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Bharat Pipes & Fittings Ltd.

BSE: 513028 Sector: Industrials
NSE: BHARATPIPE ISIN Code: N.A.
BSE 05:30 | 01 Jan Bharat Pipes & Fittings Ltd
NSE 05:30 | 01 Jan Bharat Pipes & Fittings Ltd

Bharat Pipes & Fittings Ltd. (BHARATPIPE) - Company History

Incorporated in Jun.'81 as Bharat Impex Pvt Ltd Bharat Pipes and Fittings (BPFL) acquired its present name in Jan.'85. It was promoted by the present managing director Pravin V Sheth. BPFL is the flagship of the Bharat Pipes group which includes companies like PVD Plast Mould Industries and Kunststoffe Industries. BPFL manufactures rigid PVC pipes and fittings PVC foams rigid PVC sheets and heat-shrinkable films. In Mar.'94 BPFL came out with a Rs 26.5-cr rights (1:10) issue of FCDs to part-finance the diversification programme of setting up facilities at Daman to manufacture 7755 tpa of regular and special extruded PVC integral skin foam profiles (PIF profiles) and meet long-term working capital requirements totalling Rs 31.79 cr. PIF profiles are basically wood substitutes which may be in the form of panels channels joints etc and can be used as building material in interior decoration and furnishing. The profiles can be surface printed to enhance the aesthetic appeal which distinguishes them from rigid PVC profiles. The company has entered into an MoU with Brabor Italy the technical collaborators. The company embarked on an HDPE pipe plant involving an investment of Rs 10 cr. This went into production in Mar.'95. Another plant to manufacture foam and rigid PVC sheets (involving an investment of Rs 12 cr) went on stream in Oct.'93. The sheets are mainly exported to the UK and Europe. It is also engaged in trading activities. During the year 1994-95 the company has suffered heavy losses mainly due to the rise in raw materials.In the same year second conversion of Zero interest secured full convertible debentures has taken place in June 1995.The company earned Rs 5.02 cr through foreign exports.