SUPREME INFRA. Share price

HISTORY AND BACKGROUND OF THE COMPANYSupreme Infrastructure India Limited was incorporated as SupremeAsphalts Private Limited vide Certificate of Incorporation No.29752 of 1983 dated 8th April 1983 with Registrar of CompaniesMaharashtra at Mumbai.The name was changed to SupremeInfrastructure India Private Limited vide fresh Certificate of IncorporationDated 10th April 2002.Subsequently it was converted into a PublicLimited Company and the name was changed to Supreme InfrastructureIndia Limited vide fresh Certificate of Incorporation dated 30th August 2005.The Company was incorporated on 8th April 1983 by the then PromoterMr. Bhawanishankar H. Sharma Mr. Ved Prakash Gupta and Mr. Hirendra Kumar Sinha. The Company was incorporated with the objects of commencing activities in construction field and supplying of asphalt.The Company?s shareholding and management was with the threepromoters and over the period of time two of the promotersMr. Ved Prakash Gupta and Mr. Hirendra Kumar Sinha disassociated from the Company with effect from 1999and ceased to be promoters of the Company.Mr. Vikram B. Sharma and Mr. Vikas B. Sharmasons of Mr. Bhawanishankar H. Sharma joined the Company as Directors of the Company.The Company started executing the orders of BMC and PWD at various sites and concreting of roads. After establishing in the field theCompany further expanded its activities and procured contract of MMRDAand MSRDC. Presently the Company is registered with PWD and with BMCand is so eligible to bid for their tenders without any restriction in termsof value. Moreover these registrations and class are also accepted and acknowledged by MMRDA and MSRDC.The Company has executed projects thecompletion of which has enabled the Company to achieve specialization inprojects requiring execution of World Bank aided projects that have stringentspecifications. Thus the Company becomes eligible to bid for tenders of construction of runways at airports in future. The Company is also eligible to bid for jobsrelated tidal area projects construction of small jetties and port connectivitieswhich require special skills which have nowbeen acquired by the Companyafter the execution of these projects.Note : No penalties have been levied forany of the projects due to any delay in completion on the part of the Company.Present Business Operations and Projects in HandThe work in hand as on 5th January 2007 is worth Rs. 21613.86 Lakhsand most of these projects are from agencies such as MMRDA MSRDCMPT and NHAI. The Company is also executing a project for MUTP ofearthwork and civil construction for laying of railway tracks between VidyaVihar and Ghatkopar as a part of the Kurla-Thane (Phase-I)railway project being built under the World Bank aided Mumbai Urban Transport Project (MUTP). Completion of this project will strengthenthe company?s ability to bid for such specialized projects. Companyhas been allotted a NHAI project in a joint venture which is an AsianDevelopment Bank approved project. Being appraised by Asian developmentbank and as per the tender conditions company can avail the benefits of exemption of excise duty on all material procurements for the project and also the import duty exemption on all machineries required for the execution of the project.The Company had entered into a Joint Venture Agreement with DeeDee Infrastructure Engineering Private Limited on 15th December 2000 for joint bidding of projects. The Joint venture was awarded the contractfor the Talegaon Shingnapur project mentioned in the above table. HoweverM/s Dee Dee Infrastructure Engineering Private Limited has ceased to be ajoint venture partner. The work on the contract for the Talegaon Shingnapur project awarded to this Joint Venture is being carried out by SIIL.The main features of the joint venture deed are given below.Dee Dee Infrastructure Engineering Private Limited (DDIEPL) :The Company had entered into a Joint Venture Agreement with Dee Dee Infrastructure Engineering Private Limited having its registered office at 417 SrikanthChamber Next to R.K.Studio Sion Trombay Road Chembur Mumbai 400 071. It has formed a Joint Venture under thename and style of Supreme Asphalts Pvt. Ltd Company Joint Venturevide Joint Venture Deed dated 15th December 2000.The terms of the agreement are briefly as enumerated below :The Company shall act as Leader of the Joint Venture for the purpose of preparing and submitting the tenders in its name i.e. in the nameof M/s Supreme Infrastructure India Limited.If the said Joint Venture is successful in procuring the said works theparties of the Joint Venture Agreement as per understanding reached by the parties wherein the responsibilities of each of the two parties will be clearly definedTheir performance of the contracts and execution of the works will be subject to the overall control of a supervisory board that willconsist of representatives of both parties.Milestones achieved by the Company:Year Milestones1997 Installed Drum Mix Technology in Asphalt Plant to raise capacity to 60 M.T. per hour.1998 Was awarded the Project of Bombay Port Trust for concreting of storage yard in MOD yard including drainage system Sewree of amounting to Rs. 2.61 crores and was completed one month ahead of schedule.1999 Successfully completed approach road to the Bandra-Worli sea link at Mumbai. The value of the project was Rs.8.60 crores as a sub-contractor.2000 Successfully completed project of widening and strengthening of National Highway Sect from BARC junction to Mankhurd including existing bridge widening in Mumbai under PWD. The value of the contract was Rs.4.82 crores.2002 Completed the sect of KM 503/00 to 512/00 i.e. improvement to Parli- Gangakhed Palam Loha Road Maharashtra State Highway project valued at Rs.4..75 crores under World Bank Aid programme.2004 Completed the project of Eastern Express Highway from RCF Circle to JVLR junction in Mumbai worth Rs.3.75 crores as per NHAI Standards.2006 Completed work of widening and strengthening of Nagpur-Butibori section Shrigapur Talegaon section as per N. H. standards for a length of 32 Km including major bridges etc. awarded by MSRDC valued at Rs.22.97 crores.2006 Completed the project of Widening and strengthening of Western Express Highway from Andheri Fly Over to JVLR Junction Chainage 518/600 to 516/400 km. as per NH standards awarded by MMRDA valued at Rs. 40.57 crores.