East India Drums & Barrels Manufacturing Share Price Live

Incorporated on 27 Feb.'81, Vasparr Fischer became public in 1992. Known earlier as Vasparr Engineering, the name was changed to the present one in 1994-95. Promoted by M N Bhaya and others, it was taken over by the present promoters V V Valiya and others in 1987-88. The company is in the business of manufacturing metal and plastic containers with capacities from 50 ltr to 200 ltr. It also manufactures plastic fuel tanks. It has a technical collaboration with Battenfeld Fischer Blasformtechnik and Mauser Werke, both of Germany, for HDPE containers and steel drums respectively. Steel barrels and drums are mainly used for storage and transport of oils, solvents, and chemicals mostly in liquid and semi-solid form. Steel barrels are one of the safest and cheapest method of packing petroleum, lubricants and chemicals. The company has United Nations approval for packing hazardous material. It entered the primary capital market with its rights issue of cumulative convertible preference shares in Oct.'95. As a measure of achieving backward integration and optimum level of cost of production, the company is examining the viability of setting up a new steel-rolling plant. During 2001-02 the company made a reference to BIFR and the application is in the process of revival stage. During 2002-03 the BIFR Authority after scrutiny of the application made by the company announced it as a Sick Industrial Unit. The company is fully geared up to go through the required procedural matters which are yet to commence in the near future. The company's Registration with BIFR Authority is in force.