Balaji Galvanising Industries Ltd. was originally incorporated
 as a private limited company on 12th December 1989 at Hyderabad.
 The Company was subsequently converted into a public limited
 company in terms of special resolution passed on 21st June 1994
 and obtained a fresh certificate of incorporation on 4th July
 1994 from the Registrar of Companies, Andhra Pradesh.
 
 The Company is engaged in the manufacture of Galvanised Iron
 wires at their manufacturing unit located at Survey no. 10,
 Gaddapotharam Village, Jinnaram (M), Medak District, Andhra
 Pradesh with an installed capacity of 5,000 TPA.  The commercial
 production for the existing unit was commenced in August 1990.
 
 PRESENT BUSINESS
 
 The Company is already engaged in manufacture of M.S Galvanised
 Iron Wire of different gauges (upto 1.6 mm) with an installed
 capacity of 5000 TPA at the existing plant located at
 Gaddapotharam Village in Medak district in Andhra Pradesh.
 
 The Company proposes to take up the following diversification
 programme at the same location:
 
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                                          Existing      Proposed
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 Galvanised Iron (GI) Wires               5000 TPA          -
 
 High Carbon Bare Wires                       -          5544 TPA
 
 High Carbon Galvanised Wire (ACSR)           -          5544 TPA
 
 Stainless Steel Wire                         -          1585 TPA
 ----------------------------------------------------------------
 
 The financial position of the company for the last four years of
 operation are given below:
 
                                              (Amount Rs.in lacs)
 -----------------------------------------------------------------
 Particulars       March'91 March'92 March'93 March'94 Upto Oct'94
 -----------------------------------------------------------------
 Installed Capacity 5000 TPA 5000 TPA 5000 TPA 5000 TPA 5000 TPA
 
 Capacity Utilisation 2324%     41.15%   44.46%    60.29%   54.41%
 
 Turnover             86.05     218,39  312.06    529.08   284.29
 
 Job work charge       2.43      15.84    7.41       -        -
 
 Other Income          1.78       1.83    0.05      2.12     0.90
 
 PBlD                  1.28      12.90    9.23     25.37    13.10
 
 Interest              2.99       9.63   11.68      8.71     5.79
 
 Depreciation          4.23       5.81    5.81      2.61     2.02
 
 Provision for Tax       -          -       -         -        -
 
 Excess Depreciation     -          -       -       8.64       -
 
 written back
 
 Profit After Tax    (5.94)     (2.54)  (8.28)     22.67     5.28
 
 Share Capital       20.66      20.86   20.86      20.86    26.31
 
 Reserves & Surplus  (5.94)     (8.48) (16.76)      5.91    11.19
 
 E.P.S. (Rs.)           -           -       -       6.74     3.44
 
 (annualised)
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 NOTE:
 
 1.  The working for March'91 is for 7 months only.
 
 2. During the year ended March'94 the Company has changed the
 method of depreciation from written down value method to
 straight line method and the excess depreciation provided for
 earlier years has been written back.
 
 MAIN OBJECTS OF THE COMPANY
 
 The main objects of the Company, as set out in the Memorandum Of
 Association are as under:
 
 1. i) To carry on the business of manufactures of and dealers in
 all types of ferrous and non ferrous wire and wire products
 including galvanised wires H.B wire, M.S. wire .G.l.wire, Barbed
 wire, Stay wire, Weldmesh, Chain Links. Wire Nails and other
 similar wire products.
 
 ii) To manufacture, purchase, sell, export, import and deal in
 all types of wires insulated wire and wire products in all its
 branches and departments.
 
 2. To carry on the business of Iron founders, metal moulders,
 steel makers, steel rollers, non-ferrous metal founders,
 mechanical engineer and manufacture, suppliers and or dealers in
 railway materials, agricultural implements tools, implements,
 machinery and machinery parts of all descriptions, cables,
 electrical goods and appliance, wires, hardware of all
 varieties, metal wire of every description, brass founders,
 metal worker, Iron & steel coverters, moulders, engineers, and
 to carry on any other business manufacturing or otherwise, which
 may seem to the Company capable of being conveniently carried on
 in connection with the above or otherwise.
 
 SUBSIDIARIES OF THE COMPANY
 
 The Company has no subsidiaries at present.