CORPORATE OVERVIEW
The equity shares of the Company are listed on BSE Limited having ISIN: INE929D01016
The Company’s business was operating under challenging environment due to various macro-economic factors. Apart from that the high cost of raw material and its supplies and the high Interest Cost were also the factors which lead reduction in borrowing powers of the Company and Banks had reduced the working capital exposure of the Company due to downward performance of the Company. Considering all the above factors and challenges which were beyond the control of Company despite several attempts to turn it around, the management had decided not to incur continued operational losses and decided to close its manufacturing operations at its unit located at SP – 825, Road No. 14, V K I Area, Jaipur -302013.
The Company’s manufacturing unit has been closed with effect from 09th December, 2022. The Plant and Machinery of the Company had remained close and hence getting obsolete with the period. Hence it was not yielding any benefit to the Company. To reduce the interest cost and to pay off its creditors, the substantial Plant and Machinery of the Factory Situated at SP-825, Road No. 14, VKI Area, Jaipur-302013 was disposed off.
However, The Company is in process to appoint a consultant for setting up a new business / project.
The existing annual capacity of all the divisions were as follows:-
a) LPG Cylinders 7,00,000Nos.
b) S.C.Valves : 30,00,000Nos.
c) Domestic Pressure Regulators : 9,00,000Nos.
d) LPG Bottling : 15,000M.T.
The Company sold its products i.e. LPG Cylinders, Valves and Domestic Pressure Regulators to the Oil Marketing Companies of Government Sectors. It also manufactures the Cylinders, Valves and regulators for its customers at Nepal.
The Company’s operations were mainly depends upon the order released by the Oil Marketing Companies which were influenced by Government Policies. In the case of lower orders Company mainly participated in the tenders on marginal costing basis so that operational losses if any, could be kept to minimum.
Eventually, it was one of the oldest company in India which provides all the facilities stated above under one roof.
