Equilateral Enterprises Ltd. Company History and Annual Growth Details

Surya Industrial Corporation Ltd was originally
incorporated in the name of Upayan Exports (P) Ltd. on
13.12.1988 under the Companies Act 1956. Subsequently the
company was converted into Public Limited Company on 1st
November, 1994, and therafter its name was changed to Surya
Industrial Corp. Ltd on 24th November, 199 vide ROC, Kanpur
Certificate No.20-10285/1043 dtd. 24.11.94. The company has
changed ifs name to Surya Industrial Corporation Ltd., as
its wholly owned subsidiary's product, viz. tyres, brand
name "Sury" has been relatively established and and has
also been registered. Further, as the company is setting up
a unit to manufacture tyres, and as these tyres are also
proposed to be marketed under the "Surya" brand name, it
was thought logical to change the name of the company to
Surya Industrial Corporation Ltd.

The company is engaged in the manufacture of electrical
laminations and toroidal cores, which are used in
electrical transformer and panels, commenced commercial
operations from March 1990 (Unit 1). In 1993 another unit
identifiable as Unit II, commenced production. The
machines of unit I were transferred to SICL's unit called
Bharat Vidduit Unit in January, 1995. The company has been
an industrial supplier to reputed transformers and panels
manufacturers in North India like, Electra (Jaipur) Ltd.,
Uptron Powertronics Ltd., Model Transformers (P) Ltd., etc.

The company took over M/S Bharat Vidduit, a group firm
engaged in the manufacture of electrical laminations at B-9
Industrial Estate, Partapur. Meerut since 1981, at a total
consideration of Rs.23.01 lacs vide sale agreement
dt.12.09.94. M/s. Bharat Vidduit is also engaged in the
manufacture of electrical laminations for electrical
transformer and panels. The company purchased the unit
owned by Sh.Vikas Jain (one of the main promoters) and Smt.
Jaya Jain, partners in the firm, to take the benefit of
economies of scale and synergise the operations in both the
units and remove clash of interests between the units. The
sets of Bharat Vidduit have not been revalued before the
takeover. However, a premium of Rs.9 lacs (total
consideration paid less net a sets as per Audited Balance
Sheet dtd. 31.8.1994) was paid as good will to the partners
of the firm.

SICL (previously called UEPL) earned a profit after tax of
Rs.1.54 lacs. Rs.1.85 lacs, Rs.2.11 lacs, Rs.7.52 lacs for
the years 1990-91. 1991-92, 1992-93, 1993-94 (15 months)
respectively. SICL's profit from Unit II and Bharat Vidduit
Unit for the period ended 31.03.1995(9 months) was Rs. 2.80
lacs.

2012

-The Company appointed Mr. Vivek Jain as Chairman of the Board by the Board of Director of the Company.

2013

-Surya Industrial Corporation appointed Mr. Mukhtar Singh as Additional Director of the Company.

2014

-Surya Industrial Corporation Appointment of Mr. Pratikkumar Mehta as a Compliance officer of the Company.

2019

-Company name has changed to Equilaterial Enterprises Ltd. from Surya Industrial Corporation Ltd..

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