Premier Ltd

(PREMIER)

Incorporated in 1944 Premier Ltd. formerly Premier Automobiles Ltd manufactures passenger cars trucks buses etc. It operates in only one business segment i.e Engineering. The Engineering segment consists of Manufacture of CNC Machines and large mechanical components for the wind energy and infrastructure sectors and professional and engineering services related thereto. PALs Premier Padmini enjoyed a commanding position along with Hindustan Motors till 1984 before the launch of the Maruti 800. In Jan.86 PAL started producing the 118 NE. PAL plans to rejuvenate itself through modernisation new project launches and a joint venture with Automobiles Peugeot France.It has also tied up with Fiat Italy. As the present Padmini model is a product of Fiat the latter will help upgrade the model. But the thrust will be on another model to be launched named Uno with technology from Fiat Italy. Fiat which considers India a key market is also interested in strengthening its longterm relationship with PAL. The 999 cc Uno has roll out by the beginning of 1996. The company has entered into an arrangement with Ind Auto Ltd IAL for assembly of Premier cars at Kurla.Its machine tool division has obtained the ISO 9001 certification. Bureau Veritas Quality International BVQI awarded MTD ISO 9001 for next three years from 24th December 1999. During 2002 the company signed a long term contract with Telco for painting the bodies. The companys real estate business witnessed a slight growth sinceit has entered into a MOU with a leading developer for development of its residential land at Dombivli at a consideration of Rs.15 crores.In 200607 the Mission Hundred of producing 100 Gear machines was completed. The capacity of engine block machining line for Tata Motors Ltd. TML was enhanced to supply 350 Nos. per day as against the earlier 100 Nos. per day. The Company installed stateofart BodyinWhite facilities and has commenced building bodies of Roadstar from imported CKDs. A new assembly line having a capacity of 12000 vehicles per year was made operational during the year. A new engine assembly line was setup to produce Bharat Stage III engines. The Company commenced civil construction for a new paint shop. It developed a special PianoMiller during the year to machine bogie components for railways and a high productivity special purpose machine for machining connecting rods for automobiles. It also developed VM40 machine which is a small size vertical machining centre required in many small and medium scale engineering industries.During 200708 the Company invested Rs.31 Crores to expand and modernize Machine Tool manufacturing and assembly capacities. A new high bay shed of 100000 sq. ft. area was erected and modern plant and equipment aggregating to Rs.40 Crores was installed during the year.During 200809 the Company developed new products such as 4 Axis CNC Gear Shaving Machine 5 Axis CNC Gear Mobbing Machine with Electronic Gear Box of 250 mm diameter CNC Vertical Turning Lathe with a 2 m diameter turning capacity. It established vehicle assembly capacity including the body shop paint shop part vehicle assembly line engine and gear box assembly which presently had 15000 vehicle capacity per annum. In 200910 the 1489cc turbo diesel engine was adopted into the RiO and related developments. The Company commenced supplies to ReGen Powertech for their 1.5 MW wind turbine in 201011. A Gear Box Housing KMP 450 for wind mills Six types of new components requiring precision fabrication machining painting for windmills were developed in 2011. A new RiO assembly line was opened with an installed capacity to produce 30000 units per annum. Also a RiO EuroIV compliant petrol version was developed. In 201112 products developed comprised of CNC Vertical Machining Centre suitable for heavy duty applications CNC Heavy Duty Horizontal Machining Centre with quill and W axis facility CNC Gear Hobbing Machines of 630 mm and 900 mm dia. developed with Electronic Gear Box to increase productivity and CNC Heavy Duty Gear Shaper suitable for internal gear shaping. The Company introduced BS IV petrol version in the market during the year.In 201516 the Company developed CNC Gear Shaping Machine : Model PSC 250 : Machine developed with new CNC control. Machine developed with more NC axes.

Share Price: ₹3.75 per share as on 02 Dec, 2024 04:01 PM
Market Capitalisation: ₹11.39Cr as of today
Revenue: ₹0.00Cr as on September 2024 (Q3 24)
Net Profit: ₹-1.96Cr as on September 2024 (Q3 24)
Listing date: 03 Nov, 1994
Chairperson Name: Maitreya V Doshi