ZUARI INDUSTRIES LIMITED

Zuari Industries Limited was formerly incorporated on May 12, 1957 as 'Zuari Global Limited'. The name of the Company was changed from Zuari Global Limited to Zuari Industries Limited w.e.f. June 17, 2022. Zuari Industries, a part of K K Birla Group is a leading agriinputs company. The Company's primary business activity includes acquisition and development of land, extraction & sale of sugar & other allied products from sugarcane. The Company is engaged in generation & export of power by utilising bagasse and manufacture & sale of ethanol by utilising molasses. The Company also advances loans to its group companies for carrying out businesses in various verticals such as agriculture, heavy engineering, lifestyle and its ancillary business. The company was established in collaboration with the United States Steel Corporation. In 1973, they set up a large manufacturing unit for producing urea in Goa. Also, they set up NPK plant in the year 1975 and DAP plant in the year 1984. In the year 1987, the company promoted Chambal Fertilisers and Chemicals Ltd. In the year 1993, the company launched sales of potash for direct application to the farmers. Also, they launched 'Biophos' an environment friendly to enhance phosphorus use efficiency. The company entered into an agreement with Texmaco Ltd for running and operating their cement unit at Yerraguntla in Andhra Pradesh with effect from January 1, 1994. In the year 1994, the company formed a wholly owned subsidiary in the name of Zuari Leasing & Finance Corporation Ltd. Also, they set up a joint venture in the name of Zuari Seeds Ltd with Institute of Field & Vegetable Crops & KOP Investments Cyprus (IFVC) on 50:50 basis for production and marketing of hybrid seeds. In May 1995, they commissioned argon recovering plant. In the year 1996, the company undertook the expansion of di-ammonium phosphate plant from 500 to 1100 tpa at a cost of Rs 18.67 crore based on technology supplied by Grand Parroise of France. Also, they expanded their NPK plant by increasing the capacity from 500 to 1100 tpa at a cost of Rs 46.18 crore. In the year 1999, the company undertook the expansion of complex fertiliser capacities from 1.50 lakh tpa to 3.30 lakh tpa at Rs 41.70 crore. In the year 2000, they entered into an agreement with Italcementi Spa, Italy for carrying on their cement business as a joint venture. Indian Furniture Products, a division of the company launched their Zuari furniture range in Bangalore. During the year 2000-01, the cement division of the company was hived off into a separate company Zuari Cement Ltd with effect from April 1, 2000 in which company, Ciments Francais SA, France is a 50% partner. The company acquired majority stake in GreenTech Seeds International Pvt Ltd and consequently that company became a subsidiary of the company. Also, Zuari Investments Ltd ceased to be subsidiary of the company during the year. During the year 2001-02, Zuari Seeds Ltd, an erstwhile 50:50 joint venture became a subsidiary of the company, consequent to sale of equity stake by Institute of Field & Vegetable Crops & KOP Investments, Cyprus, in favour of the company. In February 2002, Zuari Maroc Phosphates became the subsidiary of the company. In February 28, 2002, the company through their joint venture subsidiary, Zuari Maroc Phosphates Pvt Ltd, acquired 74% equity stake of the Government of India in Paradeep Phosphates Ltd. Consequent to the acquisition of Paradeep Phosphates Ltd, the group became the largest producer of fertilisers in private sector in India. During the year 2002-03, Indian Furniture Products Ltd became subsidiary of the company with effect from April 1, 2002 consequent to hive-off of furniture products division into a separate company. During the year 2003-04, Simon India Ltd became a wholly owned subsidiary of Zuari Global Ltd, consequent purchase of 1,500,000 equity shares from Simon Overseas Holdings Ltd, UK. Also, Simon India Ltd commissioned the white Oil pipeline for Zuari Indian OilTanking Ltd in Goa. During the year 2004-05, the company installed vibropiller at the Urea Prilling Tower, which improved the urea quality. GreenTech Seeds International Pvt Ltd, erstwhile subsidiary of the company was amalgamated with Zuari Seeds Ltd, resulting in a healthy portfolio of hybrid seeds and