In the year 2004-2005, the company went into the manufacture of mild steel clips used in spring assemblies as a separate product since the clips available in the market at that time were of inferior quality. Initially a test market was done to assess the future requirement and because of the response, it got for the product, a full fledged manufacture of clips was taken up with the existing facility available in the company. The turnover at the beginning which was at Rs.6 Lakhs – Rs.7 Lakhs per year has increased to Rs.70 Lakhs approximately.
The future for this segment is quite encouraging that almost all the branches of the company are able to successfully market this product.
Present & Future
Having recorded a turnover of Rs.40 crores during the financial year 2010-2011, the company has planned to maintain this growth. For this, the emphases is on meeting customer requirement in all segments of commercial and passenger vehicles especially in ultra light commercial vehicles and also multi axle vehicle where the markets growth looks brighter. To achieve this, the company has gone in for modification in roll pass designs to roll ultra thin sections of 50 x 6, 50 x 10, 45 x 6, and 45 x 5. Test rolling of 50 x 6 and 50 x 10 were carried on 13.11.2010, whereas 45 x 6, and 45 x 5 were carried out on 14.03.2011. Regular production is being taken up every month as per the requirement of the market. This step of rolling these sections has made the company self sufficient to meet the market requirement of ultra light vehicles.
In the heat treatment section of the springs division conveyor hardening furnace is being modified to take up heat treatment of heavy spring leaves which are used in multi axle vehicles. With this modification, the company will be able to cater to this segment of the vehicles and at the same time, will be able to improve its production and productivity. In addition to this, a tempering furnace of higher capacity will be in place to improve the production by this year end.
The company had rewarded its shareholders with bonus shares of 1 for 2 in 1991 and again 1 for 1 in 1993 and also paid a dividend of 20% for the financial year 2010-2011 and again 10% interim dividend for the financial year 2011-2012.
PLATINUM JUBILEE 2018
This year our Company entered into a landmark 75th year of operations on the 27th January 2018. On this occasion, we are immensely pleased and privileged to have the support of our esteemed customers, suppliers and employees of the Company.
Our Company has come a long way from being a body builders of vehicles to pioneer in manufacture of springs and leaves for springs and spring steel in the country.
On this occasion a new platinum jubilee logo was designed and affixed prominently on all our promotional products of the Company. Additionally a special platinum jubilee hologram was created using the logo, and will be affixed to all our products during the year.
We are now enjoying the confidence of more than 1550 dealers over six states, have been getting goods and services from over 200 suppliers and service providers including individuals and large corporates and are providing employment directly and in-directly to a large number of people.
It has been our pleasure having done business all these years, encompassing the vision and direction given to us by our founder Sri V.S. Kudva