| Overview
Our Company was incorporated on 7 June, 1982 as Nelcast Private
Limited at Nellore, AP under the Companies Act, 1956 vide Registration
No. 01-3518. Subsequently, it was converted into a public limited
company and the name was changed to Nelcast Limited on 20
September, 1995. The Registered Office of the Company which was
originally located at 24/398, Dargamitta, Nellore, was shifted to the
present location at 34, Industrial Estate, Gudur 524 101 on 12 July, 1994.
We also have a corporate office in Tamil Nadu located at 159, TTK Road,
Alwarpet, Chennai.
Promoted by Mr.P.Radhakrishna Reddy, 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, AP, with an installed capacity of 1200 MT pa
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, it started to cater to 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 awarded ISO
9002-1994 / EN ISO 9002-1994 Quality certification by the Indian Register
Quality Systems, which was valid from 23 August, 1995 to 11 September,
2001
In the year 1996, a new manufacturing unit was established in Ponneri,
Tamil Nadu with an installed capacity of 12,000 MT pa, for the 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 2001, the units were awarded the QS 9000:1998 Quality certification
by Underwriters Laboratories Inc., Melville, New York, USA for motor vehicle
parts and accessories, which was valid from 10 January, 2001 till 10 January,
2006 and then again ISO/TS 16949:2002 Quality certification for grey and ductile
iron foundries, in the year 2005, valid till date. In the year 2003 a subsidiary
Nelcast USA Inc. was set up in the USA for managing the marketing, customer
care service and coordinating with the overseas clients of Nelcast, particularly
those located in the US.
After witnessing three consecutive years of growth by over 50% in turnover
(2003, 2004 and 2005), the year 2006 saw the Company's turnover cross
Rs.25,000 lakhs and winning the Best Vendor Award from Tafe Limited and
also the Outstanding Supplier Award from Eicher Motors Limited.
Today, the combined manufacturing capacity of both the manufacturing units
stands at 72,000 MT p a, geared to reach 1,02,000 MT pa by the end of the
current financial year. Apart from servicing the domestic requirement, the
Company is also exporting to USA, Europe and Australia.
Milestones
Year Event
1985 First unit in Gudur - Commenced Commercial production. Supply to
HCV manufacturers.
1990 Started supply to farm equipment manufacturers.
1994 ISO 9002 Quality Certification awarded to the unit at Gudur, valid till
the September, 2001.
1995 Exports to US commenced.
1996 New Unit in Ponneri Started Commercial production.
1997 Turnover crossed Rs.5000 lakhs.
2000 State of art machine shop consisting of CNC machines and special
purpose machines commissioned at the plant at Ponneri.
2001 * State of the art Kunkel Wagner Moulding Line, installed at the Ponneri Unit.
* Exports to Australia commenced.
*QS 9000 Quality certification received for both the units, valid till January,
2006.
2003 * Wholly Owned Subsidiary Nelcast USA Inc., incorporated in USA
* Turnover crossed Rs.10,000 lakhs.
2004 Exports to Europe commenced
2005 *Turnover crossed Rs.20,000 lakhs.
* TS 16949 Quality certification received.
* Third consecutive year of growth in turnover by 50%.
2006 * Turnover crossed Rs.25,000 lakhs.
* Exports cross USD 5 Million.
* Awarded the best vendor award by Tafe limited and outstanding supplier
by Eicher Motors Limited.
2008
- Nelcast bags exports orders of Rs 40 cr from European manufacturer Completes Phase I Expansion Plan at its new unit at Gudur.
2009
- Nelcast Limited has appointed Mr. A. Balasubramanian as Additional Independent Director by the board in the board meeting held on October 31, 2009.
2010
- Nelcast Limited recommended a dividend of Rs. 1.50 per share of Rs. 10.00 paid-up for the financial year 2009-10.
- ISO 14001 & ISO 18001 Accreditation awarded in 2010.
2011
- Nelcast - Board declares Special Silver Jubilee Dividend of Rs. 12/- per equity share of Rs. 10/- each of the Company in view of the 25th Anniversary.
- Nelcast Ltd. Appointed Mr. S. Radhakrishnan Additional Director of the Company.
-Company has splits its Face value of Shares from Rs 10 to Rs 2
2012
- Nelcast Ltd.has been appointed Mr. P. Deepak as Managing Director and Chief Executive Officer of the Company.
-Nelcast Ltd recommended a final dividend of 40% i.e. Rs. 0.80 per share of Rs. 2/- paid up for the financial year 2011-12.
2014
- Board has recommended a Dividend of 35% i.e. Re. 0.70 per share of Rs. 2/-
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