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Vishwas Infocom Industries Ltd.

BSE: 513573 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE014C01019
BSE 05:30 | 01 Jan Vishwas Infocom Industries Ltd
NSE 05:30 | 01 Jan Vishwas Infocom Industries Ltd

Vishwas Infocom Industries Ltd. (VISHWASINFOCOM) - Company History

Incorporated on 6 Apr.'90, Vishwas Steels was converted into a public limited company on 31 Jan.'92 by the registrar of the companies. The promoters of the company are Hemant M Chadha, Punit M Chadha and Rajkumar B Sabharwal. The company is engaged in the manufacture of mild steel bar with an installed capacity of 24,000 tpa at Thane. It is expanding its capacity from 24,000 tpa to 48,000 tpa, by installation of 8 MT induction furnance. The total cost of the project is Rs 8 cr. It has come out with a public issue of 50,00,000 equity shares at par aggregating to Rs 5 cr. The company has set up integrated steel plant having capacity of 1,20,000 TPA of MS billets and 90,000 TPA of structural steel, in Goa, the commercial production had started in March 98 before scheduled time of Aril-98 & commercial production of the Rolling Mill Division is expected to commence soon. The company successfully implemented the 13" automatic hot rolling mill and the production has also started. The Company is utilising the locational advantages both at Tarapur & Goa which will substain growth & profitablity in the years to come. During the year 1999-2000, the company has launched its portal - With this foray into the IT sector, the company was renamed Vishwas Infocom Industries Ltd. The rolling mill division at Goa commenced its operations but on account of a number of unforseen and uncontrollable problems the plant could not operate continuously on a commercial basis. Since the losses has exceeded the entire net worth of the company, it has decided to make a reference to BIFR under Sick Industrial Companies Act, 1985.