Welcome to Borax Morarji Ltd.

Borax Morarji Limited (BML) was incorporated on August 27, 1963. It was originally promoted jointly by the Dharamsi Morarji Chemical Co. Ltd. (DMCC) a large scale fertilizer and Chemical manufacturer and Borax Holdings Ltd. (UK). DMCC is a company incorporated in 1919 and has a turnover of over U.S.$70 million. In 1979 DMCC bought over the share of Borax Holdings Ltd.

Social Commitment

Social responsibility is a part of our business. We measure our success with the trust and support of the communities in which our plant sites are located. The smile on the faces of our employees and neighbours are equally energetic to us for performing out our daily business. Besides employees' welfare schemes, we arrange several programmes like safety awareness, maintenance of greener environment, etc. for our neighbours.

We have created following facilities for welfare of our employees and of local communities :

  • Best Attendance Award and Long Service Award are honoured to employees to encourage daily working practices.
  • Death benevolent fund : If an employee passes away, there is a scheme to give monetary help to his family. As per this scheme, a certain amount is contributed by each employee from his monthly salary and the equivalent amount of the total contribution made by the employees is added by the employer. A cheque of the total amount thus collected is handed over to the family of the deceased.
  • Natural Calamities Fund : The employees donate generously to the sufferer of Natural Calamities. Recently employees donated their one day salary to the Tsunami sufferers. Employer added equal amount of the total employees collection.
  • We involve neighbouring communities in company's safety day celebration. We arrange various competitions such as Rangoli, wall paintings by school students, safety slogans, one act play, etc. to enhance the safety awareness among them. Normal safety precautions to be taken even in the home are demonstrated through drama.
  • We believe in growing more trees. Therefore every year we plant trees in the local area.
  • We analyse air samples collected from residential zones to ensure air quality.


Establishing, implementing and maintaining Quality Management System and continually improving it.

Meeting Customer requirements and expectation as regards to Quality, Reliability and Delivery of all our Boron Chemicals.

Improving key processes at functional levels and thereby, achieving the quality objectives.

About Us

Borax Morarji Limited (BML) was incorporated on August 27, 1963. It was originally promoted jointly by the Dharamsi Morarji Chemical Co. Ltd. (DMCC) a large scale fertilizer and Chemical manufacturer and Borax Holdings Ltd. (UK). DMCC is a company incorporated in 1919 and has a turnover of over U.S.$70 million. In 1979 DMCC bought over the share of Borax Holdings Ltd.

Borax Morarji Limited has a cohesive group of 200 dedicated employees and a sales turnover of, U.S.$ 10 million. BML is committed to total customer satisfaction BML offers a wide range of quality products at a reasonable price followed by excellent customer service. This has enabled BML to maintain it’s market share at 60% of the Indian boron chemicals market. A network of dealers all over India, built up over the last three decades, provides full support and service to customers.

Chemical Division

BML has been pioneer in manufacturing boron based chemicals since 1964. Glass, Ceramic and Pharmaceutical Industries are the major consumers of boron chemicals. The Annual production capacity for all grades of Borax and Boric Acid are 24000 MT at Dahej GIDC in the state of Gujarat . A wide range of speciality chemicals are also produced, with application as Detergents additives, Micronutrient fertilizers, Flame Retardants, and Catalysts.

The Quality Management system of the Chemical Division has been certified by Bureau Veritas Quality International to be in accordance with ISO 9002 : 1994 Quality Standards for: Manufacture and supply of Bulk Boron Chemicals & Speciality Boron Chemicals.

Wind Mill Division

The Company has setup two Windmill Farms consisting of 2 Wind Turbine Generators having a total generation capacity of 0.950 Megawatts. Power generated at Windmills is sold to the grid.

BML is an active supporter of efforts to promote non-conventional energy sources.

BML is the first Company to set up a commercially operated windmill in the state of Maharashtra.


Borax Pentahydrate

Borax Pentahydrate is a salt of boric acid, which is used as a component in manufacturing glass, pottery and ceramics.

  • Available in Granular Grade

Borax Decahydrate

Borax Decahydrate is the refined form of natural sodium borate.

  • Available in powder or granular form.
  • Chemically Pure Grade
  • S Q Grade
  • A R Grade

Boric Acid

Boric Acid is often used as an flame retardant, neutron absorber, or precursor to other chemical compounds.

  • Available in powder or granular form.
  • Technical Grade.
  • Chemically Pure Grade.
  • S Q Grade
  • A R Grade

Zinc Borate

Zinc borate is an inorganic compound, a borate of zinc. It is a white crystalline or amorphous powder insoluble in water.

