Midfield Industries Ltd. Company History and Annual Growth Details

Our Company was incorporated in the year 1990 under the name "Midfield Steels Pvt. Ltd" with the object
of tapping an emerging niche segment of industrial packaging in India. We started our manufacturing
activities in the year 1993 by setting up facilities at IDA Jeedimetla, Hyderabad to manufacture low tensile
steel strapping with an installed capacity of 3600 MTA (Metric Tonnes per Annum). Mr.Appasani
Radhakrishna and Mr.Kancherla Bala Bhanu promoted our Company. Mr. A. Radhakrishna was
appointed as its Managing Director. Mr. Madhu Mohan Reddy, the present Chairman and Managing
Director, joined the Company in the year 1994 as General Manager charged with the responsibility of
directing the marketing efforts of our Company to tap new clientele from varied industrial sector(s). Mr.
Madhu Mohan Reddy brought with him an experience of 13 years in the field of Industrial Packaging.
Prior to joining our Company, he was working with ITW Signode India Ltd. as Divisional Manager - Apex
(Steel Strapping). With the coordinated efforts of all associated, we were able to tap new customers and
secure orders from customers across India. In 1996, Mr. Madhu Mohan Reddy was co-opted on the
Board of the company as Director. In the year 1997, owing personal reasons, Mr. A. Radhakrishna
decided against continuing with our Company and requested Mr. K.Balabhanu & Mr. Madhu Mohan
Reddy to take over the reins of the Company on Âas is where is basisÂ. Accordingly, they took over the
reins of the Company with Mr.K.Balabhanu appointed as the Managing Director of the company. In July
1998 Mr. K Balabhanu also decided against continuing with the company and part ways. Mr. Madhu
Mohan Reddy took over the mantle as a Promoter of our Company, as well as, the reins of the business
from Mr. K.Balabhanu and was appointed as its Managing Director and continues to be so till date.

On December 17, 1996, the registered office of the Company was shifted from 12-2-418/3/26, Lovedale,
Viswas Nagar, Mehdipatnam, Hyderabad - 500028 to Plot No 6, IDA, Phase IV, Jeedimetla, Hyderabad -
500055.

The name of our Company was changed to ÂMidfield Industries Private LimitedÂ and a fresh Certificate of
Incorporation dated April 3, 2006 was granted. Subsequently, our Company was converted into a Public
Limited Company, and a fresh Certificate of Incorporation dated July 7, 2006 was granted.

Key Events and Mile Stones

Year Events

1990 Company Incorporated as ÂMidfield Steels Pvt. Ltd.Â

1993 Commenced commercial production of steel straps with installed capacity of 3600
MTPA from unit at Plot No 6, Phase-IV Extn, IDA Jeedimetla, Hyderabad - 500055,
Andhra Pradesh

1998 Mr. M Madhu Mohan Reddy took over the reins of the business from then Managing
Director on Âas is where isÂ basis

Started production of Seals and L-plates

1997 Company came out with Rights Issue in the ratio of 4:5 for existing shareholders
Installed Heat Treatment Line with capacity of 3600 MTPA for processing low tensile
steel strapping in to high tensile steel strapping

2000 Increased capacity to manufacture steel strapping to 4800 MTPA at our existing unit in
Hyderabad

2001 Started export business with first consignment sent to Sri Lanka

2002 Initiated New Business Line of trading in VCI Papers

Diversified business scope by starting ÂOperations ContractÂ

2005 Expanded capacity of Low Tensile Steel Strapping by 7200 MTPA to 12000 MTPA

2006 Initiated new product line - Angle Boards - Capacity of 25 lakh meters p.a.

Name changed from ÂMidfield Steels Private LimitedÂ to ÂMidfield Industries Private
Limited

Converted into a Public Limited Company and became ÂMidfield Industries LimitedÂ

Introduced new product - Collated Nails - capacity of 60,000 coils p.a.

Increased capacity to manufacture collated nails to 120,000 coils p.a.

2007 Company issued Bonus shares in the ratio of 1:2 to all existing shareholders

Entered into JV with M/s.Centaur Equipos de Flejado, S.L., a Company incorporated in
Spain for setting up steel strap manufacturing facility in India

Expanded capacity for Angle Boards by adding a production line with a capacity of 25
lakh meters p.a. (at Hyderabad)

Set-up a unit in Roorkee, Uttaranchal for manufacturing Angle Boards with capacity of
25 lakh meters p.a.

Upgraded the machinery for Collated nails - installed fully-automated plant with
capacity of 4.2 lakh coils p.a.

Added PET Straps and Stretch Films to our kitty of Products offered

2008 Expanded capacity for Angle Boards by adding one more production line capacity 25
lakh meters p.a. (at Hyderabad)

Added Heat Treatment Line with capacity of 8400 MTPA for processing low tensile
steel strapping in to high tensile steel strapping taking capacity at Hyderabad to 12000
MTPA

Initiate work for setting up a factory at District Thane, Tal. Wada.

2011

-Board recommends Final Dividendof 20 %.

2012

-The Company has recommended final dividend of 25% i.e., Rs 2.50

Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article