Bhansali Engineering Polymers (BEPL) was incorporated on 9 Apr.'84 under the name Bhansali Steels. It commenced business on 16 May '84. It changed its name to Bhansali Engineering Polymers on 4 Jan.'86 by setting up a project for the manufacture of acrylonitrile butadiene styrene (ABS) resins. A fresh certificate of incorporation was issued on 23 Jan.'86._x000D_ _x000D_ BEPL has been promoted by B M Bhansali and P R Bhansali in association with the Madhya Pradesh Audyogik Vikas Nigam (MPAVN), an industrial development corporation of the state government of Madhya Pradesh. Anand Swarup Gupta is the Chairman and B M Bhansali is the Managing Director of the company._x000D_ _x000D_ In May '89, the company came out with a public issue of 36 lac equity shares at par aggregating Rs 3.6 cr. The proceeds of the issue were utilised to part-finance a Rs 25.25-cr project to manufacture 6000 tpa of ABS resin in technical collaboration with Sumitomo Chemical Engineering Company, Japan The plant is located in the Chindwara district of Madhya Pradesh._x000D_ _x000D_ Company's product is well established in the international market & confident that will achieved higher export growth in coming years. Company has received ISO 9002 Quality Standard Certificate from KPMG for manufacture & marketing of Acrylonitrile Butadiene Styrene (ABS) ploymers and Compounds. During 1999-2000, the company has entered into an agreement with M/s Polychem Ltd, for acquiring their ABS/SAN unit at Vadodara as a going concern. _x000D_ _x000D_ As planned earlier to expand installed capacity of ABS/SAN from existing 20,000 TPA to 27,000 TPA was expanded. The company has also installed new FBC boiler with 82 % efficiency and the boiler has been commissioned during the year. The capacity of ABS/SAN was expanded from 27000 TPA to 30000 TPA and it is also in the process of finalizing the plans to expand the total capacity of ABS/SAN to 45000 TPA by the next year._x000D_ _x000D_ The company is taking over the Polymer manufacturing facilities known as RPRL Unit of Greaves Ltd for a consideration of Rs.12.45 Crores. The company plans to increase its production capacity of ABS Resins from the present 30000 TPA to 120000 TPA by March 31, 2005. This will be achieved by consolidating the total facilites after new acquisition and upgrading the process technologies together with better plant sectional capacity balancing. The total cost of the scheme is estimated to be approximate Rs.74 crores._x000D_ _x000D_ As part of the expansion in production capacity of ABS Resins, the installed capacity was increased from 30000 TPA to 48000 TPA during 2003-04 and has planned to increase upto 60000 TPA by 31st March 2006 & 200000 TPA by 31st March 2007._x000D_ _x000D_ During 2004-05, the company took initiative in consolidating of compounding operations at one location that is Abu Road and relocation of Bulk SAN manufacturing facility from Vadodara to Abu Road to mitigate uneconomic and unsustainable high cost operations at three different locations._x000D_ _x000D_ In February 2004 the company sub-divided its equity share face value from Rs.10/- to Re.1/-._x000D_