Amal is a public company with about 12,140 shareholders (March 31, 2013). The Company shares are quoted on Mumbai Stock Exchange.
Amal Ltd is engaged in manufacturing and marketing bulk chemicals such as Sulphuric Acid and Oleum and their downstream products such as Sulphur Dioxide and Sulphur Trioxide. The plant is located in Ankleshwar, Gujarat, India.
Promoted by Piramal Group in 1974-75, the controlling interest was sold to Atul Ltd of Lalbhai Group in 1985-86.
Amal was promoted by Piramal Group in 1974-75 as Piramal Rasayan Ltd to manufacture and market dye-intermediates by establishing a plant in Ankleshwar, Gujarat, India. The Company did a public issue and listed its shares on Mumbai Stock Exchange in 1989-90. It did not perform well, and Piramal Group transferred its controlling interest to Atul in 1985-86.
The name of Piramal Rasayan Ltd was changed to Amal Rasayan Ltd in 1986, Amal Products Ltd in 1995 and then to its present name in 2003.
Amal acquired dye-intermediates plant of Western India Enterprise Ltd in Roha, Maharashtra, India in 1987. The Company sold of the plant in1994 as the market of some of the key dye-intermediates sharply came down in the international markets, particularly Russia.
Amal then set up a plant to manufacture and market H-acid, a dye-intermediate, in Atul, Gujarat, India in 1997-98. However, as the plant was unable to meet with the new norms of Gujarat Pollution Control Board, the Company voluntarily closed down the plant.
Amal set up Sulphur Dioxide and Sulphur Trioxide plants in Ankleshwar, Gujarat, India in 2004-05. The Company enhanced the capacity of Sulphuric Acid plant in 2011-12.
The financials of Amal from 1985-86 to 2012-13 reflect that, barring 13 years, it incurred a loss. Despite poor performance in the past, the Company is confident to put forward improved performance in the years ahead and has taken up certain initiatives to make this happen.