Rajasthan Gases Ltd Share Price

Summary

Rajasthan Gases (RGL) was incorporated as a private limited company on 27 Aug.93 in Jaipur and was converted into a public limited company on 10 Oct.94. It was promoted by Roopchand Baid and Surjeet Singh. Roopchand Baid is the present managing director. The company bottles and transports LPG in cylinders. The company was engaged in gas filling, transportation and distribution of gases within the limits of Rajasthan. Now, it intends for further expansion by setting up warehouse almost measuring 10,000 square feet area.In Aug.94, RGL has commissioned a LPG bottling facility of 9792 tpa at Tonk, Rajasthan. In Feb.95, RGL came out with a Rs 3.2-cr public issue to part-finance the Rs 13.84-cr plant for LPG bottling with a capacity of 24,192 tpa at Bigga, Rajasthan. Commercial production at the second plant which is expected by Jun.95, was deferred due to higher raw material prices. The company procures its raw material, liquified petroleum gas, from various reputed suppliers such as Bharat Shell, Jay Cylinders, Essar World Trade, etc. LPG is mainly used as a cooking fuel by domestic consumers and a small portion is used for industrial purposes such as cutting of metal, brazing, welding, flame hardening, heating refractories and tunnels, etc. The company is entering the transportation business to utilise its fleet of vehicles. During 1996-97, the company was appointed as a product facilator for LPG transportation by Reliance Industries Ltd.
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