Sterling Powergensys Ltd

Sterling Powergensys Ltd

Sterling Strips Ltd was incorporated on October 22 1984 as a Private Limited Company under the provisions of the Companies Act 1956 in India. The primary objective of setting up this engineering company was for manufacturing of oil/gas fired industrial boilers. The key promoters of the company were S. Venkata Subramanian and Premchand Shah.The Company manufactured more than 400 industrial boilers and Waste Heat Recovery Boilers in technical collaboration with Siller & Jamart Germany covering a wide range of steam generation capacity and installed the same encompassing all the leading business houses in India. The Company also had occasion to export it's boilers/boiler components to Saudi Arabia Dubai Thailand and Nigeria. Thus the quality of the boilers manufactured by the company found wide acceptability.To garner funds to expand it's boiler manufacturing capacity the company went in for a public issue of it's shares in 1994 prior to which the company had obtained the status of a Public Limited Company on October 19 1994 under provisions of the Companies Act 1956 in India. The company was listed on the Bombay Stock Exchange with the shares being widely held by the public.The philosophy to obtain the status of a Public Limited Company was based on running the company by professional management who would function on a code of ethics. This philosophy is ingrained and imbued in the entire workforce of the company. For healthy and steady growth the management of the company was of the opinion that professionalism was essential.With the onset of the boom in the capital goods industry and new industrial projects leading to a situation where major manufacturing companies were required to outsource their requirements the management of the company took a conscious decision to focus on two key areas viz Execution of projects on EPC (Engineering Procurement & Construction) basis and In house API grade Spiral Pipe Manufacturing Activities.