Prime Industries Share Price

Incorporated in Oct.'92 as Prime Proteins, Prime Industries was promoted by R K Singhania, M L Goyal and Harjeet Singh Aurora. In 1995, the company acquired the present name. The company is engaged in the manufacture and marketing of vanaspati with an installed capacity of 50 tpd. Vanaspati is a blend of refined and hydrogenated edible oil and is an important and popular cooking medium. It supplements and provides fat in normal diet. It has also started manufacturing bakery quality vanaspati and the product has been well-accepted in the market. The company came out with a public issue in Dec.'93 to part-finance the project for the manufacture of vanaspati. The company's oxygen plant commenced production in Sep.'95. Prime Industries plans to set up a dewaxing unit. Various oils like sunflower oil, etc, shall be processed in this unit to produce superior-quality refined oil. This unit was expected to start production by Mar.'96. In 1995, the company expanded by setting up a separate physical refinery with an estimated cost of Rs 207 lac with ultra-modern equipment by installing continuous deacidifier-cum-deodoriser. The company plans to integrate backward and diversify its activities. It is proposed to put up a complete integrated textile complex consisting of cotton ginning plant, oilseed processing plant, spinning plant, knitting plant and dyeing plant. The company has received a letter of intent to manufacture and bottle Indian-made foreign liquor. It is taking steps to implement this project.