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Amforge Industries Ltd.

BSE: 513117 Sector: Engineering
NSE: AMFORGEIND ISIN Code: INE991A01020
BSE LIVE 15:15 | 21 Jul 5.76 0.03
(0.52%)
OPEN

5.95

HIGH

5.95

LOW

5.73

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 5.95
PREVIOUS CLOSE 5.73
VOLUME 2250
52-Week high 6.20
52-Week low 2.77
P/E
Mkt Cap.(Rs cr) 9
Buy Price 5.76
Buy Qty 4876.00
Sell Price 5.80
Sell Qty 500.00
OPEN 5.95
CLOSE 5.73
VOLUME 2250
52-Week high 6.20
52-Week low 2.77
P/E
Mkt Cap.(Rs cr) 9
Buy Price 5.76
Buy Qty 4876.00
Sell Price 5.80
Sell Qty 500.00

Amforge Industries Ltd. (AMFORGEIND) - Company History

Amforge Industries (AIL) was incorporated on 21 Apr.'71 as Hakimrai Jaichand Forgings Pvt Ltd by chairman and managing director Yogiraj Makar and vice-chairman Surindernath Makar. The company became a partner in the partnership firm of Hakimrai Jaichand which was mainly engaged in the business of forgings. It took over the running business of the said firm. The name of the company was changed to Amforge Industries on 9 Dec.'95, and it became a public limited company on 16 Jan.'86. AIL is the second-largest manufacturer of forgings in the country. It produces a wide range of quality steel forgings. The manufacturing units are located in Bombay and Khopoli, Maharashtra. The company's product range includes crankshafts, transmission gears and shafts, track links, crown wheels and pinions, stub axles, spindles, differential cases and covers, bull gears, draft gears, etc. AIL's clientele includes TELCO, Ashok Leyland, Maruti Udyog, Bajaj Auto, Bajaj Tempo, Mahindra & Mahindra, Escorts, etc. It came out with a public issue of 14.19 lac 12.5% PCDs of Rs 100, aggregating Rs 14.19 cr, in Jul.'90. The proceeds of the issue were utilised to part-finance its Rs 25.19-cr expansion project to increase the forgings capacity to 35,000 tpa. The Bombay High Court has approved the amalgamation of Isha Steel Processors with AIL with effect from 1 Apr.'94. During 1996-97 the new precision forging plant at Chakan, Pune became fully operational after its initial phase of stabilization. During the same year the company also undertook an exercise aimed at improving operational efficiency and productivity with the help of an internationally reputed consulting firm. To counter the challenges posed by the industry recession and severe competition, the Company had undertaken re-organisation exercise to make each plant a strategic business unit ( Profit center) with accountability for bottom line. The Company also undertook a feasibility study to improve the bottom line.