Company History - Gyscoal Alloys
The Company was originally incorporated as Shreenath Mineral Metal
Private Limited on September 29, 1999 under the Companies Act, 1956
as a private limited company by the Registrar of Companies, Gujarat,
Dadra & Nagar Haveli. The name of the Company was changed to
Gyscoal Alloys Private Limited and a fresh certificate of
incorporation consequent to the change of name was granted
by Registrar of Companies, Gujarat on June 21, 2004. The Company
subsequently became a public limited Company and the name of the
Company was changed to Gyscoal Alloys Limited and the fresh
certificate of incorporation was granted to the Company on March 21,
2006 by the Registrar of Companies, Gujarat.
Gyscoal Alloys Limited (GAL), a public limited company, was
incorporated in the year 1999 as a private limited company.
Initially, the Company started its business with the trading of iron
and steel scraps, billets and steel long products. The company also
decided to trade in mild steel products namely CTD Bars and TMT Bars.
The company took over a steel rolling mill business with a capacity
of 6000 MT per annum from Shah Alloys Group at Ubkhal, Mehsana and
started manufacturing of rolled products in the year 2005. The
rolling mill capacity was increased by another 12000 MT per annum to
take the total rolling mill capacity to
18000 MT per annum in the financial year 2005-06. In the
financial year 2006-07, the Company further started its Steel
Melting Shop with a capacity of 12,000 MT per annum which was
further increased to 18,000 MT per annum in the year
2008-09. Looking to the potential higher value addition in
case of stainless steel products, the Company decided to
manufacture Stainless Steel long Products in the year 2006-07.
At present, the plant has the capacity to manufacture different
grades of Stainless Steel products ranging between 200 series to 400
series.
The Company has expanded in various ways keeping its focus on
steel. At this stage, the company was able to provide its
clientele a broad spectrum of products. In pursuance of its
objectives, the company is committed to maintain high standards
of quality, efficient delivery schedules, and competitive
prices. At present, Companys products portfolio includes
Angles, Bright Bars, Black Bars, Flats, Hexagonal and Round
Corner Squares (RCS) products which include channels,
sections, pata-patti, full line of Round Corner Squares (RCS)
and rectangles in standard sizes. The Company also manufactures
squares, and Flat in sizes of the specification as per requirement of
its customers.
Major Events
Following are the key events and major milestones achieved by the
company:
1999-00
Incorporation of the company
2000-01
Equity Share Capital of Rs. 2.20 lacs raised by issuing 22,000 equity
shares.
2004-05
The name of the company was changed from Shreenath Mineral Metal
Private Limited to
Gyscoal Alloys Private Limited.
Purchased of a steel rolling unit from Shah Alloys Group with an
Installed Rolling Capacity
of 6,000 MTPA.
Rs. 95 lacs raised by way of Term loan with UCO Bank.
Equity Share Capital of Rs. 123.57 lacs raised by issuing 12,35,688
equity shares.
2005-06
The Status of the company changed from Private Limited
Company to Public Limited
Company with the name Gyscoal Alloys Limited
Rs. 625 lacs raised by way of Term Loan with UCO Bank.
Equity Share Capital of Rs. 131.41 lacs raised by issuing 13,14,100
equity shares.
The rolling mill capacity was increased by another 12000 MT per
annum to take the total
rolling mill capacity to 18000 MT per annum in the financial year
2005-06.
2006-07
Gyscoal alloys Limited got ISO 9001:2000 certification from BSI
Management Systems
The Company started its Steel Melting Shop with a capacity of 12,000
MT per annum
Equity Share Capital of Rs. 40 lacs raised by issuing 4,00,000 equity
shares.
2007-08
Changes in the Main Objects of the Object Clause of the
Memorandum of Association of
the Company.
Company has initiated direct exports to various Far East Asian
Countries.
Equity Share Capital of Rs. 115.00 lacs raised by issuing 11,50,000
equity shares.
Rs. 20 Lacs raised by the company by issuing 50,000 equity shares at
a premium of Rs. 30
per share.
Bonus issue in the ratio of 6:11 was made by the company by
issuing 22,75,520 equity
shares.
Rs. 226.86 lacs raised by the company by issuing 1,41,786 equity
shares at a premium of
Rs. 150 per share.
2008-09
The Company increased the Capacity of its Steel Melting Shop to
18,000 MT per annum.
2009-10
Company has developed the Bright Bar Unit and started the operation
of the unit during the
year.
Reschedulement of the quarterly installments of the term loan with
UCO Bank.
Gyscoal alloys Limited got ISO 9001:2008 certification for the
manufacture and supply of
stainless steel and mild steel based angles, channels, flats,
round, square, bright, twisted
bars, billets and ingots adhering to IS 2062 & IS 1786 from BSI
Management Systems
Rs.1000.00 Lacs raised by the company by issuing 15,38,460 equity
shares at a premium
of Rs.55 per share.
2011
-Mr. Vijay Ranjan has been appointed as Additional Director
(Independent Director) of the Company.
2012
-Mr. Surendra Patel is appointed as Additional Director (Independent
Director) of the Company.
2013
-Gyscoal Alloys acquires majority stake in Thai Indo Steel.
2014
-Mr. Dileep Panchal has been appointed as Company Secretary and
Compliance Officer of the Company.