INTEGRA ENGINEERING INDIA Share price

The Company was incorporated as Padmatex EngineeringPrivate Limited in the State of Maharashtra on 3rd June1981. Pursuant to provisions of Section 23 of theCompanies Act 1956 and the Special Resolution passed bythe Company at its Extra-Ordinary General Meeting held on29th March 1982 the Company was converted into publiclimited company and fresh certificate of change of name wasreceived on 3rd June 1982. The name of the Company wassubsequently changed to Schlafhorst Engineering (India)Limited and a fresh certificate of incorporation consequenton change of name was obtained from the Registrar ofCompanies Maharashtra at Mumbai on 10th October 1994.The Registered Office of the Company was shifted toVadodara as confirmed by the Company Law Board WesternRegion Bench Mumbai (CLB) by its order dated 23rdNovember 1995. The Registrars of Companies of Maharashtraand Gujarat have registered the Order of the CLB on 12thJanuary 1996 and 1st February 1996 respectively.The Company has obtained Industrial Licence No. CIL : 212(82) dated 21st June 1982 from the Central Government forthe manufacture of 200 nos. Automatic Cone WindingMachines (Autoconers). The licensed capacity of Autoconerswas increased to 300 nos. by Licence No.2.33/87 -IM(I)dated 14th February 1989. The Company also obtainedsanction vide letter No. TXM/1399/VOL.I.96 dated 7.1.1985for manufacture of 170 nos. Draw Frames and Speed Frameswhich was later amended to 250 nos. vide letter no.6(46)BB/87/TXM/251 dated 30th July 1990. Copies of theselicences are open to public inspection at the RegisteredOffice of the Company.The Company has received approval for foreign collaborationwith RVG Germany vide letter no. FC.II.216(90) dated 1stSeptember 1991 which was later amended vide letter of evenno. dated 24th March 1992 for payment of royalty and videletter no. FC.II:491(93)/541(93) dated 21st December 1993for Equity participation upto 51% from the Secretariat forIndustrial Approvals Department of IndustrialDevelopment Ministry of Industry Government of India.SCHLAFHORST ENGINEERING (INDIA) LIMITED (SEIL) waspromoted by Mafatlal Industries Limited as PadmatexEngineering Private Limited in technical and financialcollaboration with RVG Germany - a holding company of W.Schlafhorst AG & Co. Germany and a part of the Saurer AGGroup Switzerland for the manufacture of highlysophisticated textile machinery.The Company set up its plant at Halol Panchmahal districtGujarat for the manufacture of textile machineries viz.Automatic Cone Winding Machine Warping Installations in1983. The Company commenced commercial production in thelast quarter of 1983. In 1984 the Company acquired aworking plant situated in Vadodara from MafatlalEngineering Industries Ltd. to enable it to increase itsmanufacturing capacity to meet the growing demand for thetextile machinery. A new product - High Speed Draw Framewas also introduced in its product range in 1985.During 1990 the Company entered into a technicalcollaboration with Reifenhauser GmbH Germany for themanufacture of sophisticated Plastic Processing machineryviz. Extruders and Extrusion Systems with the approval No.FC.II.52(90)/493(89) Amend dated 25th October 1990 ofSecretariat for Industrial Approvals Department ofIndustrial Development Ministry of Industry Government ofIndia. The Company has issued 584000 Equity shares ofRs.10 each at par to Reifenhauser as part of thecollaboration agreement. However the collaborationagreement was terminated by mutual consent w.e.f 1stJanuary 1995 as the Plastic processing machinery businesswas not compatible with the core business strategy andlong-term goals of the Company under the new management ofRVG. However Reifenhauser still continues to hold theEquity Shares issued to it.In 1994 the management control of the Company was passedon to RVG Germany the Company''s collaborator when theirstake in the Equity Share Capital of the Company wasincreased to 51% of the total paid-up capital of theCompany through issue of fresh capital and consequently thename of the Company was changed from Padmatex EngineeringLtd. to Schlafhorst Engineering (India) Limited with effectfrom 10th October 1994.PRESENT BUSINESS OF THE COMPANYThe Company is presently manufacturing in technicalcollaboration with RVG Germany new generation AutomaticCone Winding Machine with high degree of automation capableof providing better package size and quality increasedproduction and reduced winding cost; Draw Frames Model 720Mand Speed Frames as per the technical specifications ofZinser Textilmashinen GmbH Germany at its plants locatedat Halol and Vadodara. The Company has received ISO 9002certificate for its factories at Halol and Vadodara forestablishing and applying a quality system for textilemachinery from TUV- Zertifizierungs gemeinschaft e.V. dated3.2.1995.