Miven Machine Tools Ltd

Miven Machine Tools Ltd (522036)


Key Stats

Day's Price Range
52-Week Price Range
1 Year Return53.97 %

Company Financials

  • Annual
Value in ₹ crore

Peer Comparsion

Rank 73
Rank 73
Rank 74
Dividend Yield
Rank 46
Rank 82
Price To Book Ratio
Rank 63
Debt To Asset
Rank 74

Company Information

Miven Machine Tools Ltdformerly Giddings Lewis India Ltd originally promoted by Mysore Kirloskar in 1985 in technical Collaboration with The Warner and Swasey Company a Subsidiary of Giddings Lewis Inc. USA to manufacture turning machines has completely came into the fold of Foreign partner by buying out the 38 equity stake of Mysore Kirloskars the Indian Promoters. Subsequent to increasing the stake to 76 by foreign promoters the name of the company was changed to Giddings Lewis India Ltd from Kirloskar Waner Swasey in July 23 1999. Latter N A SirurHubli Pvt Ltd has acquired 86 equity stake of the company and the name of the company has also changed to the present one w.e.f July 23 2002.The company came out with a public issue in Nov.86 to set up a machine tool unit in Karnataka to manufacture 62 computer numerically controlled CNC turning machines pa. Due to accumulated losses the companys debtequity ratio was 5.4:1 in Mar.89. To defuse the crisis the company came out with a liberal rights issue in the ratio of 1:1 to raise the equity. The companys clientele includes Bharat Forge Premier Automobiles Escorts Tractors BEML Hindustan Motors Audco I the ordnance factory project heavy vehicle factories etc. The company proposes to diversfy into the manufacture of coordinate measuring machines CMM with Giddings Lewis as a joint partner with a 100 buyback arrangement to sell this product in the global market. The company has developed a new CNC chucker called ORION series it is also developing a cost effective vertical axis turning machine.Company has deputed its engineers to Fadal Engineering Company USA for technical training on vertical machining centre VMC. Company will take up manufacture of these machines in the near future. Company has been looking for a dynamic firm/ Company to represent Companys Sales/Service after Sales activities in the domestic market.
OrganisationMiven Machine Tools Ltd
IndustryCapital Goods-Non Electrical Equipment