KR Rail Enginerring Ltd.

The Company was incorporated as a Private Limited company on 30.8.83
 and was subsequently converted into Public Limited w.e.f. 7.7.93. The
 company at present is mainly engaged in  export of hand made carpets
 and druggets. On its incorporation on 30.8.83, the company took over
 the running business of M/s. Gupta Carpets International which was a
 partnership firm engaged in export of hand made carpets and druggets
 since 1977. Since one of the main objects of the company was to take
 over the business of previous firm 
 M/s.Gupta Carpets International, its assets and liabilities were
 acquired at book value for a net consideration of Rs.33.42 lacs which
 was paid by the company in cash to the  retiring partner. No
 revaluation of Asset was done at the time of acquisition or before or
 after the acquisition.  In February 1994, it made its maiden public
 issue of 25,00,000 equity shares of Rs. 10/-each for cash at par
 aggregating to Rs.250 lacs. The issue was over-subscribed by 2.5
 times and the shares at present are listed at Delhi, Bombay and
 Ludhiana Stock Exchanges. After the Issue, the company expanded its
 existing carpet export activity by installing 300 additional looms at
 Amritsar and Agra in April'94. In the year 1995-96 the company
 diversified its activities by starting trading and export of
 Readymade Garments and Hoisery.
 
 PRESENT BUSINESS OF THE COMPANY
 
 The company at present is mainly engaged in export of hand made/
 knotted and tufted carpets, druggets, Readymade Garment Hoisery and
 Bath Rugs. It also deals in wool, yarn and carpets in the domestic
 markets. At present it has installed 355 looms. The looms are located
 in the villages in the house of weavers. The factory premises at
 Amritsar is used as a packaging unit only. However, major part of the
 sale is in respect of production carried on contract basis 
 by outside contractors. Readymade Garments/hoisery is also procured
 from contractors and outside suppliers. The Company also has as
 showroom cum godown in Safdarjung Enclave, New Delhi.
 
 The major steps taken by the company for setting up the proposed
 project are :-
 
 i). Selection and identification of imported plant and machinery has
 been made. Ordering for machinery worth Rs.88.30 lacs has been made
 and payment of advance of Rs. 
 12.81 lacs to towards the same has been made as on 31/01/96
 
 ii) Construction of building has started and expenditure of Rs.21.36
 lacs has been made till 31/01/96
 
 iii) Share application money of Rs.62.80 lacs has been raised from
 the promoters.
 
 2012
 -Company has changed its name from Gupta Carpets International Ltd.
 to Axis Rail India Ltd.
 
 2018
 -Company name has changed to K&R Rail Engineering Ltd. from Axis Rail
 India Ltd.
 
 2023
 -The company has signed the MOU with Muktinath Darshan Private Ltd.
 for execution of the Cable Car Project in Gandaki province of Nepal
 valued at 500 million US Dollar.