Borax Morarji Ltd. Company History and Annual Growth Details

YEAR EVENTS
1963 - Borax Morarji Limited was incorporated on August 27, at Mumbai.
It was promoted jointly by The Dharamsi Morarji Chemical Co. Ltd.
Mumbai. The Main Object of the Company is to Manufacture and
deal in borax and boric acid, their derivatives, by-products and
compounds.

- The Company entered into a collaboration with Borax (Holdings)
Ltd. England, for the supply of technical know-how etc., for the
manufacture of borax and boric acid.

1964 - 20 shares subscribed for by signatories to Memorandum. Allotted
26,991 shares to Borax (Holdings), Ltd., U.K. and 14,998 shares
to Dharamsi Morarji Chemical Co., Ltd. 17,991 shares offered to
the public in January.

1970 - 20,000 Bonus equity shares issued in prop. 1:3.

1975 - 26,666 Bonus equity shares issued in prop. 1:3.

1983 - Shares of Rs 50 each split into shares of Rs 10 each.

1986 - It was proposed to increase the licensed capacity of boric acid
by 867 tonnes per annum under the Govt.'s Re-endorsement of
Licensed Capacity Scheme.

- Land, buildings and plant and machinery of the Company were
revalued as on 31st March.

- 5,33,330 Bonus equity shares issued and allotted at par in the
ratio 1:1.

1989 - 5,33,330 Bonus equity shares issued and allotted at par in the
ratio 2:1.

1990 - During June/July, 7,99,995 Rights equity shares offered (prem. Rs
10 per share; prop. 1:2). (all were taken up). Simultaneously
another 40,000 shares (prem. Rs 10 per share) issued to employees
under Stock Option Scheme (only 10,520 shares taken) unsubscribed
29,480 shares allowed to lapse.

1992 - The margins were adversely affected due to allround increase in
cost of production. The Boron division was adversely affected on
account of the recessionary condition of the consumer industries
using borax.

- The Company undertook to set up a 100% EOU for manufacture of
brush/rooms block at Shenbagaraman Puthur.

1993 - The Company proposed to explore the possibilities to enter into
business of import, manufacture and/or distribution/marketing of
LPG, including acquiring mining rights, drilling operations and
acting as dealers, transporters etc. Also, it was proposed to
generate electricity with the help of conventional and
non-conventional sources of energy such as wind, solar energy
etc.

1995 - A 'Registered User' agreement was entered into with Borax
Consolidated Ltd., London, for permission to market the company's
product under the trade mark '20 Mule Team'.

- The Company had indentified a project for manufacturing
chemically treated rubberwood 'BOROTIK' and a chemical
formulation 'INJECTA'.

- The Company identified a new product 'Vinyl Sulphone' used for
the manufacture of reactive dyes. Approval to set up a plant
with a capacity of 1000 tonnes of Vinyl Sulphone per annum was
received from the Ministry of Industry. The Company also
proposed to produce Wooden Flooring from Borotik to give one more
value added item for export.

- 6,02,627 right equity shares allotted at a premium of Rs 20/- per
share in ratio of 1:4.
2009

- Borax Morarji Ltd has re-appointed Mr. H T Kapadia, whose term as Managing Director of the Company expired on March 31, 2009, as the Managing Director of the Company for a period of 1 (one) year from April 01, 2009 by the Board at its meeting held on March 30, 2009.

- Borax Morarji Ltd has appointed Miss Mitika L. Goculdas as additional Director at the meeting held on December 02, 2009.

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