Asahi Songwon Colors Ltd

(ASAHISONG)

Asahi Songwon Colors Limited was originally incorporated on December 19 1990 as a private limited company called Lucky Laminates Private Limited in State of Gujarat. In the year 199596 the High Court of Gujarat approved the Scheme of Amalgamation of Asahi Dyechem Pvt. Ltd. On April 19 1996 the Company got converted into Public Company and on the same day Companys name was changed to Asahi Songwon Colors Limited.The Company is engaged in manufacturing export of color pigments and its derivatives and its manufacturing facility is located at Padra in the district of Vadodara Gujarat.The company has set up plant to manufacture Pigment Green 7 at Kadi Mehsana with an initial capacity of 180 TPA with total capital expenditure of Rs.40 million. The commercial production of this plant commenced in the year 1991. In the year 1995 96 the company has entered into a joint venture agreement with Songwon Color Company Limited SCCL South Korea with financial investment and supply of technology for manufacture of Green Crude. On entering the technical collaboration with SCCL ASCL installed a plant for manufacturing Green Crude at a total cost of about Rs.35 million which enhanced its installed capacity from 180 TPA to 600 TPA.Subsequently ASCL further expanded its installed capacity to 900 M.T in 2002 and to 1080 MT in the year 200506 with a capital expenditure of Rs. 35 million.May 2007 the company has entered into capital market. The company has issued 3722222 Equity shares to the public. Issue price is Rs.90/ per share.CPC Blue Crude and new facility to manufacture Beta Blue pigment was commissioned in March 2008.In 201415 the CPC Division of the Company was demerged and transferred into AksharChem India Limited through the Scheme of Arrangement for Demerger which became effective from December 2 2014. Consequent to the Scheme becoming effective shareholders of the Company were allotted 5 fully paid up equity shares of Rs 10 each of AksharChem India Limited for every 26 equity share held by them in the Company as on the record date i.e. February 3 2015. During the year 201617 promoters family trust Mrugesh Jaykrishna Family Trust 1 and Gokul M. Jaykrishna Family Trust made an open offer for acquisition of shares of the Company. Accordingly during the year 400000 3.26 equity shares held by Mrs. Paru M. Jaykrishna and 411766 3.36 equity shares held by Mr. Munjal M. Jaykrishna of the Company were transferred to Mrugesh Jaykrishna Family Trust 1 and 1505049 12.26 equity shares held by Mr. Gukul M. Jaykrishna and 1093283 8.91 equity shares held by Mr. Munjal M. Jaykrishna were transferred to Gokul M. Jaykrishna Family Trust through the direction of aforesaid SEBI order. Further Mrugesh Jaykrishna Family Trust 1 and Gokul M. Jaykrishna Family Trust has acquired 242991 1.98 and 125177 1.02 Equity Shares of the Company through the stock exchange respectively during the year. The total promoter shareholding of the Company was increased to 65.28 from 62.28. And as a result the name/status of the promoter company was changed from Intercon Finance Private Limited to Chelsea Marketing LLP.In 201718 promoters family trust Mrugesh Jaykrishna Family Trust 1 and Gokul M. Jaykrishna Family Trust has acquired 11000 0.09 and 5500 0.

Share Price: ₹431.85 per share as on 22 Oct, 2024 04:01 PM
Market Capitalisation: ₹527.48Cr as of today
Revenue: ₹134.28Cr as on June 2024 (Q2 24)
Net Profit: ₹4.38Cr as on June 2024 (Q2 24)
Listing date: 29 Aug, 2011
Chairperson Name: Paru M Jaykrishna