Sterling Tools Ltd share Price

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• Sterling Tools (STL), originally incorporated as a private limited company has became a public limited company in Oct. `94., engages in manufacturing high-tensile (HT) fasteners mainly for automobiles. The plant of the company is situated at Faridabad. STL which has started it`s commercial production in 1981 has increased it`s installed capacity in stages over the years to level of 7500 MTPA as on 2000-01. It has completed an expansion project in the year 1995-96 by which the installed capacity for manufacturing HT Fasteners increased from 4000 tpa to 6600 tpa at a cost of Rs.10 crore mainly funded through its maiden public issue in Apr 1995. Further in 1996-97 and 2000-01 the capacity has expanded by 400 tpa and 500 tpa respectively. The company supplies to diverse segments in the auto sector like two- and four-wheeler passenger transport, goods transport, tractors and farm equipment. Over the years, its clientele has expanded to include most of the major automobile OEMs. It`s client list includes Eicher, Escorts, Bajaj Auto, Maruti Udyog, Hero Honda and Telco. STL has created a niche for itself as a supplier to the leaders in the various segments of the automobile industry. The company is the largest supplier of HT fasteners to Hero Honda and the second-largest supplier to Maruti, Bajaj Auto and TELCO. STL known in the industry for it`s indigenous development of requisite technical skill for 14 years has wide product range which includes over 2000 types of fasteners ranging from 5 mm to 24 mm in diameter. The company obtained ISO 9002 certification during 1998 and QS 9002 during 1999-2000. It is in the process of installing spherodising and annealing facility for raw materials viz. steel wire rods / wires. STL is also trying to penetrate the export markets in UK, Germany, France, Belgium and Italy.