1.

1 Nature of Business

India Glycols is a leading company that manufactures green technology

based bulk, specialty and performance chemicals and natural gums, spirits,
industrial gases, sugar and nutraceuticals.

The company was established as a single mono-ethylene glycol plant in

1983. Since then, IGL has brought together cutting-edge technology,
innovation and an unflagging commitment to quality, to manufacture a
wide range of products that have found global demand.

IGL’s state-of-the-art, integrated facilities manufacture chemicals including

glycols, ethoxylates, glycol ethers and acetates, and various performance
chemicals. Its product range spans the chemicals, spirits, herbal and other
phytochemical extracts and guar gum, industrial gases and realty sectors,
and finds application across an increasing number of industries.

These products are manufactured in compliance with stringent global

standards of plant operations, quality and safety. The company’s facilities
have been approved and certified by international agencies including Det
Norske Veritas (DNV). The operations at all plants are closely monitored
through distributed control systems (DCS), which facilitate a high degree
of control over the quality of products.

IGL businesses
IGL’s flagship chemicals division started out with a path-breaking green
approach to manufacturing ethylene oxide and derivatives. Using the
molasses-ethyl alcohol-ethylene 'green route', the company is the only
one of its kind in the world. With the emphasis now increasingly shifting to
green manufacturing, the chemical division is well poised to meet the
industry’s need for environmentally responsible products and production
techniques.

Keeping in mind the critical dependence on agricultural feedstock, the

company has taken up several initiatives including backward integration
into sugar manufacturing to ensure seamless raw material availability.
Other complementary initiatives include co-opting the cane growing
community to ensure cane availability while providing adequate returns to
the farmer.

Apart from chemicals, India Glycols has a significant presence in the

natural active pharmaceuticals and nutraceuticals space with Ennature
Biopharma; a well-established natural gum division manufacturing guar
gum and a variety of derivatives; a spirits division that manufactures
country and Indian-made foreign liquor adhering to the highest quality
standards; and Shakumbari Sugar – a well-established player in the
Indian sugar industry.

Exports
IGL has traditionally looked to leverage the export potential of its products.
The company has therefore initiated the process of aligning to emerging
global trends and has established facilities and operations that are in
compliance with global good manufacturing practices.

Customer focus
The company strives to achieve excellence through proactively
addressing customer needs and requirements. Integral to this approach is
the identification and development of customised products backed by
research and development support.
IGL's R&D function is not only driven by organisational needs, but more
importantly by customer needs. Its R&D centre employs state-of-the-art
equipment that empowers IGL scientists and engineers to consistently
deliver customised solutions that meet, and at times, even exceed
customer expectations.

India Glycols (IGL), incorporated in 1983, is engaged in the business of

manufacturing glycols, ethoxylates and PEGs, performance chemicals,
glycol ether and acetates, guar gum and potable alcohol. Promoted by
Vam Organics, the company was incorporated under the name as UP
Glycols. Since 1989, IGL is the only company in the world that uses
renewable agro source based on molasses to manufacture Ethylene
Oxide (EO) / Mono Ethylene Glycol (MEG). The company?óÔé¼Ôäós in–
house R&D facility focuses on developing new products and processes. In
India, the company is the largest ethoxylate and glycol ether producer
thus making it leader in ethylene oxide derivatives/surfactant business.
The company exports its products to countries like South East Asia,
Middle East, Europe, Australia and USA. It was granted ?óÔé¼?£One
Star Export House?óÔé¼Ôäó status by the government of India.
IGL operates subsidiaries namely IGL Finance, IGLCHEM International
Pte and Shakumbari Sugar and Allied Industries. The company has base
of 1000 customers. Products manufactured by company find applications
in area of textile, agrochemical, oil and gas, personal care,
pharmaceuticals, brake fluids, detergent, emulsion polymerisation and
paints, etc.
The company has formed various technical collaborations such as
Scientific Design Company Inc, USA for glycols; Press industria AG, Italy
for ethoxylates and PEGs; Sanyo Chemical Industries of Japan for
performance chemicals; Sulzer Chemtech of Switzerland for glycol ethers
and Alfa Laval, USA for extra neutral alcohol.
IGL owns an export oriented unit (EOU) that primarily produced 10,000
MTPA of guar products such as guar, treated and pulverised guar gum
powder and derivatised guar.
It also operates 100% EOU under the name Ennature Bio–pharma
Division. This unit is spread across in an area 47 acres land which leased
from the Uttarakhand government. This unit will grow a spectrum of
medicinal plants. It will also set up supercritical fluid extraction facility
(SCFE) at Dehradun that will be used for extraction of dietary food
 supplements, natural colours, health care, fruits and vegetables, herbal
extracts, fruit flavours and fragrances and spice flavours and extract.

