HILTON METAL FORGING Share price

HISTORY AND CORPORATE STRUCTURE OF THE COMPANYHISTORY OF THE COMPANYThe Promoter of the Company Mr. Yuvraj Malhotra has started the business by setting up of the proprietorship firm on 13th September 1997 .The Firm started its activities by effecting first shipment in the year January 1998 for Rs. 7.45 Lakhs by outsourcing the forged components and continued its operations by setting up small machining division on lease basis at Vasai Industrial Estate till 1999. The Firm was registered as a Small Scale Industry unit in the year 1999 and it started manufacturing Pipe fitting items like Stainless Steel Flanges & Stub Ends in various size ranging from 1/2th to 10". On 1st August 2003 the Partnership Firm under the name "M/s Hilton Forge" took over the business of the proprietorship firm. Further the partnership firm was converted into a Public Limited Company under the name Hilton Metal Forging Limited on 21st July 2005 under Part IX of Company Act 1956.At present the Company has a total installed capacity of 11100 MT per annum and can execute orders for a wide range of forgings weighing from 0.5 kg (1.10 lbs) to 750 kg (1650 lbs). The Company specializes in the manufacture of forgings for the oil petrochemical pharmaceutical and automobile industries and is also planning to manufacture for other Original Equipment Manufacturers (OEMs). The Company has also received quality excellence Certificate from one of the major customer from UK and slowly expanded its activities by including other customers from Europe and other Asian countries.After having a 9 years experience in the field of Export of forged components to various manufacturers & distributors in USA UK European and Middle East countries the Company has decided to go for expansion in forging technology whileputting up Forging Presses Ring Rolling to capture the market of Oil and Gas industries.MAJOR EVENTS IN THE HISTORY OF THE COMPANYYear Major Events1997 Successful in getting the first Export Order in the month of October 1997 and the same was executed in the month of December 1997. Started its export business with a turnover of Rs. 7.45 Lakhs in 19971998 Installed one Cutting machine alongwith three drilling machines for cutting and drilling of flanges and achieved a turnover of Rs. 48.00 Lakhs.1999 Started manufacturing activity at a very small scale with addition of couple of Lathes and have achieved turnover of Rs. 179.00 Lakhs.2000 Created own manufacturing base at Wada by investing Rs. 85 Lakhs and achieved turnover of Rs. 289.00 Lakhs.2001 Installation of CNC Machines to increase the production capacity and timely deliveries. and has an achieved turn over of Rs. 510.00 Lakhs.2002 Received ISO 9001 Certification for manufacture and sale of closed die Forgings flanges and fittings in various stainless steels grades alloy steel and carbon steels. Also fulfilled the requirement of AD 2000 ? Merkblatt W 0 and got right to issue test certificates 3.1 B according to EN 10204 also achieved turnover of Rs. 905.00 Lakhs. 2003 Obtained Canadian Registration and Pressure Equipment Directive (PED) Certificate. Also increased the installed capacity by adding Balancing equipment for post forging operation and achieved turnover of Rs. 1359.53 Lakhs.2004 Invested Rs. 450.00 Lakhs towards major expansion by installing 16 MT Hammer Thereby the installed capacity has increased to 10000 tons per annum also achieved turnover of Rs. 2185.19 Lakhs.2005 The Company was successful to get a marginal Anti dumping duty of 0.89 % on the export of Stainless Steel forged flanges to US market. The Company was also conferred with an Export Excellence Certificate for the year 2003-2004. Commenced the commercial production on 16 ton Hammer from September 2004 .The Company achieved a turnover of Rs. 3421.29 Lakhs.2006 The Engineering Export Promotion Council has awarded the Company?s product as quality excellence. The Company has also received Certificate of Export Excellence Award for achieving highest export performance during 2003-04 amongst the SSI Exporters Steel Pipes Tubes and Fitting.