GARG FURNACE Share price

Garg Furnace Limited (GFL) was originally incorporated on27.12.1973 as a private Limited Company under the name GargFurnace Private Limited and was converted into PublicLimited Company on 25.02.1976 by deleting the word private.GFL was promoted by late Sh. Dharam Pal Gargand Sh. JagdishChand Garg. The company started its manufacturing activitiesin the year 1974 with a 1.0 Tonne Capacity of Arc Furnaceto manufacture Steel Casting for the Railways ThermalPower Stations and the Engineering Industry. In the year1981. the Arc Furnace was scrapped as its technology wasnot so successful and it required heavy maintenance cost tocontinue operations. In the same year the Company installedits First 0.5 Metric Tonne capacity induction meltingFurnace. In the year 1988 the Company added a Rolling Millof 12" capacity for the manufacture of M.S. Hot RolledRounds. In February 1989 the Company increased its meltingcapacity by installing another Induction melting Furnace of3 Tonne capacity. The company further enhanced itscapacities by installing Induction Furnaces of 3.0 TonneCapacity in November 1989; March 1991 and June 1994 and a 16"capacity Rolling Mill in March 1993. The total presentMelting capacity of the company is 12.000 M.T per heat .The company is engaged in the manufacture of IngotsBillets with an installed capacity of 62900 M.T per annumbased on three shifts per day and 300 working days perannum basis. The product is mainly used by rolling millowners for re-rolling purposes to manufacture flatsRounds L.T. Iron Squares Steel Strips Bars Skelp etc.The industry pertains to key sector on which wholedevelopment of the country is based. Hence it is likely togrow with the growth in the civilization/industrialisationresulting in the growth in construction activities. Thetotal capacities of various products before and after theexpansion is as under:-