SRM Energy Ltd

(523222)

Incorporated on 3 Sep.85 SRM Energy Ltd. Formerly known as Hitkari Fibres Ltd was promoted by K K Hitkari and Ved Kapoor of the Hitkari group and B M Chaturvedi. The Company is presently engaged in setting up Thermal power project in its wholly ownedsubsidiary. The company undertook a project to set up a plant at Mahad Raigad district Maharashtra with an installed capacity of 1500 tpa for the manufacture of speciality nonwoven fabrics such as blankets carpets upholstery floor coverings automative carpets etc. The preparatory plant for nonwoven fabrics was imported from Hergeth Hollingsworth West Germany. Preneedle loom needle looms and structured needle looms were acquired from Oskar Dilo West Germany. Commercial production commenced in December 1988.In 198990 a MOU was signed with a reputed textile manufacturing company having a large distributor dealer network to market the companys products. The Automotive carpets are being supplied to leading automobile manufacturers such as Maruti Udyog LtdGeneral Motors India LtdPremium Automobiles TELCOfor use in their vehicles. It has set up molding carpet facility at its factory in Mahad. It has already received confirmed orders for molded car carpets from Maruti Udyog and General Motors India. It has also entered into a MoU with a leading European manufacturer and supplier of moulded carpets to automobile industry.The Company installed a dyeing plant Spectrophotometer and Lab dyeing for inhouse development of shades during 2005. During period 200809 SRM Energy Pvt. Ltd. SRM got amalgamated with the Company effective from 1st April 2007. In terms of the Merger Scheme Company allotted 6000000 Equity Shares of Rs 10/ each credited as fully paid up to the shareholders of SRM Energy Pvt. Ltd. on January 122009 in the ratio of 2 Equity Shares of Rs. 10/ each credited fully paid up in the Company for every 1 Equity Shares of Rs. 10/each held in SRM. Accordingly the Company was renamed SRM Energy Limited on account of merger.During FY 201213 the Cuddalore Power Division was hived off to SRM Energy Tamilnadu Private Limited SETPL a wholly owned subsidiary of the Company through the Scheme of Arrangement made effective from April 01 2012. As per the said Scheme the net consideration was satisfied by SETPL to the Company by allotment of 1310000 equity shares of 10 each credited as fully paid up to the Company and payment of the balance amount of 27151/ on October 18 2013..

Share Price: ₹14.36 per share as on 22 Nov, 2024 04:01 PM
Market Capitalisation: ₹13.69Cr as of today
Revenue: ₹0.00Cr as on September 2024 (Q3 24)
Net Profit: ₹0.09Cr as on September 2024 (Q3 24)