Suraj Industries Ltd Share Price

Summary

Suraj Industries Limited was incorporated on July 9, 1992. Company is into the business of trading edible oils and other products, which consist Palm Oil, Soybean Oil, Rice etc and processing and bottling of Liquor.During the year 2002-03, the Company incurred heavy losses due to adverse market conditions resulting from continuing import of oil and dumping of vanaspati and refined oils in the State of Himachal Pradesh from adjoining states. Since the losses were continuing unabated, the manufacturing activities at the unit were suspended since January, 2003. Due to fresh losses and bleak future prospects, the Company had applied to the State Government for permission to close the Unit. However, the State Government did not grant the permission in response to which the company had filed a review application. In the meantime, the State Government is also exploring the possibilities of reviving the Unit.During the year 2003-04, the manufacturing activities at the Unit were suspended due to continuous losses. But the operations were resumed w.e.f. 18.03.2004 and manufacturing activities started from April, 2004. Due to adverse market conditions in respect of Edible Oil industry in the State of Himachal Pradesh and resultant losses, manufacturing activities at Companys unit at Sansarpur Terrace were stopped in February, 2003. The Company again started the operations at this unit and once again suffered heavy losses and consequently the operations were again stopped in December, 20
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