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IP Rings Ltd.

BSE: 523638 Sector: Auto
NSE: IPRINGLTD ISIN Code: INE558A01019
BSE 00:00 | 16 Sep 138.45 -6.55
(-4.52%)
OPEN

140.60

HIGH

148.00

LOW

138.00

NSE 05:30 | 01 Jan IP Rings Ltd
OPEN 140.60
PREVIOUS CLOSE 145.00
VOLUME 3626
52-Week high 187.00
52-Week low 37.00
P/E 12.39
Mkt Cap.(Rs cr) 176
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 140.60
CLOSE 145.00
VOLUME 3626
52-Week high 187.00
52-Week low 37.00
P/E 12.39
Mkt Cap.(Rs cr) 176
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

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 352100 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 365100 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.

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