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Shree Pomani Metals & Alloys Ltd.

BSE: 513733 Sector: Metals & Mining
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Shree Pomani Metals & Alloys Ltd
NSE 05:30 | 01 Jan Shree Pomani Metals & Alloys Ltd

Shree Pomani Metals & Alloys Ltd. (SHPOMANIMETAL) - Company History

Incorporated as a private limited company in the year 1981, Shree Pomani Metals and Alloys, was converted into a public limited company on 1 Jul. '90. The company manufactures 5100 tpa of aluminium alloy ingots, 800 tpa of zinc ingots and 1460 tpa of copper alloy ingots at Sangli in Maharashtra. The products are used by secondary casters for obtaining cast components. The products are being marketed allover India, especially south India from its offices in Bombay, Coimbatore, Bangalore, Secunderabad, Pondicherry and Madras. The clients of the company among others include TVS Suzuki, Lucas TVS, Sundaram Clayton, Stanes Tyre and Rubber Products, NGEF, BHEL, LMW, Greaves, Kirloskar Electric. The company diversified into manufacturing lead alloy ingots (400 tpa), tin alloy ingots (400 tpa) and gravity and low pressure die castings (1800 tpa). Gravity and low pressure die castings are mainly used for various automobile components like pistons, carburettors, fuel pumps, filters, clutch assemblies, inlets and exhaust manifolds and also for the textile and engineering industries. In this segment the major clients are Mahindra and Mahindra, Premier Auto, HMT and BHEL. Due to the accumulated losses resulting in more than 50% erosion of peak networth in the year 1999-2000, the company has become a potentially sick company and a reference to the BIFR will be made for its revival.