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Indo Rama Synthetics (India) Ltd logo

Indo Rama Synthetics (India) Ltd

NSE: INDORAMA BSE: 500207

₹34.63

(1.55%)

Thu, 12 Mar 2026, 09:03 am

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Company History

1986

  • The Company was incorporated on 28th April.
  • The Company obtained Certificate of Commencement of Business on 24th November.
  • The Company was promoted by Shri M. L. Lohia and Shri. A. P. Lohia.
  • The Company undertook to set up a spinning mill with a complement of 21,120 spindles to manufacture synthetic yarn.

1989

  • Necessary approvals were received for enhancing the existing capacity to 41,184 spindles.
  • The Company proposed to further expand its capacity by 25,000 spindles to manufacture cotton and synthetic blended yarn.
  • The Company proposed to set up a 100% Export Oriented Unit with a capacity of 24,960 spindles at Pithampur Industrial Area.
  • 7 No. of equity shares were subscribed for by the signatories to the Memorandum of Association.

1991

  • The Company commissioned 17,280 spindles.
  • The Company embarked on a backward integration project at Nagpur to manufacture Polyester Oriented Yarn.
  • The Company offered 10,45,410-14% secured redeemable partly convertible debentures of Rs 200 each for cash at par.

1992

  • The company commissioned 8,160 spindles in Unit II at Pithampur.
  • The Company proposed to further add 21,984 spindles at Pithampur unit.

1993

  • The Company offered 1,11,36,000 Zero Interest Fully Convertible Debentures of Rs 240 each on right basis to the existing shareholders.
  • Part `A' of Rs 60 of debenture was converted into one equity share at a premium of Rs 50 per share.

1994

  • The Company commissioned 44,208 spindles.
  • The Company successfully implemented backward integration plant of 67,000 MTPA at Nagpur.

1995

  • The Company proposed to put up a PTA plant with an installed capacity of 3,50,000 tonnes per annum.
  • The Company issued 43,975,380 Global Depositary Receipts at a price of US $ 11.37 per GDR.

1996

  • The Company raised its polymer capacity from 69,300 tonnes to 238000 tonnes per annum.
  • The Company finalised a technology tie-up with MFTSUI Petrochemical Industries Ltd. of Japan for the PTA project.
  • The Company proposed to integrate forward with the setting up of a weaving and processing unit.
  • 28,659,086 bonus shares were allotted in the ratio 1:2.

1997

  • The Company undertook to set up a PTA plant as a backward integration.
  • The Company entered into a joint venture with Mitsui Chemicals Inc. for technology transfer of PTA.
  • Indo Rama Synthetics has shut down one of its three poly condensation units at Butibori.
  • Indo-Rama Synthetics signed a $ 175 million syndicate loan facility in Singapore.
  • Indo Rama Synthetics won the Federation of Indian Export Organisation's Niryat Shree award.
  • Indo Rama Synthetics won the Commerce Ministry's National Export Award.
  • The Company proposed to open more marketing outlets in interior Tamil Nadu.
  • A memorandum of understanding was signed between Indo Rama and Itochu Corporation and Mitsui Petrochemicals for a joint venture agreement.

1998

  • Indo Rama will sign a shareholders agreement for its PTA project.
  • Indo Rama Synthetics announced plans to increase capacity of its Butibori plant.
  • INDO RAMA Synthetics (India) Ltd is to set up a PTA and polyester unit near Mangalore.
  • Indo Rama Synthetics proposed a restructuring plan.
  • Indo Rama changed the method of accounting interest on delayed payments.

1999

  • INDO Rama Synthetics (I) Ltd shut down two of its three polyester lines at its plant in Maharashtra.
  • The company shut down its third polycondensation line.

2000

  • The Company allotted equity shares to IFCI by way of conversion of Loan into equity.
  • Indo Rama appointed Mr. B Anantharaman as President and Chief Financial Officer.

2001

  • Indo Rama Synthetics (I) Ltd. received the Best Overall Export Performance award.
  • The Board of Indo Rama Synthetic Ltd. allotted equity shares to IFCI by way of conversion of loan into equity.
  • Indo Rama Synthetics appointed Accenture for implementation of customer relationship management and information technology.

2002

  • Indo Rama Synthetics signed a contract with Zimmer AG of Germany for the installation of a polyester staple fibre production unit.
  • Mr. Shailendar Tandon was appointed as the Chief Financial Officer of Indo Rama Synthetic.
  • Indo Rama appointed Mr. Rajiv Agarwal as the President and Chief Executive Officer of the Spinning Business.
  • Indo Rama increased its production capacity in several product categories.
  • Indo Rama received the SRTECP Special Award for Exemplary Export Performance.

2003

  • Indo Rama entered into an agreement with Pegasus Global Limited of Thailand to set up StartPet Inc.
  • Indo Rama appointed Mr. Udayan G Dravid as the senior Vice-president of the Marketing Segment.
  • IRSL received the National Safety Award for 2002-2003.
  • Indo Rama signed a tech pact with Zimmer AG for expansion.

2004

  • Indo Rama Synthetics signed a Share Purchase Agreement with Indo Pet Thailand.
  • The Company delisted from the Ahmedabad Stock Exchange.

2005

  • The Company delisted equity shares from the Calcutta Stock Exchange Association Ltd and the Madhya Pradesh Stock Exchange.

2009

  • Indo Rama Synthetics India Ltd appointed Dr. Arvind Pandalal as an Additional Director on the Board of Directors.

2010

  • The Company appointed Mr. Jayant Sood as Asst. Vice President & Company Secretary and Compliance Officer.

2011

  • Indo Rama Synthetics recommended a final dividend of Re. 1 per share on equity shares.

2012

  • Indo Rama Synthetics (India) signed an MoU with Indorama Ventures to build a PTA-PET-PSF Plant in India with an investment of US $700 million.
  • The Company appointed Mr. Ashok J Gupta as Executive Director and CEO.

2013

  • Indo Rama Synthetics (India) Ltd. received the National Energy Conservation Award.

2014

  • Indo Rama Synthetics recommended a dividend of Re. 1 per share on equity shares.

2016

  • Indo Rama inked an agreement with Tata Power Renewable Energy Limited to dispose of a 30 MW Wind Farm in Maharashtra.

2020

  • Indo Rama Synthetics (India) Limited resumed production at its Butibori Plant on June 9.

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