HINDUSTAN ORGANIC CHEMICALS LT Share price

Hindustan Organic Chemicals Limited, a Government of India Undertaking was incorporated in 1960 by the Government of India. The company was established of attaining self-reliance in basic organic chemicals needs. Initially, the company started as small chemical unit, has now acquired the status of a multiunit company with two fast growing units and one subsidiary unit. The Company is engaged in the business of bulk industrial chemicals and chemical intermediates. It provide the basic organic chemicals essential for vital industries like resins and laminates, dyes and dyes intermediates, drugs and pharmaceuticals, rubber chemicals, paints, pesticides and others, touching virtually facet of everyday life. They also produce the versatile engineering plastic polytetrafluoroethylene (PTFE) through their subsidiary. They have one subsidiary company, Hindustan Fluorocarbons Ltd. The main products manufactured by the company are Phenol, Acetone, Nitrobenzene, Aniline, Nitrotoluenes, Chlorobenzenes and Nitrochlorobenzenes. The company has two manufacturing units at Rasayani, Dist. Raigad in Maharashtra & at Kochi in Kerala. Their subsidiary unit is located at Hyderabad in Andhra Pradesh. In April 1971, the company established their R&D unit at Rasayani in Dist. Raigad, Maharashtra State. The unit was recognized by DSIR, Ministry of Science and Technology, Government of India. The unit was set-up to undertake development work to utilize a number of by-products and to increase the profitability of operations by improving the yields and raw material and utility consumption norms and to develop the processes identified for Long Range Growth. In November 1994, the company made this public issue to finance their project to manufacture Caustic Soda, Hydrogen Peroxide and Chlorosulphonic Acid. They had technical collaborations with Asahi Chemicals, Japan, for their caustic soda/ chlorine project; and with Baxenden Chemicals, UK, for their polyurethane systems. During the year 1997-98, the company completed their Hydrogen Peroxide Project at Kochi. As a part of their expansion programme, the company signed a service agreement with UOP, US, for the increase in the capacity of existing Phenol plant to 65000 TPA. The Cumene unit is revamped to increase the capacity from 56000 TPA to 90000 TPA. They also commenced commercial production of Polyurethane system house project. During 1999-2000, both Rasayani & Cochin units obtained ISO 9002 Certification by Bureau Veritas Quality international (BVQI). The Cochin Unit was awarded ISO 14001 Certificate by BVQI. During the year 2006-07, the company set up Hydrogen bottling facility at plant at Rasayani Unit at a cost of Rs 65.02 lakh to sell the surplus Hydrogen available from their plant for captive use, in the neighboring industries at prevailing market rates. During the year 2008-09, the company came out of the 'SICK Unit' / BIFR status. They commissioned the Caustic Soda/ Chlorine plant. In January 2008, the Quality Management System (QMS) of Rasayani Unit was recertified. During the year 2009-10, the company signed the Gas transmission Agreement with M/s GAIL with the availability of Natural Gas from GAIL, the Company would change the feed stock of Hydrogen from Naphtha to Natural Gas and also for boiler operation in place of furnace oil natural gas would be used. In June 2009, GMS of Kochi was upgraded to ISO - 9001: 2008 standards. The de-bottlenecking of Hydrogen peroxide plant at Kochi was completed at the cost of Rs. 2 crores in 2012. HOCL has a manufacturing unit at Kochi in Kerala, which became operational in 2022. HOCL also has it's subsidiary Hindustan Flurocarbons Limited (HFL) manufacturing unit at Hyderabad in Andhra Pradesh. The main products manufactured by HOCL are Phenol, Acetone, and Hydrogen peroxide. The raw materials used by HOCL are Benzene and LPG, which come from petroleum refineries. Apart from these, the Company provides the basic organic chemicals essential for vital industries like resins and laminates, dyes and dyes intermediates, drugs and pharmaceuticals, rubber chemicals, paints, pesticides and others, touching virtually facet of everyday life. It also produces the versatile engineering plastic polytetrafluoroethylene (PTFE) through its subsidiary.