Savita Oil Technologies Ltd - Stock Valuation and Financial Performance

Savita Oil Technologies, earlier known as Savita Chemical, a Savita Group company was incorporated in 1961, the founder of the group is N K Mehra. It  has been pioneering petrolelum speciality products. Whether it’s liquid Paraffins or the high techfilling compounds for Telecom cables. It has been forefront of supplying vital inputs to industries as diverse as power, petrochemicals, telecommunications, Pharmaceuticals, Cosmetics, and Plastics etc. SAVONOL & TRANSOL are quality products manufactured by sovita in the most modern continuous process plant, the only one of its kind in India.

It manufactures liquid paraffin, an import substitute, for the first time in India at its plant in Bombay. Since then, it has expanded its product profile and is today one of the leading manufacturers of petroleum specialties, which include products such as petroleum sulphonates, transformer oils / white oils and petroleum jellies, among other specialty products.

The company has tied up with Japanese oil major, Idemitsu, which will supply the technical know-how to manufacture and market its entire range of automotive and industrial lubricants. It launched the automotive range of lubricants under the Idemitsu brand name in Nov.'94. For this project company came out with a public issue.

The demand for company's product is increasing, for this company has plan to expand its network in Western, Northern and Southern India. SCL has initiated steps for obtaining the ISO 9001 certificate. The company has establish a power plant to generate, distribute & supply electric based on wind energy at Satara district, Maharashtra. The plant was commissioned in March 1999. This power generated from the plant will be used for captive consumption & also supply to third parties on a commercial basis. Development work is continuing on Sulfonates, Hot Melt Adhesives and Speciality Waxes.

The International Business Division of the Savita Group was set up in 1993 with a dedicated group of skilled professionals and a strong leadership. With a sharp customer-focus and an innovative attitude, the Savita Group is today India's largest exporter of petroleum specialities products.

Savita exports its products across the globe and is known for its customization, ISO 9001 Quality System and innovative packaging like Flexitanks, ISO tanks and optimized drum-stacking systems. Savita's global reputation is that of an ethical & reliable company with an efficient distribution channels.

Products manufactured by the company include:

• SAVONOL - Liquid Paraffin  
• VITAGEL - Optic Fibre Cable Filling Compound
• TRANSOL - Transformer Oil  
• SAVOFLOW - Pour Point Depressants
• TECHNOL - White Oil   
• SAVSOL - Lubricants
• SAVOGEL - Petroleum Jellies   
• SAVOWAX - Waxes
• SAVOFIL/SAVOFLOD - Cable Filling Compound  
• IDEMITSU - Automotive & Industrial Lubricants
• SAVOX BW300 - Emulsifiable(Oxidized) Polyethylene Wax  
• SPECIALITY WAX EMULSION - For Leather finishings, Water based paints and Printing inks

Awards & Achievements:

• ISO 9001 Quality System Certified Company.
• It is ISO 9002 certified.
• It produces KEMA Approved Transformer Oil.

Milestones

1961: Mr. Nandkishore Mehra, along with his father Mr. Devichand Mehra founded Savita in 1961. He was an ambitious and aspiring entrepreneur and after initial trading stints with thinners and solvents, he setup Savita’s first manufacturing unit at Sakinaka, Mumbai in 1961 to manufacture liquid paraffin as an import substitute. This was soon followed by the production of petroleum jelly in 1965.

 1969: Savita built its second manufacturing unit at Turbhe, on the out-skirts of Mumbai for the manufacture of petroleum specialties.

1976: Savita’s Research and Development Department was setup to be the first of its kind in the private sector oil industry in India to be recognized by the Government of India’s Department of Science and Technology.

1989: Savita setup another manufacturing unit at Mahad, an Industrial Development Zone in Maharashtra.

 1992: Savita Polymers Limited was incorporated as a group company to manufacture Polymer Based Compounds, Cable Filling  Compounds and Micro and Oxidised Waxes.

1994: Maiden Public Issue of Equity Shares was proposed, and Savita was listed on The Bombay Stock Exchange and the National Stock Exchange of India.

1994: Launched the entire range of Automotive and Industrial Lubricants.

1997: Accredited with ISO 9001 Certification, the first and only Petroleum Specialty Company in the private sector to get this at the time.

1998: Expanded manufacturing of petroleum specialties by setting up its third manufacturing unit at Kharadpada, Silvassa.

 1999: Commissioned the first windmill of the Company in Maharashtra marking the beginning of Savita’s foray into Alternative and Sustainable Energy Sources. Savita today has a capacity of over 50 MW of generation from renewable sources.

2002: Achieved the Government Recognized Star Export House Status, and currently exports to over 75 countries worldwide.

2007: Launched SAVSOL, Savita’s own brand of Lubricating Oils.

2009: Company renamed to Savita Oil Technologies Limited.

2013: Setup a third, fully automated, state of the art manufacturing unit at Silli, Silvassa for the manufacture of the entire range of petroleum specialties and lubricants.