| Bhagawati Gases Limited was incorporated as a Public Limited Company on 16th November, 1974 with its Registered Office in West Bengal and obtained Certificate of Commencement of Business on 10th December, 1974 from Registrar of Companies, West Bengal. In 1990, the Company changed its Registered Office to the State of Rajasthan vide Company Law Board order dated October 30, 1990.
Upto 1987, the Company was engaged in transportation and supply of liquid oxygen (a by-product of fertilizer plants) to Khetri smelter plant of Hindustan Copper Ltd (HCL) from various fertilizer plants viz. National Fertilizers Ltd., Fertilizer Corporation of India, Gujarat Narmada Fertilizers Ltd. etc. As the transportation of liquid oxygen from far off places became uneconomical and unreliable, HCL awarded a contract on competitive biddings to the Company for setting up a 131.4 lakhs NM3/p.a. oxygen plant supplying the entire production through the pipeline to its smelter and converter plant at Khetri. The project costing Rs.710 lakhs was implemented with the assistance from IDBI and IFCI and went into commercial production in August 1988.
The company has been supplying oxygen to Hindustan Copper Ltd. (HCL) through a 1.5 km. long pipeline for more than five years to its full satisfaction as also continuing its original business of transportation activities. Consequently, HCL has awarded another contract to the
Company on competitive basis for supply of 336 lakhs NM3/p.a. of oxygen to meet additional requirement of its smelter plant at Khetri. Pending implementation of the proposed expansion scheme, the Company has since installed additional storage capacity as also other balancing equipment to meet the part of the additional oxygen requirement of smelter plant of HCL.
MAIN OBJECTS
The main objects of the Company as set out in the Memorandum of Association are given below:
To carry on the business as producers, Manufacturers, processors, converters, refiners, makers, bottlers, stockists, dealers, importers, exporters, traders,retailers, agents, buyers or sellers of oxygen, acetylene, ammonia, carbondioxide, nitrogen, hydrogen, helium and
other types and kinds of gases required for or used in industries, agriculture, clinics, hospitals, refrigeration, aviation, transport vehicles, space rockets and crafts, communication, objects and media, power plants, domestic or public lighting, heating, cooling or cooking purposes, lighters, plants producing water, chemicals or fuels, pesticides, defence or warfare establishments, horticulture, forest or plant protection and growth and other allied purposes and to service repair, manufacture, market or deal in machinery, plants, spares, cylinders, containers, gadgets, appliances and accessories required for, working on, using or producing any of such gases, and products.
SUBSIDIARY COMPANY
The Company does not have any subsidiary company.
GROUP COMPANIES
Bhagawati Oxygen Limited
The 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 1993
Sales 23.41 28.19 168.86
Other income 3.93 11.38 54.57
Total income 27.34 39.57 223.43
PBIDT 3.05 8.72 141.77
PAT 0.70 5.04 20.75
Equity Capital 32.04 231.04 231.07
Reserve(excl Rev
Reserves) 2 2 15
Less: Misc exp
not w/off 0.28 0.22 2.54
Net Worth 33.76 232.82 243.53
Dividend (%) -- -- --
EPS (Rs.) 0.22 0.22 0.90
Book 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 Companies
Bhagawati Steel & Ltd. The Company was incorporated in 1965 has two re-rolling mills with installed capacity of 35,000 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.
2007
- Bhagawati Gases Ltd has appointed Mr. Kailash Chand Kedia as additional director of the Company
-Bhagawati Gases Ltd has appointed Mr. Vivek Sharma as additional director.
2008
-The Company designated E-mail ID of the Company for investor grievance is
:bhagwati@nda.vsnl.net.in
2009
- Bhagawati Gases Ltd has informed that the name of the Company has been changed from Bhagawati Gases Ltd to Bhagawati Gas Ltd
-The Company appointed Mr. Rakesh Samrat Bhardwaj as the Managing Director of the Company.
2010
- Bhagawati Gas Ltd has appointed Mr. Ganga Charan as an additional director of the Company.
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