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पोन्नी शूगर्स (उड़ीसा) > कंपनी इतिहास > Sugar > कंपनी इतिहास का पोन्नी शूगर्स (उड़ीसा) - बीएसई: 507427, NSE: PONNIORISA

पोन्नी शूगर्स (उड़ीसा)

बीएसई: 507427  |  NSE: PONNIORISA  |  ISIN: INE096D01022  |  Sugar

कंपनी इतिहास - पोन्नी शूगर्स (उड़ीसा)
1982 - The Company was incorporated on 25th February.  The Company
 was
        promoted by N. Narayanaswamy Dr. L. M. Ramakrishnan, R.
 Pongianra
        Gounder and S. K. Ramasamy.  It had set up a 1,250 TCD Sugar
        Mills at Pallipalayam in Salem District of Tamil Nadu by
        installing a coal-fired boiler in lieu of conventional
 bagasse
        fired boiler. This abled the Company to release of the
 bagassee
        production in entirety to the neighbouring paper mill of
        Seshasayee Paper and Boards Ltd., as a valuable joint-product
 to
        enhance the profitability of the sugar mill.  Trial runs
        commenced in January 1984.
 
 1984 - 3,83,200 shares taken up by promoters, etc, 36,16,800 shares
 were
        then issued at par of which 12,16,800 shares were reserved
 and
        allotted on a firm basis to promoters, etc.  Another 8,00,000
        shares were offered on a preferential basis to NRIs on
        repatriation basis (only 2,75,650 shares taken up).  The
 balance
        16,00,000 shraes, along with 5,24,350 shares not taken up by
        NRIs, were offered to the public in Feb. 1984 (only 6,79,300
        shares taken).  Out of the balance 14,45,050 shares, 4,00,000
        shares taken up by promoters, etc., and 10,45,050 shares
        devolved on the underwriters (IFCI, ICICI & IDBI).
 
 1986 - Machines such as cane mincer, mist cooling system, automobile
        bagging and weighing systems, installed by way of upgradation
        of process technology, were commissioned.
 
 1987 - (18 months), the Company erected and commissioned a 25 TPH
 high
        pressure multifuel ignifluid boiler and a falling film
 evaporator
        as part of the co-generation-cum-energy conservation project.
        Another component of the project was to set up a 3 MW turbo
        generator.
 
      - 36,300 equity shares issued at par to financial institutions
 in
        conversions of loans.
 
 1991 - The Company took over the operations of a Sick Cooperative
 Sugar
        Mill at Bargarh in Orissa having an installed capacity of
 1,250
        TCD on management contract basis from 30th August.  The
        operational viability was readily restored in the very first
 year
        of take over by achieving breakeven.  While the maximum cane
        crushing by the cooperative mill during its 17 years of
 existence
        never exceeded 71,000 tonnes, the Company established a
 record
        crushing of 1.30 lakh tonnes during the first year of
 operation
        under its managment.  Under the management contract which
 ensures
        for a period of 16 years, the profitability of operations
 will
        accrue to the benefit of the Company.  A fixed royalty of Rs
 6
        lakhs per annum is payable during the first three years,
        whereafter the annual royalty is Rs 89.50 lakhs.  There is an
        option for renewal of the agreement for another 10 years on
        terms to be mutually agreed upon between the parties to the
        contract.
 
 1992 - 31,60,900 equity shares allotted (6,75,000 shares at par and
        24,85,900 shares at a prem. of Rs 20 per share).
 
 1993 - The Company undertook to set up a new sugar mill at
 Sagarpalli
        village in Balangir District of Orissa.  The Company had
        placed orders for plant and machinery viz., milling tandem,
        centrifugals and boiler.  Trial runs were expected to
 commence
        by November and commercial production from January 1994.
 
      - During April the Company issued 24,85,900 equity shares of Rs.
 10
        each at a premium of Rs 20 per share: (i) 2,00,000 shares of
        Primeasia Investment Pvt. Ltd., Singapore (all were taken
 up);
        (ii) 1,81,850 shares to Tonecliff Ltd., England (all were
 taken
        up); (iii) 85,900 shares to Seshasayee Paper and Boards Ltd.,
        (all were taken up) and (iv) 20,18,150 shares to shareholders
 on
        rights basis in the proportion 1:2.  (Only 16,94,167 shares
 taken
        up.)  The balance 3,23,983 shares devolved on the
 underwriters.
 
