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Gyscoal Alloys

BSE: 533275|NSE: GAL|ISIN: INE482J01021|SECTOR: Steel - Sponge Iron
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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.
 
Source : Dion Global Solutions Limited
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