About the Company
The company was incorporated as Bharat Ropes Private Limited on July 24, 1986, at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956. The company was converted into a public limited company pursuant to approval of the shareholders in an extraordinary general meeting held on May 2, 1992 and consequently, the name of the company was changed to Bharat Ropes Limited and a fresh certificate of incorporation consequent upon conversion to public limited company was granted on June 10, 1992. Thereafter, the name of the company was changed from Bharat Ropes Limited to Bharat Wire Ropes Limited and a fresh certificate of incorporation consequent upon change of name was granted by the Registrar of Companies, Mumbai, on July 5, 1996.
The company was originally promoted by the Shah Group and in the year 2010, one of its current promoters - Gaji Mercantile Private Limited purchased 1,06,75,490 Equity Shares under SPA dated June 30, 2010. The company’s existing steel wire ropes manufacturing facility with an installed capacity of 12,000 MTPA is located at Atgaon. The company also has a Pyrolysis plant with an installed capacity of 1,260 MTPA at Chalisgaon, Maharashtra for production of oil, which is used as fuel in its current manufacturing process.
The company is proposing to further enhance its capacity to manufacture wire ropes, structural strands and slings by setting up a fully integrated manufacturing facility with an installed capacity of 66,000 MTPA at Chalisgaon, Maharashtra. The company is an ISO 9001:2008 certified company by the British Standards Institution (BSI) for the manufacture and supply of steel wire ropes, stainless steel wire ropes, non-ferrous wire ropes, slings, relevant conductors, wire for specialized applications and rope fittings in domestic and international market. Its existing setup in Atgaon is accredited with Bureau of Indian Standards (BIS), ISO 9001:2008 and have obtained BIS Licenses for IS:2266, IS:4521, IS:1856, IS:1855,IS:2581, IS:9282, IS:12776. The company also holds product approvals from RDSO, CORE, DGMS, PGCIL, IRS etc. for various ropes and wire products.
Business area of the company
The company is a wire rope and wires manufacturing company. It is engaged in manufacturing and sales of wire ropes, structural strands, slings and wires which find its application in general engineering, fishing, elevators, cranes, material handling, power transmission, suspension bridges, onshore / offshore oil exploration, ports and shipping, mining, defence, railways etc. It is also engaged in the business of trading of the steel related products.
- 1986: Incorporation of the company and commencement of Business Activities.
- 1992: Conversion from a private limited company to a public limited company and consequently the name of the company was changed to Bharat Ropes Limited.
- 1996: Change of name of the company from Bharat Ropes Limited to Bharat Wire Ropes Limited.
- 2006: Shifting of the manufacturing facility from Bhandup, Mumbai to Atgaon, Thane.
- 2010: Change in the Management of the company from the Shah Group to the Mittal family.
- 2012: Raising of Equity of Rs 3000 lakh from Gaji Mercantile Private Limited and Rs. 1000 lakh from Passionate Investment Management Private Limited.
- 2015: Sanction of Term Loan facility of Rs 33000 lakh.
- 2015: Grant of Plot No - 4 admeasuring 2,54,376 square meters located at M.I.D.C. Chalisgaon Industrial Area, Village - Khadki, BK Chalisgaon, District Jalgaon - 424101, Maharashtra by way of Predetermined Lease Agreement dated March 31, 2015.
|Parent Organization||Bharat Wire Ropes Ltd.||Managing Director||Murarilal Mittal|