Company History - Suryodaya Plastics
Suryodaya Plastics Ltd.(SPL), promoted by Shri.Keshav Bhupal, was
incorporated on January 11, 1988 as a Private Ltd. company in Andhra
Pradesh. The company was changed to a Public Ltd. company and the
State of incorporation was changed to Tamil Nadu on Feb. 8, 1990. In
1989-90, SPL Set up facilities for manufacture of custom moulded
components like TV Cabinets & back covers. Refrigerator Crispirators
& chill trays. Computer Keyboard housings. etc, with an installed
capacity of 807 tonnes per annum (tpa). The Project, costing Rs.250
lakhs, was part financed by promoters' equity of Rs.53 lakhs, direct
subscription to equity from lDBI Rs.10 lakhs, term loans of Rs.9O
lakhs, Rs.5O lakhs and Rs.27 lakhs, from SIPCOT,TIIC & Indian
Overseas Bank, respectively and State subsidy of Rs.20 lakhs.
SPL has multipurpose facilities for manufacture of a variety of
injection moulded products by using the right type of moulds. Though
the Company can independently manufacture products of its own choice
like crates, furniture, household articles, etc. by acquiring the
appropriate moulds and do direct marketing, it has decided to
specialize in the custom-moulding business where products are
especially designed and made for specific industrial customers.
Custom moulding normally requires less capital investments moulds are
funded by the customer and requires less working capital and marketing
infrastructure. SPL is concentrating on the manufacture of casings and
related plastic parts for the consumer durable industry in general and
the T.V. industry in particular. While TV related components like
Cabinets. Back Covers, etc., form the major product-mix, SPL also
makes components for Refrigerators (like Crispirators. Chill Trays,
etc), Audios, Coolers, Speakers and Textile Machinery.
SPL now proposes to expand its capacity from 807 tpa to 2383 tpa by
installing additional plastic injection moulding machines at its
existing premises at Gummidipoondi, Tamil Nadu. The total fund
requirement estimated at Rs 865 lakhs (including Rs 173 lakhs for
augumenting long term sources for working capital) is proposed to be
financed by way of additional share capital to be brought in by
promoters/associates - Rs.218 lakhs (including BPL Group's
participation Rs.50 Lakhs); public issue of Rs.397 lakhs and foreign
currency term loan from lDBI equivalent to Rs.250 lakhs. IDBI
sanctioned foreign currency loan of US$7,93,150, equivalent to Rs.250
lakh, in September 1994.
2008
-Suryodaya Plastics has designated E-mail ID for Investors
Complaints: suryodayaplastics@yahoo.in
