Sterling Powergensys Ltd Share Price

History of Sterling Powergensys Ltd

Sterling Powergensys Limited was formerly incorporated as Private Limited Company on October 22, 1984 as Sterling Strips Private Limited. The Company converted into a public limited company and the name of the Company was changed to Sterling Powergensys Limited in September, 2014. The primary objective of setting up this engineering company was for manufacturing of oil/gas fired industrial boilers. The key promoters of the Company were S. Venkata Subramanian and Premchand Shah. To garner funds to expand its boiler manufacturing capacity, the Company went in for a public issue of shares in 1994, prior to which it obtained the status of a Public Limited Company, on October 19, 1994 and got listed on the Bombay Stock Exchange. The Company manufactured more than 400 industrial boilers ...and Waste Heat Recovery Boilers in technical collaboration with Siller & Jamart, Germany, covering steam generation capacity and installed the same encompassing all leading business houses in India. The Company also had occasion to export its boilers/boiler components to Saudi Arabia, Dubai, Thailand and Nigeria. Thus the quality of the boilers manufactured by the Company found wide acceptability. At present, the Company is engaged in the business of manufacturing Industrial Boilers and Thermal Power Plants up to 10 MW and Solar Solutions, both in Solar Products and Solar EPC projects. With the onset of the boom in the capital goods industry and new industrial projects, leading to a situation where major manufacturing companies were required to outsource their requirements, the management of the Company took a conscious decision to focus on two key areas viz, Execution of projects on EPC (Engineering, Procurement & Construction) basis and In house API grade Spiral Pipe Manufacturing Activities. During year 2011, Company executed projects on EPC basis in thermal power sector and into the field of solar power as well. As a part of the Revival Scheme, Promoters of the Company were allotted Rs 10 Lakhs Equity shares of Rs 10 each on preferential allotment basis against the obligation of promoters' contribution to Rs 100 Lakhs. By virtue of the promoters contribution, Net Worth worth of the Company became positive. Hence, Hon'ble BIFR vide its order in June, 2012, discharge the Company from the purview of (SICA) in 2011-12. Company entered in the Solar Power Sector, launched during November 2015. In 2018, Company executed projects on EPC basis for solar power sector. It supplied slandered roof top solar solution on stock and sale model. In 2019, the Company provided comprehensive services in the field of Design, Analysis, Manufacturing, Project Execution for which a power plant was commissioned.