Magna Electro Castings Share Price

Magna Electro Castings Ltd was incorporated in 1990. The company was promoted and Managed by N Krishna Samaraj. The company is mainly engaged in manufacturing and selling of Cast Iron Components.In 2001 the company has successfully commissioned its state of the art CAD/CAM Centre for producing tooling.The Company had implemented a Energy Conservation Project in 200102 at a cost of Rs.110 lakhs and was funded by internal accruals and term loans from Corporation Bank. In the area of raw material recycling and production automation the company is planning to make investments to the tune of Rs.150 lakhs and will be financed by means of Internal accruals and Term Loans. This project was put on hold due to decision on implementation of the latest technology and processes.The Company commissioned the Gas project costing Rs 0.41 Crores during 2004. In 2005, it commissioned the Furan Fast Loop Line and the Sand Mixer plants costing Rs 3.78 Crores. It installed one 750 kw Wind Electric Generator costing Rs 3.06 Cr. at Andhiyur Village in Pollachi Taluk. It commissioned one 1650 kw Wind Electric Generator in Ganapathipalayam village, Pollachi Taluk costing Rs 9.70 Crores during August 2005.The e Phase I Expansion Project costing Rs 8.14 Crores for construction of buildings was completed and the required plant and machinery was commissioned during 2007. The Company implemented the Phase I of the expansion project, thereby increasing the capacity from 600 MT to 900 MT per month in 2008.During 2009, the Company commissioned the Sand PreProcessing Plant. During 201112, it installed/commissioned the Automatic Grinding cell which was imported from Italy for fettling operations. It also commissioned the additional factory building measuring about 30,000 Sq.Ft. which will accommodate the machining activities of the Company.In 201213, it commissioned the new Hunter Molding Machine. It augmented Diesel Power Generating capacity, with the installation of two 1500 KVA generators. Capable of parallel operation through an automatically computer controlled synchronized panel, the sets can provide 3000 KVA power.During 201415, it installed new Energy efficient Melting Induction Furnace, replacing the old and worn out furnaces and in 201516, further installed the Furan Thermal Reclamation Sand Plant costing Rs 2 Crores for reclamation of sand and also installed the Furan No Bake Continuous Mixer for achieving consistency in casting dimension and 3D Printing Technology for shorter development time and reduction in sampling time.During 201617, it installed the Furan core preheating oven in its production line costing Rs 0.11 Crores. The Core Shop was upgraded during 201718 utilizing lndustry 4.0 Techinques and enabled process. The Sample coin conveying system was commissioned during 201819. The Company installed Green Sand Reclamation Plant during 202021. It further installed a new Fume Extraction System in the furnaces which will enable the Company to use alternative raw materials at a lower cost as well as keeping the environment free of pollution. It also installed certain balancing equipments to enhance the manufacturing capabilities.During 202122, it installed new 1 Ton Capacity induction melting furnace to enhance its existing furnace capacity. During 202223, it installed some balancing equipments/machinery which will enhance the production activities of the Company. Civil works were undertaken to increase the floor space of the finishing division and machine shop. Roads were also laid/ relaid to facilitate easy of movement of vehicles inside the Plant.