Sri Havisha Hospitality & Infrastructure Ltd Share Price

Summary

Promoted by D V Manohar, D V Satyakumar and their associates, Sri Havisha Hospitality & Infrastructure Limited SHHIL) [Formerly known as Shri Shakti LPG Limited (SSLPG) and Shri Matre Power And Infrastructure Limited (SMPIL)] was originally engaged in business of LPG marketing. since its incorporation in July, 1993.SHHIL were the pioneer in the field of LPG marketing and established large integrated infrastructure to carry LPG from dock (Port) to the door of customers, which consisted of dedicated port facilities, large storage terminals, network of bottling plants and distribution and marketing networks.The Company was able to do well from the commencement of commercial operations in 1995 till 1999 and became profitable. Infact, it emerged as the countrys largest private sector LPG company. However, due to abnormal rise in crude oil prices during 1999 to 2000, the international LPG prices also shot up. Despite the big spurt in sourcing cost, it was not possible to proportionately increase the prices due to competition with the Government Subsidized gas by virtue of which the Company incurred losses. This was aggravated in subsequent years due to the growing disparity in prices between the private LPG operators and the PSU Oil Undertakings, on account of non-removal of subsidy as promised by the Government of India (GOI). The GOI did not honor its commitments to withdraw subsidy in a phased manner which led to the crisis in Private Sector LPG Industry. Because the Companys de
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