| Metal Coatings (India) Ltd. (MCIL), was incorporated on
12-12-94 under Companies Act, 1956 to take over the assets
and liabilities of Metal Coatings (India), an existing,
profit making partnership firm set up in 1988. MCIL took
over operations of the firm on 5-3-95 by taking over all the
assets & liabilities of the firm in consideration of fully
paid 7,67,408 equity shares of Rs. 10 each amounting to
Rs. 76,74,080 which was equivalent to the balances of the
partners in capital account including profits apportioned as
on 4th March, 1995 and all the partners in the erstwhile
firm continued as directors in the company. The assets and
liabilities of the erstwhile firm takenover by MCIL are as
follows as per the audited Balance sheet as on 4th March,
1995:-
MCIL is engaged in the business of manufacture of Galvanised
Steel Cable Tapes (GST) for Polyethylene Insulated Jelly
Filled (PIJF) Cable industry. MCIL has an installed
capacity of 3200 MT per annum of GST tapes at its existing
site at Meola Maharajpur, Faridabad. The company has
already increased its GST capacity to 7400 MT p.a. by adding
galvanising line at existing site as part implementation of
the scheme. It recorded a turnover of Rs. 958.93 lacs for
the financial year 1994-95 against Rs. 662.15 lacs for
financial year 1993-94, on an average paid up Capital of
Rs. 59.20 lacs and Rs. 31.80 lacs respectively.
The company has been promoted by Mr. R.C. Khandelwal,
Mr. R.S. Khandelwal and Smt. V.P. Khandelwal.
The company now envisages to enhance its capacity to 13200
MT through an expansion-cum-backward integration scheme
spread over the existing and new site at Plot No. 113, HSIDC
Industrial Estate, Sector 59, Faridabad. In order to meet
its requirement of CRCA strips, MCIL is installing a CR Mill
of 13000 TPA, CR slitting unit of 12300 TPA and other
balancing equipments. After the implementation of the
project, the entire requirement of CRCA strips would be met
from in-house.
There are no disputes, labour problems, lockouts, other
litigations (civil or criminal) against the company.
2003 -Voluntary delisting of its shares from Delhi and Jaipur Stock Exchanges.
2012
- The Company has recommended a Dividend of 10 %.
2013 -The Registered office of the company has been shifted from A - 178/12A, Ground Floor, Dayanand Colony, Lajpat Nagar -IV, New Delhi - 110024 to 912, Hemkunt Chambers, 89 Nehru Place, New Delhi - 110019.
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