Vishal Exports Overseas Limited
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BSE Code:
532618
NSE Code:
VISHALEXPO
Business Profile
Business Profile
Vishal Exports Overseas (VISHALEXPO) is engaged in export and import trading activities and in the power business. It was established as a partnership firm in the year 1988 and was subsequently converted into a public limited company on March 6, 1995.
The company exports products like soyabean, corn, cashew products, castor oil, products, frozen foods, garments, sugar and other commodities to more than 40 countries. The company has also been actively involved in the import of goods and their subsequent marketing in India. It imports gold, edible oils, plastic granules, onions, garments, pharmaceuticals, and other products.
An active player in wind power, the company has commissioned 40.68 MW wind power in Tamil Nadu and Rajasthan out of its 100 MW wind power project early in 2007. The company commissioned a 1 MW small hydro power project in Shimla, Himachal Pradesh in the year 2005 and is implementing a 2 MW Jakhi small hydra power project at an estimated cost of INR 120 million to be operational by 2008. The company signed a project development agreement with the Government of Uttaranchal Pradesh for carrying out detailed investigations and confirmatory surveys for the 5.6 MW Nandakini-III hydra power project in 2006. Hateshwari Om Power Enterprises is a subsidiary of the company.
Chalking out plans to enter into real estate development, the company has formed Vishal Reality Management as part of its long term strategy and has already participated in the tender for development of 65,000 sq. m. of prime property near Ghodod Road, Surat. The registered office of the company is located at Vishal House, Opposite Sales India, Behind Punjab National Bank, Ashram Road, Ahmedabad-380009, Gujarat.
Financials
Vishal Exports Overseas registered a loss of Rs 981.83 million for the quarter ended September 2007.
It recorded a net sales of Rs 53.01 million for the quarter.
Total income was Rs 53.94 million for the quarter ended September 2007.
The diluted loss per share of the company stood at Rs 2.73 for the quarter ended September 2007.
Recent Developments
28-JUN-07
The Registrar of Companies, Gujarat approved the extension of current financial year (accounting Year) upto Sept. 30, 2007. The annual general meeting for the said financial year shall be held on or before March 15, 2008.
05-JUN-07
The shareholders have approved to sell/transfer the wind farm project of the company situated in Rajasthan and Tamil Nadu on going concern basis via postal lot.
29-MAR-07
On March 23, 2007, the board of directors appointed Pradeep S. Mehta as the chairman and managing director of the company.
09-JAN-07
1. The company had participated in a bid issued by Gujarat Urja Vikas Nigam and successfully qualified for a 679 MW hydro power project. The said project of 679 MW will be completed in the next four years.2. The company has successfully commissioned its 40.68 MW. wind power project in Tamil Nadu and Rajasthan out of its 100 MW wind power project.