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Bhuwalka Steel Industries Ltd. Company History and Annual Growth Details

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
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