Indo Gulf Industries Ltd Share Price

(506945)

Indo Gulf Industries is a joint venture, incorporated in 1981 and formerly known as Indo Gulf Explosives, between UPSIDC, and three entrepreneurs – Dr S K Garg, B K Agarwal, and M K Garg. The company manufactures industrial explosives and accessories for opencast mines, mostly coal mines, such as slurry mixed explosives, detonator fuses, cast boosters and more, with manufacturing facilities in Jhansi, Korba, Singrauli, Talcher, and Ib Valley. In 1995, the company issued a fully convertible debenture to part-finance the setup of a 2500TDC (expandable to 3500TDC) sugar plant at Mizapur, Gonda district, to produce white crystalline sugar – along with the co-generation of 6 MW of power – and the sale of molasses to distilleries producing potable and industrial alcohol. Last year, the company commissioned an emulsion explosives manufacturing plant in Korba, and is ready to expand operations by adding a bulk loading unit as well as a new packaged explosive unit in Bendrachuan, Madya Pradesh to supply cartridge explosives and accessories to Coal India Ltd.