Home  »  Company  »  Gyscoal Alloys Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Gyscoal Alloys Ltd. Company History and Annual Growth Details

The Company was originally incorporated as Shreenath Mineral Metal Private Limited on September 29, 1999 under the Companies Act, 1956 as a private limited company by the Registrar of Companies, Gujarat, Dadra & Nagar Haveli. The name of the Company was changed to Gyscoal Alloys Private Limited and a fresh certificate of incorporation consequent to the change of name was granted by Registrar of Companies, Gujarat on June 21, 2004. The Company subsequently became a public limited Company and the name of the Company was changed to Gyscoal Alloys Limited and the fresh certificate of incorporation was granted to the Company on March 21, 2006 by the Registrar of Companies, Gujarat.

Gyscoal Alloys Limited (GAL), a public limited company, was incorporated in the year 1999 as a private limited company. Initially, the Company started its business with the trading of iron and steel scraps, billets and steel long products. The company also decided to trade in mild steel products namely CTD Bars and TMT Bars. The company took over a steel rolling mill business with a capacity of 6000 MT per annum from Shah Alloys Group at Ubkhal, Mehsana and started manufacturing of rolled products in the year 2005. The rolling mill capacity was increased by another 12000 MT per annum to take the total rolling mill capacity to
18000 MT per annum in the financial year 2005-06. In the financial year 2006-07, the Company further started its Steel Melting Shop with a capacity of 12,000 MT per annum which was further increased to 18,000 MT per annum in the year 2008-09. Looking to the potential higher value addition in case of stainless steel products, the Company decided to manufacture Stainless Steel long Products in the year 2006-07. At present, the plant has the capacity to manufacture different grades of Stainless Steel products ranging between 200 series to 400 series.

The Company has expanded in various ways keeping its focus on steel. At this stage, the company was able to provide its clientele a broad spectrum of products. In pursuance of its objectives, the company is committed to maintain high standards of quality, efficient delivery schedules, and competitive prices. At present, Companys products portfolio includes Angles, Bright Bars, Black Bars, Flats, Hexagonal and Round Corner Squares (RCS) products which include channels, sections, pata-patti, full line of Round Corner Squares (RCS) and rectangles in standard sizes. The Company also manufactures squares, and Flat in sizes of the specification as per requirement of its customers.

Major Events

Following are the key events and major milestones achieved by the company:

1999-00
Incorporation of the company

2000-01
Equity Share Capital of Rs. 2.20 lacs raised by issuing 22,000 equity shares.

2004-05
The name of the company was changed from Shreenath Mineral Metal Private Limited to
Gyscoal Alloys Private Limited.

Purchased of a steel rolling unit from Shah Alloys Group with an Installed Rolling Capacity
of 6,000 MTPA.

Rs. 95 lacs raised by way of Term loan with UCO Bank.

Equity Share Capital of Rs. 123.57 lacs raised by issuing 12,35,688 equity shares.

2005-06
The Status of the company changed from Private Limited Company to Public Limited
Company with the name 'Gyscoal Alloys Limited'

Rs. 625 lacs raised by way of Term Loan with UCO Bank.

Equity Share Capital of Rs. 131.41 lacs raised by issuing 13,14,100 equity shares.

The rolling mill capacity was increased by another 12000 MT per annum to take the total
rolling mill capacity to 18000 MT per annum in the financial year 2005-06.

2006-07
Gyscoal alloys Limited got ISO 9001:2000 certification from BSI Management Systems

The Company started its Steel Melting Shop with a capacity of 12,000 MT per annum

Equity Share Capital of Rs. 40 lacs raised by issuing 4,00,000 equity shares.

2007-08
Changes in the Main Objects of the Object Clause of the Memorandum of Association of
the Company.

Company has initiated direct exports to various Far East Asian Countries.

Equity Share Capital of Rs. 115.00 lacs raised by issuing 11,50,000 equity shares.

Rs. 20 Lacs raised by the company by issuing 50,000 equity shares at a premium of Rs. 30
per share.

Bonus issue in the ratio of 6:11 was made by the company by issuing 22,75,520 equity
shares.

Rs. 226.86 lacs raised by the company by issuing 1,41,786 equity shares at a premium of
Rs. 150 per share.

2008-09
The Company increased the Capacity of its Steel Melting Shop to 18,000 MT per annum.

2009-10
Company has developed the Bright Bar Unit and started the operation of the unit during the
year.

Reschedulement of the quarterly installments of the term loan with UCO Bank.

Gyscoal alloys Limited got ISO 9001:2008 certification for the manufacture and supply of
stainless steel and mild steel based angles, channels, flats, round, square, bright, twisted
bars, billets and ingots adhering to IS 2062 & IS 1786 from BSI Management Systems

Rs.1000.00 Lacs raised by the company by issuing 15,38,460 equity shares at a premium
of Rs.55 per share.
 
Subscribe now to get personal finance updates in your inbox!