|Our Company was incorporated under the Companies Act as a private limited company by the name of BS Steels and Minerals Private Limited pursuant to a certificate of registration dated January 7, 2004.
On March 31, 2004, the Company took over B. S. Steels, a proprietary concern engaged in the business of trading in iron, steel and related products. The Company was formed with the main object of acquiring the business of M/s. B.S. Steel a proprietary concern owned by one of the Promoters, Mr. Rajesh Agrawal, which was engaged in the business of trading in iron, steel and related products. With effect from April 1, 2003, the Company took over the
business of B.S. Steels as a 'going concern' basis. There was no independent valuation done for the acquisition and the same was at book value. The assets and liabilities were taken over by the Company and the balance in the Mr. Rajesh Agrawal's capital account was treated as unsecured loan in the books of the Company. No Equity Shares were allotted to the Mr. Rajesh Agrawal nor was any cash paid to him. After the acquisition, M/s. B.S. Steels has
ceased to exist.
On October 13, 2007, the High Court of Andhra Pradesh at Hyderabad approved the scheme of amalgamation ('Scheme of Amalgamation') for the amalgamation of B.S. Integrated Steel Products Private Limited ('BSIS') with our Company. BSIS was promoted by Mr. Rajesh Agrawal and was engaged in the business of manufacture and trading of iron, steel and related products. With effect from April 1, 2006 ('Appointed Date') the entire business, assets and liabilities of BSIS was transferred to our Company. Pursuant to terms of the Scheme, the shareholders of BSIS were allotted Equity Shares of our Company in the ratio of 1:14. B. S. Steels and Minerals Private Limited effectuated the Scheme of Amalgamation on December 17, 2007, which is the date on which a certified copy of the
order of the High Court of Judicature, Andhra Pradesh at Hyderabad sanctioning the Scheme of Amalgamation was filed with the RoC under Section 394 of the Companies Act. For further details of the Scheme of Amalgamation, see below.
The name of our Company was changed to BS TransComm Private Limited pursuant to the resolution of our shareholders passed at EGM dated January 3, 2008 and a fresh certificate of incorporation dated January 24, 2008, issued by the RoC. On February 7, 2008, our Company was converted to a public limited Company and the name of our Company was changed to BS TransComm Limited pursuant to the resolution of our shareholders passed at EGM dated January 3, 2008 and a fresh certificate of incorporation dated February 7, 2008, issued by the RoC. The aforesaid changes were made to the name to reflect the changing nature of the business or the constitution of our Company and/or to clearly reflect the nature of the business.
Our Company is engaged in the business of providing a range of services to telecommunication infrastructure providers for setting up their passive infrastructure and to power transmission companies for setting up their transmission lines and sub-stations. We are engaged in the manufacturing and supply of telecommunication and transmission towers, substation structures and providing service solutions to the telecommunication infrastructure and power transmission sectors. We are also engaged in the designing, building and deploying related technology products and solutions to the telecommunications sector.
Major events in the History of our Company:
BS Steels and Minerals Private Limited incorporated for the purposes of trading in steel products.
BSIS sets up a tower manufacturing facility with a capacity for 36,000 MT at Survey No. 82, 83, 92 - 95 and 107, Athvelly Village, Medchal Mandal, R. R. District, Andhra Pradesh - 501 401.
BSIS obtained ISO 9001:2000 certification for manufacturing and supply of galvanized and
ungalvanised towers. This certificate was subsequently revised in July 2008 and was issued in the name of our Company.
Received our first order for the supply of telecommunication towers.
The High Court of Andhra Pradesh at Hyderabad approved the scheme of amalgamation of BSIS
with our Company. The entire business of BSIS along with all its assets and liabilities was
transferred to our Company with effect from the Appointed Date.
Bonus issue of 68,92,600 Equity Shares was made to the then existing shareholders of the Company in the ratio of 1:1.
Achieved production of 24,034 MTPA of telecommunication and power transmission towers within the first year of commercial production.
Received first order for turnkey services for power transmission from Transmission Corporation of Andhra Pradesh Limited.
Received first order for turnkey services for setting up of telecommunication towers.
Received first order for turnkey services from Rajasthan Rajya Vidyut Prasaran Nigam Limited.
Received first order from PGCIL for supply of power transmission towers.
Backward integrated structural mill with a capacity of 90,000 MTPA as part of the Phase I expansion of our manufacturing unit at Survey No. 41, Majeedpally Village, Toopran Mandal, Medak District, Andhra Pradesh, has been commissioned and the commercial production was commenced.
PGCIL has given its approval to the Company for manufacture of galvanized tower structures and parts.
Bureau of Indian Standards has granted the license to the Company to use the standard mark in respect of the hot rolled low, medium and high tensile structural steel.
ICRA Limited has assigned LBBB- to Rs. 5,078 lakhs term loan and Rs. 14,000 lakhs fund based and A3 to Rs. 36,100 lakhs non fund based limits of the Company.
PGCIL has approved the Company?s re-rolling mill for rolling MS angle sections size 40x40x4 mm to 150x150x20 mm for PGCIL projects.
Acquired 63.25% in Sugan Automatics Private Limited by making it a Subsidiary of the Company. March 2010 SAPL has successfully deployed IDD technology solutions over 2000 telecom cell sites with shared operators at Indus sites.
Fabrication facility with a capacity of 84,000 MTPA as part of the Phase I expansion of our
manufacturing unit at survey No. 41, Majeedpally Village, Toopran Mandal, Medak District, Andhra Pradesh, has been commissioned and the commercial production was commenced.
Karnataka Power Transmission Corporation Limited has included our Company in its approved vendors list for the supply of substation structures and tower parts with bolts, nuts and washers.
ICRA has assigned LB rating to the Rs. 5078 lakhs term loan and Rs. 14,000 lakhs fund based limits of the Company and A5 to Rs. 36,100 lakhs non fund based limits.
The Company has obtained vendor registration from Maharashtra State Electricity Transmission Company Limited for supply of transmission line towers and sub-station structures for EHV transmission projects.
The Company has received a Certificate of Appreciation from Indus on August 6, 2010 for its contribution in TN Circle by achieving 99.99% uptime and entering the gold club in July 2010.
The Company has received an approval from PGCIL for rolling HT angle sections of size 40x40x4 mm to 150x150x20 mm for an initial period upto February 28, 2011.
Awards/certifications received by our Company
1.We obtained ISO 14001:2004 certification for manufacture and supply of galvanized and ungalvanised towers in 2008.
2.BSIS obtained ISO 9001:2000 certification for manufacturing and supply of galvanized and ungalvanised towers. This certificate was subsequently revised in July 2008 and was issued in the name of our Company.
3.We obtained ISO 9001:2008 certification for manufacture and sale of structural steel and bars and fabrication of structures for telecom broadcasting and power sector in 2010.