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Atlas Cycles (Haryana) Ltd.

BSE: 505029 Sector: Others
NSE: ATLASCYCLE ISIN Code: INE446A01025
BSE 00:00 | 02 Aug 29.00 0
(0.00%)
OPEN

29.00

HIGH

29.00

LOW

29.00

NSE 00:00 | 02 Aug 28.85 0
(0.00%)
OPEN

28.90

HIGH

28.90

LOW

28.85

OPEN 29.00
PREVIOUS CLOSE 29.00
VOLUME 406
52-Week high 51.95
52-Week low 25.00
P/E
Mkt Cap.(Rs cr) 19
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 29.00
CLOSE 29.00
VOLUME 406
52-Week high 51.95
52-Week low 25.00
P/E
Mkt Cap.(Rs cr) 19
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Atlas Cycles (Haryana) Ltd. (ATLASCYCLE) - Company History

Atlas Cycles (Haryana) Ltd. previously known as Atlas Cycle Industries (ACIL) started with the manufacture of bicycle saddles in 1951 and produced its first bicycle in 1952. From a modest beginning of 120 cycles per day the company has come a long way to become India's second-largest cycle manufacturer. It has units at Sonepat Sahibabad Rasoi and Gurgaon all in Haryana. Its combined manufacturing capacity stands at a hefty 3.1 million cycles per annum. It emerged as the largest exporter of bicycles from India. New export markets like Myanmar and South Africa were explored in 1994-95. It has been exporting components bicycles and mopeds besides tapping the fitness equipment market overseas. Its ISO-9002 certification is expected to boost exports. The steel tube manufacturing facility at Gurgaon was expanded from 25000 tpa to 50000 tpa. The expansion was funded by a rights issue of NCDs in Nov.'94. This backward integration helped Atlas stem the profit erosion due to rising costs.It continued its backward integration by setting up a 10000 tpa cold-rolled (CR) steel project (cost : Rs 14 cr) at Sonepat housed at the site used previously by its moped unit. The company has developed and implemented a sophisticated frame alignment checking and correcting fixture by employing hydraulic clamping electronic sensing and display capable of reading errors upto 0.1 mm. A new design for a rowing machine and a bicycle with front telescopic suspension have been developed. Their prototypes are being tested.The company has awarded its shareholders six bonus issues between 1966 and 1994. During 1995-96 new TANGO range of fancy bikes covering SLR's CTB's ATB's & MTB's has been developed. Company has newly introduced `Laser' series of bicycles. The paint application plant has been commissioned.

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