Bhartiya International Share price

Bhartiya International Limited was incorporated as aPrivate Limited Company under the name of `Bhartiya GalechaIndustries Private Limited'' on 7th January 1987. The namewas subsequently changed to ''Bhartiya International Limited''on 9th July 1993. The Company was converted into a PublicLimited Company vide its resolution passed in the Extraordinary General Meeting held on 18th January 1994 andname changed to ''Bhartiya International Limited''. A freshcertificate of incorporation dated 10th May 1994 to thiseffect for conversion has been obtained from Registrar ofCompanies.The Company initially started with exports of carpets andsubsequently diversified into manufacture and export ofhigh fashion leather garments.The company undertakes its procurement of Carpets from themain Carpet Producing areas in the country ie. Mirzapur/Varanasi belt of U.P. Amritsar and Jaipur.This procurement is done either by direct purchases fromWeavers and large manufacturers or by having Carpetsmanufactured on contract basis. Under the contract basisthe company provides raw material like woolen yarn etc. andcash advances to a group of contractors. These contractorshave their own network of experienced weavers who weavethe carpets in their own looms on the basis of designs andother specifications provided by the company.The leather garment manufacturing activities are presentlybeing undertaken in "in-house" manufacturingfacilities and at dedicated fabrication units.The Company has emerged as a leading manufacturer andexporter of high quality leather garments. It hasregistered increasing turnover and profits over the past years.The turnover of the Company have increased from Rs. 38.05 lacs in year 1987 to Rs. 700.10 lacs in the year1993 and net profit increased from Rs 103 lacs to Rs. 84.95 lacs for the same period thereby registering acompounded growth rate of 62.48% in turnover and 108.63% innet profits over the six year period. The Company has beenawarded the status of a recognised export house byGovernment of India in the year 1992. The production ofthe Company is exported to discerning buyers in hardcurrency countries like Germany Austria ItalySwitzerland Hungary USA and CanadaMAIN OBJECTS OF THE COMPANYMain objects of the company as set out in the Memorandum ofAssociation of the company inter-alia include thefollowing:1. To carry on the business as manufacturers producersprocessors exporters importers wholesalers retailersof and dealers in all kind of carpets including handmadeand machine made tuffted axminister wilton brusselschanille tapestry ingrain velvet namda carpetsunderlays fastoons and goblin linoleum portiere andsdrugget durries rugs mattings floor cloths floorcoverings and furnishing fabrics and articles made whollyor partly of any one or more of the following materialsnamely wool hair silk jute flax yarn spun staplescoir sisal cotton natural and other synthetics orman-made fibres.The following objects are taken up as main business of thecompany from clause (2) and clause (14) of the otherobjects vide Special Resolution passed on 7th April 1989under Section 149(2A) of the Companies Act 1956.1. To carry on the business of manufacturers of and dealersin men''s women''s and children''s clothing and wearingapparel of every kind nature and description made fromcotton synthetics wool and/or leather.2. To carry on the business as manufacturers of anddealers in leather and leather goods of all descriptions andof leather dresses tanners hides skins and all thingsand material connected therewith.