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Quantum Digital Vision > Company History > Packaging > Company History of Quantum Digital Vision - BSE: 530281, NSE: N.A

Quantum Digital Vision

BSE: 530281|ISIN: INE373C01019|SECTOR: Packaging
Mar 22, 15:40
Quantum Digital Vision is not listed on NSE
Company History - Quantum Digital Vision
Quantum Industries (India) Limited was originally incorporated under
 the name Ceeta Springs & Steels (P) Limited as a private limited
 company on April 21, 1980, with its Registered Office at Madras, with
 the objective of manufacturing laminated leaf springs.  The Company
 commenced commercial production in 1984.  On August 29, 1983, the
 Company became a deemed public limited company under the provisions
 of Section 43 A (1) of the Companies Act, 1956 and was later
 converted into a public limited
 company on February 2, 1986.  In 1994, Ceeta Springs & Steels Ltd.
 was taken over by Mr. Himalay Dassani.  Due to this takeover and the
 consequent change in management, the name of the Company was changed
 from Ceeta Springs & Steels Ltd. to Quantum Industries (India) Ltd. A
 fresh Certificate of Incorporation to this effect was issued by the
 Registrar of Companies, Tamil Nadu at Madras, dated March 3, 1994.
 Due to the recession in the automobile industry, the sales revenue
 and the profits of the Company were depressed in the last few years. 
 With the automobile industry now having come out of the recession the
 company is now doing well.
 The Company has capitalised part of its free reserves to the extent
 of Rs.44 lacs by way of a bonus issue.  The bonus shares were issued
 on August 22, 1994 in the ratio of 11 shares for every 4 shares held.
  The Company had revalued its assets to the extent of Rs. 179.66 lacs
 reflect the true value of its assets.  The surplus of Rs.151.41 lacs
 was transfered to the Revaluation Reserve Account in April 1994. 
 Subsequently the Company capitalised Rs.11O lacs out of the
 revaluation reserves in August 1994 by issuing bonus shares in the
 ratio of 11
 shares for every 6 shares held.  The revaluation was carried out by
 Mr L V Sudheer a Government approved valuer.
 The Company currently manufactures leaf springs for the automotive
 sector, at its Works situated at 43, Attipattu Village, Ponneri
 Taluk, Chengalpet District, Tamil Nadu. The unit has an installed
 capacity of 2400 tones per annum of leaf springs.  The automobile
 leaf springs are marketed under the brand name CEETA carrying ISI
 Licence issued by
 the Bureau of Indian Standards, Southern Region.  The Company s
 planning to install an additional furnace to improve the capacity
 utilisation and hence profitability of the Company.  After the
 installation of the unit in 1984, there has been no major remodelling
 of the unit till date.
 The funds raised now will not be utilised for installing the
 additional furnace/increasing the installed capacity of the leaf
 spring unit.
 Recently, the promoters have decided to add one more furnace to
 achieve better capacity utilisation.  Presently the capacity of the
 plant is 2400 TPA based on the capacity of the furnace.  With the
 addition of the new furnace, the capacity of the plant will reach
 3000 TPA.  Presently the unit has achieved more than 100% capacity
 utilisation in the past 3 months due to better utilisation of the
 furnace and other sections in the plant.  The reason why the Company
 has not been able to achieve 100% capacity utilisation in the earlier
 years was mainly because the furnace did not match the capacity of the
 other sections.
Source : Dion Global Solutions Limited
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