Amforge Industries Ltd

Amforge Industries Ltd

Amforge Industries (AIL) incorporated on 21 Apr.'71 as Hakimrai Jaichand Forgings Pvt Ltd and took over the running business of the partnership firm Hakimrai Jaichand which was mainly engaged in the business of forgings. The name of the company was changed to Amforge Industries on Dec 9 1995 and it became a public limited company on Jan 16 1986. Later in April 1994 Isha Steel Processors was amalgamated with Amforge. AIL is the second-largest manufacturer of forgings in the country. It produces a wide range of quality steel forgings from it's plants at Mumbai Pune Faridabad and Khopoli. 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. Amforge'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 35000 tpa. In 1996-97. after the initial phase of stabilization the new precision forging plant at Chakan Pune became fully operational. This year the company has also undertook an exercise aimed at improving operational efficiency and productivity with the help of an internationally reputed consulting firm.