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Everest Kanto Cylinder Ltd.

BSE: 532684 Sector: Industrials
NSE: EKC ISIN Code: INE184H01027
BSE LIVE 15:45 | 15 Dec 66.30 3.10
(4.91%)
OPEN

63.70

HIGH

68.15

LOW

63.35

NSE 15:57 | 15 Dec 66.30 3.15
(4.99%)
OPEN

64.00

HIGH

68.20

LOW

63.30

OPEN 63.70
PREVIOUS CLOSE 63.20
VOLUME 817478
52-Week high 77.75
52-Week low 29.55
P/E
Mkt Cap.(Rs cr) 744
Buy Price 0.00
Buy Qty 0.00
Sell Price 66.30
Sell Qty 2074.00
OPEN 63.70
CLOSE 63.20
VOLUME 817478
52-Week high 77.75
52-Week low 29.55
P/E
Mkt Cap.(Rs cr) 744
Buy Price 0.00
Buy Qty 0.00
Sell Price 66.30
Sell Qty 2074.00

Everest Kanto Cylinder Ltd. (EKC) - Company History

Everest Kanto Cylinders Ltd is a major player in High Pressure Seamless Steel Gas Cylinder Industry. They manufacture wide range of cylinders for industrial gases, medical gases, fire fighting equipments, beverage industry, accumulator shells, aerospace, scientific research and CNG- NGV cylinders. They also manufacture storage cylinders cascades complete with fittings and accessories for CNG and other industrial use. Everest Kanto Cylinders Ltd was incorporated in the year 1978. In the same year, the company in collaboration with Kanto Koatsu Yoki Manufacturing Company, Japan set up a manufacturing unit at Aurangabad. In the year 1981, they started commercial production in their Aurangabad plant. In the year 1985, they expanded their manufacturing capacity with in-house technology by setting up a new facility at Tarapur to manufacture the widest range of High Pressure Gas Cylinder. The company set up a new state of the art manufacturing facility at Dubai, in order to tap the emerging potential for cylinders in Iran, Pakistan and Bangladesh. This plant commenced their production during the year 2003-04. In April 2005, the company entered into a joint venture agreement with China based Cangzhou Gas Corporation for producing and selling high pressure gas cylinders. In December 2005, the company commenced their production at Gandhidham which has the production capacity of 340000 cylinders per annum. During the year 2006-07, the company formed two wholly owned subsidiary namely EKC International FZE in Dubai and EKC Industries (Tianjin) Ltd in People's Republic of China. The company sold their fixed assets of their branch at Dubai to EKC International FZE, Dubai. This unit catered the growing demand from South East Asia, Middle East and CIS countries. In October 2007, EKC International FZE, the wholly owned subsidiary of the company in Dubai successfully commissioned their second plant in Dubai. During April 2008, EKC International FZE, wholly owned subsidiary of the Company in UAE has formed a wholly owned subsidiary in Hungary by the name of EKC Hungary Ltd. Further, EKC Hungary Ltd formed a wholly owned subsidiary in USA by the name of CP Industries Holding Inc. In April 21, 2008 EKC group acquired all the assets of CP Industries Inc, a division of Reunion Industries Inc, USA for an amount of USD 66.3 million. EKC Industries (Tianjin) Co Ltd, the wholly owned subsidiary of the company in People's Republic of China completed the trial production phase and commercial production commenced during May 2008. In October 2008, the company received an order for a value of USD 13 million form Pakistan and Middle East countries for the supply of CNG cylinders through their wholly owned subsidiary, EKC International FZE, Dubai. The company is implementing new project at their existing facility in Gandhidham which would result in creation of a 200,000 cylinders per annum and commissioning of these plant is expected during end of the financial year 2008-09. The company is in the process of setting up a cylinder manufacturing plant at Kandla Special Economic Zone. This plant is expected to be commissioned during the first quarter of financial year 2009-10.