National Fittings Share price

M/s. Interfit Techno Products Limited (ITPL) was incorporated as a public Limited Company in the state of Tamilnadu on April 21 1993 with the Registrar of Companies Tamilnadu at Madras. The company obtained the certificate of commencement of business on May 17 1993. The Registered Office of the company is located at Flat No. 10 `C'' wing 6th Floor Parsn Manere 602 Anna Salai Madras-600 006.The company is already in the line of manufacturing speciality stainless steel fittings at SF No. 112 Mathapur Road Kaniyur Village Coimbatore Dist. Commercial production in phase I which manufactures these items started in January 1995. There was an over-run of two months in implementing the project under phase I due to delayed sanction of power by TNEB.The proposed expansion project (phase II) is for diversifying the product line. The company will manufacture Stainless Steel Ball valves a value added product related to the existing product. Ball valves are used extensively in process industries air conditioning drug formulation industries breweries and potable water service.PRESENT BUSINESSThe company is currently engaged in the manufacture of stainless steel pipe fittings. This project has been appraised by Indian Bank. The cost of the project was Rs. 562 lakhs. It was financed by promoters'' equity of Rs. 230 lakhs a term loan of Rs. 315 lakhs from Indian Bank and a subsidy of Rs. 17 lakhs from the State Government.Commercial production in this phase(I) started in January 1995.