Incorporated in 1968 as a private limited small-scale unit, Patheja Forgings and Auto Manufactures (PFL) manufactures steel forgings. It registered itself as a medium-size unit in 1975 and was later converted into a public limited company in 1987. Initially, the company catered primarily to the needs of the diesel engine market, it then diversified into automobile components. Its units are located in Pune and Aurangabad. The company is the largest supplier of connecting rods to the two-wheeler industry. Most of its production is sold to Bajaj Auto and Premier Auto. Other customers include Telco, Maruti and Mahindra & Mahindra. The company came out with a Rs 35.34-cr issue in Oct.'92 to part-finance expansion at its second unit at Waluj, Aurangabad, and to meet the capital expenditure of the Pune unit. In 1995-96, the company received the prestigious Export House status from the Directorate General of Foreign Trade, Government of India, New Delhi. It has undertaken a modernisation-cum-expansion programme involving the modernisation of its plants at Waluj, Aurangabad and Bhosari, Pune and setting up crankshaft machining facilities. During 1996-97, the company increased its capacity of Steel Forgings by 28000 MT there by taking the installed capacity to 75000 MTPA. Due to general slow down in the automobile industry, the company made heavy loss during the year as a result the net worth of the company has been completly eroded, the company has become a sick company within the meaning of Sick Industrial Companies (Special Provision) Act, 1985.