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History of Lloyds Metals and Engineers Ltd.

YEAR EVENTS 1977 - Llyods Metals and Engineers Limited [LMELs] was incorporated on 5th April, as a Private limited Comp. in the name of Nagarjuna Metals & Engineers Private limited The Comp. was converted into a Public limited Comp. on 9th September 1986. The Comp. is having Manufacturing facilities for fabricating S.S. Patta with a capacity of 1,800 tpa. & 10,000 tpa. for fabrication of equipments etc. The Comp. was promoted by R.N. Gupta.

1987 - LMEL obtained the licence to manufacture 12,000 tpa. of C.R. Strips.

1990 - The name of Comp. was changed to the present one on 5th January.

1991 - The Comp. commissioned additional 4-Hi cold rolling mill thereby increasing the installed capacity of plant from 12,000 tpa. to 46,000 tpa.

1993 - 900 No. of Equity shares subscribed for by signatories to the Memorandum of Understanding. 50,05,000 shares allotted to the promoters.

1994 - 50,05,900 bonus shares issued in prop. 1:1.

1995 - The Sponge iron division profitability was affected by non availability of higher transportation cost. It proposed to undertake an iron ore mining project, construction of railway sidings & setting up captive power plant by using the energy generated from waste gases produced in the process of making sponge iron.

- During September the Company coal based sponge iron plant at Ghugus in Chandrapur district having a capacity of 1,50,000 tpa. in the first phase was commissioned. This was to meet the raw material requirements of Lloyds Steel Industries situated at Wardha. This backward integration plan was an addition to the groups forward integration plan for producing value added CR & galvanised sheets.

- During Feb. the Comp. issued 66,41,750 No. of equity shares of Rs 10 each at a prem. of Rs 140 per share as follows:

- [is] 25,02,900 shares on rights basis at a prem. of Rs 140 per share.

- [iis] 41,38,800 shares through prospectus at a prem. of Rs 175 per share as follows on firm allotment basis: [as] 1,00,000 shares to IDBI, [bs] 2,00,000 shares to UTI, [cs] 50,000 shares to Industrial Bank limited [ds] 2,25,000 shares to Indian Mutual Funds, [es] 4,00,000 shares to NRIs.

- Of the remaining, following were issued on preferential basis. [as] 53,600 shares to employees, [bs] 4,13,800 shares to residential shareholders of Group companies. Balance 26,96,400 shares issued to the public.

1996 - The sponge iron division undertook the wake of second phase to double the sponge iron plant capacity.

1997 - Lloyds Metals was set up as part of backward integration of Lloyds Steel into sponge iron.

- The Comp. has been awarded a mining lease of 450 hectares at Gadchiroli [Maharashtras].

1998 - The Credit Analysis & Research Ltd [CAREs] has downgraded Lloyds Metals and Engineering Ltd [LMELs] three non-convertible debenture issues [NCDss] from A-to BB. The rating has been downgraded from strong to default category.

1999 - Sponge Iron Division Energy conservation survey has been carried out by Petroleum Research Institution. Accordingly cooling towers fan metallic blades have been replaced with fiber blades to reduce power consumption of fans.

- Sponge Iron Division has been successful in completely absorbing the technology obtained indigenously.

2007

- The Comp. has splits its face value from Rs10/- to Rs2/-.

2008

-Lloyds Metals and Engineers Ltd has appointed Mr. B B Chadha as Additional Independent Director with effect from this Board meeting i.e. July 28, 2008.

-Lloyds Metals and Engineers Ltd has informed that as per intimation received from IDBI Bank limited Smt. V M Bharathy has been appointed as Nominee Director of IDBI Bank Ltd w.e.f. September 08, 2008, in place of Mr. D K Kambale.