- Best Minerals Ltd., is a wholly owned subsidiary of the company.

1956 - 250 No. of equity shares issued without payment in cash. 1000 Pref. and 23,100 No. of Equity shares taken up by promoters etc. 9,000 Pref. and 16,650 No. of equity shares offered at par to the public in September.

1964 - The company undertook to implement the licence in hand for manufacture of low carbon ferro-manganese and carbon ferro-chrome.

1966 - The company entered into an agreement with Elektrokemisk A/s. Oslo, Norway and A.B. Electro-Invest of Sweden for supply of plant and machinery and for the required technical know-how to be supplied to the company by Wagons of Sweden, one of the leading manufacturers of low carbon ferro-chrome tin in the world.

1969 - The slag furnace was also commissioned for the manufacture of low carbon ferro-chrome.

1977 - 1,19,695 Bonus Equity shares issued in prop. 1:1.

1978 - The company had taken on leave an licence the mini-steel plant of Vidarbha Iron & Steel Corporation, Ltd., from 3rd October.

1980 - Early in the Company issued 75,000-11% non-convertible debentures of Rs. 100 each as rights in the proportion of 2 debentures for every 7 equity shares held. Only 59,901 debentures for Rs. 59,90,100 were taken up. The funds thus raised were to be utilised exclusively for working capital purposes.

- 200 forfeited shares reissued to the company's employees (prem. Rs. 60 per share) in April. 1,19,795 bonus No. of equity shares allotted in October in prop. 1:2.

1981 - In September, the company set up a wholly indigenous 16 MVA furnace at its works at Shreeramnagar for production of various ferro alloys.

- During November, the company offered 3,00,000-13 1/2% convertible bonds of Rs. 250 each for cash at par. Out of this, bonds reserved for preferential allotment were (i) 10,000 bonds to the employees, directors and business associates of the company.

- (ii) 60,000 bonds to non-resident Indians and persons of Indian origin resident abroad, and investors from Oil Exporting Developing Countries with repatriation rights and

- (iii) 30,000 bonds to the existing equity shareholders of the company.

- Each bond carries an option to get redeemed Rs. 140 per bond within a period of 3 months from the expiry of 3 years from the date of allotment and in lieu of such amount get allotted one equity share of Rs. 100 each of the company at a premium of Rs. 40 per share.

- The bonds carry interest at the rate of 13 1/2% per annum with an additional 1% in any financial year if the dividend on the equity shares in the immediately preceding financial year is 15% or more.

- The repayment will be made at the rate of Rs. 25, Rs. 25, Rs. 25, and Rs. 35 at the end of the 7th, 8th, 9th and 10th years respectively from the date of allotment of bonds.

- When the option to receive equity shares is not exercised, the repayment will be made at the rate of Rs. 60, Rs. 60, Rs. 60 and Rs. 70 at the end of 7th, 8th, 9th and 10 years respectively from the date of allotment of the bond.

1982 - The rate of interest was raised to 12% with effect from 1st January.

- 25,000 - 9 1/2% II Pref. shares redeemed on 30th November.

1983 - The company's manganese ore sinter pilot plant at Shreeramnagar was inaugurated in August.

- During March, the company set up a 100% EOU unit in Orissa for the manufacture of 50,000 tonnes of charge chrome per annum. Two weeks after the plant was commissioned, Orissa Electricity Board imposed a 90% power cut and consequently the plant had to be shut down. The plant was restarted in July.

- In order to augment the long-term resources for working capital requirements, the company issued in September, 6,00,000-15% secured non-convertible debentures of Rs. 100 each as rights to the resident Indian equity shareholders and to holders of 11% rights mortgage debentures.

1984 - The chrome ore beneficiation plant was commissioned in March. The agglomeration plant for making briquettes was commissioned in November.

- The secondary steel making unit and new reheating furnace in the rolling mill were commissioned.

- 1,92,877 No. of equity shares issued (prem. Rs. 40 per share) on conversion of 13 1/2% bonds (1,91,217 shares and 1,660 shares in 1985-86).

1985 - The gas cleaning plant in February.

1986 - The metallic recovery plant was commissioned in September.

- A 24" rolling mill and 8.5" radius bloom caster were being installed to improve the unit's working. In May the induction furnace was commissioned.

- All the III Pref. shares redeemed on 30th December.

1987 - The company diverted its production activity to the manufacture of high-value products in view of the heavy reduction in power supply necessitating reduction in production of silico manganese, ferro silicon etc.

1989 - However, the profitability was adversely affected mainly due to erratic power supply, general increase in the costs of power, labour and raw materials and stiff competition.

1990 - In the ferro alloys division, the furnace lost 8160 hrs of power supply due to power cuts and load shedding. In addition, the fourth furnace was closed from December to March 1991 due to break - down of transformer.

- Due to relining of the furnace which was taken up after 7 years of operation. Severe load sheddings and frequent power trippings also lead to unsatisfactory performance. - A captive power plant with a capacity of 21 MW was being set up.

- The Vacuum Degassing and Vacuum Oxygen Decarburization facilities in the steel melting shop were commissioned.

