You are here » Home » Companies » Company Overview » IP Rings Ltd

IP Rings Ltd.

BSE: 523638 Sector: Auto
NSE: IPRINGLTD ISIN Code: INE558A01019
BSE 00:00 | 19 Feb 94.25 -0.80
(-0.84%)
OPEN

95.05

HIGH

96.95

LOW

94.05

NSE 05:30 | 01 Jan IP Rings Ltd
OPEN 95.05
PREVIOUS CLOSE 95.05
VOLUME 1099
52-Week high 197.70
52-Week low 94.05
P/E 15.53
Mkt Cap.(Rs cr) 120
Buy Price 90.00
Buy Qty 50.00
Sell Price 103.80
Sell Qty 2.00
OPEN 95.05
CLOSE 95.05
VOLUME 1099
52-Week high 197.70
52-Week low 94.05
P/E 15.53
Mkt Cap.(Rs cr) 120
Buy Price 90.00
Buy Qty 50.00
Sell Price 103.80
Sell Qty 2.00

IP Rings Ltd. (IPRINGLTD) - Company History

I P Rings Ltd., a part of Chennai based Amalgamation Group is into manufacture of piston rings. Nippon Piston Rings, Japan. is the collaborator of the company. IP Rings was incorporated in Jan.'91 and went public in May '92. The proceeds from this public issue is used to part-finance its project to manufacture piston rings in collaboration with Nippon Piston Rings, Japan. The company has an installed capacity to produce 75 lakh piston rings per annum and markets it under the brand name IPL-Powerpack. It products are used in mopeds, motorcycles, scooters, three-wheelers, cars, commercial vehicles, tractors, compressors and industrial engines. In 1994-95, the company commissioned its gas nitriding facility and capacity increased from 20 lac to 30 lac rings pa. It also entered into a new collaboration with Nippon Piston Rings, Japan, to manufacture Nifflex-S three-piece oil rings. Facilities for these rings, S G iron rings and cast iron rings was set up, which involved a substantial capital outlay. During 1995-96, the company issued 3,52,100 equity shares of Rs 10 each on preferential basis priced at Rs 157 per share to Nippon Piston RingCo. Ltd., Japan. The company has also issued 3,65,100 convertible warrants on preferential basis to the promoter companies on the basis of 1 equity share of Rs 10 each for every warrant to be converted atRs 157 per share. Companys new line for manufacturing two-wheelers rings will be going into production shortly and will start to contribute to the companys sales performance. The company was awarded with prestigious QS 9000 accrediation by TUV India, a member of RWTUV Group, Germany during 1999-2000 and has secured its frontline position in the O.E by its concentrated effort to strengthen and upgrade its quality manegement.