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Ushdev International Limited
Sector:Others Others - Miscella - Others
BSE:511736NSE:USHDEVINTBloomberg:UTF@INReuters:USTF.BO
Market Lot: 1Face Value: 1ISIN Demat: INE981D01025
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27-Mar-2014
Business Profile
Ushdev International (USHDI) is a power generating and trading company. It was formed on May 4, 1994 and is part of the Ushdev group that deals in imported pig iron, steel scrap, and non-ferrous metals.

The core activities are power generation and trading of steel. Steel trading being its parent business, the company started investing into power generation through windmills from 1997 onwards. It has been trading in flat products of steel such as HR (hot roll) coils and HR pickled coils, CR (cold roll) sheets and corrugated sheets, galvanized sheets and coils, and other products. It purchases the products from some of the most reputed manufacturers in India.

The first wind mill project was set up in 1997 for the generation of a 2.53 MW capacity wind mill in Tamil Nadu. By July 2007, it commissioned its 3.2 MW wind mill farm in the Jamnagar district of Gujarat at an investment of Rs 160 million. With this, the company`s wind power division would now entail a total investment of Rs 670 million. It has received clearance for carbon credit from UN Framework Convention of Climate Change (UNFCC) for its Rajasthan and Karnataka projects. Ranked as the 17th fastest growing company in the SME sector by the Economic Times Investor`s Guide dated June 18, 2007, the company has also been ranked as the 5th fastest growing company amongst the Top 25 small companies by Dalal Street Journal magazine in its issue of September 2007.

The registered office is located at 13/386, Civil Lines, Kanpur-208001, Uttar Pradesh.


Financials
The company reported rise of 24.52% in consolidated net profit on y-o-y basis to Rs 298.10 million, while total income fell 100.00% y-o-y basis to Rs 0.00 million for the quarter ended June 2013.

Recent Developments
27-MAR-14
Ushdev International said that the board of directors of UIL (Singapore), a subsidiary of the company has approved a fresh issue of 5,798,000 ordinary shares to UD Trading Group Holding, for an aggregate consideration of USD 8.34 million.

29-OCT-13
Ushdev International disclosed a sharp rise in consolidated net profit for the quarter ended September 2013. During the quarter, the profit of the company rose 2.12 times to Rs 441.61 million from Rs 208.76 million in the same quarter previous year.

04-MAR-10
Ushdev International announced that it has placed an order on Kenersys India (P) for turnkey installation of four wind turbines having a capacity of 2mw each.

18-JAN-10
Ushdev International, engaged in power generation today announced that the company has placed a further purchase contract with Vestas Wind Technology India for 16.5 MW which is to be commissioned by May 2010.



In Brief

 
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