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Gallantt Ispat Ltd. Company History and Annual Growth Details

Our Company was incorporated as Gallantt Ispat Limited on February 11, 2005 and received its Certificate for
Commencement of Business on February 16, 2005, under the Act, with CIN U27109 WB2005PLC101650 of 2005
with the Registrar of Companies, West Bengal.

On February 11, 2008 our Registered Office was shifted from 21, Hemant Basu Sarani, 3rd
Floor, Room No-306,
Kolkata-700001 to Ashyana, 29C, Bentinck Street, Kolkata - 700 069, West Bengal, India, our present address.

Further, pursuant to Board resolution dated June 24, 2010, the registered office of our Company was changed from
Ashyana, 29C, Bentick Street, Mizzen Floor, Kolkata - 700 069 to 11, Crooked Lane, Second Floor, Kolkata - 700
069. These changes were carried out to enable greater administrative efficiencies.

Our company is one of the growing companies in Uttar Pradesh engaged in the manufacturing and marketing of
Sponge Iron, Mild steel billets, Re-Rolled products (TMT bars) and Flour.

Our Company is promoted by Mr. Chandra Prakash Agrawal, Mr. Prem Prakash Agarwal, Mr. Nitin M Kandoi, M/s
Chandra Prakash Agarwal & Sons HUF and M/s Gallantt Metal Ltd.

Our Company was incorporated with a view to setup an integrated steel plant and modern roller flour mill at Sector-
23, GIDA, Sahjanwa, Gorakhpur- Uttar Pradesh, to manufacture Sponge Iron, Mild steel billets, Re-Rolled products
(TMT bars), flour. Considering the power requirements of our existing manufacturing facilities, our Company also
proposes to setup a captive power plant to meet its present requirement of power.

Our Company has already commenced commercial productions for Mild steel billets, Re-Rolled products (TMT
bars) in May 2009 and flour in March 2009. Our Company also proposes to expand its business into Sponge iron
production and has commenced the trial production in September, 2010..

Our Company has appointed M/s Industrial Technical Consultant, Raipur (ITCR) as its technical consultant for the
proposed Sponge Iron Plant, M/s Akal Sahae Engineers for the Rolling Mill Division and M/s. Avant Garde
Engineers and Consultants Pvt. Ltd., Chennai (AGECPL) will be appointed for the Captive Power Plant. Incase of
Mild steel billets, M/s Gallantt Metal Limited, our promoting Company, has already developed a technical team at
its existing Gorakhpur plant and Bhuj, Gujarat plant. The same team has been utilized for setting up the Mild steel
billets plant.

The in house consumption of entire Sponge Iron to manufacture billets which is further rolled into TMT bars along
with installation of captive power plant to utilize the waste heat would improve the profitability of the project
thereby making it economically more viable.

At GIL, success is measured in terms of customer satisfaction and quality that is built into every product. The value
of commitment to quality is also cherished by each of the 297 staff members. Our Company has met standards of
Bureau of Indian Standards and has received the IS 1786:2008 certification for high strength deformed steel bars for
concrete reinforcements (TMT).

Setting up the integrated steel plant and flour mill in Gorakhpur, Uttar Pradesh also provides our Company with
benefits like Interest free loan equivalent to Sales Tax Amount for a period of 15 years, Transport subsidy for 15
years, 20% subsidy of fixed capital investment, 5% additional subsidy of fixed capital investment being first unit
under this scheme and Exemption of Mandi tax-2% on wheat purchase, among other benefits.

On October 1, 2007, the General Investment Division of Gallantt Udyog Limited demerged into our Company. The
scheme was approved by the High Court of Calcutta on June 18, 2008. Pursuant to the scheme, 1,63,49,632 Equity
Shares were allotted to the shareholders of Gallantt Udyog Limited, as on the effective date.

On April 1, 2008, Zircon Commercial Private Limited, D.R. Advisory Services Private Limited, Mantra Vanijya
Private Limited, Dynasty Sales Private Limited, Sridhar Tie-Up Private Limited, Sanhati Tradlink Private Limited
d Mrinmoyee Sales Private Limited amalgamated with our Company. The Scheme was approved by the High
Court of Calcutta on March 12, 2009. Pursuant to the scheme, 4,50,000 Equity Shares were allotted to the
shareholders of our Company as on the effective date.

Major Events:

Year Events

February 11, 2005 Incorporation of the Company

February 16, 2005 Received Certificate of commencement of Business

September 30, 2007

Issued bonus shares to our members in the ratio of seven Equity Shares for every three
Equity Shares held

October 1, 2007

General Investment Division of Gallantt Udyog Limited demerged into our Company


April 1, 2008

Zircon Commercial Private Limited, D.R. Advisory Services Private Limited, Mantra
Vanijya Private Limited, Dynasty Sales Private Limited, Sridhar Tie-Up Private Limited,
Sanhati Tradlink Private Limited and Mrinmoyee Sales Private Limited amalgamated with
our Company

November 17, 2008

Entered into a consortium agreement with the State Bank of India, State Bank of Mysore
and the State Bank of Patiala for availing an amount of Rs. 12,600 lacs

March 4, 2009

Start of commercial operations of flour mill with an installed capacity of 1,08,000 MTPA
May 11, 2009 Start of commercial operations of steel melt shop with an installed capacity of 1,62,380 MTPA

Start of commercial operations of rolling mill with an installed capacity of 1,67,400 MTPA

October 15, 2009

Received quality certification, IS 1786:2008 from the Beaureau of Indian Standards for high
strength deformed steel bars and wires for concrete reinforcement (TMT)

April 30, 2010
Vide letter number PRJ - 2006 - Subsidy/783 dated April 30, 2010, our Company received
a sum of Rs. 24.28 crores from the Government of Uttar Pradesh, towards part disbursement
against the capital and infrastructure subsidy.

September 06, 2010 Commenced the trial production of our Sponge Iron Unit.
 
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