Artson Ltd Share Price

History of Artson Ltd

Artson Engineering Limited (AEL) as a project engineering company has commissioned, on turn-key basis, several fuel storage and handling facility systems. The Company is operating into supply of equipments, steel structure and site services for mechanical works. The Company as a part of engineering, offers multi-disciplinary design and construction services in the mechanical, civil, electrical and instrumentation fields. It offers turnkey services in petroleum storage and handling systems, plant utilities, diesel power houses, CPP, energy conservation, waste-heat recovery and noise pollution control systems. The company promoted by a group of technocrat entrepreneurs was incorporated in Sep.'78. The company went public in 1986. Further in Oct 1994 the company came out with an rights ...issue to part finance its expansion and diversification. In 1992, it diversified into finned tubes and heat exchangers. The company undertakes turnkey contracts to set up petroleum storage installations, fuel handling systems, port-based cryogenic facilities and bottling plants for LPG besides the manufacture of machinery for filling and testing LPG cylinders. The company signed a MoU with Chicago Bridge and Roof Constructions, UK, to jointly undertake major projects in India. It also signed agreements with Verwater, Netherlands, and Baker Tank Company, US, to represent them and repair tanks. During 2011-12, the Company commissioned project at Bathinda entailing construction of 64 nos. of Intermediate and Product Storage Tanks; another project at Bathinda involving supply, fabrication and erection of structural Crossover Platform in Tank Farm area, and project entailing mechanical works and piping of 8 well pads at Bhagyam Oil-fields at Barmer, Rajasthan. The Nashik factory completed manufacturing high-pressure and complex equipment for installation at a steel plant in Rourkela; completed project execution activities at Jamshedpur sites as well. During 2012-13, 4 projects with estimated aggregate value of Rs 90 Crore were planned for execution including projects at Cuddalore (Tamil Nadu), Jodhpur (Rajasthan), Dahej (Gujarat) and a project in UAE. Besides, project activities at Haldia (West Bengal), Jamshedpur (Jharkhand), Kalinganagar (Orissa) and Uran (Maharashtra) were carried out through the year. The Company completed mechanical works pertaining to the construction of 21 tanks at Liquid Tank Terminal at Haldia; construction of Export Oil Storage tank at Barmer was commissioned; structural fabrication activities at Gamharia, Jamshedpur were carried out; completed site demobilisation activities at Dahej, Gujrat, KPO, Odisha and Cuddalore, Tamil Nadu; started new manufacturing facility at Umred, Nagpur wherein medium to heavy structural fabrication works are undertaken during 2013-14. During 2014-15, the Company restarted its operations in UAE and commenced the execution of the works entailing fabrication, erection and painting of tanks and pipe rack along with exports of fabricated items and fabrication and storage of chemical tanks at Sharjah, UAE. It completed fabrication and supply of structurals at the Company's manufacturing facility at Nagpur. The Company commissioned Tank Construction project in Gujarat; increased Structural Fabrication capacity by enhancing the facility at Nagpur in Q2 FY15-16 and by starting operations at Asanbani, near Jamshedpur and at Ranchi in Q3 of FY 15-16. During 2016-17, Company completed major projects like Revamping of Coil Box during Shutdown and erection of new Dust Extraction System at Jamshedpur; Fabrication and Erection of Vessel for storage of Sulphuric acid at Dahej; Construction of 31 Chemical Storage tanks, process piping and associated equipment at UAE. During 2017-18, the Company achieved major progress related to construction of tank farm and civil/ mechanical work for connector pipelines project at domestic airport, Mumbai. Completed construction of 1 tank out of 4 nos. of large diameter (79 Mtrs.) tanks for storage of crude oil at IOCL. During 2018-19, Company completed the tankage work for Mumbai Aviation Fuel Farm Facility Private Limited (MAFFFL). In addition to this, fabrication of 3 tanks out of 4 nos. of large diameter (79 Mtrs.) tanks for storage of crude oil at IOCL, Paradeep are completed, completed contract related to large diameter intake pipeline package at APGENCO, Krishnapatnam; in 2019-20, it completed construction of 3 tanks for storage of Aviation Turbine Fuel (ATF) for GMR Hyderabad airport, the Nashik unit of Company completed delivery of 3 out of 6 sets of Air storage vessels to Tata Projects Limited for their prestigious ISRO project; in 2020-21 completed construction of tanks at BPCL, Haveli, Pune project and achieved over 85 % completion of tankage project for IOCL at Dhumad, Gujarat; completed automated warehouse project for ITC at Kapurthala, Punjab, Crude oil storage tanks project at IOCL Paradip, Odisha and Aluminium Dross project for Runaya resource at Jharsuguda, Odisha. During 2021-22, the Company commissioned construction of tanks at IOCL Dumad tankage project, Gujarat, achieved over 64% completion in IOCL Paradip-2 project, Odisha, achieved over 95% completion in NFC Kota piping project, Rajasthan and achieved over 35% completion in ONGC Kakinada tankage project, Andhra Pradesh. The Nashik unit of Company completed fluorination reactor for Convergence Chemical Private Limited (A Piramal Group Company) having Exotic material of construction; Completed supply of inner Oxygen Cryogenic vessels to IOCL Nashik during Second Covid wave; and Completed 7400 Sq. Mtr. of explosion cladding in the financial year. In 2024, Company established a new manufacturing unit in Parli near Mumbai. It completed he works for Paradeep Phosphates Limited (PPL) (earlier Zuari Agro Chemicals Limited) at Goa, which was resumed after a suspension. The Nashik unit manufactured and delivered process plant equipment cumulatively weighing more than 1500 tonnes of varied material of construction including carbon steel, stainless steel, exotic steels like hastelloy, duplex, super duplex and Inconel. A total of approx. 5000 MT of steel structures were fabricated from Nashik Unit for clients including Tata Project Limited for their Naomundi project and BHEL for Patratu project. The Company's Parli Unit commenced its operations during February / March 2024 and delivered about 250 MT fabricated steel structures. During the year 2024-25, Company completed several key projects, including Construction of fuel storage tanks and associated works for GMR Hyderabad International Airport Limited; and the trail gas recovery project for PPL-GOA. Additionally, two out of three large-diameter intermediate storage tanks were completed and commissioned at IOCL's Paradip Refinery, with the third (and the largest) tank Hydrotested and close to commissioning. The manufacturing unit at Nashik expanded its range of metallurgies with fabrication of its first Titanium equipment; enhanced quality assurance by conducting helium leak detection on a critical pressure vessel and introduced ultrasonic testing technology as an alternative to RT; and processed over 1,860 MT of carbon steel material, setting a new benchmark for the Unit in terms of expanded capacity and expertise. The Parli Unit commenced commercial operations in March 2024 by delivering 4,200 MT of fabricated steel structures. The Company completed the Cruising Speed Trial (CST) and Full Mission Trial (FMT) of a critical naval vessel, Frigate 17A destroyer, at GRSE. Additionally, the Company has commenced work on its maiden direct shipbuilding order' for a Floating Dry Dock- a rare feat in India in FY 2025.