Citurgia Biochemicals was incorporated in 1974 in Mumbai. The company manufactures citric acid, calcium carbonate and plasticizers. Citric acid is traditionally used in foods, soft drinks, confectionery and drugs. It is also used in textile printing and dyeing, where it provides stable pH conditions for polyester and nylon, acrylic print-curing and cotton-resist printing.
The company was promoted by John and E. Sturdia, UK; Bombay Dyeing and Manufacturing Company; and Sturdia Chemical. In 1987-1988, it acquired two subsidiaries, Sodality Trading and Agencies and Himgiri Trading and Agencies. The company exports citric acid to US, Japan, Germany, Australia, Iran, Malaysia and Sri Lanka.
Milestones:
- 1974 - The company was incorporated on 13th September at Mumbai. It manufactures Citric Acid, Calcium Carbonate and Plasticizers. The company was promoted by John and E Sturdia, U.K. The Bombay Dyeing and Manufacturing Company, and Sturdia Chemicals, Mumbai. - The company entered into a technical collaboration with the company John and E. Sturge, in U.K. for manufacture of citric acid. - Towards the payment of imported plant and equipment, the company was to allot to the collaborators 11,00,000 equity shares of Rs 10 each. The collaborators were to supply the technical know-how for the manufacture of citric acid. - 10,001 shares subscribed for by the signatories to the Memorandum of Association; 10,44,317 shares allotted without payment in cash to John and E. Sturge, U.K; 1,49,500 shares allotted to The Bombay Dyeing and Mfg. Co.; 79,000 allotted to Chemicals, and 2,12,999 shares allotted to directors and shareholders of Sturdia Chemicals.
- 1978 - 15,04,183 shares issued at par through a prospectus dated 10.1.1997; 55,683 shares reserved for allotment to John and E. Sturge, U.K. without payment in cash. 1,48,500 shares reserved to The Bombay Dyeing and Mfg. Co. and 13,00,000shares offered for public subscription during February 1977.
- 1983 - Jasper Investment, a wholly owned subsidiary of Sturdia chemicals became subsidiary of the company on Sturdia's amalgamation with the company. - With effect from 1st April, Sturdia Chemicals was amalgamated with the Company. As per the scheme of amalgamation, the company issued 3 equity shares of Rs 10 each for every two equity shares held in Sturdia Chemicals (SCL), by the erstwhile shareholders of SCL. Totally 22,50,000 equity shares of the company were allotted to the erstwhile shareholders of Sturdia Chemicals as on 2nd November, 1984.
- 1984 - 22,50,000 No. of equity shares issued without payment in cash to the members of Sturdia Chemicals, on its merger with the Company.
- 1985 - The working was adversely affected due to lock-out at the Surat plant from 30th December. The lock out at the Surat plant was lifted on May 15, 1986. - It was proposed to expand the installed capacity of citric acid from 5,000 tonnes to 8,000 tonnes per annum. Efforts were also being made for further modernisation of the Hrishikesh plant by installation of new equipment and instrumentation.
- 1987 - The Company successfully commissioned the anaerobic effluents discharged in the process of manufacturing citric acid at the Surat plant. - 18,68,735 No. of equity shares cancelled as per the scheme of reduction of capital.
- 1988 - The company issued 2,00,000-14% secured non-convertible debentures of Rs 100 each on private placement basis. These are redeemable at a premium of Rs 5 per debenture in 1995-96.
- 1989 - The Company privately placed with Army Group Insurance Directorate 1,15,000-14% secured non-convertible debentures of Rs 100 each. These are redeemable at premium of 5% in 1997.
- 1990 - The Company issued 4,95,000-14% secured non-convertible debentures of Rs 100 each. These are redeemable at a premium of Rs 5 per debenture in three equal annual installments from 1996-97.
- 1991 - The Company successfully commissioned a 10 MT/hr fuel efficient oil-fired boiler at the Rishikesh plant
- 1992 - The Company with a view to improve the yield and productivity of the fermentation process proposed to examine a new recovery technology.
- 1994 - The Company under took to modernise and expand the calcium carbonate plant.
- 1995 - A more productive strain of citric acid fermenting organism to reduce usage of raw material was introduced. The Company evaluated various proposals for debottlenecking plant capacity. - The Company received a sum of Rs 500.0 lakhs from ICICI sanctioned in participation with other financial institutions towards modernisation of its citric acid plant at Surat.
- 2002 - H C Pandya ceases to hold office of Director in Citurgia Biochemicals.
Business areas of the company:
Citurgia Biochemicals engages in the manufacture, sale, and export of calcium carbonate in India. The company is based in Mumbai, India. The company has expressed its full support for fixation of anti-dumping.
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