ANKIT MET & POW Share price

Ankit Metal & Power Limited (AMPL) promoted by Mr. Suresh Kumar Patni was incorporated on 7th August 2002 as Ankit Steel Works Private Limited.Ankit Metal & Power Limited was incorporated as a private limited company in the year of 2002 with the object of carrying on the business of all kind of Iron & steel Products and subsequently amended to install the power plant with the main aim to compete & play safe in the market as well as increase earning as the power constitute the major item of cost. Subsequently the name of the company was changed to Ankit Metal & Power Private limited to reflect the new line of business of the company specifically.Pursuant to change in the corporate status of the Company from Private to Public the name of the company was further changed to Ankit Metal & Power Limited with effect from 31st August 2004.To meet the requirement of the fund the company approached to the bank & got a sanction of sponge iron project from State bank of India on 07/06/2004 for an amount of Rs.1500.00 lacs. Subsequently Loan for Melting Shop CCM Power Plant & Rolling mills was sanctioned by State Bank of India Andhra Bank & Syndicate Bank & SBI Leads the consortium. The company has gone for expansion of 4 MW AFBC based power plant with the aim to use the waste generated in sponge iron plant & have a better power consistency to reduce the cost of the products manufactured which is again funded by State Bank of India Andhra Bank & Syndicate Bank.Commercial production of Sponge iron plant started on 16th October 2005. 1st & 2nd Furnaces of Ingots Unit stared on 2nd January 2006 & 3rd Furnace stared on 12th august 2006. The production of Continuous Casting Machine (CCM) for Billets started on 1st February 2006.Presently AMPL is setting up an Integrated Steel Plant comprising of:(i) 105000 TPA Sponge Iron Plant(ii) 65140 TPA Billet Casting Plant(iii) 100000 TPA Re-Rolling Mill(iv) 8.5 MW Waste Heat Recovery Based (WHRB) captive power plant (utilising the waste gases from the sponge iron plant) and(v) 4 MW Atmospheric Fluidised Bed Combustion (AFBC) based captive power plant.The First Phase comprising of Sponge Iron Plant has commenced commercial operations in October 2005.A part of the 2nd Phase comprising of Steel Melting Shop for manufacturing of Ingots / Billets has started production in January 2006.The remaining of 2nd Phase comprising of Re-rolling mill and the WHRB Captive Power Plant are estimated to be commissioned in July 2007 whereas the AFBC Captive Power Plant is estimated to start its operation from July 2007. After commencement of the entire plant the Company will be able to produce 105000 Mt of Sponge iron 65140 Mt of Ingot / Billets and 100000 Mt of Rolled steel for selling in the market or self consumption. Information about the CompanyName of the Company Ankit Metal & Power LimitedDate of Incorporation 7th August 2002Registration Number 21-94979CIN Number U27101WB2002PTC094979Registered Office 35 Chittaranjan Avenue Kolkata ? 700 012Corporate Office 33 Chittaranjan Avenue 1st Floor Kolkata- 700 012Corporate Status Public Limited CompanyAuthorised Capital Comprising of Rs.350000000/-35000000 Equity Shares of Rs.10 eachPaid up Capital Comprising of Rs.209755000/-20975500 Equity Shares of Rs 10/- eachMajor events of the CompanyYear EventsAugust 2002 Company was incorporated as Ankit Steel Works Private LimitedJuly 2004 The Name of the Company was changed to Ankit Metal & Power Pvt. Ltd.August 2004 The Company was converted to a Public Limited CompanyOctober 2005 Commercial Production of Sponge Iron Unit commencedJanuary 2006 Commercial Production of Ingots from Induction Furnaces startedFebruary 2006 Commercial Production of Billets from Continuous Casting Plant startedAugust 2006 Commercial Production of Ingots from 3rd Induction Furnace started