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A Oneindia Venture

Nifty 24,005.80 -1.82%

22k Gold ₹ 14,820 /gm

Sensex 77,566.16 -1.71%

Nifty 24,005.80 -1.82%

22k Gold ₹ 14,820 /gm

Sensex 77,566.16 -1.71%

Nifty 24,005.80 -1.82%

22k Gold ₹ 14,820 /gm

Laxmi Organic Industries Ltd. Company History and Annual Growth Details

.The Company was incorporated as Laxmi Organic Industries Limited at Mumbai, Maharashtra as a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated May 15, 1989, issued by the RoC. the Company received a certificate for commencement of business on December 20, 1989, pursuant to the provisions of the Companies Act, 1956.

Major events and milestones of the Company :

1992

- Commission of the AI Manufacturing Facility at Raigad for manufacturing of glacial acetic acid 1996 Commenced production of ethyl acetate

2004

- Installation of two windmills at Chitradurga district, Karnataka with capacities of 0.6 MW each.

- Receipt of ISO 9001-2000 certifications for manufacture and marketing of ethyl acetate, acetic acid and absolute alcohol.

2006

- Installation of windmill at Ghatnandre, Sangli, Maharashtra with capacity of 1.25 MW

2008

- Expansion of ethyl acetate manufacturing capacity at the AI Manufacturing Facility to 51,000 MT

- Setting up of distillery at Jarandeshwar

2010

- Acquisition of ClariantÂs ketene/diketene business and expansion into diketene and diketene derivatives products by commissioning of the SI Manufacturing Facility

- Receipt of ISO 14001:2009 and OHSAS 18001:2007 certifications for manufacturing and marketing of ethyl acetate, acetic acid and its derivatives, acetaldehyde and absolute alcohol

2011

- Increase from 8,900 MT to 13,380 MT in the capacity of diketene and diketene derivatives and expansion of ethyl acetate capacity to 120,750 MT

- Setting up of DSIR approved R&D centre at the SI Manufacturing Facility

2012

- Investment by the International Finance Corporation in the Company

2013

- Incorporation of the Subsidiary, Laxmi Organic (Europe) B.V., in Netherlands, Europe

- Incorporation of the Subsidiary, Laxmi Petrochem Middle East FZE in Sharjah

2018

- Commissioning of the hydro-electric power project at Yedgaon

2019

- Receipt of DSIR registration for the Rabale Innovation Centre

2020

- Acquisition of assets from Miteni by VLPL

2021

- Receipt of USDA Certified Biobased Product label from U.S. Department of Agriculture for ethyl acetate

- Signing of definitive agreements for the YCPL Acquisition

- Receipt of ISO 45001:2018, ISO 9001:2015 and ISO 14001:2015 certification for the manufacturing, marketing and sales of ethyl acetate, acetic acid and its derivatives, acetaldehyde and absolute alcohol

- Investment in Cleanwin Energy One LLP, which is engaged in the business of generation of renewable energy to acquire 26% stake, and execution of a power purchase agreement in connection therewith.

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