Sterling Tools Share price

Sterling Tools Limited (hereinafter referred to as "theCompany") was incorporated as a private limited company on07.06.1979 under the Companies Act 1956 and begancommercial production in June 1981. The company became apublic limited company on 21.10.1994.The company is engaged in the manufacture of high tensilefasteners for automobiles and other industrialapplications. It is a medium scale industrial unitregistered with DGTD New Delhi. The works are situated atFaridabad very close to the Delhi-Haryana border on MathuraRoad.The company commenced operations in 1981 with an installedcapacity of about 20 million pieces of fasteners and hasover the years increased the capacity to 165 mn pieces.Production has increased from 0.54 metric tonnes in 1981 to1735.74 MT in 1994. The major additions to capacity havebeen during the years 1989 to 1994. From a gross block ofRs. 51.10 Lacs in 1982 the company had a gross block ofRs. 336.13 Lacs in 1994. Sales have grown consistently fromRs. 19.43 lacs in 1982 to Rs. 12.54 crin 1994. Over theyears the company has added to its list of customers themajor ones being the automobile units set up in the mid1980''s with foreign collaborations. While Eicher andEscorts were amongst the first customers Baja Auto becamea customer in 1985 and Maruti Udyog in 1987. The companyhas not had any labour problems or closures in the recentpast. However commercial production was partially affectedin 1984 and 1986 for about a month.1