Shah Metacorp Share price

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 12000 MT per annum which was further increased to 18000 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 Companyís 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 22000 equity shares. 2004-05The 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 6000 MTPA. Rs. 95 lacs raised by way of Term loan with UCO Bank. Equity Share Capital of Rs. 123.57 lacs raised by issuing 1235688 equity shares.2005-06The Status of the company changed from Private Limited Company to Public Limited Company with the name ìGyscoal Alloys Limitedî Rs. 625 lacs raised by way of Term Loan with UCO Bank. Equity Share Capital of Rs. 131.41 lacs raised by issuing 1314100 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. 2006-07Gyscoal alloys Limited got ISO 9001:2000 certification from BSI Management Systems The Company started its Steel Melting Shop with a capacity of 12000 MT per annum Equity Share Capital of Rs. 40 lacs raised by issuing 400000 equity shares. 2007-08Changes 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 1150000 equity shares. Rs. 20 Lacs raised by the company by issuing 50000 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 2275520 equity shares. Rs. 226.86 lacs raised by the company by issuing 141786 equity shares at a premium of Rs. 150 per share. 2008-09The Company increased the Capacity of its Steel Melting Shop to 18000 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 ìthe manufacture and supply of stainless steel and mild steel based angles channels flats round square bright twisted bars billets and ingotsî adhering to IS 2062 & IS 1786î from BSI Management Systems Rs.1000.00 Lacs raised by the company by issuing 1538460 equity shares at a premium of Rs.55 per share.