AMS POLYMERS Share price

The Company was incorporated on 22nd March 1985 as aPrivate Limited Company under the name and style of M/s.Sai Moh Autolinks (P) Limited with an object to carry onthe business of manufacturers and dealers of Automobileparts fasteners electricals Components for Motor carMotor cycle Cycles and vehicles etc. The Company wasconverted into a Public Limited Company u/s 31 of theCompany Act 1956 by passing a special Resolution on 19.9.95and obtained fresh certificate of incorporation from theRegistrar of Companies Delhi & Haryana dated 14.11.95.Initially the Company started its commercial production inthe year 1986 with fixed capital investment of Rs.8.11 lacsto manufacture Bicycle freewheel with a production of 1000pcs. daily. After successful running of the plant for oneyear Company gradually increased the capacity of plant to6000 pcs per day even after the turbulent situation inPunjab till 1992. The Company at the time when peoplewere leaving the state braved the adverse situation andgrew. It recorded a turnover of Rs.20.94 lacs in 1987 and494.80 lacs in 1993 resulting in a growth of 2362.94 % in7 years.There was no delay in the setting up of existingproject/cost overruns.In the year 1988 the Company entered the export businessof its own product and thereafter the complete range ofbicycles spares. In the year 1992 the company startedmanufacturing of bicycles chains on job work basis from M/sPoddar Tyres Ltd under the supervision and control of theirtechnical personnel. The quality of chains was soon verywell accepted by their clients and the company undertookexports to South East Asia East African Countries andEurope.The Year 1994-95 was not good for Bi-cycle industries dueto withdrawal of I P R S (i.e.International PriceReimbursement Scheme) by the Government. As a resultExport of company products was not viable and as such theCompany did not undertake any export. However indigenousturnover has increased over the last year. Presently thecompany is not getting any cycle chain manufactured on jobwork basis w.e.f. 1st June 1995 and has startedmanufacturing the same from its own factory. The companyinstalled its own plant worth Rs. 47.50 lacs leased fromDCM Financial Services Ltd. in September 1994 and thecommercial production from July 1995 onwards formanufacturing of cycle chains.PRESENT BUSINESS OF THE COMPANYThe Company is presently engaged in the business ofmanufacture of bicycle freewheel. The company was gettingthe bicycle chain manufactured till 31st May 1995 and from1st June 1995 has started manufacturing the same from itsown factory. The company now proposes to enhance itscapacities for bicycle freewheels and Chains and alsodiversify into manufacturing of chains for Mopeds andMotorcycles.