LLOYDS METALS N ENERGY L Share price

Llyods Metals & Engineers Limited (LMEL) was incorporated on 5thApril 1977 as a private ltd. company in the name of NagarjunaMetals and Engineers Private Ltd. The company was convertedinto a public ltd. company on 9th September 1986. The name ofthe company was changed to the present one on 5th January 1990.In 1987 LMEL obtained the licence to manufacture 12000 MT/yearof cold rolled strips. The project was implemented in 1988.The cost of this project was Rs.450 lakhs which was financed byrights issue of Rs.50 lakhs and balance through term loans fromState Bank of India deferred payment guarantee facility fromIDBI and internal generations.In the year 1991-92 the company increased the plant capacityfrom 12000 MT/year to 24000 MT/year by commissioning additional4-Hi cold rolling mill. LMEL incurred a capital expenditure ofRs.400 lakhs to implement the expansion programme. The companywas granted term loan of Rs.350 lakhs (Rs.200 lakhs from IDBIand Rs.150 lakhs from ICICI).