ORIENTAL AROMATICS LTD Share price

Oriental Aromatics Limited was erstwhile established as 'Camphor and Allied Products Limited' on 7 April, 1972. The name of the Company was changed from 'Camphor and Allied Products Limited' to 'Oriental Aromatics Limited' in March, 2018. Presently, the Company is having 3 manufacturing facilities at Ambernath - Maharashtra, Bareilly - Uttar Pradesh, Vadodara - Gujarat and they are engaged in manufacturing and sale of Fine chemicals i.e. camphor, perfumery & specialty aroma chemicals, fragrances and flavour in India. Mr. Dharmil A. Bodani is the current Promoter of the Company. The Company's wide array of products includes Synthetic Camphor, Terpineols, Pine Oils, Astromusk, other speciality aroma chemicals and several other chemicals finding applications in industries ranging from Flavours & Fragrances, Pharmaceuticals, Soaps & Cosmetics, Paints & Varnishes, etc. In 1955, the Flavours and Fragrances business of Oriental Aromatics Ltd was founded by Mr. Keshavlal Bodani. In 1964, the Company established the first synthetic Camphor Plant in India at Barreily in Uttar Pradesh with technology licence from DuPont of USA. In 1974, the Company focused on in-house Research and development to drive innovation and creativity. It established the Malti-Chem Research Centre to carry out extensive work on Terpene Chemistry. The Company merged with Profeel Sentinel in 1988, it diversified to produce speciality high-efficiency polymer foams for packaging, industrial and consumer applications. In 1991, the Company established Flavour Division. In 1992, Company got amalgamated with Pine Chemicals, in manufacturing of turpentine and resin. It came ut with a right issue in Oct.'92 to upgrade & enhance production facilities. In 1995, an export-oriented facility was set-up for the fragrance division by the Company. In November 1999, the Company established a state-of-the-art manufacturing facility at Nandseri, Vadodara focusing on manufacturing of Speciality Chemicals. The installed capacity of Perfumery Chemicals has increased from 500 MT to 850 MT in 2000-2001. The company's subsidiary company 'Mulberry Investment & Trading Ltd was amalgamated with the company w.e.f 1st April,2001. As regards Subsidiary Company viz., Mulberry Investment & Trading Ltd., it was decided to amalgamate this with the Company w.e.f. I' April, 2001. In this connection 2 petitions were filed with the Gujarat High Court and Bombay High Court and the same have been disposed of vide orders dated 10th July, 2002 and 25th July, 2002 respectively. During the year 2005, a Wholly Owned Subsidiary company was established in New Jersey, USA to expand the business activities in the international market. The company invested rupees equivalent to US $ 1,00,000 towards share capital of Subsidiary in 100 shares of $ 1,0007- each also a loan of $ 29,30,0007- was granted to the Subsidiary. The subsidiary company, Oriental Aromatics Inc., shall develop the international market for the products manufactured by the company. The investment would result in long term benefit to the company. During the year 2008 at Bareilly plant, a solid fuel boiler was installed & commissioned at the cost of Rs. 1. 12 lacs, which uses veneer wood chips as a fuel. The new boiler was fully operational by October'07 and the entire project cost was recovered by end of March'08. Secondly, the Inert Gas Plant operated on HSD was replaced at the cost of Rs. 15.76 lacs by new Nitrogen Plant. This plant was also operational by October'07. This new plant does not use costly HSD & has a better operational process. Both these steps resulted in substantial savings in manufacturing cost on Power & Fuel. During the year under review, capital expenditure of Rs. 375 lacs was made at Vadodara plant towards installation of a new plant for production of Alpha Pinene Epoxide to increase the production capacity of this product. During the year 2008, the Promoter and Promoter Group comprising of Midland Finance and Investment Enterprises Pvt. Ltd., Shri Harshul Dalai, Smt. Nina Dalai, Ms. Punya Dalai, Ms. Stuti Dalai and Shri Harshul Dalai (HUF) have entered into a share purchase agreement with M/s Oriental Aromatics Ltd. to sell off their entire shareholding of 16,77,129 fully paid up Equity Shares of Rs. 10/-. The promoters of Oriental Aromatics Ltd acquired a 57.66% in Camphor and Allied Products in August 2008 as well. In 2012, PT Oriental Aromatics was incorporated as the overseas subsidiary in Indonesia. In 2013, the Company executed the commissioning of Astromusk Plant at Vadodara for manufacturing of Astromusk. In 2014, manufacturing and R&D facility was established in Ambernath, Maharashtra with an installed capacity for Flavours and Fragrances. In 2015, theCompany acquired business of two Indian aroma chemical manufacturers - Arofine Chemical Industries and Vaishnavi Chemicals Private Limited respectively. In 2016, the Company set up a synthesis laboratory in Mumbai with the infrastructure required for research and new product development. It focused on synthesizing specialty & generic aroma chemicals to strengthen its R&D base. In April 2017, the equity shareholders of Camphor and Allied Products Limited (CAPL) and Oriental Aromatics Limited (OAL) approved a Scheme of Arrangement for Amalgamation OAL with CAPL to create a larger forward integrated company. The Scheme was approved by Hon'ble National Company Law Tribunal (NCLT) Mumbai Bench on 16th November, 2017. In 2018, Company commissioned a Multi-Purpose Plant (MPP) under the Speciality Chemical Division at Vadodara. In 2018-19, R&D Centre developed new encapsulation technology in perfume delivery system and has done new product development in personal and home care products. The Company incorporated wholly owned subsidiary 'Oriental Aromatics & Sons Limited' on 27th December, 2019. In 2020, the Company's wholly owned subsidiary 'Oriental Aromatics & Sons Ltd.' (OASL) acquired land in Mahad, Maharashtra to set up a Camphor Plant and other multi-products plants. In 2021, Company commissioned a Specialty Aroma Chemical Plant at Vadodara and expanded the Capacity of Terpene Chemicals Plant in Bareilly, Uttar Pradesh. It commissioned again a Specialty Aroma Chemical Plant in Vadodara and a new plant at Mahad in FY 2024. In FY 2025, Company commenced production of a new specialty aroma ingredient, i.e., Evermoss at the Mahad Plant in Maharashtra and is in process of ramping up the production at Mahad Plant in 2026.