The company has installed distillery effluent evaporators at Gorakhpur

and the concentrated effluent is burnt in specially designed boilers; the
calorific value of the concentrated, effluent generates super–heated steam
which is. utilised in the turbo generator with capacity of 12.5 MW for
power generation.

In FY 2007–08 the company acquired controlling stake in the Shakumbari

Sugar & Allied Industries (SSAIL) that is engaged in business of
manufacturing sugar. SSAIL?óÔé¼Ôäós manufacturing plant is located in
Uttar Pradesh with a crushing capacity of 3200 tones per day (TCD) along
with a modern distillery of 40 kl per day (KLPD), producing high quality
rectified spirit, ethanol and country liquor and an internal bagasse–fired
co–generation plant of 3 MW catering to the captive power needs of the
sugar and distillery units.

Future Plans
India Glycols will focus on various areas in future such as developing
cost–effective emulsifier for crop protection chemicals; development of
eco–friendly surfactants to replace alkylphenol ethoxylates; development
of green demulsifier for crude oil emulsion and setting up an application
development laboratory equipped with all sophisticated instruments for
various industries.

1.2 Type and ownership pattern

 Shareholding pattern

promoter mf fii other instituitions individual

2 india Glycols Ltd Shareholding Pattern

31/12/2018 30/09/2018 30/06/2018

Total No of Shares 30961500 30961500 30961500

Face Value 10 10 10

No of ShareHolders 33921 31109 31733

No of Shares Percentage No of Shares Percentage No of Shares Percentage

Foreign Promoters 0 0.00 0 0.00 0 0.00

Indian Promoters 18891032 61.01 18891032 61.01 18891032 61.01

Person Acting in Concent 0 0 0 0 0 0

Sub Total (Promoters) 18891032 61.01 18891032 61.01 18891032 61.01

Mutual Funds (Including UTI) 0 0.00 9900 0.03 9900 0.03

Banks & Institutions 0 0.00 137724 0.44 136660 0.44

FIIS 0 0.00 1239646 4.00 1243243 4.02

 Private Corporate Body 0 0 0 0 0 0

NRI & Others 0 0 0 0 0 0

Sub Total (Institutions) 0 0.00 1387270 4.48 1389803 4.49

ADR & GDR 0 0 0 0 0 0

Directors & Employees 0 0 0 0 0 0

Government 0 0.00 100 0.00 100 0.00

Others 0 0.00 2696084 8.71 2699242 8.72

Sub Total (Others) 0 0.00 2696184 8.71 2699342 8.72

General Public 0 0.00 7987014 25.80 7981323 25.78

Holding March 2018

Name % shares No of holders Indian/Foreign

Individuals/Hindu undivided Family 9.29 2,875,866 6 Indian
Executor To The Estate Of Late Sajani Devi
6.56 2,030,249 1 Indian
Bhartia
Uma Shankar Bhartia 1.45 448,722 1 Indian
Jayshree Bhartia 0.74 229,003 1 Indian
Pooja Bhartia 0.32 97,592 1 Indian
Sajani Devi Bhartia 0.23 70,000 1 Indian
Pragya Bhartia 0.00 300 1 Indian
Any Other 51.73 16,015,166 10 Indian
Kashipur Holdings Limited 33.44 10,352,406 1 Indian
Mayur Barter Pvt Ltd 4.70 1,456,066 1 Indian
Facit Commosales Pvt Ltd 3.42 1,057,853 1 Indian
Jb Commercial Company Pvt Ltd 3.16 977,915 1 Indian
J.Boseck And Co Pvt Ltd 2.79 864,401 1 Indian
Ajay Commercial Company Pvt Ltd 1.97 611,255 1 Indian
Sukhvarsha Distributors Pvt Limited 1.17 361,875 1 Indian
Supreet Vyapaar Pvt Ltd 0.87 267,895 1 Indian
Hinudstan Wires Limited 0.21 65,000 1 Indian

