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Ahmedabad Steelcraft Ltd. Company History and Annual Growth Details

BRIEF HISTORY AND BUSINESS OF THE COMPANY

AHMEDABAD STEELCRAFT LIMITED was originally set up as a
partnership firm in late sixties. The Company had lot of teething
troubles at the initial stage for getting rolling technology and
also non-availability of raw materials. Thereafter, the
operations of the Company was streamlined in 1972 when the
partnership firm was dissolved and the unit was converted into a
private limited company vide Incorporation on 14th July, 1972
under the name and style of Ahmedabad Steelcraft & Rolling
Mills Pvt. Ltd. Subsequently the name of the Company was changed to
its present name on 2nd January, 1989. A fresh certificate of
Incorporation was obtained consequent to the change in the name
from the Registrar of Companies, Gujarat.

The Company initially started its operations by manufacturing most
commonly used structurals like rods, flats, etc. and gradually
gained expertise to roll hi-tech Sections. Subsequently, the Company
also ventured into rolling more complicated Sections and full
range of ISI, British and Belgium Standard Sections. Today the
Company is a leading and largest manufacturer of Mild Steel Window
Sections, Door & Ventilator Sections and Special Profiles. It is
also a leading exporter of the Sections for the last several
years and has won many awards from the Government of India.

(Source : Letter issued by Gujarat Re-Rolling Mills Association)

Over the years, the Company has carved out a niche for itself in the
relatively difficult field for rolling steel profiles and
sections to stringent international accuracy levels which speaks
of the quality of equipment structure as well as the
technological know-how possessed by the Company. The Company has been
continuously updating the equipment structure and facilities
from time to time over the years to keep abreast of
technological developments and market demands, especially in
window sections. Today it is the only company in India which
has successfully mastered the manufacture of the entire range of
window sections. The Company offers forty different range of window
sections as against 4 or 5 commonly used sections offered by a
very large percentage of window sections manufacturers.

The Company has developed complicated Sections which were import
substitutes catering to the requirements of host of other
industries such as Automobiles, Constructions, Earth Moving,
Engineering, Railways & Textiles.

Then Company's entire production activity is based on indigenous
know-how as generated by its own R & D activity and none of it
has been acquired with a foreign tie-up or collaboration. The Company
was also associated with the ISI in setting standards for
Window Sections in the Country.

The Company also has a large and well developed export base. It
started its export activities way back in 1977. Over the past
few years the Company has been consistently shipping 30% of the
production to the shores of various countries including the
United States of America, Canada, Singapore, Hong Kong, Egypt,
Mauritius, Sierra Leone, Kenya, Uganda amongst others. For its
excellent export performance, the company has received export
awards from Engineering Export Promotion Council for 1976-77,
77-78, 78-79 and 80-81.

For the past few years, the Company has been working as supportive
manufacturer of Tata Iron and Steel Company Ltd. (TISCO) for
their Engineering Exports Division.

The Company now proposes to expand its present capacities and upgrade
its manufacturing facilities. It also proposes to generate 0.5
MW of electric power by installing 2 Wind Mills.

2004

-Board recommends dividend of 7.5%.
2009

- Ahmedabad Steelcraft Ltd has appointed Mr. Rajeev Gandhi as Additional & Independent Director on the Board of Company effective from September 16, 2009.

2010
-Registered Office of the Company has been shifted To 401, 637 Complex, Panchvati 2nd Lane, Gulbai Tekra, Ahmedabad - 380 006.

2011

-Board recommends Dividend of 10%.

2012
-The Board of Directors of the Company have recommended a Dividend @ 10% i.e. Re. 1/- per Equity share of Rs.10/-each.

2013
-The Board of Directors of the Company has recommended dividend of Re. 1/- per share on 4092000 equity shares of Rs. 10/- each.

2014
-The Board of Directors of the Company has appointed Mr. Shrujal Patel as an Additional Independent Director.

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