Precision Metaliks Ltd Company Summary

Precision Metaliks Ltd Summary

Precision Metaliks Limited was incorporated as a Public Limited Company pursuant to a Certificate of Incorporation issued by the Registrar of Companies, Andhra Pradesh, Hyderabad dated July 27, 2012. Subsequently, the Company got converted into Private Limited Company and the name was changed to Precision Metaliks Private Limited vide fresh Certificate of Incorporation issued by the Registrar of Companies, Telangana, Hyderabad on March 18, 2016. Subsequently, Company converted again into a Public Limited and name of the Company was changed to Precision Metaliks Limited and a fresh Certificate of Incorporation was issued by the Registrar of Companies, Telangana, Hyderabad, on March 19, 2021. The Companys Promoters are Abhishek Business Private Limited and Smt. Jayanthi Roja Ramani.The Company was initially engaged in the business of Trading of Metals prior to FY 2018-19. After that, it commenced manufacturing activity from FY 2019-20 in the SEZ Unit. SEZ Unit is situated at Visakhapatnam, Andhra Pradesh. Under this Unit, the Company carry out the manufacturing activities / process on Semi finished Wheels by rendering value added services such as cleaning, washing, buffing, polishing, testing and packing.The Company developed a custom solution, which is a combination of robotic grinding and buffing, combined with automatic media polishing, which allows 3D polishing of alloy wheel castings. The process has been automated to make it consistent / efficient and proven. It provides high-end design Engineering services, Analysis, Product Development, Prototyping, Tooling Design and various other services such as flow forming, skin cut services etc. The Buffing on wheels is done by using linen, cotton, broad cloth and canvas etc. Buffing process is carried out to remove scratches, oxides, coatings from the wheels. As a result of this process, the wheel will give a better smoothness for polishing. The Company also use the Precision Technology for polishing the wheels. Aluminium Ingots, Paints and Consumables, Fuel etc. are the major raw material used in providing value added services to alloy wheel manufacturers by processing semi-finished alloy wheels into finished wheels. The Company source Aluminium Ingots locally as well as import from Russia and Europe. Paints and Consumable as well as Fuel is sourced from various suppliers in domestic markets. The Company has secured orders for supply of finished alloy wheels along with accessories from USA aftermarket distributor and importer.In 2018, the Company established SEZ Unit in Visakhapatnam, Andhra Pradesh. In 2019, it commenced manufacturing activities and executed Order from its client, namely Synergies Castings Group for 1st Export.In January 2022, the Company came up with a Public Issue of 43,00,000 equity shares by raising equity fund from public aggregating to Rs 21.93 Crores.