Futura Polyesters Ltd

Key Stats

Day's Price Range
52-Week Price Range

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

Rank 113
Rank 114
Rank 81
Dividend Yield
Rank 41
Rank 196
Price To Book Ratio
Debt To Asset
Rank 46

Company Information

Futura Polyesters Ltd.formerly Indian Organic Chemicals Ltd is into manufacture of Speciality Fine Chemicals and Polyesters. The company was promoted by B M Ghia and D S Dalal as a public limited company in Feb.60.The Chemical division of the company manufactures Alcohol based cheimicals like acetic acid acetic anhydride acetaldehyde benzyl products plasticisers and glyoxal from its plant at Khopoli Maharashtra.The Polyester division has manufacturing facility at Manali near Chennai in Tamilnadu. The main products of this division is PSF and PFY and PET Resins. The PET resin business of the company owns an export oriented unit enagaged in PET resins exporting mainly to USA and Eastern Europe. The PET preforms business of the company caters mainly to carbonated beverage segment.The company is undertaking an major restructuring exercise which envisages spinning off the Chemical division of the company into a separate subsidiary viz. Innovasynth Technologies India Ltd w.e.f. Jan 1 2004. This is subject to necessary approvals.IOCL made a Rs 26.25cr rights issue in Mar.92 of 15 PCDs to partfinance its project for phenyl glycine and its derivatives in Khopoli Maharashtra at an estimated cost of Rs 24.43 cr and also to meet the normal capital expenditure. The company has completed its project of para hydroxy phenyl glycine its dane salt with positive results during 199697.A contract signed with CIBA Speciality Chemicals during 2000 for manufacture of speciality chemicals has started the operations and is progressing smoothly. The company is planning to absorb new technologies for their Chemicals Division like Pharma intermediates Aroma Chemicals etc. The company has identified nucleoside chemistry an important area to concentrate on by supplying products to Research Based companies in the US and Europe.IOCL along with Pepsi Foods floated a joint venture Futura Polymers to set up a Rs 75cr plant to produce polyester resin used in the manufacture of PET bottles. The project was set up as a 100 EOU and commenced operations in 199495. The capacities of PET resin would be increased from 28000 MT to 62000 MT p.a in 200102.During 199899 the company acquired Transmere Inc. Mauritius from PepsiCo and subsequently amalgamated it with the Company.The company has decided to spin off the Chemical Division at Khopoli to a separate company as on going business and amalgmation of Futura Polymers Ltd. Chennai 100 subsidiary of the company with the company. The companys chemical division was taken over by Innovasynth TechnologiesIndia Ltd. The amalgamation between Futura Polymers and the company was approved with effect from 1st April2002. IOCL also has a software division Sonata. It plans to set up a joint venture with equity participation to market software and digitising services in the US which will provide a marketing base to Sonata.
OrganisationFutura Polyesters Ltd