Auro Impex & Chemicals Ltd Company Summary

Auro Impex & Chemicals Ltd Summary

Auro Impex & Chemicals Limited was originally incorporated as Auro Impex & Chemicals Private Limited on January 20, 1994 as Private Limited Company with Registrar of Companies, Kolkata, West Bengal. Subsequently, Company converted into a Public Limited Company and its name was changed to Auro Impex & Chemicals Limited. A fresh Certificate of Incorporation consequent upon conversion to a Public Limited Company, was issued by the Registrar of Companies, Kolkata, West Bengal on September 30, 2022. The Company specializes in manufacturing of Collecting Electrode, Discharge Electrode Plate steel structures and other internal components of an Electrostatic Precipitator (ESPs) - a filtration device used to remove smoke and fine dust particles from flowing gas used in various heavy industries such as Steel Plants, Sponge Iron industry, Cement Plants, Thermal Energy Plants and any other plant where the coal is burnt, as a measure to control Air Pollution. The Company commenced operations in the year 1989 under a proprietorship concern, Auro Enterprises, which was led under the leadership of Promoter, Mr. Madhusudan Goenka. In 1995, the Company started business as a trading concern of foundry flex, ferrous and non- ferrous alloys and established a channel network over the years. With the growing demand to minimize air pollution, as well as increased awareness amongst the public and the government initiatives to reduce air pollution, in year 2011, the Company had set up a Manufacturing facility for manufacturing of Electrostatic precipitator internals for both American and European designs in West Bengal, with all the requisite machines and equipment, of becoming one of the top producers of ESP Internals (Collecting Electrode, Discharge Electrode, Electro- magnetic rapper, Tank Fabrication and Duct Fabrication and ESP Internal spare parts etc). It has been providing production services like design/detailing, manufacturing and project execution to Original Equipment manufacturers and service providers for whom it manufactured the internal parts of Electrostatic Precipitators (ESPs).After that, the Promoter, Mr. Madhusudan Goenka established Auro Industries Ltd. which took over the trading business of Auro Enterprises and steadily expanded into importing of Electrostatic precipitator, hollow bushings, manufacturing of batteries for the battery industry under the brand name Auro which launched in year, 2017. In FY 2022, the Manufacturing Facility had a total installed capacity of 15,500 M.T. and a total actual output of 12,252 M.T.The Company made an Initial Public Offer by issuing 34,70,400 Equity Shares of face value of Rs 10 each by raising funds aggregating to Rs 27 Crore comprising a fresh issue of 29,20,000 equity shares to Rs 23 Crore and the offer for sale of 5,50,400 equity shares to Rs 4 Crore in May, 2023.