Eraaya Lifespaces Share price

The Company was originally incorporated as a PrivateLimited Company with the Registrar of Companies Delhi on14th February 1967 in Delhi by Lala Charatram of DCM group.The present promoters took over the company in 1980. Laterthe Company was converted into Public Limited vide specialresolution passed on 13/10/87 and obtained freshcertificate of incorporation on 17/12/87.In the year 1968 the Company started a small activity ofPVC Moulding and subsequently in the next 2-3 years itstarted Plastic Moulding activities both injection & blowmoulding.In 1975 the Company for the first time in India introducedChildrens tricycles made with a combination of plastic &steel. At that point of time tricycles were made withsteel which were not so popular. The Company had to put ina lot of efforts to popularise the plastic tricycles.Slowly number of other models were introduced. Backed withadequate publicity campaign and quality control TOBU hasbecome a household name in India for Children tricycles &go carts and is India''s NO. ONE manufacturer of theseproducts.In addition to children tricycles the Company has beensupplying various sophisticated plastic moulded items todifferent industry ordinance factories etc. The Companyhas two plants at Delhi employing over 150 employees. Thereare a number of plastic blow moulding and injectionmoulding machines of various sizes and models along with awell equipped tool room and a metal shop. As adiversification and expansion plan the Company has set upa conventional bicycle manufacturing plant at BhiwadiRajasthan with a capacity of 540000 bicycles p.a. Theplant has become already operational. The Company haslaunched its bicycles in Northern part of the country andreceived a overwhelming response. In addition to thedomestic market the products have a very good potential ofexport. The Company had bagged a small export order of 660bicycles and executed the same during the last financialyear. At present the company is negotiating with variousMerchant Exporters who have shown keen interest to exportbicycles on a large scale. The Company is expecting to getan export order of Rs.250-300 lacs through export houses.Considering the Brand Image of the products the company ishopeful of achieving its sales targets without anydifficulty.Workers of Delhi unit went on strike for 25 days during theyear 1992 but the Work at this unit was not disrupted.There has been no closure either at Bhiwadi or Delhi unitduring last 15 years. The Company had planned to commenceproduction at the Bhiwadi Unit in January 1991. But theproduction could commence only from 29th March 1993. Thedelay was due to the disturbed situation prevailing allover the Country during 1990 due to implementation ofMandal Commission Report. The Company had to change itsCivil Contractor due to irregularities done by him.Further power connection was also delayed.