Garg Furnace Share Price

Incorporated in Dec.73 as a private limited company, Garg Furnace Limited was converted into a public limited company in Feb.76. Promoted by Dharam Pal Garg and Jagdish Chand Garg, the Company manufacture and deal into Iron and Steel products such as M.S. Round, Ingot, Wire Rod etc. Its manufacturing plants are situated at Ludhiana, in Punjab. The company commenced operations in 1974 with a 1tonne capacity arc furnace to manufacture steel casting. In 1981, the arc furnace was scrapped, as its technology was not so successful and during the same year, it installed a 0.5metric tonne capacity induction melting furnace. In 1988, it added a rolling mill for the manufacture of MS hot rolled rounds. The melting capacity was increased in the years 1989, 1991, 1994 and again in Mar.93. In 1995, the company completed expansioncumforward integration plan to put up a new induction melting furnace to enhance its ingots manufacturing capacity from 48,000 tpa to 72,000 tpa and to also to set up a wire rod mill with an installed capacity of 30,000 tpa. It tapped the capital market in Apr.95 to partfinance the project. The 66KV Sub Station Project implemented was made operational during 201112.The Company made a strategic shift by focusing on engineering highperformance steel solutions, especially in specialized and fastgrowing enduse segments such as automotive, infrastructure, and precision manufacturing. The three core focus areas in 202425 are ChemistryLed Product Innovation to meet specific strength, machinability, and consistency requirements for industrial applications. Secondly, launching highstrength steel and selfdrilling screws aimed at auto, engineering, and infrastructure sectors and acquisition of 51% stake in Vaneera Industries Ltd, which bought advanced alloy steel capabilities to its ecosystem.