Bhagawati Gas Share price

Bhagawati Gases Limited was incorporated as a PublicLimited Company on 16th November 1974 with its RegisteredOffice in West Bengal and obtained Certificate ofCommencement of Business on 10th December 1974 fromRegistrar of Companies West Bengal. In 1990 the Companychanged its Registered Office to the State of Rajasthanvide Company Law Board order dated October 30 1990.Upto 1987 the Company was engaged in transportation andsupply of liquid oxygen (a by-product of fertilizer plants)to Khetri smelter plant of Hindustan Copper Ltd (HCL) fromvarious fertilizer plants viz. National Fertilizers Ltd.Fertilizer Corporation of India Gujarat Narmada Fertilizers Ltd. etc. As the transportation of liquid oxygen fromfar off places became uneconomical and unreliable HCLawarded a contract on competitive biddings to the Companyfor setting up a 131.4 lakhs NM3/p.a. oxygen plantsupplying the entire production through the pipeline to itssmelter and converter plant at Khetri. The project costingRs.710 lakhs was implemented with the assistance from IDBIand IFCI and went into commercial production in August 1988.The company has been supplying oxygen to Hindustan CopperLtd. (HCL) through a 1.5 km. long pipeline for more thanfive years to its full satisfaction as also continuing itsoriginal business of transportation activities.Consequently HCL has awarded another contract to theCompany on competitive basis for supply of 336 lakhsNM3/p.a. of oxygen to meet additional requirement of itssmelter plant at Khetri. Pending implementation of theproposed expansion scheme the Company has sinceinstalled additional storage capacity as also otherbalancing equipment to meet the part of the additional oxygen requirement of smelter plant of HCL.MAIN OBJECTSThe main objects of the Company as set out in theMemorandum of Association are given below:To carry on the business as producers Manufacturersprocessors converters refiners makers bottlersstockists dealers importers exporters tradersretailers agents buyers or sellers of oxygen acetyleneammonia carbondioxide nitrogen hydrogen helium andother types and kinds of gases required for or used inindustries agriculture clinics hospitals refrigerationaviation transport vehicles space rockets and craftscommunication objects and media power plants domestic orpublic lighting heating cooling or cooking purposeslighters plants producing water chemicals or fuelspesticides defence or warfare establishments horticultureforest or plant protection and growth and other alliedpurposes and to service repair manufacture market or dealin machinery plants spares cylinders containers gadgets appliances and accessories required for working on using or producing any of such gases and products.SUBSIDIARY COMPANYThe Company does not have any subsidiary company.GROUP COMPANIESBhagawati Oxygen LimitedThe company was promoted by Shri R.R.Sharma Shri S.K.Sharma and late Shri B.P.Bhardwaj. Shri S.K.Sharma (B.Com) is looking after the affairs of Bhagawati Oxygen Ltd. as Managing director for the last 18 years. The company was incorporated in 1972 and is presently engaged in the manufacture of oxygen gas. The company supplies its production to Hidustan Copper Ltd. (HCL). The company has one plant at Ghatsila Dist. Singhbhum Bihar with a capacity of 25 TPD and another plant at Ballabhum Haryana with a capacity of 140 M3/Hr. The company has temporarily suspended the operations of the latter plant with effect from 16.12.93 as the plant has already completed its economic life having operated for over 15 years and presently has nominal book value. The plant of the company at Ghatsila is now running satisfactory after initial teething trouble.Financial Highlights (Rs. in lakhs) Year Ending March 31 1991 1992 1993Sales 23.41 28.19 168.86Other income 3.93 11.38 54.57Total income 27.34 39.57 223.43 PBIDT 3.05 8.72 141.77PAT 0.70 5.04 20.75Equity Capital 32.04 231.04 231.07Reserve(excl Rev Reserves) 2 2 15Less: Misc exp not w/off 0.28 0.22 2.54Net Worth 33.76 232.82 243.53Dividend (%) -- -- --EPS (Rs.) 0.22 0.22 0.90Book Value (Rs.) 10.54 10.07 10.54 Note: Other income includes interest receipts hire charges and profit on sale of fixed assets.Operations & present position of other Group CompaniesBhagawati Steel & Ltd. The Company was incorporated in 1965 has two re-rolling mills with installed capacity of 35000 tpa at Calcutta. At present there are no major operations. However recently the company has obtained distributorship for India from ENECON USA for the marketing of Power cells 7 chemical compounds.Bhagawati International Ltd. The Company was incorporated in 1974 has been engaged in import/export of engineering goods viz steel fencing material fastners and re-rolled products. Presently there are no major operations in the company.Bhagawati Castings (P) Ltd. The company was incorporated in 1974 for the manufacturing of Manhole cover/pipes. Presently there are no major operations in the company.Ramrup Credit & Leasing Pvt. Ltd. The company was incorporated on 7.5.1993 with the object of carrying on business of leasing & hire purchasing. Company has no significant operations since the Company has just started activities.The are no pending litigations against any Company in the Group.