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Ahura Welding Electrode Manufacturers Ltd.

BSE: 530749 Sector: Engineering
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Ahura Welding Electrode Manufacturers Ltd
NSE 05:30 | 01 Jan Ahura Welding Electrode Manufacturers Ltd

Ahura Welding Electrode Manufacturers Ltd. (AHURAWELDING) - Company History

Ahura Welding Electrode Manufacturers (AWEML) was incorporated on 31 Dec.'63 as a public limited company. The company was promoted by Soli Hataria, A K A Rahaman Sait, K Sunder Raj, G N Venkatapathy and a few others. AWEML was taken over by the Surat-based Patel group in 1972. P M Patel is the Executive Chairman. The other group companies are Welding Rods Pvt Ltd, Wonderweld Electrodes Pvt Ltd, Kimura Steels, etc. In Apr.'95, the company came out with a public issue of 20 lac equity shares (premium : Rs 30), aggregating Rs 8 cr, to part-finance its project to manufacture special electrodes (inst. cap. : 1000 tpa), to expand the texturising capacity (by adding three texturising machines with a capacity of 216 spindles each) from 192 spindles to 840 spindles, etc, at a project cost of Rs 8 cr. The company ventured into textiles in 1988. The electrodes of the company are marketed under the brand name Sun Arc. Its major clients include BHEL, BEML, L&T and many others. The company exports to Bahrain, Kuwait, Bangladesh and Srilanka. In 1999-2000, the financial performance of the company was severely affected due to workers strike followed by the truckers strike, as a result the Chennai unit ceased operation from January'2000 and thereby reduce overheads of the company.