M/s Shri Bhagavati Bright Bars Limited (SBBL) was incorporated as a
Private Limited Company on 13th December, 1991 with Registrar of
Companies, Ahmedabad having registration No. 04-16786 of 1991-92, and
subsequently was converted into a Public Limited Company on 7th
September, 1994 with an increased Authorised Share Capital of Rs.
500.00 lacs. The Company is the Flagship Company of the BHAGAVATI
group based at Rajkot and is engaged in the activities of
manufacturing and trading of Steel, Bars, Fasteners, etc.
The Company has initially set up a project for manufacturing of
Bright Bars with the help of term finance from GIIC, Ahmedabad having
installed capacity of 12000 MT of Bright Bars per annum. The said
project commenced its commercial production from 27th June, 1993. In
maintained growth and with a view of integration, the Company now
proposes to expand its capacity and go in for Backward Integration by
installing Semi-automatic Rolling Mill. The proposed scheme is being
undertaken with a view of value addition, resulting in better
efficiency and higher profitability.
The Company was incorporated in December, 1991 and commercial
production commenced on 27-6-1993. During this intervening period,
the Company implemented the project to manufacture bright bars with
an installed capacity of 12000 MTPA. The Company acquired land in
31-3-1992. During this period procedure for converting this land
into non-agriculture was under progress. The second plot was
purchased in 12-8-1992. The term finance was sanctioned by GIIC on
28-1-1993. Thereafter, the entire project was implemented within a
period of six months. Thus, the project was implemented within a
normal lead time.
FINANCIAL HIGHLIGHTS OF THE COMPANY
The highlights of the financial pertormance of the Company are