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Ankit Metal & Power Ltd. Company History and Annual Growth Details

Ankit Metal & Power Limited (AMPL), promoted by Mr. Suresh Kumar Patni, was incorporated
on 7th August, 2002 as Ankit Steel Works Private Limited.

Ankit Metal & Power Limited was incorporated as a private limited company in the year of 2002
with the object of carrying on the business of all kind of Iron & steel Products and subsequently
amended to install the power plant with the main aim to compete & play safe in the market as
well as increase earning as the power constitute the major item of cost. Subsequently, the name
of the company was changed to Ankit Metal & Power Private limited to reflect the new line of
business of the company specifically.

Pursuant to change in the corporate status of the Company from Private to Public, the name of
the company was further changed to Ankit Metal & Power Limited with effect from 31st August,
2004.

To meet the requirement of the fund, the company approached to the bank & got a sanction of
sponge iron project from State bank of India on 07/06/2004 for an amount of Rs.1500.00 lacs.
Subsequently, Loan for Melting Shop, CCM, Power Plant & Rolling mills was sanctioned by State
Bank of India, Andhra Bank & Syndicate Bank & SBI Leads the consortium.

The company has gone for expansion of 4 MW AFBC based power plant with the aim to use the
waste generated in sponge iron plant & have a better power consistency to reduce the cost of
the products manufactured which is again funded by State Bank of India, Andhra Bank &
Syndicate Bank.

Commercial production of Sponge iron plant started on 16th October 2005. 1st & 2nd Furnaces
of Ingots Unit stared on 2nd January 2006 & 3rd Furnace stared on 12th august 2006. The
production of Continuous Casting Machine (CCM) for Billets started on 1st February, 2006.

Presently, AMPL is setting up an Integrated Steel Plant comprising of:

(i) 1,05,000 TPA Sponge Iron Plant,
(ii) 65,140 TPA Billet Casting Plant,
(iii) 1,00,000 TPA Re-Rolling Mill,
(iv) 8.5 MW Waste Heat Recovery Based (WHRB) captive power plant (utilising the waste gases
from the sponge iron plant) and
(v) 4 MW Atmospheric Fluidised Bed Combustion (AFBC) based captive power plant.

The First Phase comprising of Sponge Iron Plant has commenced commercial operations in
October, 2005.

A part of the 2nd Phase comprising of Steel Melting Shop for manufacturing of Ingots / Billets
has started production in January 2006.

The remaining of 2nd Phase comprising of Re-rolling mill and the WHRB Captive Power Plant are
estimated to be commissioned in July, 2007, whereas the AFBC Captive Power Plant is estimated
to start its operation from July, 2007.

After commencement of the entire plant, the Company will be able to produce 105,000 Mt of
Sponge iron, 65,140 Mt of Ingot / Billets, and 100,000 Mt of Rolled steel for selling in the market
or self consumption.

Information about the Company

Name of the Company Ankit Metal & Power Limited
Date of Incorporation 7th August, 2002
Registration Number 21-94979
CIN Number U27101WB2002PTC094979
Registered Office 35, Chittaranjan Avenue, Kolkata - 700 012
Corporate Office 33, Chittaranjan Avenue, 1st Floor, Kolkata- 700 012
Corporate Status Public Limited Company
Authorised Capital Comprising of Rs.350,000,000/-35,000,000 Equity Shares of Rs.10 each
Paid up Capital Comprising of Rs.20,97,55,000/-20,975,500 Equity Shares of Rs 10/- each

Major events of the Company

Year Events

August 2002 Company was incorporated as Ankit Steel Works Private Limited
July, 2004 The Name of the Company was changed to Ankit Metal & Power Pvt. Ltd.
August 2004 The Company was converted to a Public Limited Company
October 2005 Commercial Production of Sponge Iron Unit commenced
January 2006 Commercial Production of Ingots from Induction Furnaces started
February 2006 Commercial Production of Billets from Continuous Casting Plant started
August 2006 Commercial Production of Ingots from 3rd Induction Furnace started