Ramkrishna Forgings Share price

BRIEF HISTORY OF THE COMPANYRamkrishna Forgings Limited was incorporated under the Companies Act1956 on llth November 1981 as a Private Limited company andsubsequently converted in to a Limited Company w.e.f.. May 25th 1995.The company is having its registered office at 6 Waterloo StreetCalcutta- 700 069. It occupies two industrial plot measuring about 3.90acres at VI th phase Adityapur Industrial Area Gamharia Jamshedpur.For the proposed expansion the company has already acquired twoadditional plots one at Plot No. M-15 M-16 & NS-26 at VIIth PhaseAdityapur Industrial Area measuring about 3.90 Acres and another plotadjacent to the existing factory of the company at VI th phaseAdityapur Industrial Area. The company also has a factory at LiluahIndustrial Area Howrah.Ramkrishna Forgings Limited commenced its production in 1984 as a SSIunit. It was manufacturing Forging items for Railways. Turnover was inthe range of Rs. 50-60 Lacs per annum. Over a period of time the unitdeveloped various other parts uses by Railway. It included certainsafety items also like hangers for coaches. The unit got itselfregistered with RDSO. Capacity of the unit was about 40 Ton per month.The company undertook its major expansion in the year 1997 whereby itincreased its forging & die making capacity at Jamshedpur. Beside itdeveloped machining facilities & heat treatment facilities includingIso-annealing. This made the unit to undertakes production of AutoForging for original equipment manufacturer (OEM) besides supplies toRailways. The unit added a number of reputed companies in its customerlist.The company also purchased a unit at Liluah Industrial Area Howrah.This unit has a machine shop for the rough machining of components.Acquisition of this unit helped the company to supply finishedcomponents to Railways & Body Builders directly from its Local unit.The company took Term Loan of Rs. 330.00 Lacs from Canara Bank tocomplete that expansion. The company is very regular in payment of TermLoan instalment and present balance in this account is about Rs. 101.54Lacs.In the year 2002-03 the company took a 2nd term loan of Rs. 125.00Lacs from Canara Bank to further increase . the forging capacity ofthe unit. This project was completed in the month of August this year.After this expansion forging capacity of the unit increased up to 5550MT per annum.The company has explored export market for their products and is welltaken in the export market also. The company has started supplies ofForged components to a few reputed customers. In the last financialyear the company achieved export turnover of Rs. 1.70 Crores. ?Very recently the company has received QS 9000 certification fromBVQI. This will enable the company to broad base its export market. Tofurther facilitate the export market the company is installingpneumatic hammer of 6-ton capacity for the forging of heavy range ofitems up to 75Kg.Taking in to account the encouraging response from export market thecompany has undertaken expansion cum diversification project. Theproject envisages setting up of an EOU at VII th phase AdityapurIndustrial Area and consolidation in capacity of existing unit inforging. For this purpose the company has got it registered with EPCand is granted EOU status by the office of DGFT. The company has beenallotted a plot of land measuring about 3.90 Acres in 7th phase ofAdityapur Industrial Area set up mainly for Export Oriented Units.