YEAR EVENTS 1940 - The Company was incorporated at Ghaziabad. The main object of the Company manufactures vegetable oil products and paper. The company's products are sold under the trade names "GOLDEN ARROW", "RAJHANS" and "COTEX". - 1,20,000 Right Pref. shares issued at a premium of Rs. 2 per share during 1943-44. 1944 - 3,60,000 Right Equity shares issued (Prem. of Rs. 2.50 per share). 72,500 No. of Equity shares issued to Amrit Chemicals Ltd. and Amrit Perfumers, Ltd. without payment in cash in 1945-46. 1946 - 3,96,250 Right Pref. shares issued. Only 2,45,000 shares were taken up. 1966 - Deferred shares converted into Equity shares in the proportion of 10 Deferred to 1 Equity. 1972 - Authorised capital reclassified. 1,35,625 Bonus Equity shares issued in the proportion 1:4. 1974 - The company started Engineering division to fabricate plant and machinery for vanaspati, refined oil, solvent extracted oil and other minor items. 1979 - The Company holds all the 36,000 No. of equity shares issued by the New Prahalad Mills Ltd., Mumbai. The name of this subsidiary was changed to Amrit International Ltd., with effect from 19th March. - 6,78,125 bonus equity shares in the prop. 1:1. 1981 - Paper Unit Production was started in June. Two of the coal fired boilers were converted into rice husk fired boilers. - 7,18,000 No. of Equity shares allotted to financial institutions at par on conversion of loans (1,20,000 shares to IFCI and 3,00,000 shares to IDBI on 1.3.1982; 1,50,000 shares to ICICI on 1.4.1982; 60,000 shares to GIC and its subsidiaries on 26.3.1982 and 88,000 shares to LIC on 5.5.82). Interest rate on 8.5% Pref. `C' increased to 11% with effect from 1.7.1982. 1984 - Production further improved. A new generating set of 1450 KVA was installed to meet the shortfall in power supply. - The Company undertook to expand its capacity from 10,000 TPA to 24,000 TPA 1985 - The cost of production further went up due to an order of the Government to the industry to have their entire production tested by ISI. - The paper production went up despite strike by workers for about one month and stiff competition from small and large scale units which resulted in a fall in the prices of finished products. 1986 - Due to judicious changes in the oil purchase policy of the company, the profitability of the units was well protected. - The paper unit suffered a setback due to increase in cost of inputs and depressed market conditions. 1987 - The working of the both the vanaspati units was satisfactory despite a further rise in oil prices. The Government increased the quota of imported oil to vanaspati industry to 70% with effect from 1st April, which improved the availability of raw material. - The conditions in the paper market were encouraging and the offtake of paper and its prices improved. - The Company privately placed 14% secured non-convertible debentures to the extent of Rs. 2.5 crores with LIC, UTI and Army Group of Insurance Directorate to meet the growing requirements of working capital. 1989 - The overall performance showed marked improvement which was reflected in growth of turnover by 17% over the previous year. The performance of both the vanaspati units was satisfactory despite highly uncertain and difficult trading conditions and severe pressure on margins. - 207,42,500 Bonus shares in the proportion 1:1. 1990 - Production of vanaspati and refined oil declined due to disturbed law and order situation in the North and North Eastern part of the country, frequent policy changes leading to uncertainty about raw material supply, and suspension of operations at the Ghaziabad factory for about two months for undertaking major repairs in plant and machinery. 1991 - Production and profitability declined on account of steep decline in sales realisation of paper, unprecedented hike in power tariff, strike at the Rajpura Vanaspati Unit and escalation in input costs due to inflation and increased interest rates. - Performance of the paper unit would have been still better but for the sharp decline in sales realisation and rising cost of inputs. - Amrit Protein Foods Ltd. (APFL) was Omalgamated with the Company from 30th September. As per the Scheme of Amalgamation 2,75,472 No. of equity shares of Rs. 10 each of the Company were allotted as fully paid-up to the shareholders of erstwhile APFL in the proportion of one equity share of the company for every 13 equity shares held in APFL and 1 equity share of the company for every cumulative convertible preference share of Rs. 100 each held in the company. 1993 - `Ginni Gold' refined sunflower oil, `Ginni' and `Banasari' performed well and Merrigold the table margarine introduced in the previous year was extended rationally during the year. - The production and sales of paper were 25,186 tonnes and 26,227 tonnes as against previous years 26,190 tonnes and 25,098 tonnes. Recession in the paper industry led to lower offtake. The company was able to establish its `Gagan' UHT dairy milk in the market. - Modernisation and upgradation of pulping process from single stage to multistage was completed during the year. - A pilot plant for chemical recovery from black liquor of agro based pulping process was set up to recover caustic and recycle the same. The Research programme under the name of style "Shri Tulsi Prasad Khaitan Oil Seeds Research Programme" launched for research work on cultivation of tree engin oilseeds made satisfactory progress. - 44,23,972 Rights equity shares issued (Prem. Rs. 4; Prop. 1:1 (all were taken up). 2,21,198 No. of equity shares offered to employees at a premium of Rs. 4 per share on equitable basis (all were taken up). 2003 Outcome of AGM 1. Delisting of shares from Delhi, Ahmedabad and Ludhiana Stock Exchanges 2. Increase in Authorised Capital to Rs 250 million 3. Appointment of Shri J K Khaitan as Managing Director for a period of 5 years w.e.f. September 29, 2003. 2004 -Company de-registrated from BIFR -Amrit Foods unveils 'Gagan' U.H.T milk in Mumbai 2005 -Amrit Food rolls out premium diet milk 2007 - Company name has been changed from Amrit Banaspati Company Ltd to Amrit Corp. Ltd. 2012 - "Bunge Completes Acquisition of Amrit Banaspati's Edible Oils and Fats Business". 2013 -Amrit Corp Ltd has recommended dividend @ Rs. 4.00 per Equity share of Rs. 10/- each (i.e. 40%) for the year. 2014 -Amrit Corp Ltd has ecommended dividend @ Rs. 5/- per Equity Share of Rs. 10/- each (i.e. 50%) for the year ended.