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Electrosteel Steels Ltd. Company History and Annual Growth Details

Our Company was originally incorporated as Electrosteel Integrated Limited on December 20, 2006 as a public limited company. Our Company commenced business on January 5, 2007. Our Company is promoted by Electrosteel Castings Limited for implementing a 2.2 MTPA integrated steel and D.I. pipe project in Jharkhand, India. Our Company has entered into arrangements with investors and facility agreements with a consortium of lenders to finance the project. The name of our Company was changed from Electrosteel Integrated Limited to
Electrosteel Steels Limited. The same was approved by the Board of Directors of our company on January 11, 2010 and by the shareholders in their meeting dated March 25, 2010. A fresh certificate of incorporation was granted to our Company on May 5, 2010.

The main reason for the change in the name of our Company was that the new name would convey the business of our Company in a better manner, which would help our Company enjoy better market reputation and customer’s reliance.

Major events in the history of our Company

1994
-Set up 60000 TPA Ductile Iron Pipe Plant at Khardah near Kolkata, the first ever in India

1995
-Accredited with ISO 9002 from Indian Register Quality System an Accredited body of Raad Voor de Certificate of Netherlands for our ductile Iron pipes.

1996
- The Company obtained Kitemark license from British Standard Institute (BSI) for its Dl pipes as per ISO 2531, BS EN 545, BS EN 598.The Company commissioned its own mini-blast furnace with matching capacity for better quality control.

1999
-The Company received the ISO-9002 accreditation from BSI for Dl pipes and fittings.

2000
-The Company increased its capacity to 120,000 TPA for Dl pipes.The Company obtained Kitemark license from BSI, UK for Dl fittings made at its facilities in Elavur, Chennai as per ISO 2531, BS EN 545, and BS EN 598.

2001
- The Company scaled its Dl pipe capacity from 120,000 TPA to 150,000 TPA. Mini Blast Furnace capacity increased from 1,09,000 TPA to 2,00,000 TPA.

2002
-The Company acquired 46% stake in Lanco Industries Limited in March 2002, which is involved in manufacturing of DI Pipes, Pig Iron, Cement and Castings.

2003
- The Company increased its Dl pipe manufacturing capacity from 1,50,000 TPA to 200,000 TPA. The Company also received BSI Kitemark license for Dl Fittings at Khardah works, West Bengal.

2005
-The Company raised USD 40 Million through the issue of Global Depository Receipts (GDRs) in October 2005 and become the first Indian Company to be listed on Professional Securities Market (PSM) of the London Stock Exchange (LSE) in addition to being the first Company to issue GDRs on the PSM. The Company was accorded Three Star Export House by the JDGFT, Ministry of Commerce and Industry of the Government of India.

2006
-The Company increased its Dl pipe manufacturing capacity from 2,00,000 TPA to 2,50,000 TPA and commissioned Coke Oven Plant at Haldia. The Company commissioned 12 MW Power Plant & 30,000 TPA second Kiln Sponge Iron Plant at Haldia. Mini Blast Furnace capacity increased from 2,00,000 TPA to 2,35,000 TPA. The Company successfully commissioned Pulverized Coal Injection System in Blast Furnace and Stamp. Charging System in Coke Oven Plant at Haldia, which enhanced operational efficiency. We have been allotted an Iron ore mine at Kodolibad, Jharkhand and a non coking coal mine in joint venture at North Dhadhu.

2007

Delivery and Marketing Agreement between the Company and Stemcor MESA DMCC

Subscription Agreement between the Company and Stemcor MESA DMCC

Subscription Agreement between the Company and ECL

Offshore Supply Agreement between our Company and Stemcor MESA DMCC

Implemented SAP ERP system hosted in state of the art 1000 square feet Data center connecting all manufacturing plants and sales offices across Indian Geography supporting 350 user base to enable supply chain of the Company.

2008
Coking Coal Supply Agreement between our Company and ECL

Iron-Ore Supply Agreement between our Company and ECL for supply of Iron ore - Lump and Fines

Supply Agreements between our Company and China First Metallurgical Construction Corporation Limited for supply of plant and machinery for our Project

Subscription Agreement between our Company and PGS Invest Limited

Tied up US$ 77.50 mn through ECB, commissioned 360,000 TPA sinter plant at Khardah and commissioned a 75,000 TPA coke oven battery at Haldia.

2009

Subscription Agreement between our Company and Starbridge Finance Limited further amended on January 11, 2010

Subscription Agreement between our Company and Roundabout Finance Limited

Share Subscription and Shareholders Agreement between our Company, ECL and IL&FS Financial Services

Share Subscription and Shareholders Agreement between our Company, ECL, Tara India Holdings Limited, Tara India Fund III Domestic Trust and Tara India Fund III Trust

Amended and Restated Inter-se Agreement between our Company and the consortium of lenders

Share Subscription Agreement between our Company and IFCI Limited

Commissioned fourth coke oven battery resulting in additional capacity of 70,000 TPA of coke, taking the total capacity enhanced to 280,000 TPA and 250,000 TPA respectively


2010

Change of name of our Company from "Electrosteel Integrated Limited" to "Electrosteel Steels Limited" as the proposed name would convey the correct business which our Company proposes to undertake.

Share Subscription Agreement and Shareholders Agreement executed with GPC Mauritius II LLC, a Pre-IPO Investor

Share Subscription Agreement and Shareholders Agreement executed with Franklin Templeton Asset Management (India) Private Limited, acting on behalf of Franklin Templeton Private Equity Strategy - A/c PMS, a Pre-IPO Investor on such dates, respectively

2012
-Company issues 15.20 crores fresh equity shares of face value Rs. 10/- each through preferential allotment to the Promoter of the ESL.

2013
-Mr. Jinendra Kumar Jain has been appointed as the Additional Non Executive Independent Director of the Company.

2014
-Electrosteel Steels Ltd had entered into an agreement with Electrosteel Castings Limited (ECL)
-Mr. Rajkumar Khanna has been appointed as the Additional Non-Executive Independent Director of the Company. He is also designated as Chairman of the Board of Directors of the Company.
- Mr. Anubhav Maheshwari has been appointed as Company Secretary & Compliance Officer of the Company.

2016
-Bankers soon to announce new owners for Electrosteel

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