| Bajaj Hindusthan Limited (BHL) was incorporated on 23rd November, 1931 under the name - The Hindusthan Sugar Mills Limited - on the initiative of Jamnalal Bajaj - a businessman, confidante, disciple and adopted son of Mahatma Gandhi. He sought Gandhiji's blessings in this new venture, which, apart from being a sound commercial proposition would also meet a national need. Till then, there were barely thirty sugar factories in the country.
The site selected for the first plant was at Golagokarannath, district Lakhimpur Kheri in the Terai region of Uttar Pradesh (UP), an area rich in sugar cane. The original crushing capacity of the factory was 400 tons of cane per day (tcd). Subsequently, this capacity was increased in stages and is currently 13,000 tcd. The distillery Unit at this plant commenced production during the end of World War II in 1944. In the initial few years, the major output was in the form of power alcohol as an additive to petrol, which was then in short supply. The unit was the first to supply alcohol-mixed petrol to the army.
YEAR EVENTS
1931 - The Company was incorporated in 1931 at Mumbai. The Company
manufacture sugar and its allied products and cement.
1968 - In December, 48,000 `A' Pref. shares offered for public
subscription and 24,000 right equity shares offered at par
in the proportion 1:6.
1969 - 84,000 bonus equity shares issued in the proportion 1:3.
1972 - 84,000 bonus equity shares issued in the proportion 1:3.
1980 - The Cement factory at Udaipur started production from 26th March.
1982 - 1,12,000 bonus equity shares issued in prop. 1:3.
1985 - A sugar factory with 1,250 tonnes capacity per annum commenced
operation at Sampornanagar in the cane supply zone of Gola Palia
sugar factories. Due to the Government's policy of importing
sugar from foreign countries, free market prices remained
subdued.
- A stack reclaimer for uniform feeding of timertone and 2 diesel
sets of 4 MW each were installed during the year. It was
proposed to instal a X-Ray analyser and programmable logic
controller (PLC) for computerised quality control of cement.
- In order to meet part of the power requirements, additional
diesel sets of total 10 MW capacity was proposed to be installed.
- 1,12,000 bonus equity shares issued in prop. 1:4.
1986 - Government increased proportion of free sugar from 45% to 50%.
- The operations of Distillery unit continued to be affected
due to heavy duties levied by Government.
1987 - The working of cement unit was adversely affectd due to
depressed price realisation owing to over-supply of cement
coupled with steep increase in the cost of various inputs.
1988 - The name of the Company was changed from Hindustan Sugar Mills
Ltd. to Bajaj Hindustan Ltd. on 27th June.
1989 - The working of the Cement Division was not satisfactory due to
all round increase in input costs.
- During September/October, the company issued on rights basis
10,00,000-14% secured redeemable non-convertible debentures of Rs
100 each in proportion 9 debentures : 5 equity shares. All were
taken up.
1990 - The working of the cement division suffered due to delay in
stabilisation of the production process and labour problem.
- Construction Boards Ltd., is a subsidiary of the company.
1991 - With effect from 1st April, Sharda Sugar & Industries Ltd.
(SSIL) was amalgamated with the Company. As per the terms of the
scheme 1,46,246 equity shares of Rs 10 each of the Company were
allotted without payment in cash to members of SSIL in the ratio
of 2 equity sharers of the Company for every 5 shares held in
SSIL. This allotment was made in early 1991.
- Plant operations were completely suspended from 26th May to 18th
June 1991, and from 14th December, 1991 to the end of January
1992.
- The Company proposed to dispose of the cement unit in view of
liquidity crunch and to rationalise the operations of the
Company. The Company entered into Agreement for sale of its
current plant to S. K. Udaipur Udyog Ltd. (a company promoted by
Straw Products Ltd.) for Rs 147.50 crores.
- As per the terms of agreement 1,46,246 No. of equity shares were
allotted as fully paid-up to the erstwhile shareholders of SSIL.
- The Company held the entire share capital of 15,010 equity shares
of Rs 100 each (Rs. 85 paid-up) and 15 equity shares of Rs 100
each fully paid-up of Construction Boards, Ltd.
- In October/November, the Company issued 28,73,000 - 12.5% fully
convertible debentures of Rs 40 each at par to the equity
shareholders on rights basis in the proportion of 1 debenture : 2
equity shares held.