in the reduction of overhead expenses. During the year 2005-06, the company replaced the titanium lined Urea reactor with a Stainless Steel lined reactor fitted with High Efficiency trays to improve the urea conversion efficiency. During the year 2006-07, the company replaced the 31 year old NPK Plant Dryer. Also, in the Ammonia Plant, the raw naphtha heater as well as the feed stock heater were revamped to improve their efficiencies to 85% from 75% and in the NPK Plant, an air heater was installed for heating the dryer inlet air by using waste heat from the Urea Plant. Zuari Maroc Phosphates Ltd ceased to be a subsidiary of the company with effect from September 7, 2006, following the transfer of 1% shareholding in favour of Maroc Phosphore S A. In December 2006, the company incorporated Zuari SEZ Ltd with an objective of setting and developing Special Economic Zone for Information Technology (IT) and Information Technology Enabled Services (ITES). Zuari SEZ Ltd became 100% subsidiary of the company with effect from February 21, 2007. During the year 2007-08, the company installed a new Medium Pressure Boiler of 5 MT/hour capacity, which was mainly used during the annual turnaround of Ammonia/Urea Plants. In the Ammonia plant, the company installed a new Dehydrator at the interstage of Synthesis Gas Compressor to improve its efficiency and Air Heating Coil in the convection duct of Primary Reformer to recover the waste heat. In July 2007, the company entered into a joint venture agreement with Israel Chemicals Ltd for establishment of water soluble NPK Fertiliser Plant with an initial capacity of 10,000 tonnes per year. In December 2007, Zuari Developers Private Ltd (formerly known as Anil Kumar M N Developers Pvt Ltd) became subsidiary of Zuari Infrastructure and Developers Ltd (formerly known as Zuari SEZ Ltd), a wholly owned subsidiary of the company. Consequently, Zuari Developers Pvt Ltd became a subsidiary of the company. During the year 2008-09, the company acquired 100% equity interest in Gulbarga Camvits Ltd for a total consideration of Rs 5 lakh. In March 2009, they acquired 6,240,962 shares of Zuari Investments Ltd and hence Zuari Investments Ltd became a subsidiary of the company with effect from March 30, 2009. In August 2009, Globex Ltd became wholly owned subsidiary of the company and effective 29th January, 2010 Zuari Fertilisers & Chemicals Limited, became wholly owned subsidiary of the company. On 10th September, 2009 Zuari investments Limited, a subsidiary of the company acquired 100% equity stake in Zuari Holdings Ltd. making it a wholly owned subsidiary. During the year 2010-11, based on the Basic Engineering Design package supplied by M/s. Kellogg Brown & Root, U.S.A. and detailed engineering done by M/s. Projects & Development India Ltd., the fertilizer plant has been retrofitted and is completely ready to seamlessly change over from the present feedstock of Naptha to Natural Gas, as and when, it is available. The Group has developed a new corporate identity, 'adventz', with a view to harness and harmonise the vast reservoir of human talent, technology know-how and other resources in a collaborative, inclusive and sustainable manner so as to drive india's development and progress. In 2011-12, the Fertiliser Business Undertaking of the Company was demerged into erstwhile subsidiary Zuari Holdings Limited (ZHL) through the Scheme of Arrangement and Demerger and the said Scheme became effective from 1 July 2011. In terms of the Scheme, Zuari Holdings Limited allotted shares to the existing shareholders of the Company in the ratio of 1:1. The Sugar Power & Ethanol (SPE) Division of the Company started manufacturing and selling high-grade sugar to pharmaceutical and food processing industries in 2023. The Division also undertook multiple digital initiatives such as launch of Saksham App, Cutto-Crush Monitoring, Yard Optimisation tool, etc. in order to efficiently manage the operations and establish a better outreach to farmers. During FY 2023, the Company sold 20.8 acres of land at Sancoale Village in South Goa. The ethanol production capacity enhanced to 125 KLPD in FY 2024. The Scheme of Amalgamation of Zuari Sugar & Power Limited (ZSPL) with the Company was approved by Hon'ble NCLT Bench Mumbai on 12 April 2024 and made effective on April 30, 2024.