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RAJPUTANA STAINLESS LTD. Advancing with the World
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Continuous Case Billets
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The Company was originally incorporated as “Rajputana Steel Casting Private Limited” on April 2, 1991 under the Indian Companies Act, 1956 (No.1 of 1956). Pursuant to a Shareholders resolution passed on June 01, 2007 the Company became a public limited company and the word “Private” was deleted from its name and a fresh certificate of Incorporation was obtained on June 18, 2007 from Registrar of Companies. The name of the Company was further changed to “Rajputana Stainless Limited” and a fresh Certificate of Incorporation consequent to change in name was obtained on July 12, 2007 from the Registrar of Companies.

The aforesaid changes were made in the name to reflect the nature of the business or the constitution of the Company and/or to clearly reflect the nature of business.

There has been no change in our Registered Office since inception.

Main Objects of the Company

The object clauses of our Company enable us to undertake the activities for which the funds are being raised in the Issue as also the activities which our Company has been carrying on till date.

Our main objects as contained in our Memorandum of Association are as under:

“To carry on business of manufactures, buyers sellers, importers, exporters, agents, merchants, fabricators and dealers in all grades, types, qualities, shapes, categories and descriptions of ferrous and non-ferrous metals and their products including melting castings, heat treating, forging cold or hot rolling, re-rolling, slitting, edge milling, pressing, extruding, drawing and stampings of mild steel, carbon steel and alloy steel, special steel, stainless steel, moulds, malleable iron, S.G. iron, cast iron, injections and compression moldings, agricultural implements, die making and die casting, automobile parts, spare parts of all kinds of machinery and engineering works including structural and ferrous and non-ferrous rolling works in all kinds and to manufacture and deal in foundry work of all kinds and tin mill products and to work as makers of various types of steel and other metal equipment’s and to do the business of dealing in metal scraps of all types”.

Brief Corporate Profile and past performance of Our Company

The Company was established in the year 1991 and started its commercial production in the year 1993. Located at Halol near Vadodara it is well connected with the Major Cities. With a Heat size of 20 tons, it produces around 20,000 tons of Stainless Steel annually making it one of the leading Manufacturer and Exporter of high quality Stainless Steel Billets, RCS, Wire Rod, Hexagon, Square, Black & Bright bars in various grades and sizes.

The Company’s Revenues have grown from 3157.29 lacs in fiscal 2005 to Rs. 11281.21 lacs in fiscal 2009, at a CAGR of 37.49%. Our earnings before interest, tax, depreciation and amortization has increased from Rs. 46.21 lacs in 2005 to Rs. 657.69 lacs in 2009, at a CAGR of 94.23%. Our profit after tax has increased from Rs. 9.42 lacs in fiscal 2005 to Rs. 137.62 lacs in fiscal 2009, at a CAGR of 95.50%.This improvement in performance is due to the plant expansion carried out in 2008.

A. Capacity Build – Up:

Fiscal Year Existing Capacity Increased Capacity Reasons for the Increase
(i) SS Billet Manufacturing Unit
1999-2000 0 3000 MT Began Stainless Steel Production
2001-2002 3000 MT 4000 MT Closed MS Unit completely and became a dedicated Stainless Steel Unit
2008-2009 4000 MT 40000 MT Plant Expansion and Modernisation
(ii) SS Bright Bar Unit
2005-2006 0 1000 MT Began Bright Bar Production in-house
2007-2008 1000 MT 3600 MT Plant Expansion and Modernisation


B. Our Technology: The Company has a modern technology and methodology implemented manufacturing unit which is equipped with adequate infrastructure and State-of-the-art technology. Powered by advanced know-how and technical expertise, the plant is well placed to meet stringent international standards. The company uses Indigenous technology for the production of Stainless Steel which is according to the Industry Standards.


C. Market: The Company has a vast Clientele base all over the India and is growing its presence in the International Market with a presence in Middle East, America and South East Asia.

a .Managerial Competence: The Company’s executive directors and Key Management personnel have over 20 years of experience in various activities involving Stainless Steel Industry.

b. Number of Shareholders: The Company has 24 (Twenty Four) Shareholders, holding 15924952 Shares as on date of filing of this Draft Red Herring Prospectus.