Harig Crankshafts Ltd Company Summary

Harig Crankshafts Ltd Summary

Harig Crankshafts Limited (HCL) was promoted in the joint sector by Pradeshiya Industrial Corporation of Uttar Pradesh along with Haring India and Deshbir Singh in collaboration with Wilbelmus Import and Export Establishment, Germany. The Company was incorporated in April, 1983 and set up a project to manufacture automotive crankshafts at Noida, Uttar Pradesh. The companys primary focus was the production of high-quality automotive crankshafts designed for a variety of vehicles, including cars, light commercial vehicles, trucks, and earth-moving equipment.The setup of HCL was strategically planned and executed in phases. The initial phase involved the installation of a cutting-edge crankshaft machining line, which began its commercial operations in January. This phased approach ensured a gradual and efficient ramp-up of production capabilities. HCL was recognized as a prominent player in the auto ancillary sector, specializing in the manufacture of both forged and machined crankshafts. Additionally, the company produces stub axles and other essential automotive components.HCLs facilities in Noida have advanced technology to meet the high standards of automotive part manufacturing. By focusing on quality and precision, the Company cater to the diverse needs of the automotive industry, contributing significantly to the sectors growth in India.The product includes crankshafts for cars, light commercial vehicles, trucks and earth moving equipment. The company commissioned in Mar.95 a forging press and a machine line to manufacture additional crankshafts to increase the total capacity to 89,000 pa. HCL offered rights in May 95 (premium : Rs 12) to raise funds to pay the interest owed to various financial institutions and to meet additional working capital requirements. It came out of the red in 1994-95. With the accumulated losses exceeded the total net worth the company has been referred to BIFR and the Board has declared the company as Sick. As a part of diversification the company has entered into the field of Foring Valve Bodies and Flenges of all sizes,thus reducing its dependence on the Automotive Industry.