NELCAST Share price

OverviewOur Company was incorporated on 7 June 1982 as Nelcast Private Limited at Nellore AP under the Companies Act 1956 vide Registration No. 01-3518. Subsequently it was converted into a public limited company and the name was changed to Nelcast Limited on 20 September 1995. The Registered Office of the Company which was originally located at 24/398 Dargamitta Nellore was shifted to the present location at 34 Industrial Estate Gudur 524 101 on 12 July 1994. We also have a corporate office in Tamil Nadu located at 159 TTK Road Alwarpet Chennai.Promoted by Mr.P.Radhakrishna Reddy Nelcast is engaged in the manufacture of castings that find application in the Automobile sector such as engine transmission suspension axle brake steering housings etc. farm equipment industry railways and pipe fitting industries.The first unit set up in Gudur AP with an installed capacity of 1200 MT pa for manufacturing ductile iron parts commenced commercial production in the year 1985 to serve as an ancillary unit to meet the requirements of Ashok Leyland Ltd. Subsequently it started to cater to the requirements of farm equipment manufacturers and other heavy commercial vehiclemanufacturers like Tata Motors Mahindra & Mahindra Tata Cummins Tafe to name a few. In less than a decade the unit was awarded ISO 9002-1994 / EN ISO 9002-1994 Quality certification by the Indian Register Quality Systems which was valid from 23 August 1995 to 11 September 2001In the year 1996 a new manufacturing unit was established in Ponneri Tamil Nadu with an installed capacity of 12000 MT pa for the manufacture of Grey Iron and Ductile Iron parts wherein the state-of-the-art machine shop consisting of CNC and special purpose machines and the Kunkel Wagner Moulding line were installed. Both the units have a distinct locational advantage of having proximity to the Chennai Port and also being well connected by both the railways and roadways.In the year 2001 the units were awarded the QS 9000:1998 Quality certification by Underwriters Laboratories Inc. Melville New York USA for motor vehicle parts and accessories which was valid from 10 January 2001 till 10 January 2006 and then again ISO/TS 16949:2002 Quality certification for grey and ductile iron foundries in the year 2005 valid till date. In the year 2003 a subsidiary Nelcast USA Inc. was set up in the USA for managing the marketing customer care service and coordinating with the overseas clients of Nelcast particularly those located in the US.After witnessing three consecutive years of growth by over 50% in turnover (2003 2004 and 2005) the year 2006 saw the Company?s turnover cross Rs.25000 lakhs and winning the Best Vendor Award from Tafe Limited and also the Outstanding Supplier Award from Eicher Motors Limited.Today the combined manufacturing capacity of both the manufacturing units stands at 72000 MT p a geared to reach 102000 MT pa by the end of the current financial year. Apart from servicing the domestic requirement the Company is also exporting to USA Europe and Australia.MilestonesYear Event1985 First unit in Gudur - Commenced Commercial production. Supply to HCV manufacturers.1990 Started supply to farm equipment manufacturers.1994 ISO 9002 Quality Certification awarded to the unit at Gudur valid till the September 2001.1995 Exports to US commenced.1996 New Unit in Ponneri Started Commercial production.1997 Turnover crossed Rs.5000 lakhs.2000 State of art machine shop consisting of CNC machines and special purpose machines commissioned at the plant at Ponneri.2001 * State of the art Kunkel Wagner Moulding Line installed at the Ponneri Unit. * Exports to Australia commenced. *QS 9000 Quality certification received for both the units valid till January 2006.2003 * Wholly Owned Subsidiary Nelcast USA Inc. incorporated in USA * Turnover crossed Rs.10000 lakhs.2004 Exports to Europe commenced2005 *Turnover crossed Rs.20000 lakhs. * TS 16949 Quality certification received. * Third consecutive year of growth in turnover by 50%.2006 * Turnover crossed Rs.25000 lakhs. * Exports cross USD 5 Million. * Awarded the best vendor award by Tafe limited and outstanding supplier by Eicher Motors Limited.