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Nava Bharat Ventures Ltd. Company History and Annual Growth Details

YEAR EVENTS
1972 - The Nava Bharat Ferro Alloys Limited (NBFAL) was incorporated.
It was Promoted by Dr. D. Subba Rao, a doctorate in metallurgy,
Sri P. Punnaiah, and Sri A.S. Chowdhri. The Company
manufacture Ferro Silicon, calcium silicide, sugar, spirit and
marine products.

1975 - The Company established a factory for the manufacture of
ferro-silicon by the end of March.

1979 - 1,37,500 No. of equity shares issued at par.

1980 - Industrial and Import licences were obtained for the setting up
of a furnace with a capacity of 2,500 tonnes per annum of calcium
silicide.

- The Deccan Sugar & Abkhari Company, Ltd., was amalgamated with
the Company with effect from 10th December. Consequently, DSA
became the sugar division of the Company.

- In terms of the Scheme of Amalgamation, 3,64,928 No. of equity
shares of Rs 10 each of the Company were allotted without payment
in cash to the shareholders of DSA in the ratio of 1 equity share
of the Company for every 5 equity shares of DSA.

- 6,87,500 bonus equity shares issued in propn. 1:1.

1981 - 3,64,928 shares allotted to members of The Deccan 1.

1983 - Approval from Government was sought for the manufacture of 8,000
tonnes per annum of calcium carbide in the existing furnace after
meeting the internal demand for calcium silicide.

1985 - A scheme of amalgamation of Beardsell Engineering Ltd., a
subsidiary of Beardsell, Ltd., with the Company was submitted to
the Central Government and to the High Courts of Andhra Pradesh
and Tamil Nadu which was approved in 1986-87.

- In terms of scheme of amalgamation, 48,000 No. of equity shares
of the Company were allotted to the members of Beardsell
Engineering, Ltd. without payment in cash in the proportion two
equity shares of Rs 10 each of the Company to every equity shares
of Rs 100 held in Beardsell Engineering Ltd.

1987 - During September, the Company issued 1,75,000 non-convertible
debentures of Rs 100 each on private placement basis. These
debentures were to be redeemed at a premium of 5% of the face
value of each debenture at the end of the 7th, 8th and 9th year
from the date of allotment.

1989 - The Company obtained a letter of intent for the manufacture of
55,000 TPA of silico manganese in the State of M.P. Also,
another letter of intent was received for manufacture of 15,000
TPA of high carbon ferro chrome in the existing furnace at
Paloncha intended for manufacture of calcium silicides as a
measure of diversification.

- The Company undertook to implement an expansion scheme for
crushing 3000 tcd in a phase manner.

- Effective from 1st April, Necessary approvals were received and
the Andhra Foundry and Machine Co., Ltd. was amalgamated with
the Company. As per the scheme framed by BIFR, shareholders of
Andhra Foundry i.e. the amalgamating company were allotted 1
equity share of Rs 10 each of the company for every 15 equity
shares of Rs 10 each held by them.

- Accordingly 12,491 No. of equity shares were allotted. Also, the
preference shareholders of the amalgamating Company were issued
35,000-14% cumulative redeemable preference shares of Rs 100 each
of the Company which were to be redeemed in 3 equal annual
instalments.

1991 - The Company diversified its product-mix as well as entered into
long-term arrangement with TISCO for supply of ferro chrome.

- The Company issued 2,00,000-18% secured redeemable
non-convertible debentures of Rs 100 each on private placement
basis with Canbank Mutual Fund.

- They are redeemable at a premium of Rs 5 per debenture in three
annual equal instalments on the expiry of 5th, 6th and 7th year
respectively from the date of allotment of debentures i.e. on
15th October.

1995 - The Andhra Foundry and Machine Co., Ltd. is a subsidiary of the
Company.

- The Nav Chrome Ltd. proposed merger with the Company.

- 42,48,417 Rights equity share of Rs 10 each for cash at a prem.
of Rs 50 per share.

1996 - 28,33,419 No. of equity shares of Rs 10 each allotted as fully
paid up persuant to schemes of amalgamation with Nav Chrome Ltd.
without payment in cash.

1997 - The Electro-Metallurgical Division was severely affected by
sluggish demand and poor offtake from domestic steel industry.

- The Company undertook to establish a unit for the manufacture of
calcium silicide. An agreement was entered into with
Energomachexport, Moscow, USSR, for the supply of machinery and
to provide the technical know-how for the project.

- NFAL, one of the largest producers of ferro alloys in the
country, hopes to reduce the energy cost of the project, which
on achieving economies of scale after the merger of the group
company, Nav Chrome Ltd, located in Madhya Pradesh,

1998 - NBFAL proposed to raise the money from shareholders on rights
shares in four equal instalments of Rs.15 each.

- The company proposes to allot them 12 per cent non-cumulative
preference shares to the extent of reduction in the premium.

1999 - NAVA Bharat Ferro Alloys Ltd (NBFAL), a Hyderabad-based company
engaged in the production of ferro alloys, sugar and power, has
embarked upon a major balancing-cum-expansion programme of its
power plant located at Paloncha in Khammam district of Andhra
Pradesh.

2000 - Due to the fire accident that occurred in the 50MW power plant situated at
Paloncha, Khammam district, AP, on August 8, one of the boilers in the
power plant was damaged and generation of power reduced to 30 MW.

2002

-Nava Bharat Ferro Alloys Limited (NBFAL), ferro alloys manufacturer, has shut down its Machine Building Division (MBD) at Nacharam near Hyderabad

2003

--An accident has occured in the Ferro Alloys Plant of the NBFL at Paloncha on Oct 6 2003

-Deccan Sugars, a company of the Nava Bharat Ferro Alloys Ltd group, has entered the retail market by introducing branded sugar

2004

-Nava Bharat Ferro Alloys Ltd has informed that they have received intimation from the Madras Stock Exchange Limited approving the voluntary delisting of the Company's scrips from the Madras Stock Exchange Limited.

-Nava Bharat Ferro Alloys Ltd has informed that the 30 MW Captive Power Plant at Dhenkanal, Orissa, of the Company has commenced commercial operations

-Nava Bharat Ferro Alloys Ltd has informed that Andhra Pradesh Pollution Control Board, Hyderabad, in recognition of excellence for the good practices in Cleaner Production and Pollution Control, awarded Certificate to the Company's Plant located at Paloncha, Khammam District, on the occasion of 'World Environment Day' June 05, 2004

2006

-Nava Bharat to launch 64 MW power plant


2007

-Nava Bharat Ventures Ltd has appointed Sri. N Prakash as IDBI Nominee on the Board of Directors of the Company.
 
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