      - Another 6,75,000 equity shares of Rs 10 each at par were
 alloted 
        to Industrial Promotion & Investment Corporation of Orrisa
 Ltd.
        (IPICOL)
 
      - In April, the Company issued 4,03,630-16% secured redeemable
        partly convertible debentures of Rs 150 each on rights basis
 in
        the proportion of 1 debentures: 10 equity shares held.  Only
        2,25,227 debentures taken up.  The balance 1,78,403
 debentures
        devolved on the underwriters.  Another 10,66,370-16% secured
        redeemable partly convertible debentures were offered through
        prospectus of which 1,06,637 debentures were offered on
        preferential basis to Mutual Funds.  The remaining 9,59,733
        debentures were offered to the public during June 1993.  All
 were
        taken up.  Separate details of allotment not known.
 
     -  Part A of Rs 60/- of each Debenture will be converted into 
        Two Equity shares of Rs 10/- each at the premium of Rs 20/- 
        per shares on the expiry of six months from the date of   
        allotement.
 
     -  Part B of Rs 90/- of each debenture will be redeemad in three
        equal installments on the expiry of 6th,7th and 8th year from
 the
        date of allotements.
 
     -  Each lot of 5 Debenture will carry a Tradable Warrant
 intitling
        the holder to apply for one equity shares of Rs 10 each at a 
        premium of Rs 20/- within three year from the date of
 allotement
        of Debentures.
 
 1994 - Operational performance of Erode unit was encouraging with
        substantial increase in cane crushing at 4.3 lakh tonnes.
 
      - The expansion of the Erode Unit from 1,250 TCD to 2,500 TCD
 was
        completed and commissioned for production on 14th November.
 
      - The volume of crushing of the unit was 0.95 lakhs tonnes as
        against 0.7 lakh tonnes of previous year.  Though recovery
 was
        better upto mid-January 1995, the unscheduled rains brought
        about a lower recovery in the remaining part of the season.
 
      - During January, the Company issued 7,67,900 equity shares at
 par
        on conversion of Part-A of Rs 60 each of 14,70,000-16%
 secured
        redeemable partly convertible debentures of Rs 150 each
 through
        a letter of offer.  Another 20,27,904 equity shares at par
 were
        issued through prospectus of which 15,073 shares were kept in
        abeyance.
 
      - 1,44,196 equity shares of Rs 10 each (prem. Rs 20 per share)
 were
        allotted on conversion of Part-A of PCDs on 5.11.1993 in the
        ratio of 1:2.  Again, 2,82,501 equity shares of Rs 10 each
 (prem.
        Rs. 20 per share) were issued in exchange of the Tradeable
        Warrants issued by the Company with its rights and public
 issues
        of PCDs in 1993, in the ratio of 1:1 on 7.7.1994.  Another
        4,50,000 equity shares of Rs 10 each were allotted to the
        promoters of the Company.  15,073 shares kept in abeyance
 were
        issued during the year.
 
 1995 - The Erode unit handled only 4.1 lakh tonnes of cane due to
 the
        illegal strike of employees by over a month.
 
      - The volume of crushing of the Bargarh Unit was increased to
 1.31
        lakhs.  However, the unit could not draw comfort from such
        higher level of crushing due to the erractic behavior of
 plant
        and equipment which disrupted smooth production operations.
 
      - The Cane Crushing of Balangir Unit crossed 1 lakh tonnes.
 
 1996 - The Erode unit handled an all-time record high of 5.15 lakh
        tonnes of cane as compared to 4.1 lakh tonnes of cane handled
 in
        the previous year.
 
      - The volume of crushing of the unit increased to 1.42 lakh
 tonnes
        from 1.31 lakh tonnes in the previous year.  Debottlenecking
        measures undertaken during the year helped the Bargarh unit
        to improve its recovery level.
 
      - The Balangir Unit handled 1.59 lakh tonnes of cane compared
 to
        1.02 lakh tonnes in the previous year.
 
 2003
 
 -Debenture Holders approve One Time Settlement of dues
 
 - Mr. N Ramanathan has resigned from the directorship of the Company
 
 -At the EGM of the members of Ponni Sugars Orissa Ltd held on
 December 23, 2003 members present of the Company unanimously passed
 the Special Resolution for the winding up of the Company.
स्रोत: रेलीगरे टेचनोवा

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