- The Company issued 14,25,000-14% non-convertible debentures of Rs
100 each at par to the shareholders on rights basis in the
proportion of 1 debenture : 4 equity shares held.
- Another 71,250-14% non-convertible debentures were issued to the
employees of the company.
- Only 2,809 debentures were taken up. The remaining 14,93,441
debentures devolved on the underwriters.
- The Company had on 23rd December, allotted 14,96,250 Secured
Redeemable Non Convertible Debentures of Rs. 100/- each
aggregating to Rs. 14,96,25,000 and 29,86,600 Fully Convertible
Debentures of Rs. 40/- each for an aggregate amount of Rs.
11,94,64,000.
1992 - Production of industrial alcohol was lower at 150 lakh litres
and 142 lakh litres respectively due to the partial control on
molasses imposed by the U. P. Government.
- 526 shallow borings were installed and 135 pump sets distributed,
resulting in additional increase of 5260 acres under irrigation.
- 21 India Mark II hand pumps were installed with assistance from
CAPART and the Jamnalal Bajaj Foundation making safe drinking
water facilities available to about 6300 villagers.
- 90 ordinary hand pumps were installed on 50% subsidy to benefit
about 900 villagers.
- Company was the first to set up a full-scale Primary Effluent
Treatment Plant way back in 1960.
- The Company has since installed a full-scape Primary and
Secondary Treatment Plants based on French technology for
separately treating sugar factory's effluent with significant
results.
1993 - The Company has signed the Agreement for Sale (Memorandum of
Understanding) on 10th June, and is likely to handover the
possession of the Cement Plant.
1994 - Production of industrial alcohol continued to decline to 65
lakh litres and 38 lakh litres respectively due to the
unfavourable policies of the government.
1995 - 29,86,600 equity shares issued on conversion of 12.5% fully
convertible debenture of Rs 40 each of which 28,73,000 shares and
1,13,600 shares now allotted to the shareholders and employees
respectively.
- The Company has received a Letter of Intent from Central
Government for installation of a new sugar plant at Shardanagar,
Lakshimpur, Dist. Kheri, U.P. with a capacity of 2500 TCD.
1996 - The Company Installed one No. Falling Film Evaporator body of
3000 sq.m. heating surface to work as second body of D E V C to
result in steam economy at evaporator station.
- The Company Installed one No. Evaporator body of 1600 sq.m.
heating surface and configuration of evaporator is made such that
the plant can run continuously without periodical shut-downs for
cleaning.
1997 - The project of upgradation of the boiler and power stations at
Palia has been commissioned in February.
- Indian Institute of Sugarcane Research also established
collaborative varietal selection trials at Company's research
farm to identify appropriate varieties developed by them for
cultivation in the area.
- Company's research-cum-demonstration farm bagged 2nd highest
sugarcane yield prize in the State with 189 Ton yield/Ha.
- During the year, the free market sugar price constantly remained
under pressure due to heavy sugar stocks which have also resulted
in higher burden of interest on the Company.
- Necessary modifications in the system have been done and energy
efficient Condensors have been installed for economy in use of
energy.
- Multistage Turbo Generator Set of 3 MW have been installed.
- Installation of One No. 120 tons per strike capacity pan for 'C'
massecuite boiling was commissioned.
1998 - Dumping of sugar by countries like Pakistan, Brazil and a few
others at cheaper rates have affected the domestic industry.
- Launched the Minikit scheme under which 200 saplings of early
varieties were given to farmers for multiplying their own seed
for next crop planting.
- The company treated 704 tonnes of sugarcane seed by Moist Hot Air
Method and distributed 5643 Danti and Palkati and installed 1350
borrings and subsidised 290 D/Engines under irrigation scheme to
cover about 5000 Ha area.
- One Dynamic Steam swept Semikestner rising film evaporator body
of 3000 mw H.S. has been installed to improve evaporation in the
Double effect and Quad system.
- One new low head centre steam entry design pan of 120 ton strike
capacity is commissioned. Two Nos. Continuous Centrifugal have
also been added.
1999 - During the year its Golagokarannath plant started crushing on
November 22, 1998, and achieved installed capacity of 9000 TCD,
while its Paliakalan plant started crushing on November 30,
1998, with an installed capacity of 7000 TCD.
- The Gola and Palia units have introduced the early and high
sugarcane varieties as available to the extent of 20% and 10%
respectively.
