METAL COATINGS (INDIA) Share price

Metal Coatings (India) Ltd. (MCIL) was incorporated on 12-12-94 under Companies Act 1956 to take over the assets and liabilities of Metal Coatings (India) an existing profit making partnership firm set up in 1988. MCIL took over operations of the firm on 5-3-95 by taking over all the assets & liabilities of the firm in consideration of fully paid 767408 equity shares of Rs. 10 each amounting to Rs. 7674080 which was equivalent to the balances of the partners in capital account including profits apportioned as on 4th March 1995 and all the partners in the erstwhile firm continued as directors in the company. The assets and liabilities of the erstwhile firm takenover by MCIL are as follows as per the audited Balance sheet as on 4th March 1995:-MCIL is engaged in the business of manufacture of Galvanised Steel Cable Tapes (GST) for Polyethylene Insulated Jelly Filled (PIJF) Cable industry. MCIL has an installed capacity of 3200 MT per annum of GST tapes at its existing site at Meola Maharajpur Faridabad. The company has already increased its GST capacity to 7400 MT p.a. by adding galvanising line at existing site as part implementation of the scheme. It recorded a turnover of Rs. 958.93 lacs for the financial year 1994-95 against Rs. 662.15 lacs for financial year 1993-94 on an average paid up Capital of Rs. 59.20 lacs and Rs. 31.80 lacs respectively.The company has been promoted by Mr. R.C. Khandelwal Mr. R.S. Khandelwal and Smt. V.P. Khandelwal.The company now envisages to enhance its capacity to 13200 MT through an expansion-cum-backward integration scheme spread over the existing and new site at Plot No. 113 HSIDC Industrial Estate Sector 59 Faridabad. In order to meet its requirement of CRCA strips MCIL is installing a CR Mill of 13000 TPA CR slitting unit of 12300 TPA and other balancing equipments. After the implementation of the project the entire requirement of CRCA strips would be met from in-house. There are no disputes labour problems lockouts other litigations (civil or criminal) against the company.