Balasore Alloys Ltd Company History

With the Government of India extending the scheme of

broad-banding to bulk ferro-alloys industry since January, the

company hoped to have a diversified product mix within the

existing licensed capacities.

1,00,00,544 No. of equity shares allotted due to the conversion

of Part-A convertible debentures.

The project was at an advanced stage of implementation and it was

expected to be commissioned in March/April.

Another letter of intent was received for the setting up of an

100% Export Oriented Unit (EOU) at Dhenkanal in Orissa for the

manufacture of charge chrome/high carbon ferro-chrome with a

licensed capacity of 75,000 TPA.

Profitability also improved due to optimum utilisation of

company's resources and adoption of various cost control

measures.

352,82,219 shares allotted on conversion of pref. `B' of

debentures.

The said furances are set up as Domestic unit in place of 100%

EOU origin with in build facility to produce other ferro alloys

in addition to charge/ferro chrome to enable the company to

market internationally 2 Nos. of imported DG sets of 5 MW each

were commissioned.

The company successfully implemented the commissioning of two new

furnaces of 7.5 MVA capacity each at Balgopulpur.

The company undertook steps to increase captive power generation

capacity from 19 MW to 40 MW by installing two new imported D.G.

Sets of 10.5 MW each at Balgopalpur, Orissa.

The Company has been conferred with various awards during the

period under review such as Regional Top Exporter Shield for

1994-95 from Engineering Export Promotion council (Eastern

Region), HRD First Prize for 1994 from CII. (Eastern Region) and

Best Exporter Award for 1994 from Directorate of Export Promotion

Council, Orissa.

The Company has also received prestigious IS 14002/ISO 9002

accreditation from the Bureau of Indian Standards.

The Company has successfully used PLCs for economic use of

Resources like Power and Raw Materials.

IAL is a leading manufacturer of silicon metal and

ferro-silicon. Its products are manufactured under technical

collaboration with global leaders like Nippon Denro Japan,

Danieli Italy, Elkem Norway and Outokumpo Finland, IAL has

aggressively added capacities and diversified within the realms

of the ferrous industry.

IAL have suffered a similar fate of delayed project

implementation for as long as a decade.

Power generation capacity was increased by installing two new

imported D G sets of 10.5 MW each from MAN B & W Germany at its

works at Balgophalpur, Orissa.

The management of Ispat Alloys Ltd has declared an indefinite

lockout following violent incidents at the Balagopalpur factory

premises in Balasore district of Orissa.

Ispat Alloys Ltd, a subsidiary of the Mittals-promoted Ispat

Industries Ltd.

Two leading manganese alloy producers -- Ispat Alloys and

Maharashtra Elektrosmelt -- have made losses during first quarter

April/June.

Balasore Alloys Ltd has informed that Mr. Rabindra Kumar Jena, Executive Director of the Company has been elevated to and appointed as Joint Managing Director of the Company w.e.f. January 31, 2007.

Balasore Alloys Ltd has appointed Mr. Debadatta Sengupta as Director of the Company w.e.f. January 31, 2007.

Balasore Alloys Ltd has informed that the Board of Directors of the Company at its meeting held on May 29, 2009 has appointed Mr. Chittaranjan Pradhan, as an Additional Director & Whole time Director (Operations) of the Company w.e.f. May 29, 2009, subject to approval of the shareholders in ensuing Annual General Meeting.

Mr. Vilas V. Jamnis has been appointed as an Additional Director of the Company.

Mr. Anil Surekha, has been appointed as an Additional Director of the Company. Ms. Vartika Mittal has been appointed as an Additional Director of the Company.

Declaration of Dividend of Rs. 0.50 per sham i.e. @ 10% on the nominal value of share.

The Company announced appointment of Mr. R. K. Parakh, as an Additional cum Wholetime Director designated as Director - Finance of the Company and also Mr. B. N. Panda, as an Additional cum Wholetime Director designated as Director - Operations of the Company.

The Company has recommended a dividend of Rs. 0.50 per share i.e. @ 10%.

Mr. Anil Sureka, has been appointed as the Managing Director of the Company.

Balasore Alloys pledges for Living Greener on World Environment Day.

More than Hundred participated in Balasore Alloys blood donation camp.

Balasore Alloys Ltd has an agreemen for acquiring the business of Jabamayee Ferro Alloys Limited as a going concern on a slump sale basis.

Balasore Alloys - Acquisition of business unit of Rohit Ferro Tech Limited

Balasore Alloys commences commercial production at its Sukinda unit in Odisha.