Simplex Castings Ltd Share Price

History of Simplex Castings Ltd

Simplex Castings Ltd is one of the leading Indian manufacturers of different engineering products, castings and equipment's for all core industrial sectors. With more than 50 years of engineering experience, technical know-how coupled with modern design, manufacturing & NDT facilities. Simplex Group was established in 1941 by a visionary entrepreneur Shri B M Shah. The Company was founded in 1970 as a Partnership Firm and further registered as a Private Limited Company on January 30, 1980 and was converted into a Public Limited Company in March, 1993. The Company is engaged in manufacturing of Heavy Engineering Castings & fabricated items. Simplex Castings manufactures various grades in cast, machined & assembled condition for all industrial sectors like Steel Plants, Power Plants (Ther ...mal, Hydro, Wind), Railways, Mines, Cement, Chemical, Oil, Defence, Sugar, Earth Moving , Machine Tools, Heavy Valves & Pumps Castings, Ship Building etc. It possess well equipped manufacturing facilities such as Cast Iron Foundry, Steel & Alloy Foundry, Heavy Engineering & Fabrication Plant for equipment building, structural fabrication, assembly facility, each plant is associated with modern machining facilities and a central machine shop with several machine tools including large number of CNCs, EPC Division to take up turnKey projects, design wing with modern computer setup and aided tools etc. The main products of Company are equipments for Iron & Steel sector, Railways, Pumps & Valves, Power sector, Engineering sector etc. It has two manufacturing units situated in the State of Chhatisgarh in the city of Raipur & Bhilai. The products of the company go mainly to steel plants, power plants, mining and cement plants, Defence and the Railways. Main products go to blast furnaces and coke oven batteries. The company has technical collaborations with a number of companies for its products. Some of the firms are Nippon Steel Corporation, Japan; Ikio Iron Works, Japan; Dango & Dienenthal, Germany; China Metallurgical, China; Schalker, Germany; etc. In 1993 a public issue was made to finance the modernisation of Urla Unit. During 1999-2000, the company developed bi-metallic rolls being used in Thermal Power Plant. The company for the first time in India developed Truck Frame for Deisel Locomotive Works as per drawing and design of G.M. Motors USA and with technical expertise from one of the leaders in Rail and Road Castings M/s Atchison Casting Corp. USA. The company is engaged in developing different casting for Steel Plants and also Valve and Cone Castings for supplying the same to Valve and Pump manufacturers. During 2007-08, the Company at Bhilai Unit installed CNC machine, in Central India to undertake precision machining required for cast components. It installed smaller CNC machines, thereby strengthening their lead in offering machined components. It purchased a plate bending machine and diesel generator set of 600 KV. Whereas, in Urla Unit, the Green Sand Plant for manufacturing Casnub bogies and other kinds of bogies was installed. The Company purchased a new spectrometer replacing the old one to verify chemical composition of different product. It installed different machineries like compressor, sand muller mixer, welding machines etc. In FY 2008-09, in the Bhilai Unit, the Company grew their fabrication business by constructing Shed for fabrication activities and also installed certain machineries for complete machining, boring, drilling, cutting purposes ie, for doing in- house fabrication activities. Also, it installed Piano-Miller, Vertical Milling Machine, EOT crane for day to day operation resulting an improvement in performance and productivity. In Urla Unit, 5MT Arc Furnance for melting steel / raw materials, Annealing Furnance for heat treatment of Castings was installed; the e Piano-Miller Machine & Radial Drill Machine also was installed. In addition to this, the Company imported a CNC Piano-Miller from Vision Wide, Taiwan for complete machining mainly for Railway Truck Frames, Coco Bogies on a single platform. During FY 2009-10, the Company installed major facilities in the Bhilai Unit following Grid Blasting Machine, 50/10 T-26 MTR SPAN-EOT Crane, 8' Lathe Machine, Pipe Bending Machine, SAW Welding Machine and Plano Miller-CHA 8035. Similarly, the major developments in Urla followed CNC Double Col Plano Miller. The Company incorporated a Wholly owned Subsidiary Company named Simplex Castings International Pte Ltd in Singapore on 12th September, 2018. Secondly, the Company got into a Business Transfer Agreement with Texmaco Rail and Engineering Limited on 26th April,2019 and sold their Steel Castings Foundry at Urla, in Chhattisgarh to Texmaco Rail and Engineering Limited on a Slump Sale as a going concern for consideration of Rs. 87.50 Crores.