BRIEF HISTORY OF THE COMPANY:

Establishment
Balaji Agro Oils Limited (BAOL) is a public limited company having been incorporated on 06/05/1994 and is engaged in Solvent Extraction, Power Generation, Manufacture of Steel Ingots.
 
Gist of the Activities of Divisions
The company has been running three divisions with the following activities.
 
Solvent Extraction Plant :
The Solvent Plant has capacity of 200 MT per Day of Rice Bran. The purchased Rice Bran is treated with steam and heated and sent to pelletiser through conveyors to convert Rice Bran into pellets. The pellets are sent to Extraction unit where Oil is extracted, this Rice Bran oil sold to Refineries through tankers. The extracted Rice Bran is sent to Driers where the Rice Bran is treated as De-Oiled Rice Bran and is collected in Gunny bags. The De-Oiled Rice Bran is sold to Pisciculture. The Plant has Started Commercial Production in March 1996 and the division has been recording profits since inception.
 
Power Division :
The company has diversified its activities and taken up power generation capacity of 4.5 MW on commercial basis on 01/06/2003 using agro based biomass as basic raw material which is available in plenty locally. The power so generated is being sold to APTRANSCO as well as to its sister divisions i.e. Solvent & Steel Divisions. The company has entered into a power purchase agreement with APTRANSCO for 20 years. The Division has been earning profits since the beginning of the commercial production.
 
Steel Division :
Set –up an Induction Furnace to Manufacture “ IRON INGOTS a primary and semi-finished Iron & Steel Product. The division has started its commercial operation in February 2005 only .It is engaged in the manufacture of Iron Ingots by utilizing the Iron Scrap, Sponge Iron & Pig Iron as basic raw material. Steel Ingots are sold locally & within the state to re-rolling units. The division annual capacity 5000 MT. and also the Division has been earning profits. The company has started this division to take advantage of the available surplus power its sister division i.e. Power division in order to increase the overall profitability of the company.
Material Changes including changes in capital structure

There were no material changes in the company like reorganization, restructuring or amalgamation since inception except the changes in the share capital through allotment of shares. There was no issue of debentures done as well.
During the year under review, the company has not issued Equity Shares/ shares with differential voting rights/ granted stock options/ sweat equity.
However, the Company has duly forfeited 6,23,405 Equity Shares on failure, with regard to the payment of pending due amount, by the shareholders after giving due notice to them and complied with the provisions of the Act.

Details about Capital Structure

Sr.No. Type of Issue(Bonus/Preferential Allotment/IPO) Date of Allotment No. of shares Issue price Distinctive Numbers
Nominal Value Premium From To
1. EQUITY 02-05-1994 200 10 NIL 1 200
2. EQUITY 25-11-1994 500 10 NIL 201 700
3. EQUITY 11-03-1995 661500 10 NIL 701 662200
4. EQUITY 28-08-1995 175000 10 NIL 662201 837200
5. EQUITY 04-11-1995 1183800 10 NIL 837201 2021000
6. EQUITY 22-12-1995 1979500 10 NIL 2021001 4000500
7. EQUITY 26-03-2002 2482685 10 NIL 4000501 6483185
8. EQUITY 08-08-2002 3017315 10 NIL 6483186 9500500
9. EQUITY 05-06-2004 490000 10 NIL 9500501 9990500
10. EQUITY 11-04-2005 1210000 10 NIL 9990501 11200500

** There was no reorganization, reconstruction and amalgamation occurred / done in the Company till date from inception.

 
 
     
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