Garg Furnace Ltd (530615)

Incorporated in Dec.73 as a private limited company Garg Furnace was converted into a public limited company in Feb.76. Promoted by Dharam Pal Garg and Jagdish Chand Garg Garg Furnace manufactures alloy steel. Its manufacturing facilities are situated at Ludhiana Punjab.The company commenced operations in 1974 with a 1tonne capacity arc furnace to manufacture steel casting. In 1981 the arc furnace was scrapped as its technology was not so successful and during the same year it installed a 0.5metric tonne capacity induction melting furnace. In 1988 it added a rolling mill for the manufacture of MS hot rolled rounds. The melting capacity was increased in the years 1989 1991 1994 and again in Mar.93. In 1995 the company completed expansioncumforward integration plan to put up a new induction melting furnace to enhance its ingots manufacturing capacity from 48000 tpa to 72000 tpa and to also to set up a wire rod mill with an installed capacity of 30000 tpa. It tapped the capital market in Apr.95 to partfinance the project. The companys products are being supplied to Indian Railways thermal power stations cement plants sugar mills and auto bicycle and sewing machine parts manufacturers.

Garg Furnace Ltd Share Price: ₹41.70 per share as on 23 Mar, 2023 03:27 PM
Garg Furnace Ltd Market Capitalisation: ₹27.83Cr as of today
Garg Furnace Ltd Listing date: 07 Apr, 1995
Garg Furnace Ltd Chairperson Name: Devinder Garg