Porwal Auto Components Ltd Company Summary

Porwal Auto Components Ltd Summary

Porwal Auto Components Ltd. was incorporated on February 03, 1992 as a Porwal Auto Components Private Limited. The Company was converted into a Public Limited Company on September 09, 1992 with the name Porwal Auto Components Limited.The Company is a diversified auto-components company with presence across many processes/ product lines and customers and involved in manufacturing and marketing of S.G. (Ductile) Iron, Grey Cast Iron and Steel Castings and Components for the Automobile, Engineering & Railway Applications. The engineers took on the project by researching, experimenting, and developing the manufacturing system to efficiently produce high-quality castings. Lost foam is advantageous for complex castings that would normally require cores. The Company caters to various sectors including Automobile, Engineering, Pumps and Valves, Agriculture and Tractor Equipments etc.Mr. Surendra Jain, Mr. Devendra Jain and Mr. Mukesh Jain were promoted the company. The Company has received a 1S0/TS 16949:2002. The company has engaged in the business of manufacture of SG and CI Castings with an installed capacity of 6600 T per annum, which is presently upgraded to 9000 MT per annum, in order to enhance the product profile and cater to larger customer base. The company has implemented a large-scale expansion programme to increase the capacities upto 27600 MTA. The expansion programme has commenced from January 2005. The total expansion would be completed by June 2008.To part finance the expansion programme, during January 2006, the Company had made a preferential allotment of 80,00,000 equity shares, out of which 43,00,000 equity shares were allotted to promoter group and the balance 37,00,000 equity shares were allotted to Porwal Finsec Pvt. Ltd. (Acquirer), a non-promoter Company. The acquirer has complied with SEBI (SAST) Regulations and an Open Offer was made to the equity shareholders of PACL.The Company commissioned solar power generation unit in the financial year 2013-14 at Tarana, Ujjain M.P. for captive consumption.