Aro Granite Industries Share price

Aro Granite Industries Limited is an existing dividendpaying and profit- making 100% Export Oriented Unit. TheCompany was incorporated as a private limited company on3rd May 1988 and was converted into a Public LimitedCompany with effect from 4th April 1989.The Company is engaged in the manufacture of Granite Tiles(Polished) with an installed capacity of 72000 Sq. mts. atSIPCOT Industrial Area Hosur Dist. Dharmapuri Tamilnadu.The Company commenced commercial production in January1991 and has been exporting the whole of its production toforeign markets including US Japan Middle East GermanyCanada and Singapore.The existing plant achieved around 50% capacity utilisation(annualised) in the first year of operation. The unitproduced 13236 sq mt of tiles in this period and achieved aturnover of Rs 60 lacs in the first three months ofoperations. For the year ended 31 .03.94the companyproduced 26560 sq mts of tiles. FOB value of exports was Rs446.42 lacs. The company has committed customers in variousquality- conscious markets. The Company has also enteredinto an MOU with M/s Granite Supply International Inc. USAfor supply of around 30000 sq.mts. of tiles p.a.The Company has been sanctioned a grant of USD 50000 byBank of Baroda for export development and promotion of itsproducts abroad under the Export Development Scheme of theWorld Bank. The assistance was granted by Bank of Barodavide its letter dated 6/12/93.Under the said scheme World Bank provides assistance forexport promotion to companies from third world countries.PHASE - IPhase 1 of the Project whose cost and means of financingare detailed above was implemented as per schedule. Phase 1commenced trial runs in November1990 and commercialproduction in January 1991. The Company has been able tosuccessfully market its production and has been receiving anumber of enquiries from various customers in USA JapanMiddle East Germany Canada and Singapore. In order tomeet this demand for its tiles of various finishes theCompany now proposes to expand its capacity.PAST PERFORMANCEThe Company commenced its commercial production in January1991. MAIN OBJECTS OF THE COMPANY1. To carry on the business of manufacturers importersexporters buyers sellers cutters processors stockistssuppliers distributors and dealers of all types of rocksand stones such as granites marbles kota stone Dholpurstone sand stone and Baroda stone whether raw semifinished finished and whether monumental slabs or tilesin their various types shapes and sizes for any usewhether decorative commercial industrial flooringroofing paneling and counters.2. To carry on the business of repairing importingexporting buying selling leasing hiring distributingsupplying and dealing in all types of machines equipmentscutters gang saws abrasives polishes diamond and hardcutting tools and other required consumables used in th9cutting polishing shaping processing and refining ofvarious types of rocks and stones.3. To work as quarry masters and undertake the miningoperations of various Rocks and minerals especially granitestone in all forms and dispose off by-products thereof.SUBSIDIARIES OF THE COMPANYThe company has no subsidiaries.T