The Company was originally incorporated, on 18-08-1981 as Bhuwalka Steel Industries Private Limited and subsequently converted as a public limited company on 17-07-1987. The Company is presently engaged in the manufacture of rolled steel products- plain as well as cold twisted deformed bars, Plain round bars, Flats, Squares, Light Angles, Light Structural and Coils in its three units at Bangalore, one near Bombay and one at Kanchipuram near Madras. The Company is also manufacturing ingots at its unit at Kolar near Bangalore. Further, during the current year the Company has taken steps to set up two new units- at Kanchipuram, in the State of Tamilnadu and at Wada, in the State of Maharashtra- for the manufacture of steel rolled products. The Company commenced commercial operations in the year 1983 and achieved a turnover of Rs.6 Crores for the year 1984-85. During the last 10 years the Company has continuously been pacing up the turnover and the profitability and for the year ending June, 1995 the Company has achieved a turnover of Rs. 18235.79 lacs and PAT of Rs.513 lacs. The Company has been declaring dividend uninterruptedly for the last 9 years and for the year 1994-95 the Company has proposed a dividend of 25%. The Company is a conversion agents for Rashtriya Ispat Nigam Ltd., who supply the steel billets to the Company which are converted into cold twisted bars/rods as per the requirements of the principal. The details of conversion work executed by the Company for its principals during the last 3 years are as below: ------------------------------------------------------------ Year Quantity Total converted (MT) Production (MT) ------------------------------------------------------------ 1992-93* 22628.67 67047.51 1993-94 21388.80 66754.65 1994-95 18192.00 121782.00 ------------------------------------------------------------ (* 15 months) 2000 -The Expansion and Modernisation of Wada Unit has been completed and the project was commissioned on 1st June. 2005 -Bhuwalka Steel forays into rebars segment. -The Company appointed Sri Suresh Kumar Bhuwalka as Chairman & Managing Director of the Company -The Company recommended Dividend @ 12.5% on Cumulative Redeemable Preference Shares. 2006 -The Company recommended dividend @ 15% on equity shares. 2007 -The Company has recommended normal dividend @ 15% and additional 10% as special dividend for the silver jubilee year (Total 25%) on equity shares. 2008 -The Company has taken over 299900 nos equity shares of Rs 100/- each @ Rs 334/- per share in Benaka Sponge Iron Pvt. Ltd, Bellary (BSIPL) by way of all cash deal of INR Rs 10.02 Crores. -The Company has entered into Joint Development Agreement (JDA) with Soul Space Realty Ltd (a B.L. Kashyap Group Company) pursuant to the MOU for joint development of Bangalore property where presently a TMT mill is situated. -The Company recommended equity dividend @ 20% 2009 -The Company has received order to the tune of Rs 40 crores form Paschim Gujarat Vij Co. Ltd / Madhya Gujarat Vij Co. Ltd., / Dakshin Gujarat Vij Co. Ltd., / Uttar Gujarat Vij Company Ltd., for supply of Mild Steel long products. 2011 -Bhuwalka Steel Industries has given the Bonus in the Ratio of 1:1 |