Balurghat Technologies Ltd
Balurghat Technologies Ltd Company History
Balurghat Technologies is an India-based diversified transportation and logistics company. The Company provides logistics and supply-chain solutions to various industry sectors, including automotive fast-moving consumer goods, industrials, pharma and healthcare, property developers, and government agencies. The Company also offers services, such as freight forwarding and travel solutions through Balurghat Supply Chain Solutions. Its road logistics services include dedicated transportation, including individual delivery services, and it offers a range of services, including third-party logistics solutions and freight forwarding. It has partners for carriers and team for carrier-management solution in road logistics services. It provides travel services for individual/corporate needs. It provides dedicated and Individual services through corporate travel partnership. The Company assign dedicated travel consultant per project/single point contact through entire travel process.
1993
The Company was incorporated on 30th June, by converting a partnership firm M/s. Balurghat Transport company into joint stock company. Certificate for Commercial of Business was obtained on 2nd July, 1993. It was promoted by Uttam Chand Sethia and Bachhraj Sethia. The Company has 180 branches and service centres spread over 23 states of the Country. There are 20 LCV trucks, 15 cars.
1993
1994
The Company proposed expansion of its transport business by additions of 100 new trucks and more hired transport. It was also proposed to export diamonds, precious stones, semi-precious stones and other related activities.
An additional outlet pump and motor spirit out let pump were to be installed at the existing oil station at Khejurighat in Malda district.
30,00,000 No. of equity shares of Rs 10 each issued, subscribed and paid up. 152,00,000 No. of equity shares were issued at par in June 1994 as follows:
(i) 38,00,000 No. of equity shares to promoters, directors etc. Of the balance, the following were reserved for allotment on a preferential basis:
(i) 4,69,000 shares to employees (only 59,300 shares taken up);
(ii) 22,80,000 shares to Indian Mutual Funds (None were taken up);
(iii) 11,40,00 shares to NRIs on non repatriation basis (30,100 shares taken up).
Balance 78,11,000 shares along with 34,99,600 shares not taken up under pref. quota issued to public (all were taken up).
1994
1995
Margin was under pressure due to stiff competition and the violent fluctuations in lorry hire market. The sale of petroleum product also suffered due to short supply throughout the year.
1995
1996
The operations of the Company was affected due to general election, restriction imposed by the Supreme Court restraining the carriage of forest products coupled with natural calamities
and political instability.
1996
1997
Profitability of the Company was affected due to general economic depression.
1997
2000
The Registrar of Companies has approved change of name for Balurghat Transport Company Ltd to Balurghat Technologies Ltd.
The Company has entered into agreement with CDSL and MCS Ltd, Calcutta (R&T Agents) for dematerialisation of shares.
2000
2003
Delisting of its equity shares from Jaipur, Madras and Kolkata Stock Exchanges.
2003
