Sharp Industries Ltd Company Summary

Sharp Industries Ltd Summary

Sharp Industries (SIL) was incorporated on 29 Mar.88 as a public limited company. SIL was promoted by Ishwarlal Dang, Ranchhodhbai Patel and Madhan Dharan in 1988. Ishwarlal Dang is the chairman and Anil R Patel is the managing director. SILs group companies are P & P containers, Vapi Paper Mills, Swift Finlease (India) and Angel Plastics. The company came out with a rights issue of 11.40 lac 12% FCDs of Rs 110 at par, aggregating Rs 12.55 cr in Apr.94, to part-finance the expansion of its flexible packaging division from 1800 tpa to 4050 tpa and also to provide for working capital margin, at a project cost of Rs 17.27 cr. The company manufactures and markets flexible packaging materials. SILs products include heat-sealable bi-axially oriented polypropylene (BOPP), polyester laminates, etc. Its major clients are P&G, Pepsi Foods, Britannia, Nestle, Cadburys, Glaxo, etc. SIL has exports worth Rs 52 lac from Apr.93 to Dec.93. The company plans to expand its rotogravre cylinders from 3600 pa to 5400 pa. The promoters of the company were running two companies -- Sharp Prints and Swift Packaging -- which were later taken over by SIL through amalgamation in Jan.89. SIL is diversifying to set up a Rs 6-cr sharp foundry in India, at Arasur near Coimbatore. The company exported stretch film to European countries in 1992. The company has added product lines with high value addition and high margin such as embossed levels, heat shrink sleeves and specialised coated paper and film lamintes.The commercial production of joint venture company Sharp-Hanmar Ltd has commenced during 1997-98. During the same year it has received the prestigious International and National awards on productivity.The company is also in process of finalising a long term contract for export business, which can be catered by modernisation and equipments updating of the present facalities available with the company.