Pradeep Metals Ltd Company Summary

Pradeep Metals Ltd Summary

Pradeep Metals Ltd (PML), incorporated in January, 1982 was promoted by V P Goyal to manufacture closed-die steel forgings. The Company uses state-of-the-art machinery with sophisticated tool-room equipment to manufacture its forgings and machined parts. The Company has manufacturing facility in Navi Mumbai. It employs hi-tech design and analysis software to create dies and tooling that play a key role in production of forgings. Manufacturing plant is fully integrated with complete facilities for inspection, testing, cutting, dies and tool making, forging, heat-treatment, finishing, machining, cleaning, surface treatment and assembly.The Company started commercial production in Jul.83 at Dombivli, Maharashtra. In 1989-90, it expanded the existing capacity to 2400 tonnes per annum (TPA) for forged components in the 500 gm to 8 kg weight range, used mainly in the automobile industry. It came out with a public issue in Jan.94 to set up a 12,000-tpa unit for press forgings to produce precision parts in the 50 gm to 40 kg weight range, which find application in the defence, engineering, petrochemicals sectors.The expansion programme started in Oct.94, delayed by eight months, as the plant and machinery arrived late at the site on account of customs problems. The plant at Dombivli (cap. : 2400 tpa) which used the hammer approach in forgings have been closed in 2000 due to low production and huge losses. The Company enhanced its machining capacity and capabilities by adding CNC Turning Centers, Vertical Machining Centers (VMC), Turn Mills / Mill Turns and other equipment to address the rising demand of finished machined components and sub-assemblies. In addition to in-house facilities, it made significant effort and developed dedicated vendors for machining, in order to supplement its machining capacity and capabilities. Thereafter, it expanded machine shop capacity by importing surplus machineries from its Step-down Subsidiary namely Dimensional Machine Works, LLC, Houston (USA) and upgraded them. Recently, the Company has embarked on a journey to improve its bottom line by employing TOC techniques in the process.