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STI India Ltd. Company History and Annual Growth Details

1984 - The Company was incorporated on 7th August, as a public limited
company and obtained the Certificate of Commencement of Business
on 1st January, 1985. It was promoted by Steel Tubes of India
Ltd. (STI), Dr R B Baheti and Shri K N Garg in technical and
financial collaboration with Carl Froh Rohrenwerk GmbH & Co.,
West Germany. The company manufacture of Double Walled Copper
Brazed (DWCB) tubes in the diameter range varying from 3.18 mm to
10mm and thickness of 0.5 to 2.25 mm, required by the industries
such as automobile and refrigeration.

- The Company set up a plant at Dewas in Madhya Pradesh to
manufacture DWCB tubes. Plant and Machinery both imported and
indigenous were erected.

- The Company entered into a technical and financial collaboration
with Carl Froh Rohrenwerk GmbH & Co. of West Germany. Carl Froh
provided total technical know-how for the manufacture of DWCB
tubes and also subscribed to 15% of the equity capital of the

1986 - 700 shares subscribed for by the signatories to Memorandum of
Association. 29,99,300 share were then issued at par out of
which the following shares were reserved and allotted on a firm

- (i) 5,99,900 shares to Steel Tubes of India Ltd. (promoter);

- (ii) 4,99,400 shares to other Indian promoters, directors, etc.;

- (iii) 4,50,000 shares to Carl Froh Rohrenwerk of West Germany on
repatriation basis;

- (iv) 3,00,000 shares to UTI and

- (v) 50,000 shares to NRIIs on repatriation basis.

- Out of the remaining 11,00,000 shares the following shares were
reserved for preferential allotment;

- (i) 3,00,000 shares to NRIs on repatriation basis (all were taken
up) and

- (ii) 1,50,000 shares to employees etc./workers of the Company and
those of Steel Tubes of India Ltd. (none were taken up).

- The balance 6,50,000 shares, along with 1,50,000 shares not taken
up by employees, etc., were offered for public subscription
during October 1986. Additional 2,00,000 shares were allotted to
the public to retain oversubscription.

1988 - 14%-Debentures aggregating Rs 100 lakhs were privately placed
with UTI. These debentures are redeemable in 15 half-yearly
instalments commencing from November, ending in November 1995.

1989 - The copper plating plant was commissioned.

- As a part of Company's restructuring, investment in the Biplus
investment & Finance Limited, the wholly-owned subsidiary of the
company was disposed of and under provision of Section 212 of the
Companies Act, 1956, the Company does not have any subsidiary as
on 31st March, 1997.

1991 - During the year, functioning of the copper plating plant acquired
momentum through steady improvements in yield and quality.

1993 - During the year, the Company commissioned the industry's most
sophisticated high-capacity production facility for

- The Company issued rights issue of 800,000 shares of Rs 10 each
at a premium of Rs 15 per share in the ratio of 1:4.

1994 - The Company was in the process of obtaining new manufacturing
equipment and new technology to produce new types of tubes with
special coatings and to improve the productivity in key areas of
Company's operation.

- The Company undertook a major diversification project in the
textile sector. The Company was in the process of setting up a
60,192 ring spindle capacity spinning mill at Madhya Pradesh.

- The name of the Company was changed from STI Biplus Tubing
(India) Ltd. to STI India Ltd.

- 8,00,000 rights equity shares allotted at a premium of Rs 15 per
share in prop. of 1:4.

1995 - During the year the Company commissioned a sophisticated
high-capacity production facility for manufacturing ready-to-use
condensers for the refrigerators.

- The Company entered into a Memorandum of Understanding with Sanoh
Industrial Company Ltd., Japan an internationally renowned
manufacturer of core fluid handling related products.

- As per the said memorandum of understanding Sanoh provides for
setting up a fabrication unit of brake/fuel line components near
Gurgaon, for supply to the customers of Automobile segment
specially Maruti Udyog Ltd. and also proposed transfer of
technology for reinforcing the existing double-walled tube
manufacturing at Dewas.

1996 - The Company signed a joint venture agreement with Sanoh
Industrial Company Ltd. Japan and incorporated a new joint
venture company viz. STI Sanoh India Ltd. with a capital of Rs
20.40 crores contributed equally in the ratio of 50:50 by both
the companies.

- The Company proposed to issue 40,00,000 No. of equity shares on
rights basis to the existing shareholders in the ratio of 1:1 to
finance the project cost of diversification in textile industry.

- Biplus Investment & Finance, Ltd. is a subsidiary of the Company.

- STI India Vidyut Private Ltd. is a subsidiary of the company.

1997 - STI Sanoh has taken over the operations of tube division with
effect from 1st May and has set up a new fabrication unit to
manufacture brake/fuel line components near Gurgaon.

- 135,00,000 No. of equity shares allotted on private placement
basis to FIIS at a prem. of Rs. 27 per share.

1998 - STI India Ltd, a part of the STI group, proposes to increase
its production capacity by 25,000 spindles every year. By 2005,
it plans to be the single largest unit in the world.

- The company has entered into an agreement with Petronet to supply
LNG. It has also entered into a fuel supply agreement with IOC
as a back-up arrangement.

- The Company's state-of-the-art Plant was inaugurated on 12th

1999 - The Company has enlarged its market base by successfully catering
to the needs of its customers for single and double walled copper
coated tubes and other value added products in various segments.

- STI India Vidyut Limited has been promoted as a subsidiary
Company to put up facilitates to cater the power needs of the
Company. For this purpose the subsidiary Company proposes to set
up a 25 MW furnace oil based captive power project adjacent to
the Company site.

- STI India Vidyut have identified a new overseas partner i.e.
Rolls-Royce Power Ventures Overseas Limited for this purpose with
whom a Memorandum of Understanding (MOU) has been entered into to
implement 25 MW captive power project divided in two phases.


-Sti India launched the E-mail ID of the Compliance Officer of the Company "share@stitextile.net" has been placed on the company's official website www.stitextile.net.


- Sti India Ltd has appointed Mr. Raj Kumar Bhawsar, qualified member of ICSI, as Assistant Company Secretary in place of Mr. Mukesh Kumar Garg to take care of Company's Secretarial duties.


- STI India Ltd has appointed and inducted Shri Upkar Singh Kohli as Special Director on the Board of Directors of the Company.


-Mr. A. Arumugham has been appointed as an Additional Director on the Board.


-Mr. S. D. Naik, Chief Financial Officer of the Company has been appointed as the Compliance Officer of the Company.