History of Ravi Hi-Tech Ltd.

Ravi Hi-Tech Limited was incorporated on 2.1.1989 as a Private Limited Comp. with Registrar of Companies, Bihar at Patna. Subsequently, on 24.9.1990 by a special resolution it has been converted into a Public Limited Company. The Comp. has started its commercial production in May, 1990 at its plant at Adityapur Industrial Area, Jamshedpur to produce Steel Ingots & Steel Castings. The main object of Comp. is to set up a most modernised foundry at Taluka Kalol, Dist. Panchmahals of Gujarat & to expand capacity at Jamshedpur Plant from 4,800 MT to 18,800 MT.

In its very first accounting period of 11 months of operation, Comp. has achieved sales of Rs 179 lacs & Profit before Tax Rs 21.12 lacs for this year ended 31.3.1991.

PROMOTORS : The Comp. was promoted by Shri S K Choudhary, a qualified Chartered Accountant with more than 14 years experience for working in various steel companies like Usha Alloys and Steels Ltd., as its Accounts Manager, Bihar Alloys and Steels Ltd., as Commercial Manager & Quality Steels and Forgings Ltd., as Whole ¨time Director. Presently he is director of several companies.

The other two promoters of Comp. are Mr M.K. Choudhary, a Commerce and Law Graduate & Mr D K Choudhary, a Science Graduate having experience of more than 10 and 5 years respectively in this line of business.