Salasar Techno Engineering Ltd Share Price

History of Salasar Techno Engineering Ltd

Salasar Techno Engineering Limited was earlier incorporated as 'Salasar Petrochemicals Private Limited' vide Certificate of Incorporation dated October 24, 2001 in Jaipur, Rajasthan. Thereafter, Company was taken over by Promoters in March, 2005. Further the name of the Company changed from 'Salasar Petrochemicals Private Limited' to 'Salasar Techno Engineering Private Limited' dated June 13, 2006. Subsequently, the status of Company got converted into Public Limited and the name of Company was changed to 'Salasar Techno Engineering Limited' pursuant to a fresh Certificate of Incorporation granted by the RoC dated August 16, 2016. The Company is primarily engaged in the business of Manufacturing and sale of galvanized steel structure including telecom towers, transmission line towers a ...nd solar panels. The Company has three manufacturing units at Jindal Nagar, Hapur District (UP) and Khera Dehat, Hapur District (UP). The Business is divided in two major segments i.e. Steel Structure Segment and Engineering Procurement & Construction Segment. During the financial year ended 31 March 2007, the company started manufacturing/fabrication activities at Unit 1 at Village Parsaun, Dasna,P.O. Jindal Nagr, Distt Hapur-245304, Uttar Pradesh. During the financial year ended 31 March 2008, the company set up second unit situated at Khasra no. 1184-1185, village Khera, Pikhuwa, Ghaziabad-245304, Uttar Pradesh, India. During the financial year ended 31 March 2010, the company initiated expansion of Unit II by acquiring land & building situated at Khasra No. 1183, village Khera, Pikhuwa, Ghaziabad-245304, Uttar Pradesh, India. Salasar Stainless Limited was incorporated as a wholly owned subsidiary of the company in 2011. In 2017, Ganges Concast Industries Limited amalgamated with the Company. The Company further installed and commissioned Galvanizing Plant at its wholly-owned subsidiary Company 'Salasar Stainless Limited' for further expansion in capacity to 50,000 MTPA. In July 2017, the Company came up with a Public Issue of 3,321,000 Equity Shares by raising funds through equity from public aggregating to Rs 35.86 Crore. The Company began operations for transmission lines for track electrification worth Rs. 39.5 Crores in 2018. The Company merged with its wholly owned subsidiary Salasar Stainless Limited effective from January 09, 2019. In 2021, the Company ventured into heavy steel and structure division by building roads and railway over bridges.