  • BML ZB 2335 Grade
  • BML ZB 223 Grade

Disodium Octaborate Tetrahydrate / Agribor- Micronutrient fertiliser

Disodium Octaborate Tetrahydrate (D.O.T.)/ Agribor is a concentrated soluble micronutrient Fertiliser for use in agricultural crops. It is mainly used as a spray to the soil or to the foliage for correcting Boron deficiency in plant.

Calplus ®


Borax Morarji Ltd. requires Vendor Registration as part of our Quality Management System.

After receiving the filled "Vendor Registration Form", reliability, consistency and quality of the goods are evaluated. If these are acceptable and there is an economic benefit, we proceed with vendor development.

Following are the major raw materials used


Boron Minerals


Sulphuric Acid


Zinc Oxide


Oxalic Acid


Hydrogen Peroxide


Soda Ash

Packing material such as drums, IBCs, Carbouys, HDPE & Paper bags and pallets are regularly sourced.

Vendors are requested to contact to vendor@boraxmorarji.com for further details.


We value all our shareholders. In case of any grievance/complaint, please write to us at investorcare@boraxmorarji.com with details of your grievance/complaint. Our Compliance Officer and his team will be pleased to resolve your grievance/complaint.

For any assistance, please contact the investor Service Department of the Company at our address

For Clarification Contact

Mr. Dilip S. Nagle

Company Secretary & Compliance Officer

Shareholding Pattern

Amalagamation Scheme

Unclaimed Dividends



Quarterly Financial Results


Annual Financial Results


Corporate Governance

BORAX MORARJI LIMITED:-Clause 49 of the Listing Agreement

As required by Clause 49 I(D)(i) of Clause 49 of the Listing Agreement, the Code of Conduct, effective from 1 st January, 2006, as laid down by the Board for all the Board members and senior management of the Company is as under:-

The Code of Conduct of the Company applicable to its Directors/Senior Management consists of a set of regulations and wisdom within the limits of which its Directors and Senior Management are bound to function by adhering to the applicable laws thereby preventing wrong doings and promoting ethical conduct.


All the Directors will perform their duties in good faith and with honesty and diligence with the cherished goal of sustained growth in every conduct of the Company's business activities.

It is demanded of Senior Management that they uphold the “best interests of the Company” while discharging their duties with honesty and professional integrity in their respective spheres of production, quality control, research & development, sales, administration and finance.


Outside Directorships

Directors desist themselves from (a) engaging in any activity which prima facie is in conflict with or prejudicial to the Company (b) associating themselves by investment of funds with the supplier company or competitor company; ( c) business dealings with a relative or related party in any significant role unless they comply with the applicable laws in that regard.

Outside Employment

It is expected of Senior Management that they devote their full attention to the business interest of the Company and will always hold themselves back from indulging in any activity that directly or indirectly promotes growth of the competitors and to the detriment of the Company's business.

Confidentiality of information

All the confidential information which the Directors may come to know of during the course of the business relating to the Company's customers, suppliers, etc., will be guarded as “secret” by Directors unless such disclosures are warranted by law. The Directors refrain themselves from providing any of such information either formally or informally to the press or any other publicity media.

Insider Trading

All the Directors will comply with insider trading guidelines as issued by SEBI.

Gifts & Donations

The Directors keep themselves away from receiving or giving any gifts/donations to secure/provide business favours. However, the Senior Management may give nominal gifts within the limits prescribed in this regard. The Management Staff is allowed to accept nominal gifts given to them in the normal course of business.

Protection of assets

Directors ensure that the company's assets are properly made use of for the purpose for which they were intended for and do not use them either for their personal use or for the use of their subordinates unless approved by the Board.

Periodic Review

The Code of Conduct will be reviewed every year to include areas of improvement. The Directors and Senior Management agree to abide by the Code of Conduct always.

30th September 2015 by mid of November,2015

31st December 2015 by mid of February,2015

31st March 2016 by end of April and May 2016

The Board of Directors as on 31st March,2015 consisted of 5 Non-Executive Directors and One Executive Director. Chairman of the Board is Non-Executive and also is a Promoter of the Company. As per Clause 49 of the Listing Agreement, where the Non-Executive Chairman is a promoter of the Company, at least one half of the Board of the Company shall consist of Independent Directors. The Board of Directors comprises of 3 Independent Directors as on 31st March, 2015.

