PONDY OXIDES & CHEM LTD Share Price

A Partnership Firm, Pondy Oxides Chemicals Limited, got promoted by R D Bansal, Devekar Bansal and their Associates, in 1992. The Firm started its activities of trading of zinc and lead suboxide in Jul.93. Later on, POC ventured into the manufacture of Zinc Oxide by putting up a manufacturing plant in Pondicherry.Pondy Oxides Chemicals Limited(POCL) was incorporated in year 1995 to takeover the business of the partnership firm at a consideration of Rs.75 lacs. POCL entered capital market with a public issue of 17,05,700 equity shares of Rs 10 each for cash at par aggregating Rs 1.71 cr in Jan.96 to expand the capacity of zinc and lead suboxide. The project also envisaged setting up of one litharge, red lead and zinc production plant. The company has entered in the joint venture agreement with M/s. Katril Oxides (M) Sdn Bhd. The company has exported Plant and Machinery and supplied Technical Knowhow to Malaysia towards 30% share capital participation in joint venture company, Which started commercial production during January 1998.The Companys subsidiary M/s. Baschem Pharma Limited started a new unit in Maraimalai Nagar for manufacture of Liquid Stabilisers, Epoxy Oil and Metallic Octoates and started commercial production in January 99.The Company is a manufacturer and exporter of Metallic Oxides, Plastic Additives and Batteries with established research manufacturing and marketing capabilities. The principal activities of the Company are converting scraps of various forms of Lead, Aluminium and Copper into Lead Metal, Aluminium Metal, Copper and its Alloys. It carries out smelting of Lead Battery scrap to produce secondary lead metal which is further transformed into Pure lead and Specific Lead Alloys. Further, it manufactures Zinc metal and Zinc Oxide.During August 2006, Company raised Rs.735.06 lacs from the shareholderthrough the Right Issue in the ratio of 2 Equity Shares for every three Equity Shares held. The Companys unit at Sriperumbudur, in addition to the Lead Compound business, started manufacturing Lead and Lead Alloys. The Thiruvallur Unit started functioning during the year 200708 for the manufacture of Zinc Metal and further added machineries to manufacture Zinc Oxide. The plants at Madhurantagam was sold in August 2008.The merger of subsidiary company M/s Lohia Metals Pvt. Ltd. with the Company approved by the Honble High Court of Madras on 12th March 2012 with a Share Exchange Ratio of 1:2.5 i.e., 5 fully paid up equity shares of Rs.10/ each of the Company be exchanged for every 2 equity shares of Rs.10/ each held in M/s. Lohia Metals Pvt. Ltd. was made effective from 1st October 2010. Based on the above approval during the year 201112, the Company allotted 1102500 fully paid up equity shares of Rs.10/ each to the shareholders of M/s.Lohia Metals Pvt. Ltd.In 201415, the Scheme of Arrangement between the Company i.e., M/s. Pondy Oxides and Chemicals Limited and M/s. POCL Enterprises Limited for the Demerger of Metallic Oxides Division, Plastic Additives Division, Zinc Refining Division and Lead Alloying Refining Divisions of the Company into the M/s. POCL Enterprises Ltd., was made effective from December 22, 2014. Subsequent thereto, the transfer of four demerged undertakings of Demerged Company into the Resulting Company effective from April 1, 2013 was completed. Prior to the Demerger, M/s. POCL Enterprises Limited (PEL) was a wholly owned subsidiary of M/s. Pondy Oxides and Chemicals Limited (POCL). Pursuant to Scheme of Demerger, the investments of Rs.78.14 lakhs held by the Company in M/s. POCL Enterprises Ltd., as share capital were reduced and cancelled. Consequently, M/s. POCL Enterprises Ltd., ceases to be a wholly owned subsidiary of the Company.During the year 201920, Meloy Metals Private Limited got merged with the Company through the Scheme of Amalgamation effective from 2nd March 2020. As a result, the Company allotted 2,36,397 fully paid up Equity shares of Rs 10/ each to the shareholders of Meloy Metals Pvt. Ltd. Based on the NCLT approval.The Company set up operations of an Aluminum Recycling / Melting Facility at Sriperumbudur factory, in Tamil Nadu in FY 202223. Apart from this, it commenced commercial production by installing plant and machinery effective December 14, 2022. Further, on March 6, 2023, the Equity Shares of the Company got listed on the BSE. Also, during the FY 202223, it acquired two subsidiaries, M/s POCL Enterprises Ltd (Formally known as M/s Baschem Pharma Limited)., and M/s.Lohia Metals Pvt Ltd.