Confidence Petroleum India Ltd

Confidence Petroleum India Ltd

Confidence Petroleum India Limited was established on July 21 1994. The Company is one of leading manufacturers of LPG Cylinders in India along with its repairing activity prominent supplier of Auto LPG in India with its network of bottling plants and ALDS Stations across India into Parallel LPG Market by the name of pack cylinder division with GO GAS as its brand into selling LPG to both domestic and commercial users at competitive rates into bottling blending /marketing of LPG and also in its Logistic business.The company came out with a public issue in Feb.'95 to set up two LPG bottling plants near Pali and Udaipur in Rajasthan. The installed capacity is 7200 tpa each with a total capacity of 14400 tpa.Commercial production at Pali commenced in Mar.'95. It launched its product in the Devarsa Gas brand name in Rajasthan. In Mar.'96 the company commenced commercial production at its second bottling plant at Udaipur. In 1995-96 the it launched a 25-kg gas capacity cylinder for the first time in India for the commercial and industrial segment.To ensure better utilisation of its bottling plants the Company is doing contract filling of cylinders of other companies on jobwork basis alongwith bottling of own branded cylinders.During the current F.Y. 2005-06 company started LP6 bottling assistance for M/s I ndian Oil Corporation Ltd. at Udaipur by giving Plant on lease to M/s Gaspoint Petroleum (I) Ltd. It also started marketing in the commercial / industrial segment.Companies such as Envy Cylinders Pvt. Ltd. Hemkunt Petroleum Ltd Gomti Gaspoint Bottling Pvt. Ltd. Taraa LPG Bottling Pvt. Ltd. Neora Gaspoint Bottling Pvt. Ltd. Agwan Coach Private Limited' Laxmi Nirmal Petrochemicals Limited Keppy Infrastructure Developers Pvt. Ltd and Confidence Go Gas Ltd. became subsidiaries during the year 2008. The Board of Directors of the Company at its meeting held on June 20 2007 finally approved the scheme of arrangement cum amalgamation of the Company with Maharashtra Cylinders Pvt Ltd Khara Gas Equipments Pvt Ltd Hans Gas Appliances Pvt Ltd along with the exchange ratio of the shares between the transferor and transferee Companies. The approved exchange ratio is as under: 1. 20 Equity shares of Re 1 each of the Company for every 1 Equity Share of Rs 100/- each of Khara Gas Equipments Pvt Ltd.The Company got into ever growing market of Indonesia with its newly formed subsidiary M/s PT Surya Go Gas Indonesia a joint Venture company with 70% stake of company of in equity of JV which started LPG Cylinder Manufacturing plant at Indonesia and further the JV had firmed up its plan for opening 6 LPG Bottling plants and with this the company committed a CAPEX of 50 Crs. in F.Y. 2009-10 for various projects in Indonesian.In FY 2010-11 Company implemented their expansion plan in India as well as in overseas. The Company established new Bottling plant in overseas Market in Indonesia as PT MULTI ARTHA MANDIRI a subsidiary of P. T. SURYA GO GAS INDONESIA which is a subsidiary of Confidence. The Company through its 100% subsidiary `Confidence Go Gas Ltd' entered into long term agreement to supply LPG to major multinational companies for automobiles in India. CPIL setup 99 Auto LPG Dispensing Station (ALDS) across the Country. The Company acquired more than 50% shares of M/s- CONFIDENCE FUTURISTICENERGETECH LIMITED ( Formally Known Globe Industrial Resources Limited) through open offer and resultant M/s Confidence Futurestic Energetech Limited was made the Subsidary of the company during 2017-18. During the year through its subsidary CONFIDENCE FUTURISTIC ENERGETECH LIMITEDthe Company launched the Blast proof Composite cylinders.