Bharat Wire Ropes Ltd Company Summary

Bharat Wire Ropes Ltd Summary

Bharat Wire Ropes Limited was incorporated as Bharat Ropes Private Limited on July 24, 1986, at Mumbai, Maharashtra. The Company was converted into a Public Limited Company and the name was changed to Bharat Ropes Limited and a fresh Certificate of Incorporation was granted on June 10, 1992. Thereafter, the Company name was changed from Bharat Ropes Limited to Bharat Wire Ropes Limited and a fresh Certificate of Incorporation was granted by the Registrar of Companies, Mumbai, on July 5, 1996.Bharat wire is an ISO 9001:2008 certified company. The Company is one of the largest manufacturers of Wire, Wire Ropes, Stranded Wires and Slings in India, with an increasing global presence, catering more than 30 countries globally. The company exports its varied products to USA, Singapore, Australia, South Africa, Kuwait, New Zealand, Vietnam, Bangladesh and Nepal. The existing steel wire ropes manufacturing facility with an installed capacity of 12,000 MTPA is located at Atgaon. The Company also has a Pyrolysis Plant with an installed capacity of 1,260 MTPA at Chalisgaon, Maharashtra for production of oil, which is used as fuel into the current manufacturing process. The Company is engaged in the business of production of Wire, Wire Ropes, Strands, and Slings. It has a diverse product mix which includes General Purpose Ropes, Fishing Ropes, Crane Ropes, Structural Ropes, Elevator Ropes, Mining Ropes, Oil & Gas Ropes & Shipping Ropes. Until year 2010, the Company was owned, managed and controlled by the Shah Group. Subsequently, in 2010, one of the Corporate Promoter, Gaji Mercantile Private Limited purchased 1,06,75,490 Equity Shares of the Company and accordingly, the management of the Company changed. The Company raised capital by issuing 1,55,55,555 Equity Shares through Public Issue aggregating Rs 70 Crore in March, 2016. In 2016, the Company started project for expansion of wire ropes manufacturing facilities 66,000 MTPA at Chalisgaon, in Dist. Jalgaon of Maharashtra, with estimated cost of Rs. 507.17 Crores. In 2022-23, the Company acquired 26.72% stake in MITCON Solar Alliance Limited (MSAL) and resulting the acquisition, MSAL became an Associate of the Company. .