ARCEE INDUSTRIES Share price

Arcee Industries Limited [AIL] is an existing profit making company engaged in the manufacturing of Rigid PVC Pipes. It was incorporated in the year 1992 as a Private Limited Company in the name and style of Arcee Pipes Private Limited and was subsequently converted into Public Limited Company on 14th January 1993. The name of the company was changed to Arcee Industries Limited w.e.f. 28th November 1994. The company started commercial operations at Hisar in Sept. 1992 for the manufacturing of Rigid PVC Pipes with an installed capacity of 1550 TPA which was subsequently raised to 5976 TPA in October 1993 and further raised to the present capacity of 7250 tpa in November 1994. Though there was a time overrun of about nine months in the implementation of the project there was no cost overrun. Also there is no default in repayment of term loan to HFC. There was no major event in the past except delay in the implementation of part of the project consequent to which profitability projections were affected. The company had come out with a public issue of 2980000 Equity Shares of Rs.10/- each for cash at par aggregating to Rs.298.00 lacs in March 1994. The issue opened for subscription on 2nd March 1994 and closed on 5th March 1994. It was subscribed 1.06 times.MAIN OBJECTS The main objects of the company as fully set out in the Memorandum of Association of the company are:- 1. To manufacture produce process design buy sell import export or otherwise deal in all kinds of tubes pipes pipe fittings tubulur poles components accessories and all kinds of hardware items whether made of steel pvc plastic or any other metal [ferrous or non ferrous] or substance or material to act as and/or carry on the business of galvanisers japanners re-roller annealors enamellers elecroplaters and to manufacture produce process design repair convert buy sell import export or otherwise deal in such products their by-products commodities and raw materials.2. To set up steel furnaces and continuous costing and hot and cold rolling mill plants for producing ferrous or non-ferrous metal alloy steels steel ingots billets and all kinds of iron and steel re-rolled sections such as flats angles rounds squares rails joists channels slabs strips sheets plates deformed bars plane and cold twisted bars and shaftings.