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Shri Aster Silicates Ltd. Company History and Annual Growth Details

Our Company was originally incorporated as Arbuda Steel Private Limited on August 27, 1996 under the Companies Act, 1956 vide Certificate of Incorporation bearing registration number 04-30581 issued by the Registrar of Companies, Gujarat, Dadra & Nagar Haveli. The name of our Company was changed to Aster Silicates Private Limited vide fresh Certificate of Incorporation dated April 13, 2006. Our Company was converted into a public limited company vide fresh Certificate of Incorporation dated December 4, 2009 and consequently the name of our Company was changed to Aster Silicates Limited. Our Company has been allocated Corporate Identification Number U27609GJ1996PLC030581. The Promoters of our Company are Mr. Mahesh A. Maheshwari and Mrs. Namrata M. Maheshwari.

Our Company was initially promoted to carry on the business of iron and steel under the name of Arbuda Steel Private Limited. However, we did not pursue the iron and steel business and we initiated the business of manufacturing sodium silicates under the trade name of Sterling Chemical Industries, proprietor - Arbuda Steel Private Limited and started commercial production of Sodium Silicate in July 1997 at the Kheda Unit with a capacity of 12 MT Glass/day. Currently, our Company operates from two units in Gujarat having an aggregate installed capacity of 150 MT of glass/day. Our promoter, Mr. Mahesh A. Maheshwari had his interests in the field of designing, combustion, during and after graduating as a Mechanical Engineer from L.D. Engineering College, Ahmedabad, he took forward his interests in designing energy saving furnaces and process technology in the area of sodium silicate, by promoting our Company. As
on date, our Company has 36 members.

Major Events:

* Incorporated the Company in 1996

* Started commercial production of Sodium Silicate in July 1997 at the Kheda Unit with a capacity of 12 TPD

* Modified the furnaces to single pass regenerators in 2004-05 for fuel efficiency (Kheda unit)

* Converted the furnace into a double pass regenerators in 2005-06 (Kheda unit)

* Converted the furnace into a triple pass regenerators in 2006-07 (Kheda unit) capable of running on coal and natural gas

* Furnace at Kheda modified to allow use of biogas and other multi-fuels as an alternate fuel in 2007-08

* Started commercial production at the Bharuch Unit with a capacity of 50 TPD in April 2008

* Signed an agreement with a German Public Company for carbon credit offset for switching the fuel source from conventional fuel source to biogas in 2008-09 (both Kheda and Bharuch unit).

* Further modified all the furnaces in 2008-09 to allow operation using 100% biogas.

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