Rajratan Global Wire Limited
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BSE Code:
517522
NSE Code:
RAJGLOWIR
Business Profile
Business Profile
Rajratan Global Wire (RAJGLOWIR), incorporated on Sep. 09, 1988, produces high carbon steel wires. Earlier known as Rajratan Gustav Wolf, it got its present name with effect from Nov. 06, 2006.
The ISO/TS 16849:2002 certified company produces tire bead wires that hold automobile tires at the rim making safe travel possible. The manufacturing facility is located at Pithampur in Madhya Pradesh with an installed capacity of 30,000 MTPA tire bead wires. In FY07, it invested in five windmills with a total capacity of 2.25 MW, which have contributed substantially to earnings.
Rajratan Thai Wire Co. is a wholly owned subsidiary formed to initiate a tire bead wire manufacturing facility in Thailand. The company has received all licenses and permissions required to do business. It has received a privilege certificate from the Board of Investment of Thailand, which allows duty-free import of plant and machinery, a seven-year corporate tax holiday, and other benefits. The project is at an advance stage of implementation.
The registered office is located at Rajratan House, 11/2, Meera Path, Dhenu Market, Indore-452003, Madhya Pradesh.
Financials
On a standalone basis, Rajratan Global Wire registered a profit of Rs 12.4 million for the year ended March 2008. It recorded a net sales of Rs 1,060.61 million for the year ended March 2008.
Total income was Rs 1,062.18 million for the year ended March 2008.
On a consolidated basis, the company registered a profit of Rs 8.5 million for the year ended March 2008.
It recorded a net sales of Rs 1,043.91 million for the year ended March 2008.
Total income was Rs 1,045.56 million for the year ended March 2008.
Recent Developments
08-OCT-07
The members of Rajratan Global Wire declared dividend of Rs 1.00 a share on the face value of Rs 10 each.The members also increased the Authorized Share Capital of the company from Rs 50,000,000 divided into 5,000,000 equity shares of Rs 10 each to Rs 80,000,000 divided into 8,000,000 equity shares of Rs 10 each, by creation of new capital of Rs 30,000,000 divided into 3,000,000 equity shares of Rs 10 each & consequential amendments in the Memorandum & Articles of Association of the company.