Polar Industries Ltd Share Price

Summary

Established in 1982 and promoted by Anil Agarwal, Polar Industries (PIL), the flagship of the Polar group, is primarily a ceiling-fan producer, but has re-fashioned itself into an electro-mechanical syndicate by diversifying into synergical products like fractional horse power (FHP) motors and water/chemical lifting pumps. PIL which has four divisions - fans (cap. ; 15 lac), FHP motors (cap. : 6 lac), pumps (cap. : 3.6 lac) and electrical stampings (cap. : 2940 tpa) - has also added domestic appliances to its fold. It launched a wide range of domestic appliances under the Sheffield brand name, which received a good response.The takeover of Sumach Electricals by the company stregthened its ceiling fan segment. The introduction of hi-speed presses and de-carbonisation and re-crystallisation plants in the lamination division increased PILs installed capacity. The company has expanded its motor divisions capacity to 6 lac pa.The fans are being exported to countries like the UK, Germany, Holland, France and other European countries, besides west Asian countries and Bangladesh; while motors are being exported to Russia and other European countries.The company has achieved a major milestone by becoming an ISO 9002 in all the product lines. It has expanded its product range through introducing new models like `Windchill,`Winchester,`Edison-M.X.,`Edison Sunflower Yellow, etc. During 2000-01,the company took a timely decision to merge a group company,Polar Fan Industries Ltd(PFIL) with
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