Carnation Industries Share price

CARNATION INDUSTRIES LIMITED (HEREINAFTER REFERRED TO ASTHE COMPANY) WAS INCORPORATED ON 23 FEBRUARY 1983 UNDER THECOMPANIES ACT 1956 AS CARNATION ENTERPRISE PRIVATE LIMITEDAND SUBSEQUENTLY THE COMPANY WAS CONVERTED TO PUBLICLIMITED ON 9th NOVEMBER 1994. THE COMPANY SUBSEQUENTLYAPPLIED FOR A NAME CHANGE TO CARNATION INDUSTRIES LIMITEDAND A FRESH CERTIFICATE OF INCORPORATION WAS RECEIVED ON5th JANUARY 1995.The Company was promoted by Mr. RAVINDRA PRAKASH SEHGALMr. MADAN MOHAN KUNDU both technocrats MR. SANATAN KUNDUAND MR. GAUTAM SENGUPTA.They are the original subscribers to the Memorandum &Articles of Association. Subsequently Mr Gautam Senguptaresigned.The Company was formed for the purpose of manufacture ofgrey iron castings and to primarily cater to the exportmarkets. The Company began as a merchant exporter andsubsequently in 1987 turned into manufacturer and exporterbeginning with just one foundry and later on establishedanother foundry after seeing the growing demand for itsproducts.MAIN OBJECTS OF THE COMPANYThe main objects of the company as stated in the Memorandumof Association are as under:1. To acquire by purchase and take over as a going concernthe business of the firm now carried on at Calcutta andelsewhere under the name & style of Carnation Enterpriseand all or any of the assets and liabilities of theproprietorship firm in connection therewith.2. To carry on the business as manufacturers growerstraders buyers sellers importers exportersdistributors stockists agents brokers consultants anddealers or otherwise deal in all kinds and forms of ferrousand non ferrous metals ferro alloys iron & steelincluding mild high carbon spring high speed tool alloystainless and special steels iron metals and alloysingots billets bars joists rods squares structuralstubes poles pipes sheets castings wires rails rollingmaterial rollers semi manufacturers and other materialsmade wholly or partly of iron steel alloys and metal ironmasters iron workers steel makers electric and brassfounders and metal makers.3. To carry on the business of manufacturers fabricatorsprocessors producers growers makers importersexporters buyers sellers suppliers stockists agentsmerchants distributors and concessionaires of and dealersin synthetic rubber elastomers synthetic resins carbonblack rubber latex plastics latexes and formulationsthereof including reclaimed rubber natural rubber hidesskin leather synthetic leather and all products made ofleather or synthetic leather including garments shoespurses bags waterproof sheets and bags raincoats andresinscompounds and other products petrochemicals calciumcarbide styrene butadine ethylene ethyl alcoholhydrocarbon petroleum fractions inorganic chemicals finechemicals including photographic chemicals paintsvarnishes and enamels coke oven by products coal tardistillation products like naphthalene anthracene benzenephenol and the like pathalic anhydride asbestos paper andspecial jointing materials graphite and silicon carbidecrucibles cryolite aluminium fluoride bromidepolyvinyldioride electrodes including graphite electrodesarc welding rods calcined petroleum coke salt & alliedproducts caustic soda chlorine thermotating andthermoplastic plastic and compounding amines and agentsand additives therefor caprolactum and allied chemicalsplasticizers enzymes acids amino acids sulphates andother synthetic chemical and chemical substances-basicintermediate finished or otherwise.PRESENT BUSINESS OF THE COMPANYThe Company has been engaged in the Exports of Cast IronGoods for over a decade. During the last 7 years theCompany is manufacturing and exporting its entireproduction to countries in the MIDDLE EAST USA EUROPE andCANADA.The Company at present has two foundries:1. Liluah Howrah which was set up in 1987; and2. Another at Belgachia Howrah which was set up in 1991.The Company''s products are of Industrial & Sanitary use forthe Construction Companies Sewerage & DrainageDepartments Pressure Pipe Industry Engineering and otherIndustries.g