Board of directors
company India Glycols Limited is a professionally managed public limited
with Mr US Bhartia leading the business operations. The company’s board
of directors comprises:
Mr US Bhartia
Ms Jayshree Bhartia
Mr Pradip Kumar Khaitan
Mr Jagmohan N Kejriwal
Mr MK Rao
Mr Ravi Jhunjhunwala
Mr Jitender Balakrishnan
Mr Ashwini Kumar Sharma
Mr Sajeve Deora
Terms of Appointment of Independent Directors of the Company:
The following have been appointed, by the shareholders in the Annual
General Meeting of the Company held on 20.09.2014, as the Independent
Directors of the Company w.e.f 1st October 2014 for a period not
exceeding 5 years:
1. Shri P.K. Khaitan*
2. Shri Jitender Balakrishnan*
3. Shri Ravi jhunjhunwala*
4. Shri Jagmohan N. Kejriwal*
5. Shri Sajeve Deora**
*Appointed by the shareholders in the Annual General Meeting (AGM) of
the Company held on 20.09.2014, as the Independent Directors of the
Company w.e.f 1st October 2014 for a period not exceeding 5 years.
**Appointed by the shareholders in the Annual General Meeting (AGM) of
the Company held on 4th August, 2018, as the Independent Directors of
the Company w.e.f 1st May, 2018 for a period not exceeding 5 years.
Highlights of the terms & conditions subject to which the aforesaid
Independent Directors have been appointed:
(1) They will be required to serve on the Committees of the Board of
Directors as may be decided by the Board of Directors from time to time.
(2) They will be bound by the Code for Independent Directors given in
Schedule IV of the Companies Act 2013 and the SEBI guidelines.
(3) They will devote such time to the affairs of the Company as is required
to meet the expectations of their role & duties as Independent Director of
the Company as prescribed under Schedule IV of the Companies Act 2013.
(4) They will be required to attend the meeting of the Independent Directors
of the Company in addition to the Meetings of the Board of directors of the
Company.
(5) They will be entitled to reimbursement of travel expenses incurred for
attending the meetings of Board of Directors or any committee thereof.
They will be paid sitting fee per meeting of the Board and any committee
thereof as per the following schedule of fee:

(Amount in INR)

Board Meeting 50,000

Audit Committee Meeting 50,000

Any other Committee Meeting 10,000

(6) In the event of profits earned by the Company, they will be paid such
commission out of profits of the Company as may be decided by the Board
of Directors subject to the provisions of the Companies Act, 2013.
(7) The following disclosures should be sent to the Company for each
financial year as per the requirements of the Companies Act, 2013 and
Rules thereunder:
a. Declaration of Independence under section 149(6)/149(7).
b. Declaration of Interest under section 184(1).
c. Declaration of non-disqualification under section 164(2).
(8) They must apply the highest standards of confidentiality, and not
disclose to any person or company (whether during the course of the
Appointment or at any time after its termination), any confidential
information (including any price sensitive information) concerning the
Company and its Group Companies with which you come across by virtue
of your position as an Independent Director of the Company.
(9) They may be terminated at any time in accordance with the provisions
of the Articles of Association of the Company or the provisions for the
removal of directors under the Companies Act, 2013.
(10) Upon termination or upon resignation for any reason, they will not be
entitled to any damages for loss of office and no fee will be payable in
respect of any unexpired portion of the term of the Appointment.

1.3 organisational structure

An organisational structure is a mainly hierarchical concept of
subordination of entities that collaborate and contribute to serve one
common aim. Organisations are a variant of clustered entities. An
organisation can be structured in many different ways and styles,
depending on their objectives and ambience. The structure of an
organisation will determine the modes in which it operates and performs.
Organisational structure allows the expressed allocation of responsibilities
for different functions and processes to different entities such as the
branch, department, workgroup and individual. Individuals in an
organisational structure are normally hired under time-limited work
contracts or work contracts or work orders, or under permanent
employment contracts or program orders.

1.4 Production layout

1.5 Organisational policies

2.1 Industrial overview