Metalman Industries Ltd Company Summary

Metalman Industries Ltd Summary

Incorporated on 12 May71, Metalman Pipe Manufacturing Company went public in 1986. It was promoted by the late Janak Raj Soni along with his family. The company is engaged in the manufactures of M S black and G I pipes. It also manufactures cold rolled strips. The companys products -- black and galvanised tubes -- are used for irrigation, tube wells, water conveyance and structurals. Cold-rolled strips are partly captively consumed and the remaining is sold to automobile manufacturers.The company came out with a rights issue of convertible debentures in Feb.94 to finance a project to enhance the capacity of cold-rolled steel strips from 10,000 tpa to 100,000 tpa.The company earned foreign exchange worth Rs 8.97 cr in 1994-95. It has been accorded the status of Export House for 1994-95. The company has decided to enhance the capacity of the tube mill from 25,000 tpa to 75,000 tpa and has also decided to go in for forward integration by setting up GP/GC plant having annual capacity of around 1,00,000 tpa.In view of future expansion/diversification programmes, the company proposes to increase the authorised share capital from Rs 15 cr to Rs 35 cr.In the year 1995-96 the company has earned foreign exchange worth Rs 11.85 crores. The company has undertaken implementation of a project to manufacture GP/GC Sheets at Pithampur.