| YEAR EVENTS
1981 - The Company was incorported on 20th October, as a public limited
company in Gujarat State and the Certificate of Commencement of
Business was obtained on 19th July, 1982. The Company was
promoted by M/s. Bhagwati and Shri M.N. Shah.
- The main object of the Company is to Manufacture S.G. iron
castings and alloy iron castings.
- The Company was licensed to manufacture 1,800 tonnes of S.G. iron
castings per annum and 2,400 tonnes of alloy castings per annum.
- 7 No. of equity shares were subscribed for by the signatories
to the Memorandum and Articles of Association.
1983 - Authorised capital increased and reclassified. During August
6,19,993 No. of equity shares of Rs.10 each issued at par. Of
these, 2,47,993 No. of equity shares (20,000 shares reserved for
NRIs) were reserved for allotment to promoters, directors, their
friends, relatives and associates. The balance 3,72,000 No. of
equity shares were issued to the public (1,50,000 No. of equity
shares reserved for NRIs) at par through a prospectus.
1985 - The Company undertook to expand its installed capacity for plant
and machinery for buildings. Funds for this expansion were
raised through a rights issue of shares. The expansion envisaged
installation of a second induction furance and balancing
equipment.
- 2,97,600 rights equity shares issued at par in prop. 12:25.
74,400 additional equity shares allotted at par to retain
oversubscription.
1989 - Due to continuing price hike in the cost of raw materials and
increased rates of power and revision in wages, the working
results were marginally affected.
1992 - Profits were adversely affected due to high cost of inputs.
- The Company undertook an expansion-cum-modernisation scheme.
Major machinery was installed.
- During October, the Company issued 6,61,333 No. of equity shares
of Rs.10 each at a premium of Rs.20 per share on rights basis in
the proportion 2:3. Only 5,38,846 shares taken-up. Out of the
remaining 1,22,487 shares, 69,534 shares were taken by
underwriters. Negotiations with the underwriters/lead managers
were going on for taking up the balance 52,953 No. of equity
shares.
- 6,08,380 rights equity shares allotted (prem. Rs.20 per share,
prop 2:3).
1994 - The Company installed a new induction furnace and also installed
drum hamogenizer cum cooler to achive better quality of moulding
and for getting better finish of the castings.
2006
-Bhagwati Autocast Ltd Issues Rights in the Ratio of 4:5
2009
-Bhagwati Autocast has recommended 8% dividend
2012
-Bhagwati Autocast has recommended 5% dividend
2013
-Bhagwati Autocast has recommended dividend of Rs. 0.70 per equity shares of Rs. 10 each (7%).
2014
-The company recommended dividend of Rs. 0.90 per equity shares of Rs. 10 each (9%).
2016
-Bhagwati Autocast Ltd has informed that Board of directors has appointed Mr. Mehul Naliyadhara, as Company Secretary (KMP) and Compliance Officer of the Company.
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