Suryo Foods & Industries Share price

The company was originally incorporated as Suryo DLFLimited on 12th May 1989. The name of the company wassubsequently changed to the present name i.e. SURYO FOODS &INDUSTRIES LTD. (SFIL) and a fresh certificate ofincorporation consequent upon change in name was obtainedfrom the Registrar of Companies Orissa at Cuttack on 19thSeptember 1991.MAIN OBJECTSThe main objects amongst others as set out in theMemorandum and Articles of Association of the company are:To purchase procure catch process pack can tinstore sale export. trade in shrimps shrimps oysterscamp lobster crab sel clam fishes and other marineand fresh water products in India and abroad and to set upestablish run operate manage deep freezing plant iceplant frozen storage IQF plant Feed plant Fish mealplant breaded battered tinned canned and other valueadded processed products and sale. export trade in theproducts manufactured and to carry on the trading housebusiness as an export house and to engage in all suchactivities as export house trading house may be as allowedby the Government from time to time.The company was promoted on May 121989 jointly by SuryoUdyog Ltd. Bhubaneshwar and DLF Universal Ltd. New Delhias Suryo DLF Ltd. to take up shrimp farming as also withthe help of the latter real estate business in Orissa.Later however the company decided to focus on shrimpculture. Goldens Anchor Ltd. of Suryo Group bought over theshares in the company held by DLF Universal Ltd. and itsassociate company Bansal Development Corporation Ltd. Uponcompletion of necessary formalities in this regard thecompany was granted the requisite certificate forCommencement of Business by Registrar of Companies Orissaon May 25 1989. The company''s change of name to the presentone was registered on September 19 1991. SFIL commencedprocessing of shrimps in 1991-92 at a hired processing unitat Bhubaneshwar. in October 1993 SFIL took on lease aself contained portion of the processing house belonging toM/s. Kalinga Marines & Transports Private Ltd. comprising 4MT/day plate freezer cold storage of 100 MT along withnecessary peeling hall raw material godown etc. atBhubaneshwar for a period of 5 years at a lease rent of Rs.70000/- p.m. The lease agreement dated 11.10.93 can beterminated by either party at any time however with anotice of 3 months. The entire output is being exported.Exports of shrimps and other fish by SFIL have shown arising trend over the years and during the year 1993-94they aggregated Rs. 345 lakhs. The company now proposes toset up the proposed integrated aquaculture project forexports except that a part of output from the hatcherywould be sold in the domestic market.SUBSIDIARY OF THE COMPANYThe company has no subsidiary.