Shri Gang Industries & Allied Products Ltd Company Summary

Shri Gang Industries & Allied Products Ltd Summary

Incorporated in Aug.89, Shri Gang Industries and Allied Products Limited (Formerly known Suraj Vanaspati Ltd) is a Joint Venture between Suraj Gupta and Associates and the Pradeshiya Industrial Corporation of Uttar Pradesh (PICUP). The Company was engaged in the business of manufacturing and Sale of Vanaspati, Refined Oils and Bakery Shortening. It manufactured these products under its brands,Apna and Mr. Baker through their plant situated at Sikandrabad, Uttar Pradesh (UP). The company set up a 20,625 tpa vanaspati plant and a 25-tpd refinery in the Kangra district of Himachal Pradesh. It came out with a public issue in Aug.93 to part-finance the project.Commercial production commenced in Mar.90. Its products are marketed under the Apna brand name. In 1993, the company launched an expansion programme and increased the capacity from 33,000 tpa to 36,594 tpa, which was again increased to 49,500 in 1994.During the year 1999-2000, there has been a 100% erosion in the net worth of the company. Hence, the company has become a Sick Industrial Company and a reference is made to the Board of Industrial Financial Reconstruction.The manufacturing activities at factory premises was suspended with effect from March 25, 2010 since the plant at Sikandrabad (UP) was quite old and required substantial capex towards technological up-gradation and addition of new equipment. IDBI was appointed as an Operating Agency for formulating the Rehabilitation Scheme for the Company.In 2020-21, the Company resumed its manufacturing operations at Vanaspati Unit. As a part of the Rehabilitation Scheme, the Company diversified into liquor business and set up Bottling Plant for Indian Made Foreign Liquor (IMFL) at Sandila, Dist. Hardoi, Uttar Pradesh which commenced commercial production in July, 2020. It further set-up a Distillery Unit as a backward integration of Bottling Plant. The said Distillery Unit commenced commercial production in September, 2022. The company is exclusively manufacturing IMFL for United Spirits Limited.