Company Overview
Futura Polyesters Limited (“Futura”) was a complete polyester manufacturing company producing the entire range of Polyesters PET, PBT, PTT, PEN, PTN and PBN. Futura Polyesters Limited is the merged entity of erstwhile Indian Organic Chemicals Limited and Futura Polymers Limited. It has vast experience of five decades in polyester manufacturing and R&D. Futura is listed on Bombay Stock Exchange.
Futura had 3 main business divisions:
- Polymers Division
- Fibres Division
- Preforms Division
Futura’s manufacturing facility is located near the city of Chennai. It was a large greenfield complex and included all the company’s manufacturing and recycling units. It operated throughout the year with the support of captive power generation and easy availability of water.
The Polymer division of Futura was a 100% export oriented unit till 2010. The PET Resin and allied products produced were primarily exported out to various countries but due to increased demand in India, Futura had started selling Polymers locally. With its close proximity to Chennai port and its linkages to other major metro cities in India, Futura was strategically well located to service not only the domestic market but also customers across the globe.
As of 2013, Futura Polyesters Ltd has shut all its manufacturing activities based out of Chennai. All the manufacturing units involving any kind of production of entire range of Polyesters PET, PBT, PTT, PEN, PTN and PBN is shut.
As of 2013, Futura has converted the land available in Chennai where originally the company has its manufacturing unit into a Business Park. The current activity of the company is to develop and sell the various plots located in the business park to individual buyers for their respective commercial activities.
History
✓Futura pioneered the manufacture of Polyester Fibre in India in 1972.
✓Subsequently started polyester recycling in 1976, dope dyed black and trilobal fibres in 1987.
✓PET resins and performs was started in 1994 as part of a JV with Pepsico Inc.
✓Later in 1997 Futura started production of dope dyed colour fibres and flame retardant & high shrinkage fibres in 2007.
✓Futura started its speciality PET resins in 2002, food grade PCRPET resins in 2003 and PTT, PBT, PEN, PTN and PBN specialities during 2004-2006.
✓New specialities for Hi-barrier, EBM (PETG substitute) and HI-shrink films were launched in 2007.
✓Polyester resins for dual – ovenable trays and for thermoformed products have been added recently to its product range.
Management & Team
Shyam .B. Ghia
Chairman and Managing Director
Mr. Shyam Bhupatirai Ghia is 76 years old and is a resident of India. He holds a Bachelor’s Degree in Chemistry from the University of Mumbai and Master’s Degree in Business Administration from Bowling Green State University, Ohio, USA. Previously worked at Bayer in New York and Leverkusen in Germany. He has extensive experience spanning over thirty years, in industry. Joined the Company in 1972 as Director, Administration and was elevated to the Board as a Whole-time Director with effect from 1973. Subsequently, elevated to the position of Joint Managing Director with effect from 1988 and as Managing Director with effect from August 23, 1990.
Mukund. D. Dalal
Joint Managing Director
Mr. Mukund Dharamdas Dalal is 66 years old and a resident of India. He holds a Bachelor’s Degree in Chemical Engineering from Salford University, UK and Master of Science Degree in Chemical Engineering from the Massachusetts Institute of Technology (MIT), USA. Further, he has undergone extensive training in the production plants of Chemische Werke Huls, AG, West Germany and has also been associated with various research projects. He joined the Company in 1980 as Manager – Projects and Planning. Was subsequently promoted to the position of General Manager, Futura Synthetics Division in 1983. With effect from January 01, 1988, he was elevated to the Board as a Whole-Time Director and was designated as Director-Technical. Thereafter, he was promoted to the position of a Joint Managing Director from April 01, 1992.
Gautam Purohit
Independent Director
Mr. Gautam Purohit is 72 years old and is a resident of India. He holds a Bachelor’s Degree in field of Commerce from the University of Mumbai and. Previously worked at Futura Polyesters Ltd as a manager. He used to look after sales & transport division of Futura Polyesters Ltd. He has extensive experience spanning over thirty years, in industry. Subsequently, elevated to the position of Independent Director with effect from 2024.
Manesh Shah
Chief Financial Officer
Mr. Manesh Shah is 61 years old and is a resident of India. He holds a Bachelor’s Degree in Commerce from the University of Mumbai. Further, he has undergone extensive training and joined the services of our Company with effect from 13th May, 1985 as a Clerk. He was promoted to the position of Sr. Clerk with effect from April 01, 1991 till March 31, 2000. With effect from April 01, 2000, he was further promoted as a Supervisor (Accounts) and on 1st April, 2007, he was designated as Officer-Accounts. Thereafter, he was promoted to the position of an Assistant Manager – Account from 1st April, 2010 till February, 2013. During this period, he was engaged in the activities of handling Company’s General Administration, Cash, data entries, reconciliation of ledger and accounts up to finalisation. Mr. Manesh Shah has been appointed as a “Chief Financial Officer with effect from 1st June, 2024.
Rajesh Kedia
Company Secretary
Mr. Rajesh Kedia, is 53 years old and is a resident of India. He holds a Bachelor’s Degree in Commerce and post graduate LLB Degree from the University of Mumbai. He is also an Associate member of the Institute of Company Secretaries of India holding Membership No. 11282. Further, he has undergone extensive training and have done assignments in the field of Secretarial Affairs, Legal Compliance, General Administration, Statutory documentation, Due Diligence, Liaison & Coordination and has also been associated with various Companies and have served as a Company Secretary since June, 1997. Mr. Rajesh Kedia has been appointed as a “Company Secretary” with effect from 1st October, 2024.