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Atlas Cycles (Haryana) Ltd.

BSE: 505029 Sector: Others
NSE: ATLASCYCLE ISIN Code: INE446A01025
BSE 00:00 | 16 Oct 51.95 -2.70
(-4.94%)
OPEN

51.95

HIGH

51.95

LOW

51.95

NSE 00:00 | 16 Oct 52.80 -2.75
(-4.95%)
OPEN

52.80

HIGH

52.80

LOW

52.80

OPEN 51.95
PREVIOUS CLOSE 54.65
VOLUME 2048
52-Week high 94.80
52-Week low 32.95
P/E
Mkt Cap.(Rs cr) 34
Buy Price 56.00
Buy Qty 500.00
Sell Price 51.95
Sell Qty 1108.00
OPEN 51.95
CLOSE 54.65
VOLUME 2048
52-Week high 94.80
52-Week low 32.95
P/E
Mkt Cap.(Rs cr) 34
Buy Price 56.00
Buy Qty 500.00
Sell Price 51.95
Sell Qty 1108.00

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 25,000 tpa to 50,000 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 10,000 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.