Solid Carbide Tools Ltd. వార్షిక వృద్ధి వివరాలు ఆధారంగా కంపెనీ చరిత్ర

The Company was incorporated as Solid Carbide Tools Pvt. Ltd. on 21st Aug., 1990, with Registrars of Companies, Maharashtra at Bombay. It was converted into a Public Limited Company on 18th Feb. 1993 in the name of Solid Carbide Tools Limited. SCTL started its operations as a 100% export orientated unit EOU for manufacturing of industrial rotary cutting tools, circuit board router and circuit board drills with capacity of 5,04,000 nos. units p.a. at Thane Belapur Road, New Bombay. From 1993-94 onwards, SCTL has started catering to the needs of the domestic market also. The existing unit is still 100% EOU whereas the proposed units i.e. Copper Extrusion and Continuous Casting plants will cater to the domestic demand. The Company has not faced or facing any labour problems and there was no closure in the Company due to such reasons.

The technical know-how for the manufacturing process has been provided by Quality Carbide Tools Corporation, USA. which has been manufacturing rotary carbide tools for industrial use. SCTL has signed a MOU with their collaborators on 28th January, 1993, valid for 5 years ending 1998, and subject to renewal thereafter.

To part finance the project the Company made a Public Issue of 21.10 lacs share of Rs.10/- each at par aggregating to Rs.211 Lacs in October, 1993. The Public Issue was oversubscribed by 15.57 times. The project of the Company has earned profits from its first year of operation.