Patels Airtemp (India) Ltd Share Price

Description

• Promoted by N G Patel and Associates Patel, Airtemp (India) was incorporated in Aug.`92 with the objective of taking over two of the eight existing units of the group in order to create a harmony in the group`s product range and to avoid competition among the group companies. The two existing profit-making companies -- Patel Airtemp Pvt Ltd and Gujarat Patcon Pvt Ltd -- have been merged with Patel Airtemp (India) pursuant to the order of the Gujarat High Court dated 1 May `93. These two companies had their independent manufacturing facilities at GIDC Vatva, near Ahmedabad, which are now designated as Unit I and II of the company. The company has set up another plant at Kalol in Mehasana district, Gujarat, for which it came out with a public issue in Mar.`94, aggregating Rs 3.5 cr. The company manufactures a wide range of engineering equipment such as heat exchangers, pressure vessels, industrial fans and blowers as well as air-conditioning and refrigeration equipment. The company`s product range is used extensively as capital equipment in several projects like fertilisers, petrochemicals, cement, agro-chemicals, chemicals, pharmaceuticals, power plants, etc. With the third unit on stream, the company manufactures special pressure vessels like horten spheres, LPG bullets and storage vessels for hazardous chemicals. Company has completed two prestigious Jobs for Nirma Ltd for their LAB as well as Soda Ash Project. These jobs were sucessfully completed with rigid quality specifications. Similarly, Company also executed certian critical jobs pertaining to ventilation and Airconditioning Equipment & Project for M/s Reliance Petroleum Ltd- Jamnagar, also some Special Heat Exchanger for Indo Gulf Fertilisers & over 16 Bullets for IOCL for its various plants located all over country. Company also seriously exploring the possibility of going for the lucrative line of Turnkey Projects. During August 2004,the Vatva division of the company has been demerged into Patels Airflow Ltd.In consideration,thereof One equity share of Rs.10/- each of Patels Airflow Ltd has been issued for every Four existing equity shares held.Consequently the existing equity shares of Rs.10/- each get reduced to Rs.7.50 each,which were consolidated into Three equity shares Rs.10/- each for every Four Shares of Rs.7.50 each.

• Promoted by N G Patel and Associates Patel, Airtemp (India) was incorporated in Aug.`92 with the objective of taking over two of the eight existing units of the group in order to create a harmony in the group`s product range and to avoid competition among the group companies. The two existing profit-making companies -- Patel Airtemp Pvt Ltd and Gujarat Patcon Pvt Ltd -- have been merged with Patel Airtemp (India) pursuant to the order of the Gujarat High Court dated 1 May `93. These two companies had their independent manufacturing facilities at GIDC Vatva, near Ahmedabad, which are now designated as Unit I and II of the company. The company has set up another plant at Kalol in Mehasana district, Gujarat, for which it came out with a public issue in Mar.`94, aggregating Rs 3.5 cr. The company manufactures a wide range of engineering equipment such as heat exchangers, pressure vessels, industrial fans and blowers as well as air-conditioning and refrigeration equipment. The company`s product range is used extensively as capital equipment in several projects like fertilisers, petrochemicals, cement, agro-chemicals, chemicals, pharmaceuticals, power plants, etc. With the third unit on stream, the company manufactures special pressure vessels like horten spheres, LPG bullets and storage vessels for hazardous chemicals. Company has completed two prestigious Jobs for Nirma Ltd for their LAB as well as Soda Ash Project. These jobs were sucessfully completed with rigid quality specifications. Similarly, Company also executed certian critical jobs pertaining to ventilation and Airconditioning Equipment & Project for M/s Reliance Petroleum Ltd- Jamnagar, also some Special Heat Exchanger for Indo Gulf Fertilisers & over 16 Bullets for IOCL for its various plants located all over country. Company also seriously exploring the possibility of going for the lucrative line of Turnkey Projects. During August 2004,the Vatva division of the company has been demerged into Patels Airflow Ltd.In consideration,thereof One equity share of Rs.10/- each of Patels Airflow Ltd has been issued for every Four existing equity shares held.Consequently the existing equity shares of Rs.10/- each get reduced to Rs.7.50 each,which were consolidated into Three equity shares Rs.10/- each for every Four Shares of Rs.7.50 each.