Mahindra Composites Ltd Merged Company Summary

Mahindra Composites Ltd Merged Summary

Mahindra Composites Limited is a manufacturer of engineering plastics with wide applications in the automobile and electrical industries, the Defence, etc. The company is having their manufacturing facilities located at Raigad and Pune in Maharashtra.Mahindra Composites Ltd, formerly Siro Plast Ltd was established in the year 1982 with technical collaboration with Menzolit, Germany. The company set up a plant at Sale, Raigad district, Maharashtra, to manufacture 1200 TPA of sheet moulding compounds (SMCs), 400 TPA of dough moulding compound (DMC) and 1000 TPA of moulded components using SMC and DMC. Since then, the company has come a long way.In April 1989, the company commenced commercial production. In November 1989, the company came out with a public issue to part-finance their project. In May 1995, the company came out with a rights issue for acquiring additional capacities and for installing mould heating / handling system along with the testing and quality control equipment.During 2000-2001 the company successfully developed injection-moulding grades of DMC with low rejection rate in moulding and improved surface finish of moulded components.During the year 2003-2004, the company got breakthrough in switchgear industry by establishing technology of manufacturing halogen-free components and in the same year the company acquired land and building on lease at Pimpri, Pune. During the year 2004-2005, the company commissioned their second plant at Pimpri, Pune. During the year 2007-2008 the company successfully developed Surface Conductive, application for SMC and in the same year it also developed Head-Lamp material (DMC), which received approval from the customers collaboration and also developed in special Noise Reduction application for overseas models of commercial vehicle.