Incorporated in Feb.'89, Vajra Granites was promoted by K G S Ranganadha Prasad and associates. It is engaged in the manufacture of granite products such as granite slabs/tiles, monuments, decorative pieces,etc. The company set up a 100% EOU to manufacture cut and polished granite slabs / panels, monuments with a capacity of 1,12,000 sq mtr of slabs and tiles, and 15,000 sq mtr of monuments in the Nizamabad district of Andhra Pradesh. Commercial production commenced in Jan.'92. In Nov.'92, the company undertook an expansion of its polishing capacity from 41,000 sq mtr to 82,000 sq mtr. The company is operating quarries in Karnataka, other than Andhra Pradesh. During 1996-97 the company succesfully identified quarries of premium colours like Black, Red, Green etc. It also started quarrying activities in Orissa to meet its raw material requirement. Further the company has made long-term arrangements with quarry owners for premium colours like Black, Black Galaxy, Red Multi, Paradisco, Green etc. and is also in the process of making such arrangements for other colours. As informed in 1999-2000 the company had become a "Sick Industrial Company" due to non-availability of quality raw blocks, world-wide recessionay trend, etc., hence reference was made to the BIFR for appropriate rehabilitation and remedial measures.