Baheti Recycling Industries Ltd Company Summary

Baheti Recycling Industries Ltd Summary

Baheti Recycling Industries Ltd was originally incorporated as a Public Limited Company under the name of Baheti Metal And Ferro Alloys Limited on December 28, 1994. Subsequently, name of the Company was changed from Baheti Metal And Ferro Alloys Limited to Baheti Recycling Industries Limited vide a fresh Certificate of Incorporation dated January 25, 2022, issued by the Registrar of Companies, Gujarat.The Company is an aluminium recycling Company, primarily engaged in processing aluminium based metal scrap to manufacture aluminium alloys in the form of ingots and aluminium de-ox alloys in the form of cubes, ingots, shots and notch bar. The versatile properties of aluminium and its alloys, results in it being used in various industries, including automobiles, construction, electrical transmission application, food packaging etc. Aluminium alloys are used in automobiles components due to its stiffness, corrosion resistance and excellent strength to weight ratio. The Aluminium de-ox alloys are used as deoxidizer in steel manufacturing units. In year 1995-96, the Company commenced their manufacturing operations of aluminium alloys in Dehgam Taluka, Gujarat. This unit has 12,000 MT installed capacity for processing aluminium scrap. Their unit has a well-equipped laboratory, modern technology and testing equipments with supporting environment and facilities, to ensure that the products conform with the pre-determined standards. Besides, their manufacturing facility is strategically located near to some of the customers manufacturing facilities allowing them to optimise deliveries, reduce lead times and facilitate greater interaction with the customers. Apart from these, the Company is engaged in trading of scrap materials such as aluminium scrap, brass scrap, copper scrap, zinc scrap etc.During the financial year 2021-22, a Scheme of Amalgamation was filed before the National Company Law Tribunal, Ahmedabad Bench (NCLT), involving the merger of Yash Metals Private Limited (the Transferor Company) with Baheti Recycling Industries Limited (the Transferee Company), which got approved on April 01, 2021 as the Appointed date and the said Scheme of Amalgamation became effective from March 07, 2022. Accordingly, the entire business undertaking of the Transferor Company stood amalgamated with the Company as a going concern and vested in the Transferee Company.The Company came out with a Public Issue during November, 2022 by raising Rs. 12.42 crores through Fresh Issue.