commenced its business operations with a trading business and has emerged to become one of the few manufacturers with widest range of dye intermediates in India with zero waste. It is also amongst Indias leading manufacturers of KAcid, a dye intermediate used to manufacture reactive dyes for dying of textiles. It has state of the art integrated manufacturing facilities located at Lote Parshuram, MaharashtraIn August 2015, the company made an Initial Public Offer (IPO) for 1,07,69,200 equity shares of Rs.10 each, comprising of 87,42,611 fresh issue of equity shares by the Company and 20,26,589 equity shares offered for sale by selling shareholders India Enterprise Development Fund (IEDF). The equity shares were issued at a price of Rs. 65 per equity share (including premium of Rs. 55 per share). Out of the total proceeds from the IPO of Rs 7,000 Lakhs, the companys share is Rs. 5,682.70 Lakhs from the fresh issue of 87,42,611 equity shares. In January 2016, commercial production commenced at the companys NPK mixed fertilisers plant. A capacity of 20,000 MTA has been established for this product, in the Soil Conditioner granulation plant, without any significant capital cost, as there was sufficient idle capacity in this department. The 3000 TPA reactive Dyes plant was commissioned in end January 2016.The commercial production of the Reactive Dyes plant commenced in May 2016, whereas the VS plant had been commissioned in June 2016, while the Hacid plant was commissioned and put on trial runs in March 2017. With the said commissioning, the entire expansion as was envisaged through the IPO proceeds stands completed. The company commissioned the Sulphate of Potash (SOP) plant with a capacity of 10,000 MT annum in October 2016.During the year ended 31 March 2017, the company launched 12 auxiliary Textile processing chemicals. During the financial year, the company invested Rs.1 Lac by subscribing to the equity shares of the Company LCI Textile Solutions Private Limited and made this company a wholly owned subsidiary company. Eventually after reconsidering its future strategies and takeover plans, the company has sold all of its investment in this company to outsider. The transfer was done at par price and to the new management of the company, which is not related to the company or promoters of the company.The HAcid Plant was put into regular commercial operations by August, 2017. The capacity of the Dyes plant doubled to 6000 MTA and the additional capacity was commissioned in December, 2017. The Company expanded the capacity of Sulphate of Potash (SOP) Plant by installing an additional Furnace of 10,000 MTA and commissioned it in March 2018, taking the total manufacturing capacity of SOP to 20,000 MTA.The Company tookover an existing Fertiliser unit engaged in the manufacture of SSP in Haryana with a capacity of 1,00,000 MTA, set at Village Gawar, in Hisar District by acquiring 100% shares of the Company for a total consideration of Rs.9.02 Crores, thus making it a fully owned subsidiary of the Company in 2018. The 100 TPD Sulphuric Acid Plant in Kisan Phosphates along with the 750 KW Captive Power Plant commissioned in March, 2019. In 202122, the Company commenced Solar Power Project of 4 MWAC/5.2 MWDC Solar Power Project (Two Projects of 2.00 MWAC/2.60 MWDC each) at Tal Akole, in Ahmednagar District of Maharashtra.