Dollex Agrotech Ltd - Stock Valuation and Financial Performance

The company was originally incorporated as a private limited company under the Companies Act, 2013 in the name and style of “Dollex Agrotech Private Limited” bearing Corporate Identification Number dated June 10, 2013 issued by the Registrar of Companies, Gwalior. Subsequently, the Company was converted into public limited company pursuant to a shareholders’ resolution passed at an Extra-Ordinary General Meeting held on April 25, 2022, and name of the Company was changed to “Dollex Agrotech Limited” and a fresh Certificate of Incorporation dated May 20, 2022, was issued by Registrar of Companies, Gwalior.

Dollex Agrotech is engaged into the business of manufacturing & trading of sugar with captive power cogeneration capabilities. The company’s promoter Mehmood Khan possess rich experience of sugar industry of nearly about fifteen years. In 2006, Mehmood Khan, one of its promoter, participated in a tender floated by Government of Maharashtra for a sugar unit on lease at Nanded, Maharashtra and was allotted the unit for a period of 6 years. After getting rich experience in sugar industry, he started mentoring other companies engaged in sugar manufacturing. Thereafter, he decided to set up a sugar manufacturing plant, in the name of the company ‘Dollex Industries Limited’ which was later on merged with an unlisted company, ‘Parvati Sweetners and Power Ltd’, in 2018, and its promoters sold their shareholding in that company & currently has no control neither by shareholding nor by any managerial rights.

As the production of sugarcane required ample amount of time, the company started its cane development process since Incorporation. Thereafter, the promoters started gathering resources like plant and machinery, key managerial personnel etc. for establishing and operating sugar manufacturing plant till the year 2017. In the year 2018, the company then started its operations of Sugar manufacturing, from sugarcane along with co-generation capabilities in Indore, Madhya Pradesh. Its plant is situated at Village Erai, Tehsil Badoni Khurd, Dist. Datia, Madhya Pradesh. It has received in-principle approval from department of Food & public distribution from Government of India for establishing distilleries. In addition to sugar, it also produces and sells its byproducts such as mollases, pressmud and bagasse. The bagasse is used to generate power. The power is generated from bagasse to run its plant at Datia.

Business area of the company

The company is engaged in the business of manufacturing & trading sugar with captive power cogeneration capabilities. It also produces and sells its by-products such as mollases, pressed and bagasse.

Key events and milestones

• 2017: Alteration of object clause of the Memorandum of Association by adding the business of manufacturing of sugar and its by-products. The company set up a new sugar manufacturing plant in Datia.
  
• 2022: Alteration of Name clause of Memorandum of Association and subsequently the company was converted from Private Limited Company into Public Company.
  
• 2022: Alteration of object clause of the Memorandum of Association by adding manufacturing and processing of grains and and by-products such as of fuel, bio-fuels, ethanol and all its by-products.