वशिष्ठि डिटर्जेंट > कंपनी इतिहास > Detergents > कंपनी इतिहास का वशिष्ठि डिटर्जेंट - बीएसई: 523634, NSE: TATAVASHIS

वशिष्ठि डिटर्जेंट

बीएसई: 523634  |  NSE: TATAVASHIS  |  ISIN: INE330A01013  |  Detergents

कंपनी इतिहास - वशिष्ठि डिटर्जेंट
Vashisti Detergents Ltd. was originally incorporated as Tata Vashisti
 Detergents Ltd. on 11th January, 1988. The Company was promoted by
 the erstwhile TOMCO and MPCL, a Maharashtra Government undertaking
 manufacture soaps, toiletries, Detergents cakes and powders, Fatty
 Acid, Glycerine, Linear Alkyl Benzene Sulphonates and Alpha Olefin
 Sulphonate. The Company obtained a certificate of commencement of
 business on 10th March, 1988.
 The Company envisaged the above project to cost a total of Rs.60.30
 crore including a provision of Rs.4 crore towards working capital.
 Delay in the project execution and commissioning led to a higher
 total cost of the project at Rs.72.30 crore. The Company commenced
 commercial production of toilet soaps and detergent cakes in
 1993 and that of detergent powders and premium toilet soaps later
 during the same year. The marketing of the entire production of the
 Company was to be undertaken by TOMCO in the initial years. However
 TOMCO was itself facing severe competition as a result of which it
 was unable to provide marketing support to the Company.
 Under-utilisation of capacities alongwith high fixed costs and
 interest burden has caused the Company to suffer losses.
 Consequent to the amalgamation of TOMCO with HLL in December 1994,
 TOMCO's equity stake in the Company devolved on and vested in HLL
 on 23rd June, 1995, the Company's name was changed to Vashisti
 Detergents Ltd. The Company has since been manufacturing soaps,
 detergent bars and powders for HLL including reputed brands like
 Hamam, Rin & Surf. This has helped the Company to improve capacity
 utilisation. Facilities for Distilled Fatty acid manufacture have
 also been commissioned. The sulphonation plant is currently under
 extended trials.
 The Company's fixed costs however have been high due to high cost of
 debt and depreciation burden. Besides the Company faced a three and
 half month long strike by the workmen at its factory during March to
 June 1995. As on 30/9/95 the Company's accumulated losses exceeded
 its net worth. The Company has since made the mandatory reference to
 the BIFR which has not been registered so far.
 The Company has not sought intervention from BIFR but has formulated
 an internal revival scheme (set out later in the Project details
 which is planned to be implemented with the help of HLL - the
 promoters, Financial institutions and the entire body of
 2000 - Crisil has upgraded the `AA+' rating assigned to the
        non-convertible debenture issue of the company from `AA'.
 -Vashisti Detergents Ltd. has informed that Mr. Raghunath have been
 appointed as Managing Director of the Company in place of Mr. V.
 Subramanian with effect from February 1, 2004.
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

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(August 06, 2018)

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