# Name of the Director Category of Directorship No. of other Directorships held No. of Board Committees of other Companies in which Member Chairman*


Mr. L. N. Goculdas

Chairman Non- Executive, Promoter Group




Mr. Bimal L. Goculdas

Executive, Promoter Group




Mr. S.V. Joshi

Non- Executive, Independent




Mr. A.W Ketkar

Non- Executive, Independent




Mr. D.T. Gokhale

Non- Executive, Independent




Ms. Mitika L Goculdas

Non- Executive, Promoter Group



  1. @ Excludes Foreign Companies, Private Companies and Alternate Directorships
  2. $ Appointed as Managing Director
  3. * Includes membership/chairmanship of Audit Committee and the Shareholders’ Grievance Committee only.

In accordance with the provisions of Clause 49 of the Listing Agreement the Board meets at least 4 times a year and the gap between two Board Meetings is not more than 120 days as per Clause 49 of the Listing Agreement four Board Meetings were held during the nine Months Period ended 31st March, 2015

The information as required under Annexure 1A to Clause 49 is being made available to the Board

None of the Directors was a member of more than 10 Board- level committees nor a Chairman of more than 5 such committees, across all Companies in which he was a Director.

The dates on which the said meetings were held are as follows:-

13th August, 2014; 19th September, 2014; 13th November, 2014 and 11th February, 2015.

Composition, Names of Members and Chairman:-

The Audit Committee comprises of three Non-Executive Directors, viz., Mr. A.W. Ketkar as Chairman, Mr. L. N. Goculdas and Mr. S.V. Joshi. Mr. S.V. Joshi is a Chartered Accountant by Profession. Mr. A.W. Ketkar is a Chartered Accountant by profession. Mr. L. N. Goculdas is also a well known Industrialist. All the Members of the Company are professionals and are also fi nancially literate within the meaning of Clause 2 Explanation 1 of Clause 49 of the Listing Agreement.

Mr. Dilip S Nagle, Company Secretary, acts as the Secretary of the Committee.

Brief description of terms of reference

The terms of reference of the Audit committee are in line with the revised provisions of Clause 49 of the Listing Agreement. The broad terms of reference of the Audit Committee are to review with the Management and/or Internal Auditors and/or Statutory Auditors in the following areas:-

  • Overview of the Company’s financial reporting process and fi nancial information disclosures.
  • Compliance with (1) Accounting Standards (2) Listing and other legal requirements concerning fi nancial statements including applicable laws and regulations.
  • Recommending the appointment and removal of internal, statutory and cost auditors and fi xation of Audit Terms.
  • Review with the Management:-
    • The annual and quarterly financial statements before submission to the Board
    • The external and internal Audit Reports, the adequacy of internal control systems
    • Review of Management Discussion & Analysis of financial condition and results of operations
    • Review of related party transactions.
Meetings and Attendance during the Nine Months Period Ended 31st March, 2015

Three Meetings of the Audit Committee were held during the Nine Months Period Ended 31st March, 2015, viz, 13th August, 2014, 13th November, 2014 and 11th February, 2015.

All the members of the Committee were present at all the three Meetings. The Statutory Auditor attended all three meetings. Internal Auditors attended all three meetings while the Cost Auditor could not attend any of the meetings.

The present Shareholders’/Investors’ Grievance Committee comprises of three Directors, viz., Mr. L.N. Goculdas (Chairman), Mr. A. W. Ketkar and Mr. D.T.Gokhale (Director).The Committee is vested with the requisite powers and authorities, which in addition to the Share transfer related matters, will specifically look into the redressal of Shareholders’ and investors’ complaints like transfer of Shares, non-receipt of Balance Sheet, non-receipt of declared dividends, etc.

In order to facilitate filing of complaints, if any, by the shareholders can place their complaints to investorcare@boraxmorarji.com.

During the financial year 2014-15, there were no investors’ complaints pending at the beginning of the year, No complaint was received during the year and no investors’ complaint is pending at the end of the year.

Contact below for any Greivances


Company Secretary and Compliance Officer
Mr. D.S.Nagle


+91-22-22638662 / +91-22-22048882


Investor Complaints


+91-22-22638662 / +91-22-22048882



Get in Touch

For any assistance, Please do write to us at info@boraxmorarji.com with details. Our team will be pleased to help you.

Contact Info

Borax Morarji Ltd.
Regd. Office
Prospect Chamber, 317/21
Dr. D.N.Road, Mumbai
Maharashtra 400001
(+91) 22 22638661 / 62
CH-5/1, GIDC,
Chemical Zone, Dahej
Taluka: Vagra,
Gujarat - 392130