About AACL

Ashok Alco - chem Limited (AACL) was incorporated as a Public Limited Company on 18th November 1992 under the Companies Act, 1956 in Maharashtra. The Company was promoted by the Kadakia family for manufacturing and marketing of Industrial Alcohol, Acetic Acid and other downstream products like Ethyl Acetate for industrial use in pharma, ink, paint, adhesive, resin, flexi packaging, perfumery and many other industries.

Shri. Manilal H.Kadakia, the patriarch, freedom fighter, fondly called ‘Papaji’, was the founder Chairman having several decades of business experience in Cotton Trade and various other Chemical Companies.

The manufacturing facility was set up at Mahad MIDC, Maharashtra which is 170 kms from Mumbai and offers excellent logistics facility being very close to JNPT port terminal. The plant is spread over a land area of about 28000 sq.mts. Apart from this, the Company also has a residential plot ad-measuring 2438 sq.mts and buildings for residential quarters for its employees.

The Company’s plant is one of the leading alcohol based facility currently having installed capacity to produce 13,000 MTs of Glacial Acetic Acid, 30,000 MTs of Ethyl Acetate and 10,500 MTs of Acetaldehyde per annum.

Apart from the manufacture of Chemicals, the Company also commenced trading in some mineral products mainly for exports from the year 2009 which has given a substantial boost to the top line figures and a ramp-up in revenues as well as profitability.

We maintain a superior level of integrity in interactions with business partners and associates.

Board of Directors.


1. Mr. Manan Shah
(Non Executive, Non Independent Director)

Mr. Manan Shah is a Bachelor of Financial Markets from Mumbai. Over the last ten years, he has successfully promoted and managed projects in diverse fields Oil Refining Clay, Industrial chemicals, Environmental technologies, Pharmaceutical Intermediates and Advanced Refractory Materials. Mr. Manan Shah has a strong track record of placing research & product development at the core of his business strategy.  

2. Mr. Ketan Shrimankar
(Non-Executive, Independent Director)

Mr. Ketan Shrimankar is a Chartered Accountant with over 35 years of experience. He is currently fund manager with a SEBI registered Cat III fund. As a practicing Chartered Accountant in the past, he is well versed in fields of company law, audit and taxation. As a management consultant, he is involved in guiding multiple startups and SMEs. He is also on the advisory board of several startups. 

(Non Executive Independent Director)

Manoj Ganatra is Commerce and Law Graduate and a Fellow Member of the Institute of Chartered Accountants of India. He is a practicing Chartered Accountant and a Managing Partner of one of the oldest Accounting Firm of the Country, M/s SANGHAVI & Co. since 1989. Audits, System Analysis and Evaluation, Company Law matters, Business Restructuring and Advice and Investment and Tax Planning are the main areas of his interest in which he is practicing. He is a Past Chairman of the Bhavnagar Branch of the WIRC of the Institute of Chartered Accountants of India and a Past President of the Bhavnagar Chartered Accountants’ Association and Vice President of Income Tax Bar Association – Bhavnagar. He is a trustee of several charitable organizations and a member and past editor of the Rotary Club of Bhavnagar. He has been associated with SNDT Women’s’ University and Sikkim Manipal University as a visiting faculty for BBA and MBA students. He is also on the Board of several public and private companies. 
He is Chairman of the Audit Committee of Board of Directors of the Company. 

(Non Executive Independent Director)

Mr. Shekhaar Shetty is a commerce graduate from University of Mumbai and also holds LLB degree from renowned Government Law College, Mumbai. He is an Independent lawyer by profession and has 17 years of vast experience of practice in Criminal & Family Courts. He is a panel member of Lok-Adalat and advisory member and panel advocate for legal aid cases. He has actively participated and attended various Legal Seminars held by the legal fraternity and Bar Councils of Maharashtra & Goa. 

Mr. Shekhaar Shetty was the Joint Secretary of Borivali Advocates Bar Association from 2012-13 and was the Secretary of Borivali Advocates Bar Association from 2013-2014 and 2014-2015. He has attended various Mediation Seminars held in Metropolitan Centre of courts, Borivali.

5.Ms Hina Shah
(Non-Executive Independent Director)

Ms. Hina Shah is a graduate in Interior designing from JJ School of Arts, Mumbai. She has rich work experience in the field of Architecture and has worked with the known names like Architect Hafeez Contractor. She is well versed with business management and development.  

Addendum to Code of Conduct


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