BHAGYANAGAR INDIA LTD.

BHAGYANAGAR INDIA LTD.

Previous company name
BHAGYANAGAR METALS LTD.
Name change date
8/10/2006
Company Overview
Bhagyanagar India Ltd., formerly known as Bhagyanagar Metals, is a publicly quoted company engaged in the manufacture of insulated wire and cable. The company was founded in 1978 and has its registered head office located in Andhra Pradesh, India.
Bhagyanagar India’s principal activity is to manufacture copper products and jelly filled telecom cables. The company also ventures into the business of real estate and infrastructure development and non conventional power generation. Copper products include copper coils, strips, sheets flat pipes apart from polyethylene insulated jelly filled (PIJF) cables of various size, polyethylene compound and auto electrical components. Bhagyanagar India has five manufacturing facilities out of which two units are utilized for copper business and three units for cable business. Its plants are located in Andhra Pradesh, Karnataka and Goa.
Business Summary
The Company is engaged in the business of metals, cables, compounds, real estate and wind power.
Description and history
The Company is engaged in the business of metals, cables, compounds, real estate and wind power.

HISTORY:

The Company was incorporated in 1985 and got its current name on Sep. 04, 2006.

The Company operates through its divisions of jelly-filled cables, copper, field coils and polythene compounds.

The product portfolio includes jelly-filled telephone cables; oxygen-free high conductivity copper in rods, strips, conductors, pipes, sheets and foils; copper solar fins and bus bars; copper field coils; and polythene compounds. The Company has a production capacity of 4.5 million CKM of jelly-filled cables, one million pieces of copper field coils, and 10,000 MTPA of polythene compounds used in the manufacture of jelly-filled telephone cables and optical fiber cables.

In 2007, the company forayed into wind power generation with the installation of seven wind turbine generators having a total capacity of 9 MW in Kapatguda, Karnataka. It has a power purchase agreement for a period of 20 years with Hubli Electricity Supply Company and Gulbarga Electricity Supply Company. A special purpose vehicle (SPV) called Bhagyanagar Entertainment Infra & Development Company with IL&FS Infrastructure Development Corporation undertakes various infrastructure and entertainment projects. Through its subsidiaries Bhagyanagar Properties and Scientia Infocom India, the company has acquired 25 acres of land in Gachibowli, Hyderabad for a housing project. Bhagyanagar Infrastructure, Metropolitan Ventures India and Bhagyanagar Metals, which has a tie-up with Guocoland (Singapore), are the other subsidiaries.

Major orders include the supply of telecommunication cables valued at INR 350 million to Bharat Sanchar Nigam (BSNL). Other clients include Mahanagar Telephone Nigam, railways, defense and other public/private sector organizations. Copper field coils are supplied mainly to Lucas-TVS. The registered office is located on 5th Floor, Surya Towers, Sardar Patel Road, Secunderabad-500003, Andhra Pradesh.

Financials :

The Company announced rise of 14.74% in standalone net profit on y-o-y basis to Rs 43.99 million, while total income rose 9.65% y-o-y basis to Rs 472.81 million for the quarter ended September 2010.

Recent Developments
04-DEC-09
The Company announced that in terms of the existing regulations of the Reserve Bank of India, the company has bought back 10 FCCB`s each of USD 1,00,000 aggregating USD 1 million (Nominal value) at a discount out of the total 150 FCCBs aggregating USD 15 million issued by company on Oct. 10, 2006.

Formerly known as Bhagyanagar Metals

Business Line
Manufacture copper products and jelly filled telecom cables
Subsidiary
BARTRONICS INDIA LTD.
Advisor
SEKHAR & CO.,
IPO date
7/24/2000
US SIC Code
3339
Company Address
Surya Towers, 5th Floor
S.p Road, Secunderabad
City province or state postal code
500 003
Phone: +91 40 44665700
Fax: +91 40 27818868
Country address: INDIA
Website url: