YEAR EVENTS 1986 - Manali Petrochemicals Ltd. was incorporated on 11th June, in Tamil Nadu as a public limited company and obtained a Certificate for Commencement of Business on 2nd July. It was promoted by M/s. South Petrochemical Industries Corporation Limited (SPIC). - The main object of the Company is to manufacture Propylene Oxide/Propylene Glycol (PO/PG) and Polyols (Petrochemicals) used as industrial raw materials. - The Company entered into an agreement with TECHNIP France who are providing technology of ATO CHEM of France for the manufacture of propylene oxide and propylene glycol and that of ARCO Chemical Co. of U.S.A. for the manufacture of polyols. - As per the agreement, TECHNIP was to provide licence, basic engineering and man-power services and assistance in importing plant and machinery through TECHNIP for PO/PG project. It was also to provide licence, know-how and technical consultancy and manpower services for polyol project. - Another agreement was signed with ARCO Chemical Co. of USA for providing technical consultancy in the application and testing of polyurethane foams and for development of new applications. - Polyols are used along with Isocyanate (MDI or TDI, depending on the application) in the manufacture of polyurethane, which is an engineering plastic requiring considerable amount of technical services. The Company launched a seed marketing programme by import of Polyol, MDI and TDI. - The flexible grade poyol was marketed under the brand name EMPEYOL F 3000 meant for slab stock application despite huge imports. The rigid grade plyol was marketed as components, namely, polyol of required grade and quantity meant for specific use and required quantity of Isocyanates imported by the Company. 1991 - The Company launched three more products for the slab-stock industry, viz., empeyol F-3002, empeyol F-3502 and empeyol F-4002. - 43 shares subscribed for by the signatories to the Memorandum of Association. 323,99,957 shares were then issued at par out of which the following shares were reserved and allotted: - (i) 103,99,957 shares to promoters, directors, etc., and SPIC, - (ii) 10,00,000 shares to India Investment Fund on repatriation basis, - (iii) 50,00,000 shares to shareholders of SPIC, - (iv) 20,00,000 shares to UTI, - (v) 5,00,000 shares to LIC, - (vi) 5,00,000 shares to GIC and its subsidiaries, - (vii) 15,00,000 shares to SBI Mutual Fund, - (viii) 5,00,000 shares to Canbank Mutual Fund. - Out of the remaining 110,00,000 shares, the following shares were reserved for preferential allotment: - (i) 16,20,000 shares to employees (including Indian working directors)/workers of the company (only 6,14,000 shares taken up) and - (ii) 20,00,000 shares to NRIs on repatriation basis. (all were taken up). - The balance 73,80,000 shares along with the 10,05,900 shares not taken up by employees were offered for public subscription during January-February 1990. - Additional 48,60,000 shares were allotted to retain oversubscription (7,50,000 shares to shareholders of SPIC, 3,00,000 shares to NRIs on repatriation basis, 17,10,000 shares to promoters, directors, etc., and SPIC and 21,00,000 shares to the public. 1993 - The Company's R&D wing was engaged in developing CFC free flexible moulded polyurethane systems for use in auto mobile sector. - The Company made an application for a letter of intent for the manufacture of MDI/TDI. - The Company got approval for re-endorsement of capacities under minimum economic scale size for the manufacture of 25,000 tpa of propylene glycol. - During Jan.-Feb. 1,86,25,350 the company issued equity shares of Rs 10 each at a premium of Rs 5 per share to the existing shareholders of the Company on rights basis in prop. 1:2. (186,16,100 shares) and balance 9,250 shares were to be allotted on private plant basis. - Another 70,200 shares were reserved for the employees of the Company and of the promoter, viz., SPIC, on preferential basis. (only 40,700 shares taken up). - Subject to necessary approvals being obtained, the Company proposed to privately place 8,00,000-14% secured non-convertible debentures of Rs 100 each with financial institutions and mutual funds. 2000 - The Company approved the merger of Spic Organics Ltd with the company. - Manali Petro Ltd. and Spic Organics Ltd. have fixed one share of MPL for every share of SORL as the swap ratio. - The Board of Directors of the company has approved, subject to necessary approvals, scheme of amalgamation of SPIC Organics Ltd. with the company. One equity share of the company will be allotted for every one equity share of SOL held. 2006 -Company has splits its Face value of Shares from Rs 10 to Rs 5 2007 -Manali Petrochemical Ltd has recommended a dividend @ 10% (Rupees 0.50 per Equity Share of Rs 5/ each) -Mr. G. S. Lakshmi Narasimhan has been appointed as Company Secretary as well as Compliance Officer of the company 2008 -Manali Petrochemical Ltd has recommended a dividend @ 10% (Rupees 0.50 per Equity Share of Rs 5/ each) 2009 -Manali Petrochemical Ltd has recommended a dividend @ 5% (five percent) (Rs 0.25 per Equity share of Rs 5/- each) -Shri Ashwin C Muthiah has been appointed as the Chairman of the company 2010 -Manali Petrochemical Ltd has recommended a dividend @ 7.5% (Rs. 0.375) per Equity share -Mr.R.Kothandaraman has been appointed as the Company Secretary of the Company 2011 -Mr. Muthukrishnan Ravi has been appointed as the Managing Director of the Company -Manali Petrochemical Ltd has recommended a dividend of 50 paise per equity share of Rs. 5/- each, fully paid-up, (10%) 2012 -Manali Petrochemical Ltd has recommended a dividend of 60 paise per equity share of Rs. 5/- each, fully paid-up (12%). 2013 -Manali Petrochemicals has recommended a dividend of 50 paise per equity share of Rs. 5/- each. 2014 -Manali Petrochemicals has recommended a dividend of 50 paise per equity share of Rs. 5/- each. 2015 -MPL to expand capacity to meet demand for polyols 2016 -Manali Petrochem completes acquisition of UK-based Notedome. -Manali Petrochemicals commences operation of Plant 1. 2018 -"Launch of Notedome Products in India". 2021 -Manali Petrochemicals partners with Econic for production of CO2 containing polyols. -Manali Petrochemicals and Econic Technologies have entered into a Memorandum of Understanding for introducing a more environment friendly, CO2 containing polyols, into the $28 billion global polyols market. -MPL to partner with Econic, UK for new polyol technology 2022 - Manali Petro gets environmental clearance for propylene glycol capacity expansion -Manali Petrochemicals buys UK's specialty chemical producer Penn Globe for 21 Million pounds -Manali Petro to set up new entity in Germany to expand UK arm operations.