- 27,61,310 No. of equity shares of Rs. 10 each offered as rights (prem. Rs. 40 per share; in prop. 5 shares for each share of Rs. 100) 4,11,353 additional shares allotted to retain oversubscription. Existing shares of Rs. 100 subdivided on 20th February. Another 1,38,060 shares of Rs. 10 each offered to the employees (prem. Rs. 40 per share) but only 39,300 shares taken up. Allotment of 2,842 shares pending.

1991 - Despite these favourable results, the overall working resulted in losses due to reasons such as hike in cost of production of ferro manganese, ferro chrome etc., and power cut to the extent of 50%. Moreover, closure of furnace No. 1 for about 2 1/2 months, furnace No. 4 for a month for repair and maintenance work and closure of furnace No. 2 by virtue of transformer failure etc., added to the problems.

1992 - With the installation of captive power plants in the factories both at Shreeramnagar in A.P. and at Randia in Orissa, the chronic power problem shortage has been mitigated.

- The rolling mill had rolled sections of 160 mm dia first time and 125 mm dia for the seamless applications.

1993 - The company suffered loss due to severe competition both in the domestic and international markets, lower realisation and heavy burden of interest charges.

- 52,40,750 Rights equity shares issued (prop. 3:5; prem. Rs. 25) of these 8,974 shares kept in abeyance.

1994 - The agreement was made between the company and Vidarbha Iron & Steel Corporation.

- In terms of the rehabilitation package, the company issued Rs. 34 crores zero interest debentures to the financial institutions redeemable in 4 quarterly instalments commencing from 15.5.1996. The option for conversion into equity shares of the company at par to be exercised on or before 31.12.1996.

1995 - Despite power cuts, load shedding and furnace shut downs. Production was higher over previous year.

- 68,85,621 No. of equity shares of Rs. 10 each at par allotted on conversion of 0% OFCD.

1996 - Production and sales declined marginally due to shut down of furnace for repair.

1997 - Overall production and sales declined due to depressed market conditions.

- The Company's networth stands fully eroded due to heavy losses and accordingly, the company was required to make reference to BIFR as per the provisions of Section 15 of the Sick Industrial Companies Act, 1985.

1998 - During the year 1997-98, the working of the Company was once again adversely affected by various factors

- The Furnace in the Steel Division was closed for 53 days during the year for want of orders as well as scrap and due to transporters' strike.

- The Company has issued and allotted 2,64,416 - 20% Secured Redeemable Non-convertible Debentures of Rs. 100/- each on 22nd November, 1997 to The Industrial Credit & Investment Corporation of India Limited as and by way of conversion of certain outstanding payments aggregating to Rs. 2,64,41,600/- payable to them by the Company.

- The Company has received EEPC All-India Award for export excellence for the year 1996-97 in the category "Prime Metal - Ferrous & Non-ferrous Exporters - Non-SSI" from Engineering Export Promotion Council.

- The Company has also been nominated as winner of the first prize for the outstanding export performance during 1996-97 for the product group category "Minerals & Ferro Alloys" by the Confederation of Export Units.

- Shri Jamnadhar Mor, Shri M.B. Thaker and Shri R.K. Saraf, Directors of the Company, retire by rotation and, being eligible, offer themselves for re-election.

2000 - The Company has lifted the lock out at its Andhra Pradesh plant with effect from June 12. It was declared on March 19, 2000.

2004

-The Board for Industrial and Financial Reconstruction (BIFR) has approved a rehabilitation scheme for the ailing Ferro Alloys Corporation Ltd

2005

-Ferro Alloys Corporation enters into JV with PMCI

2007

-Ferro Alloys Corporation Ltd has informed that Shri. R K Saraf a Director of the Company has been appointed as Chairman & Managing Director of the Company w.e.f. June 29, 2007 by the Board of Directors of the Company at its meeting held on June 29, 2007.

2008

-Mr. Harish Salve has been appointed as a Director of the Company

2009

-Mr. P K Sangamkar, Nominee of Bank of India has been appointed as a Nominee Director of the Company

2011

-Mr. Pinaki Misra has been appointed as a Director of the Company

-Mr. P. K. Sangamkar, Nominee of Bank of India has ceased as a Nominee Director of the Company

2012

-Mr. Keshaorao Pardhi has been appointed as a Director of the Company

-Mr. S. Sridhar has been appointed as a Director of the Company

2014

-Ferro Alloys Corporation Ltd has Mr. Anurag Murlidhar Saraf has been appointed as a Additional Director of the Company.

2016 -Company has been accorded the status of Three Star Export House from Government of India, Ministry of Commerce & industry, Directorate General of Foreign Trade for a period of five years.

2021 -FACOR shines at 35th National Convention on Quality Concepts (NCQC)-2021, Coimbatore. -FACOR, Bhadrak Bag 3 Gold at The 29th Chapter Convention On Quality Concepts (CCQC)-2021 In Rourkela. -FACOR, Bhadrak Bag 3 Gold at The 29th Chapter Convention On Quality Concepts (CCQC)-2021 In Rourkela.3 teams from FACOR , Bhadrak for the 1st time participated at the 29th Chapter Convention on Quality Concepts 2021 by Rourkela chapter on virtual platform. All the participating teams at the event emerged winners , by bagging all 3 GOLD awards.