Rhetan TMT Ltd Share Price

The company was incorporated as Shivani Rolling Mills Private Limited on June 26, 1984 under the Companies Act, 1956 with the Registrar of Companies, Gujarat bearing Registration number 007041. Further name of the company was changed from Shivani Rolling Mills Private Limited to Shree Ghantakarna Rolling Mills Private Limited vide Special resolution dated December 27, 1996. The fresh certificate of incorporation consequent of name change was issued on January 03, 1997 by the Registrar of Companies, Gujarat, Dadra & Nagar Haveli. Further name of company was changed from Shree Ghantakarna Rolling Mills Private Limited to Rhetan Rolling Mills Private Limited vide Special resolution dated August 29, 2018. The fresh certificate of incorporation consequent of name change was issued on September 12, 2018 by the Registrar of Companies, Ahmedabad. Further name of company was changed from Rhetan Rolling Mills Private Limited to Rhetan TMT Private Limited vide Special resolution dated December 31, 2021. The fresh certificate of incorporation consequent of name change was issued on January 07, 2022 by the Registrar of Companies, Ahmedabad. The status of the Company was changed to public limited and the name of the Company was changed to Rhetan TMT Limited vide Special Resolution dated January 10, 2022. The fresh certificate of incorporation consequent to conversion was issued on January 19, 2022 by the Registrar of Companies, Ahmedabad.

The company owns and operates a Steel Rolling Mill with an aggregate installed capacity of 30,000 MTPA. It is an IS 1786: 2008 certified company and it manufactures TMT Bars and Round Bars which are primarily used in construction industry. Its products have been used in construction of dams, bridges, residential and commercial towers and major infrastructure projects in Gujarat. Its plant is located at Survey No. 325, Karannagar, Kadi-Kalol Road, Taluka Kadi, Dist. Mehsana, Gujarat and is spread over 15,000 sq. yards. The plant is fully geared with latest technologies to provide good quality steel products and the plant is operating smoothly since 2019. It has a vision to become one the trusted brands in TMT Bars manufacturing in its geography.

The company’s sales have increased at a CAGR of 83.18 % from Rs. 2,000.84 lakh in FY 2020 to Rs 6,702.87 lakh in FY 2022. Further its EBIDTA has increased at a CAGR of 167.07 % from Rs 64.62 lakh in FY 2020 to Rs 459.67 lakh in FY 2022. Due to this strong historical growth, it has decided to further expand its manufacturing capacities and hence it has decided to raise funds to increase its plant capacities and also its working capital capabilities.

Business area of the company

The company is actively engaged in the manufacturing of premium Quality TMT Bars confirming to ISI Standards.

Key Events, Milestones and Achievements

• 1984: Incorporated as Shivani Rolling Mills Private Limited.
  
• 1986: Commenced production of TMT bars at Manufacturing facility located at 325, Karannagar, Kadi-Kalol Road, Taluka Kadi, Dist. Mehsana, Gujarat.
  
• 1992: Uttar Gujrat Vij Company Limited (UGVCL) filed special civil suit No. 49 of 1992 for recovery of electricity charges incurred at the factory site.
  
• 1994: Revaluation of Land was done by the Management of the Company.
  
• 1997: Name of the Company was changed to Shree Ghantakarna Rolling Mills Private Limited vide special resolution passed at general meeting dated December 12, 1996.
  
• 2001: Closure of Plant due to internal financial constrain as well as unfavorable Market conditions.
  
• 2002: Electricity connection was discontinued at the factory site due to non-payment of dues.
  
• 2012: State of Gujarat vide notification dated March 29, 2012 had declared Amnesty Scheme for settlement of outstanding claims of consumers. At that time Company had applied for the Amnesty Scheme which was rejected by the UGVCL/Industries‘ Commissioner stating that the Company does not come under the said Scheme.
  
• 2017: Company applied to the UGVCL/ Industries‘ Commissioner to re-consider it for eligibility under the Scheme.
  
• 2018: Company availed low-tension (LT) load of 13.33 KVA from Uttar Gujarat Vij Company Ltd (UGVCL) for carrying out modernization and overhauling of existing Plant and Machinery and for installation of new machinery at the factory site.
  
• 2018: Name of the Company was changed to Rhetan Rolling Mills Private Limited vide special resolution passed at general meeting dated August 29, 2018.
  
• 2018: Company availed high-tension (HT) load of 1500 KVA from Uttar Gujarat Vij Company Ltd (UGVCL) for Manufacturing.
  
• 2019: Company re-commenced commercial production of TMT bars.
  
• 2021: Sub-Division of Equity shares from 100 to 10 each vide special resolution passed at general meeting dated August 29, 2021.
  
• 2022: Name of the Company was changed to Rhetan TMT Private Limited vide special resolution passed at General Meeting dated December 31, 2021.
  
• 2022 Company converted from Private Limited Company to Public Limited Company vide special resolution passed at General Meeting dated January 10, 2022.
  
• 2022: Company crossed turnover of Rs 50 crore.