- The Company has entered into an Agreement with National
Securities Depository Limited (`NSDL') to enable investors to
hold and trade in Company's shares in electronic form with effect
from 15.2.1999.
- During the year heavy floods occurred in Gola and Palia areas
affecting about 30,000 dwellers.
- During the year Company also joined hands with Family Planning
Association of India wherein a Project office is opened at Gola
with necessary infrastructure.
- Biomethanation plant of 750 M3 capacity per day has been
installed and commissioned to treat the spent wash of the
distillery.
2002
-Bajaj group increases its stake by acquiring 9.5% stake from UTI for Rs 7.9 crore
-Bachhraj & Co. Pvt. Ltd. has acquired 4,50,000 shares amounting to 5.153% and the shareholding after acquisition is 34,69,625 shares amounting to 39.730%. Jamnalal Sons Pvt. Ltd. has acquired 4,21,559 shares amounting to 4.827% and the shareholding after acquisition is 5,19,359 shares amounting to 5.946%. The combined total (for promoter group as a whole) are holding 8,71,559 shares amounting to 9.980% and the shareholding after acquisition is 39,88,984 shares amounting to 45.677%. The mode of acquistion is through off-market purchases on August 19, 2002
2003
-Bajaj Hindusthan Ltd has informed that the Board of Directors of the Company at its meeting held on June 19, 2003 re-appointed Shri. Shishir Bajaj as a Managing Director for a period of 5 years w.e.f. July 1, 2003.
-Acquires 5,000-tcd plant of Monnet Sugar in UP
-First unit to crush 20 million quintals of cane during the drought year 2002-03
-Achieved record profit of Rs. 283.51 million in FY 2003
2004
-Overtakes Balrampur Chini Mills to become the most profitable sugar company in the country
-Bajaj Hindustan ties up term loans worth Rs 400 cr with SBI.
-Bajaj Hindustan to acquire 24 UP sugar mills
-New 7,000 TCD plant near Meerut commenced operations in November 2004
2005
-Bajaj Hindusthan raises US$ 100 mn through GDRs & FCCBs
-Bajaj Hindusthan acquires Pratappur Sugar & Industries
-Bajaj Hindusthan commissions three new sugar plants
2006
-Bajaj Hindusthan sets up 100% subsidiary to manufacture Medium Density Fibre and Particle Boards
-Bajaj Hindusthan's achieves 180% increases in Net Profit
-Bajaj Hindusthan raises US $ 255.604 mn through GDRs and FCCBs
2007
-Bajaj Hindusthan Ltd has Appointed Mr. Kushagra Bajaj as Joint Managing Director of the Company for a period of 5 years w.e.f. April 24, 2007.
-Bajaj Hindusthan Ltd has appointed Mr. Kausik Adhikari, Asst. Company Secretary as Compliance Officer of the Company with effect from August 01, 2007.
2008
-Bajaj Hind to enter infrastructure sector
2009
- Bajaj Hindusthan Ltd has informed that the Board of Directors of the Company at its meeting held on March 12, 2009, has appointed Dr. Sanjeev Kumar, as a Whole-time Director on the Board of the Company with effect from March 12, 2009.
2010
-MOU signed between Government of Uttar Pradesh and Bajaj Hindusthan Ltd. for 1980 MW power project.
-MOU signed between Government of Uttar Pradesh and Bajaj Hindusthan Ltd. for another 1980 MW thermal power project in Bargarh area of Chitrakoot District.
2011
-Bajaj Hindstn - Board recommended Dividend of Rs 0.40 i.e (40%)
-Bajaj Hindustan Ltd Issues Rights in the Ratio of 2:1
2012
-Kushagra Bajaj embarks on a power play.
-BajajHindstn - Board recommends Dividend of Rs 0.10 i.e (10%)
2013
-Bajaj Hindustan elects Kushagra Bajaj as CMD
2014
-The Registered office of the company has been shifted from old address to Golagokarannath, Lakhimpur-Kheri, District Kheri, Uttar Pradesh - 262802.
2015
-The company has changed its name from Bajaj Hindusthan Ltd to 'Bajaj Hindusthan Sugars Ltd.'
2023
-Bajaj Hindusthan Sugar Limited has acquired 98.01 % shareholding of Phenil Sugars Limited
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