SHAKTI PUMPS (I) Share price

Shakti Pumps (India) Ltd. was originally established in January 1982 as a Partnership Firm in the name of M/s. Shakti Electrical Industries by Shri Manoharlal Patidar Shri Chandrasekhar Patidar and 5 members of Chaudhary Family headed by Ramchandra Chaudhary. In 1986 Chaudhary Family retired from the partnership and Shri Dinesh Patidar joined as partner. In April 1990Shri Chandrasekhar Patidar retired and Shri Sunil Patidar joined as partner. The partnership firm was reconstituted three times in 1986 1990 and 1994 before being converted into Public Limited Company under the provision of Section 565 566 and 567 of Part IX of the Companies Act 1956. The Registrar of Companies Madhya Pradesh at Gwalior issued the Certificate of Incorporation dated 21st April 1995. The Certificate of Commencement of Production was received on 14.06.1995. The unit was initially set up as a Small Scale Unit in 1982 to manufacture submersible pumps with installed capacity of 1500 pumps p.a. per shift. The unit is under the exclusive ownership and control of Patidar Family since 1986. The unit received ISI mark for its product in 1991. M. P. Govt. (P.H.E.D. and Irrigation Dept) is the major consumer of the unit. The unit has been supplying to M. P. Govt. under rate contract arrangement through Madhya Pradesh Laghu Udyog Nigam Ltd. (MPLUN). During the last 3 years the unit has developed good network of private dealers in M. P. and few districts of Rajasthan bordering M.P. The turnover of the unit went up from Rs. 124.99 lacs in 92-93 to Rs.449.27 lacs during 94-95. During 93-94 the unit has set up facility for manufacture of 800 Control Panels p.a. per shift. The sales to private dealers which was only Rs. 30.30 lacs during 93-94 (constituting only 13% of the total sales of Rs. 238.71 lacs) went upto Rs. 227.86 lacs during 1994-95 constituting just over 50% of the total sales of Rs.449.27 lacs. Considering the long association with M. P. Govt and the increasing demand from private market the promoters have contemplated the proposed expansion project with increased capacity of 10000 pumps and 8000 control panels. The project also envisages to set up facility for manufacture of 10000 monoblock pumps p.a.