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Atlas Cycles (Haryana) Ltd.

BSE: 505029 Sector: Others
NSE: ATLASCYCLE ISIN Code: INE446A01025
BSE 00:00 | 01 Mar 31.60 0
(0.00%)
OPEN

31.60

HIGH

31.60

LOW

31.60

NSE 00:00 | 01 Mar 31.60 0
(0.00%)
OPEN

31.60

HIGH

31.60

LOW

31.60

OPEN 31.60
PREVIOUS CLOSE 31.60
VOLUME 3201
52-Week high 60.45
52-Week low 27.75
P/E
Mkt Cap.(Rs cr) 21
Buy Price 33.30
Buy Qty 20.00
Sell Price 31.60
Sell Qty 1685.00
OPEN 31.60
CLOSE 31.60
VOLUME 3201
52-Week high 60.45
52-Week low 27.75
P/E
Mkt Cap.(Rs cr) 21
Buy Price 33.30
Buy Qty 20.00
Sell Price 31.60
Sell Qty 1685.00

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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