Bonlon Industries Ltd - Stock Valuation and Financial Performance

The company was incorporated on January 21, 1997 as a private limited company under the provisions of Companies Act, 1956 with the Registrar of Companies, Jaipur in the name and style of Bonlon Steels Private Limited. Subsequently, the registered office of the company was shifted from Jaipur to New Delhi i.e. from one state to another w.e.f. December 01, 1998 with due approval of the Company Law Board, Northern Region Bench vide order dated October 29, 1998. Later on, the name of the company was changed from Bon Lon Steels Private Limited to Bonlon Industries Private Limited w.e.f. February 26, 2019. Further, the name of the company was again changed to Bonlon Industries Limited pursuant to its conversion into a public company vide shareholder’s approval dated March 01, 2019 and fresh certificate of incorporation dated March 29, 2019 issued by Registrar of Companies, Delhi.

The company began its operations in the year 1997 with the trading of copper rods and copper bars which were manufactured by renowned market players like Hindustan Copper, Sterlite India and Hindalco Industries. Later on, in the year 2006 it began supervising the manufacturing activities of Colombo Copper, a company based in Colombo, Sri Lanka which was engaged in the business of manufacturing of copper bars. The manufactured copper made bars were imported by company in India and thereafter producing copper wires from the same on job work basis, they were then sold in the market by it. The company carried such activity for two years after which it started the manufacturing activity of copper bars from scrap in its partnership firm i.e. at first in Vaishno Metals and Allied Industries in Jammu and later on in B.C. Power Controls. With the evolution of time, it gained experience in the manufacturing, trading, and marketing of the products made from copper. Eventually in the year 2013, for the production of the copper rods, it started its own manufacturing unit at, RIICO Industrial Area, Bhiwadi, Alwar, Rajasthan.

In order to synergize the operations and attaining higher business efficiencies, three of company’s group companies i.e. Smita Global (hereinafter referred as transferor company no. 1), Harshit Promoters (hereinafter referred as transferor company no. 2) and Harshit Infratech (hereinafter referred as transferor company no. 3), that were engaged in different segments of business, were amalgamated with the company in pursuance of Section 230-232 of the Companies Act, 2013 and the Order of the Hon'ble National Company Law Tribunal, Principal Bench, New Delhi dated June 13, 2018. In consequence to such amalgamation, the company is now operating its business in accordance to the new Memorandum of Association that contains the objects of the transferor companies as well. It is continuing its operations in all those the segments in which the aforesaid transferor companies were dealing and hence the business of the company is broadly categorized into the three segments i.e Metal, Hotel and Civil Construction.

Business area of the company

The company is engaged in diversified sectors namely metal business, hotel business and civil construction.

Major Events and milestones:

• 1997: The company was incorporated as Bonlon Steels Private Limited.
• 1998: The company’s registered office was shifted from Jaipur to New Delhi.
• 2006: Started supervision of manufacturing activities of a Colombo based Company named Copper Bars Private Limited.
• 2013: Started own manufacturing unit in Bhiwadi, Rajasthan.
• 2014: Turnover crossed Rs 10,000 lakh.
• 2017: Turnover crossed Rs 24,000 lakh.
• 2018: Amalgamation of three group companies with company.
• 2019: Name was changed from ‘Bonlon Steels Private Limited to ‘Bonlon Industries Private Limited’.
• 2019: Converted into Public Limited Company vide fresh certificate of Incorporation dated March 29, 2019.