Bhuwalka Steel Industries Ltd.

The Company was originally incorporated, on 18-08-1981 as
 Bhuwalka Steel Industries Private Limited and subsequently
 converted as a public limited company on 17-07-1987.
 
 The Company is presently engaged in the manufacture of
 rolled steel products- plain as well as cold twisted
 deformed bars, Plain round bars, Flats, Squares, Light
 Angles, Light Structural and Coils in its three units
 at Bangalore, one near Bombay and one at Kanchipuram near
 Madras.
 
 The Company is also manufacturing ingots at its unit at
 Kolar near Bangalore.
 
 Further, during the current year the Company has taken
 steps to set up two new units- at Kanchipuram, in the State
 of Tamilnadu and at Wada, in the State of Maharashtra- for
 the manufacture of steel rolled products.
 
 The Company commenced commercial operations in the year
 1983 and achieved a turnover of Rs.6 Crores for the year
 1984-85.  During the last 10 years the Company has
 continuously been pacing up the turnover and the
 profitability and for the year ending June, 1995 the
 Company has achieved a turnover of Rs. 18235.79 lacs and
 PAT of Rs.513 lacs.
 
 The Company has been declaring dividend uninterruptedly for
 the last 9 years and for the year 1994-95 the Company has
 proposed a dividend of 25%.
 
 The Company is a conversion agents for Rashtriya Ispat
 Nigam Ltd., who supply the steel billets to the Company
 which are converted into cold twisted bars/rods as per the
 requirements of the principal.  The details of conversion
 work executed by the Company for its principals during the
 last 3 years are as below:
 
 ------------------------------------------------------------
   Year                  Quantity                Total
                   converted (MT)       Production (MT)
 ------------------------------------------------------------
 
 1992-93*          22628.67                   67047.51
 1993-94           21388.80                   66754.65
 1994-95           18192.00                    121782.00
 ------------------------------------------------------------
 
 (* 15 months)
 
 2000 
 
 -The Expansion and Modernisation of Wada Unit has been completed and
 the project was commissioned on 1st June.
 
 2005
 
 -Bhuwalka Steel forays into rebars segment.
 
 -The Company appointed Sri Suresh Kumar Bhuwalka as Chairman &
 Managing Director of the Company
 
 -The Company recommended Dividend @ 12.5% on Cumulative Redeemable
 Preference Shares.
 
 2006
 
 -The Company recommended dividend @ 15% on equity shares.
 
 2007
 
 -The Company has recommended normal dividend @ 15% and additional 10%
 as special dividend for the silver jubilee year (Total 25%) on equity
 shares.
 
 2008
 
 -The Company has taken over 299900 nos equity shares of Rs 100/- each
 @ Rs 334/- per share in Benaka Sponge Iron Pvt. Ltd, Bellary (BSIPL)
 by way of all cash deal of INR Rs 10.02 Crores.
 
 -The Company has entered into Joint Development Agreement (JDA) with
 Soul Space Realty Ltd (a B.L. Kashyap Group Company) pursuant to the
 MOU for joint development of Bangalore property where presently a TMT
 mill is situated.
 
 -The Company recommended equity dividend @ 20%
 
 2009
 
 -The Company has received order to the tune of Rs 40 crores form
 Paschim Gujarat Vij Co. Ltd / Madhya Gujarat Vij Co. Ltd., / Dakshin
 Gujarat Vij Co. Ltd., / Uttar Gujarat Vij Company Ltd., for supply of
 Mild Steel long products.
 
 2011
 
 -Bhuwalka Steel Industries has given the Bonus in the Ratio of 1:1