Dynemic Products Limited manufactures, markets, and exports dyes and dye intermediates in India and internationally. The company offers food colors used in foodstuff, beverages, animal feed, etc.; lake colors for use in pharmaceuticals, cosmetic and personal products, spice compounds, bakery products, dairy products, and snack foods; and blended colors. It also provides food and drug cosmetic colors used in food, drugs, and cosmetic products; salt free dyes for use in cartridge ink, roller ball point ink, etc.; and D&C and natural food colors for use in pharmaceutical products. In addition, the company offers dyes intermediates, which are used in the manufacture of food colors, acid dyes, reactive dyes, ramazol dyes, metal complex dyes, and direct dyes. Dynemic Products Limited was founded in 1990 and is based in Ahmedabad, India.
In the year 2000 the company acquire the running business of M/s Saffron Dye Stuff Industries & started manufacturing wide range of food colours at the premises 3709/6, G.I.D.C Estate, Ankleshwar having plot area admeasuring 3700 Sq. Meter.
As the company aims to provide entire range of qualitative & quantitative services to Food Industry, at its Unit I Company commenced manufacturing of food colour namely Tartrazine in the year 2000-01. Both the units at Ankleshwar are modern and have eco- friendly plants with in-house testing facilities to control quality at every level of manufacturing.
The Company exports its product to around 45 countries worldwide. Also the Company has its office in USA and expects to capture good market in American continent. All these have led the company to acquire and retain a status of largest manufacturer and supplier of food colours and dye intermediates in India.
Application of food colours & dye intermediates:
2. Recent Development (as on 29th July'14)
i) Board recommends dividend and Postponed the agenda item for sub division of shares - 29th May 2014
Dynemic Products Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 29, 2014, inter alia, has decided the following matters:
1. Recommended the dividend of Rs. 1.50 per share i.e. 15% per share subject to approval of members in the next annual general meeting.
2. The Twenty Fourth Annual General Meeting of the members of the Company is scheduled to be held on September 11, 2014.
3. The Board postponed the agenda item for sub-division of shares.
On 19th May, 2014, company announced that board of directors recommend and consider sub-division of Equity Shares of face value Rs. 10/- each into 10 equity shares of face value Rs. 1/- each.
This was not a good move as this would have resulted the stock to trade as a penny share and become an operator’s play, we wrote to company officials seeking the clarification for such a move. We believe, company has realized the risk and hence postponed it.
ii) Increase in Promoter’s Share Holding during last quarter
Promoter’s shareholding in the company is increased by 0.77% during last quarter. Promoters have increased their stake from 41.93% to 42.70%. Below are the detail of transactions made by Promoters in the month of April and May 2014
Promoter’s shareholding in the company is increased by 0.77% during last quarter. Promoters have increased their stake from 41.93% to 42.70%. Below are the detail of transactions made by Promoters in the month of April and May 2014.
- 60% at current market price of Rs. 46
- 40% at price range of Rs. 36 – 40 (in case of correction in stock price)
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