Nelcast Ltd share Price

The Company was incorporated on 7th June 1982 as Nelcast Private Limited at Nellore (Andhra Pradesh). Subsequently, The company was converted into a public limited company and the name was changed to Nelcast Limited on 20th September 1995. Mr P.Radhakrishna Reddy promoted the company. Nelcast is engaged in the manufacture of castings that find application in the Automobile sector such as engine, transmission, suspension, axle, brake, steering, housings etc., farm equipment industry, railways and pipe fitting industries. The first unit set up in Gudur, Andhra Pradesh, with an installed capacity of 1200 MT per annum for manufacturing ductile iron parts, commenced commercial production in the year 1985, to serve as an ancillary unit to meet the requirements of Ashok Leyland Ltd. Subsequently, The company has started to cater the requirements of farm equipment manufacturers and other heavy commercial vehicle manufacturers like Tata Motors, Mahindra & Mahindra, Tata Cummins, Tafe, to name a few. In less than a decade, the unit was received ISO 9002-1994 / EN ISO 9002-1994 Quality certification by the Indian Register Quality Systems. In the year 1996, a new manufacturing unit was established in Ponneri, Tamil Nadu with an installed capacity of 12,000 MT per annum, for manufacture of Grey Iron and Ductile Iron parts, wherein the state-of-the-art machine shop, consisting of CNC and special purpose machines, and the Kunkel Wagner Moulding line were installed. Both the units have a distinct locational advantage of having proximity to the Chennai Port and also being well connected by both the railways and roadways. In the year 2003 a subsidiary Nelcast USA Inc. was incorporated for managing the marketing, customer care service and coordinating with the overseas clients of Nelcast, particularly those located in the US. In the year 2006, the company current manufacturing capacity of both the manufacturing units stands at 72,000 MT per annum, geared to reach 1,02,000 MT per annum by the end of the current financial year. Apart from servicing the domestic requirement, the Company is also exporting to USA, Europe and Australia.