Triton Corp. Ltd Company Summary

Triton Corp. Ltd Summary

Incorporated in Apr.90 as a Public Limited Company, Triton Copr. Ltd., formerly known as Stencil Apparel was promoted by Amit Judge and his Associates. The Company is engaged into IT & ITeS operation, call centre services and providing management and consultancy of information technology and related services.The Company came out with a public issue in Feb.91 to part-finance its project of setting up a plant at Noida, Uttar Pradesh, to manufacture 7000 shirts and 2500 trousers/jeans pd. Commercial production at the trouser plant and the shirt plant commenced in Sep.91 and Dec.91 respectively. In 1992-93, the company incurred losses. In the next year, it changed the product-mix resulting in lower raw material costs and substantial reduction in expenses and it could post a profit.On the export front, the company supplies to global brands including Cacharel, C&A, Grigio Perla, Fila, Boggi, Liz Claiborne, etc. In 1993-94, it forged a new tie with brands like Nautica, Atlantis and Anyway.In 1994-95, the company implemented a restructuring scheme with the consent of the financial institutions to pay back the high cost debts of the institutions. In 1995-96, the company sold one of its manufacturing facilities at Noida Phase II, the proceeds of which along with the funds brought in by the promoters were utilised directly for settling the high cost debts of financial institutions.During the year 1999-2000, the company has been declared sick and has been referred to BIFR.As informed in the last year the company has been referred to BIFR and a rehabilitation scheme has been approved under which M/s Rajendra Seclease has been inducted as a co-promoter and the company has acquired the stake.The New management is planning to start new business of manufacturing, trading & marketing to improve the bottom line of the company.The Scheme of Amalgamation of Saffron Global Limited, Webrizon (India) Ltd and Sai Info Limited with the Company became effective from 1st April, 2004. Equity share capital of the Company consisting of 99944825 (inclusive of 8,62,04,825 equity shares allotted to the share holders of Transferor Companies as per the Scheme of Amalgamation as approved by the Honble High Court of Delhf) equity shares of Rs. 2/- each were re-listed at the Bombay Stock Exchange on 09.1 1.2006.Company acquired 1 00% equity of Maple eSolutions Ltd w.e.f. 01.01.2007. Accordingly, Maple became 100% subsidiary of the Company w.e.f. 01.01.2007. Similarly, it acquired 100% equity shares of M/s. Westtalk Corporate Limited,UK, and Westtalk became a wholly owned foreign subsidiary company w.e.f. July 2,2007 during 2007-08.