Amforge Industries Ltd

Amforge Industries Limited (AIL), which was incorporated on 21 April, 1971 as Hakimrai Jaichand Forgings Pvt Ltd, had taken over the running business of partnership firm, Hakimrai Jaichand, which mainly engaged in the business of Steel Forgings. Thereafter, in December 1985, the Company's name was changed to Amforge Industries Private Limited, and then on 9th December 1985, the name was changed to Amforge Industries Limited. Later in April 1994, Isha Steel Processors was amalgamated with the Company. AIL is the second-largest manufacturer of forgings in the country. It produces a wide range of quality steel forgings from it's plants at Mumbai, Pune, Faridabad and Khopoli. In 1986, the Company went Public. It came out with a public issue of 14.19 lac 12.5% PCDs of Rs 100, aggregating Rs 14.19 cr, in Jul.'90. The proceeds of the issue were utilised to part-finance its Rs 25.19-cr expansion project to increase the forgings capacity to 35,000 tpa. In 1996-97. after the initial phase of stabilization, the new precision forging plant at Chakan, Pune became fully operational. This year the company has also undertook an exercise aimed at improving operational efficiency and productivity with the help of an internationally reputed consulting firm. In 2005-06, the Chakan Plant was demerged with and into Mahindra Automotive Steels Ltd. (MASL) from 01.04.2005. In Consideration of the same, the shareholders of the Company received 1 No. each of Equity Share of Rs.10/- each and 4% Redeemable Preference Share of Rs.31/- each for every equity share held in the Company. Thereafter, the Company was carrying with its manufacturing activities of steel forgings for two wheeler Crankshafts, Connecting Rods, Bevel Gears, Bridge Fork Bottoms, etc. at its Chinchwad plant (Pune) Forging Capital of India, catering to automotive industry and thereafter the Plant ceased its operation in 2008. Thereafter, Dujon Commercial Private Limited was made wholly owned subsidiary of the Company since October, 2008.