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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