SM Dyechem Ltd. Company History and Annual Growth Details

YEAR EVENTS
1982 - The Company was incorporated in 3rd June at Mumbai as a private
limited company, and converted into a public limited company on
25th October, 1986. The Company was promoted by S. M. Shetty and
S. Vivek Shetty. It manufactures and markets speciality
chemicals for the textile industry, surfactants, disinfectants
and extruded Snack foods.

1985 - Shares sub-divided on 25st October, 2,03,300 rights shares of Rs.
10 each then issued at par in prop. 2:1. Aother 6,85,050 shares
of Rs. 10 each then issued at par of which 85,050 shares were
reserved and allotted to promoters, directors, etc. employees and
business associates. The balance 6,00,000 equity shares were
offered for public subscription in February 1986. (all were taken
up).

1986 - The Company had also taken up a project for the manufacture of
ready-to-eat extruded, packaged snack foods (fried and roated).
The site for this project was selected at Thane and a modern
plant with the state-of-art technology was supplied by M/s.
Mapimpianti of Italy who also provided the technical know-how.
This project was commissioned during the last quarter of 1988 and
the products were marketed under the brand name 'Peppy'.

1987 - As a result of extending the technical co-operation of Allied
Colloids, Ltd., U.K. for speciality products, the Company
introduced a large number of import substitution products for
filament sizing in the textile industry, amino-silicons based
finishing chemicals and chemical substitutes for kerosene in the
printing industry.

- During March-April, the Company issued 99,000 - 15% fully
convertible debentures of Rs. 100 each as rights to the existing
sharheolders in proportion 1 Deb. : 10 equity. All were taken
up. Additional 9,900 debentures were allotted to rtain
oversubscription.

- Simultaneously another 4,950 debentures were offered to
employees/workers including working directors of the Company.
All were allowed to lapse as none were taken up.

- Rs. 50 of the face value of each debenture was converted into 5
equity shares of Rs. 10 each at par on 1st May 1988. The
balance Rs. 50 of the face value of each debenture was also
converted into 5 equity shares of Rs. 10 each at par on 1st May
1989.

- Thus, a total of 10,89,000 No. of equity shares of Rs. 10 each
were allotted in conversion of 15% debentures.

- 4,95,000 rights shares issued at par in prop. 1:2 in March.
Another 24,750 shares offered to employees etc. (none were taken
up) and all were allowed to lapse. 5,44,500 No. of equity shares
allotted at par in part conversion of 15% debentures on 1st March
1988.

1988 - With a view to further expand the consumer products division, the
Company made an application for the manufacture of 25,000 hecto
litres of bear in Maharashtra State.

- The Company signed an agreement with M/s. Zschimmer & Schwarz,
West Germany to promote a joint venture company with equity
participation of 40% each. The joint venture company under the
name SM Zschimmer & Schwarz Chemicals, Ltd. was incorporated on
9th February.

- During April-May, the Company ofofered 4,00,000 - 14 partly
convertible debentures of Rs. 145 (Rs. 580 lakhs) each as rights
in proportion 1 Deb.:5 equity. Out of this 19,047 shares were
offered for subscription by paranent employees including Indian
working directors of the Company but none were taken up. All the
4,00,000 debentures were allotted to shareholders.

- Rs. 45 of the face value of each debenture was converted into 3
equity shares of Rs. 10 each of the company at a premium of Rs. 5
per share on 1st May 1989. The balance of Rs. 30, Rs. 35 and Rs.
35 at the end of 6th, 7th, and 8th years from the date of
allotment, viz., 1st September.

1989 - The Company applied to Government to convert the SIA registration
into a 100% export oriented unit. There was no further progress
reported so the company was awaiting the Government policy on gas
allocation and its pricing.

- The Company undertook to set up a project for the manufacture of
ethlens omide (EO) and mone-ethylane glycol (MEG) at Pune in
Maharashtra. An agreement was signed with Scientific Design
Company of U.S.A. to provide the process know-how and the basic
engineering package.

- The Company entered into an agreement with KSIIDC to set up a
project in joint sector for the manufacture of 50,000 tonnes per
annum of carbon black at South Kanara in Karnataka. The Company
was on a lack-out for a suitable technical collaborator.

- The existing ethylene oxide condensate plant of SM Dyechem, Ltd.
was transferred to the joint venture company on 1st January.

- The Company issued to the financial institutions 14% secured
non-convertible debentures on private placement basis.

- 5,44,500 shares allotted at par in conversion of 15% debs. on 1st
March. Another 12,00,000 shares allotted at a prem. of Rs. 5 per
share on 1st March in conversionof 14% debs.

1990 - The Company identified a site for the project in the Bastar
district of Madhya Pradesh. It was decided to take effective
steps in the implementation of the project only after the
commencement of commercial production of the EO/MEG project.

- The new Company entered the capital market in April.

- During November, the Company offered 39,97,980-14% fully
convertible debentures of Rs. 150 each of which 38,07,800
debentures were offered on rights basis in the ratio of one
debenture for every one equity share hold. All were taken up.
The balance 1,90,380 debentures were offered to employees/workers
of the company. All were taken up. Additional 5,99,710
debentures issued (5,71,140 to shareholders and 28,570 to
employees/workers) to retain oversubscription.

- Simultaneously, 84,000 debentures were offered to the foreign
collaborator, i.e. Petron International Inc., U.S.A. All were
taken up.

- Simultaneous to the rights issue, the company offered
51,84,687-14% fully convertible debentures of Rs. 150 each of
which the following were reserved for preferential allotment:

- (i) 5,94,666 debentures to NRIs on repatriation basis;

- (ii) 2,59,235 debentures to employees/workers of the Company;

- (iii) 13,90,000 debentures to the shareholders of group companies
and

- (iv) 9,26,666 debentures to Mutual Funds.

- Except 2,55,335 debentures under employees quota, all were taken
up. The balance 20,14,120 debentures alongwith the unsubscribed
portion of 2,55,335 of employees quota were offered for public
subscription in November 1990. Additional 7,77,679 debentures
were issued to retain oversubscription (80,484 to NRIs; 2,08,150
to shareholders of group companies; 4,89,045 to public).

- Debenture under both rights and public issue were alloted on 1st
February 1991.

- As per the terms of issue, Rs. 60 of each debenture was converted
into two equity shares of Rs. 10 each at a premium of Rs.20 per
share on 1st August, 1991. The balance Rs. 90 of each debenture
would be converted into such number of equity shares at a price
to be determined by CCI on expiry of 24 months from the date of
allotment.

1991 - The Company undertook development of various Specialised
chemicals based on EO like polyethytlens glycols, demulsifiers,
non-ionice that find application in industries such as textiles,
leather, pharmaceuticals etc.

- The Company acquired with effect from 1st August, as a going
concern, the Soya unit of Sritannia Industries, Ltd.

1992 - Refined oil 'vital', snack foods under brand names 'Peppy',
'Piknik' were well received in the Mumbai market and the unit
commenced launching of these products on all India basis.

2002-SM Dyechem Ltd has informed BSE that Mr R V Joshi has been appointed as Company Secretary and Compliance Officer of the company wef September 16, 2002.

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