Prakash Industries Ltd Share Price

Summary

Prakash Industries Limited (PIL) was incorporated on July 31, 1980 as Prakash Pipes and Industries Limited. The Company formerly known as PIL Limited was changed to Prakash Industries Limited. The Company is presently engaged in manufacture and sale of Steel Products and generation of Power.PIL came out with a public issue in Nov.91 to part-finance the sponge iron project being set up at Champa, Madhya Pradesh, with an installed capacity of 1.5 lac tpa. The company manufactures PVC pipes, B&W TV picture tubes and video tapes and cassettes. PIL has technical collaboration with Lurgi, Germany, for the sponge iron project. The plants are located in Uttar Pradesh, Madhya Pradesh (two), Punjab and Orissa. In 1994-95, the company doubled the capacity of the sponge iron plant from 1.50 lac tpa to 3.30 lac tpa and also undertook a forward integration project to set up a stainless steel plant in Gujarat together with a rolling mill and a worsted woollen yarn EOU at Silvassa. The company also took up the expansion of the iron-ore mining and crushing capacity. It came out with a rights issue in Jan.96 to part-finance the above expansion-cum-diversification project. The company successfully commissioned the stainless steel project at Bharuch in 1995-96 and has also completed all other expansion and diversification projects. The video tape division bagged the Elcina certificate of merit for excellent export performance for 1992-93. PIL is also implementing a 10-MW wind-farm project in Tam
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