Kranti Industries Ltd Company Summary

Kranti Industries Ltd Summary

Kranti Industries Limited was incorporated on December 5, 1995, as Kranti Precision Tools Private Limited with the Registrar of Companies, Bombay, Maharashtra. The Company changed the name of the Company from Kranti Precision Tools Private Limited to Kranti Industries Private Limited pursuant to fresh Certificate of Incorporation on March 11, 2002. Thereafter, it was converted into Public Limited Company and the name was changed to Kranti Industries Limited vide a fresh Certificate of Incorporation dated August 17, 2015 issued by the Registrar of Companies, Pune.Company is engaged in the business of manufacturing and supplying of precision machined components. It manufacture customized products for reputed Original Equipment Manufacturers (OEMs) of diverse industries such as passenger cars, electric cars, two wheelers, tractors, construction machineries, railways, light vehicles, off-highway, heavy trucks etc.The Company has two manufacturing units adjacent to each other located at Pirangut, Pune, Maharashtra having a total area of approximately 4,100 square meters and 2,730 square meters respectively. Prior to incorporation of the Company, the Founder Promoter Late Mr. Subhash Kundanmal Vora was conducting the business through erstwhile Partnership Firm namely M/s Kranti Industries since 1987. In 2001, the Company became a partner of the M/s Kranti Industries. Subsequently in 2002-2003, the Company took over the running business of the firm which dissolved with effect from April 1, 2002. The Company commenced factory operations by installing first Horizontal Machining Center line for machining of Gear Box Housings for Tractors in 2004. In 2010, it acquired additional factory in Pirangut, Pune. In 2011, it constructed and installed and Productionized machines to enhance the capacity. The Company acquired majority stake in Wonder Precision Private Limited in 2013 and further in 2014, it diversified the focus from Tractor industries and developed parts for Construction, Auto, commercial Vehicle, Pneumatic Tools, Wind Mill and Medical Industry. In 2018, the Company entered a joint venture agreement with Steel Forge Cast Industries for the purpose of carry on the business of Machining of forging and casting components. The Company acquired 30% stake in M/s KRANTI SFCI PVT. LTD., making it an associate Company in 2018-19 and started the Rajkot operations. Also, it increased the production capacity by adding new machines in Q1 of FY 2019-20 in existing manufacturing units. The Company installed HMC with Linear Pallet Pool System in 2019-20. In February 2019, the Company came up with an Initial Public Offer of 23,19,000 Equity Shares by raising capital aggregating Rs 8.58 Crore, comprising a Fresh Issue Equity Shares of 17,52,000 aggregating Rs 6.49 Crore and an Offer for Sale of 5,67,000 Equity Shares aggregating Rs 2.09 Crore.The Company acquired controlling stake in Preciso Metall Pvt Ltd. in April 2023. It opened third manufacturing plant in May, 2023..