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Rathi Steel and Power
BSE: 504903|ISIN: INE336C01016|SECTOR: Steel - Rolling
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Company History - Rathi Steel and Power
In the 1940s late Shri Gordhan Das Rathi and his two brothers 
 viz. late Shri Kanhaiya Lal Rathi and late Shri Chhuttan Lal Rathi, 
 setup a Steel Rolling Mill in Delhi under the name and style 
 'Rathi Steel Rolling Mill. The sharing pattern in this mill was - 
 45% of Shri G.D. Rathi and 27% each of Shri K.L. Rathi and 
 Shri C.L. Rathi.
 
 Shri G.D. Rathi (Group-A) had six sons, namely:
 
 1. Shri Prem Ratan Rathi (A.1)
 2. Shri Ram Chandra Rathi (A.2)
 3. Shri Punam Chand Rathi (A.3)
 4. Shri Kamlesh Kumar Rathi (A.4)
 5. Shri Arun Kumar Rathi (A.5)
 6. Shri Anil Rathi (A.6)
 
 Shri Kanhaiya Lal Rathi (Group-B) had only one son, namely 
 Shri Chand Ratan Rathi.
 
 Shri Chhuttan Lal Rathi (Group-C) also had only one son, 
 namely Shri Hari Kishan Rathi.
 
 In the late sixties/ early seventies, Shri G.D. Rathi renounced 
 his 45% share in Rathi Steel Rolling Mill, in favour of his sons 
 Shri Prem Ratan Rathi (9%), Shri Ram Chanrda Rathi (9%), 
 Shri Punam Chand Rathi (9%), Shri Kamlesh Kumar Rathi (9%), 
 Shri Arun Kumar Rathi (3%), Shri Anil Rathi (3%) and his wife 
 Smt. Chautha Devi Rathi (3%).
 
 During those years (1970s) there was a division between the 
 three brothers and the business activities of Rathi Steel Rolling 
 Mill were divided into two parts - one part to Group-A (Shri G.D. 
 Rathi and his sons) and the other part to Group B&C (Shri 
 Kanhaiya Lal Rathi with his son Shri Chand Ratan Rathi and 
 Shri Chhutan Lal Rathi with his son Shri Hari Kishan Rathi).
 Group-A formed their part as M/s G.D. Rathi Steels Pvt. Ltd., 
 and Group-B&C joined together and formed their part as 
 M/s K.L. Rathi Steel Ltd.
 
 Later on Group-A also established two more units at Ghaziabad, 
 namely:
 
 1. M/s Rathi Ispat Ltd (Mini Steel Plant) at Ghaziabad.
 2. M/s Rathi Udyog Ltd (Rolling Mill) at Ghaziabad.
 
 And Group B&C established M/s Rathi Alloys & Steel Ltd. at 
 Ghaziabad and Alwar. However, in around 1975 there was a 
 division amongst them and Group-B took over the control of 
 M/s Rathi Alloys & Steel Ltd. and Group-C took over 
 M/s K.L. Rathi Steel Ltd.
 
 Major events in our history are given below:
 
 IMPORTANT MILESTONES:
 
 Date/Year                                          Milestone         
                                   
 
 December 17, 1971           Company was incorporated.
 
 January 11, 1972                Started installation of Rolling Mill
 plant at
                                                  Ghaziabad.          
          
 
 February 7, 1973                 Commercial production started.
 
 August 29, 1973                  Company entered the capital market
 with an equity
                                                  issue of 3,80,000
 Equity Shares of Rs.10/- each.
 
 1976-77                                 Wire Rod Mill was setup.
 
 1977-78                                 Company came under Grade A of
 ISI
 
 1981-82                                 Term Loan was sanctioned by
 Pick up for rolling
                                                  lower diameters of
 Wire Rods.     
 
 1982-83                                  Expansion program for
 rolling lower diameters of
                                                  wire rod completed. 
          
 
 1983                                        Expanded the installed
 capacity from 25,000 TPA
                                                  to 95,000 TPA       
      
 
 1985-86                                  Increase in the Paid up
 Capital via Rights Issue
 
 1989-90                                   * Bonus shares issued in
 the ratio of two
                                                  Bonus shares for
 every five existing equity
                                                   shares.            
                            
             
                                                   * Company made a
 Rights Issue, of Equity Shares
                                                  which was
 over-subscribed    
 
                                                   *  Company
 undertook expansion/diversification/
                                                   modernization
 program with the financial
                                                    assistance of the
 IFCI.
 
 1992-93                                  
 Expansion/diversification/modernization program
                                                   was completed.     
         
 
 1993-94                                  Company made a Rights
 Issue.
 
 1999-2000                             Company obtained ISO
 Certification. ISO 9002 was
                                                  granted for its
 quality products.   
 2001
 
 -Start of production of TMT bars under THERMEX technology.
 
 2003
 
 -The Company has recommended a dividend @ 10% on the equity shares of
 the company ie Rs 1 per share, total amounting to Rs 4.637 million.   
           
 
 2004
 
 -The Company has recommended a dividend @ 10% (i.e. Re 1/- per share)
 on the equity shares of the Company.
 
 2005                          
 
 -The Company Expanded the installed capacity from 95,000 TPA to
 1,25,000 TPA.            
 
 -Installation of High Speed No Twist Block Mill for producing high
 quality wire rods.   
 
 -The Company Signed an MoU with the Government of Orissa for setting
 up an Integrated Steel Plant at Sambalpur District.                  
   
 
 -Company also appointed OSIL as a Technical Consultant to supply
 know-how, basic engineering, detail engineering and rendering
 services for training & commissioning assistance.
 
 -Installed Steel Melting Shop of 40,000 TPA.
 
 -The Company has received sanctions from Bank of Baroda (BoB) and
 Syndicate Bank for its upcoming Integrated Steel Plant at Sambalpur
 (Orissa). 
 
 2006
 
 -Commencement of Production of Alloys Steel/Stainless Steel.
 
 2007
 
 -The Company has recommended dividend of 5%.
 
 2008
 
 -Company name has been changed from Rathi Udyog Ltd to Rathi Steel &
 Power Ltd.
 
 -The Company has recommended dividend @ 5% 
 
 2009
 
 -The Company has proposed Dividend @ Rs. 0.30 (3%) per share.
 
 2010
 
 -The Company has approved a Dividend @ Re 0.30 (3%) per share
 
 2011
 
 -The Company has recommended a dividend @ 3% (i.e. Re. 0.30) per
 share.
Source : Dion Global Solutions Limited
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