SIBAR AUTO PARTS Share price

SIBAR AUTO PARTS LIMITED was originally incorporated as aPrivate Limited Company by name "Sibar Auto Parts PrivateLimited" on 19th February 1983 vide Certificate ofIncorporation No.01-3817 issued by Registrar of CompaniesHyderabad. The Shareholders in the Extraordinary GeneralMeeting held on 3.3.94 have decided to convert the Companyinto Public Limited and to change the name as " SibarAutoParts Limited.'' The Company has obtained Fresh Certificateof Incorporation with change of name on 13/6/1994 fromthe Registrar of Companies.The Company is presently engaged in manufacturing andmarketing of Aluminium Hard Chrome Plated Cylinder kitsmainly for Two Wheelers upto engine capacity 150 CC. Thisis the only known Company in India producing Aluminiumchrome plated Cylinder kits other than for captive use andfor the replacement market. The Company''s products conformsto the requisite quality requirements of the internationalmarkets. There is a good demand for this product both inthe domestic and international markets. The product issuitable for replacement in vehicles produced by severalleading companies in the world like PEUGOT PIAGGIO TVSENFIELD INDIA LTD HERO MAJESTIC KINETIC MOTORS LTD etc.The exports touched Rs. 174 Lakhs in 1993-94 from a modestRs. 3 Lakhs in 1990-91 which works out to 90.88 % of thetotal Sales Turnoverduring the yearwhich perhaps isindicative of the potentiality of the product in theinternational market. Though the response from theimporters and domestic dealers are quite encouraging dueto limitation of installed capacity the Company is unableto meet the export demand and the domestic market demand.Not only the production capacity of Cylinder barrels is aconstraint but also the procurement of high qualitypistons from the domestic market is creating difficultiesin meeting time schedules.