Sri Vasavi Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1985 - Sri Vasavi Steel Industries Ltd. was originally incorporated as a
private limited company on 22nd January for the manufacture of
CTD Bars and Rounds and subsequently became a deemed public
company on 1st July on the basis of turnover.

- The company's manufacturing unit was set up in August, 1987 with
an installed capacity of 15,000 MT and the installed capacity was
enhanced in March, 1991 to 20,000 MT. The company manufactures
M.S. CTD Bars and Rounds.

1994 - The company was converted into a public limited company on 19th
April, in terms of special resolution passed on 22nd April under
section 31(1) of the Companies Act, 1956.

- The promoters of the company are Shri G. Eswara Rao, Shri G. Ch.
Sanyasi Raju and associates.

- The Company Public Issue of 36,00,000 No. of Equity Shares of Rs.
10/- each for cash at par aggregating to Rs. 360 lakhs.

1996 - The Company proposes to diversify its activities by setting up
Ferro Alloys Unit in the State of West Bengal to take advantage
of lower power costs and other incentives.

1997 - The company proposes to consider the tax liability at the end
of the financial year.Â

2001

- Sri Vasavi Florex and Industries Ltd., the Bangalore-based Floriculture
company, has bagged the Apeda bronze trophy for its excellent performance
in exporting fresh flowers during the year 1999-2000.

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