IP Rings Ltd

IP Rings Ltd

IP Rings Limited (IPR) was incorporated in January 1991. The Company is engaged in manufacture of engine and transmission components. It has manufacturing plant at Maraimalai Nagar Chennai. Nippon Piston Rings Japan. is the collaborator of the company. The proceeds from this public issue is used to part-finance its project to manufacture piston rings in collaboration with Nippon Piston Rings Japan. The company has an installed capacity to produce 75 lakh piston rings per annum and markets it under the brand name IPL-Powerpack. It products are used in mopeds motorcycles scooters three-wheelers cars commercial vehicles tractors compressors and industrial engines.In 1994-95 the company commissioned its gas nitriding facility and capacity increased from 20 lac to 30 lac rings pa. It also entered into a new collaboration with Nippon Piston Rings Japan to manufacture Nifflex-S three-piece oil rings. Facilities for these rings S G iron rings and cast iron rings was set up which involved a substantial capital outlay. During 1995-96 the company issued 352100 equity shares of Rs 10 each on preferential basis priced at Rs 157 per share to Nippon Piston RingCo. Ltd. Japan. The company has also issued 365100 convertible warrants on preferential basis to the promoter companies on the basis of 1 equity share of Rs 10 each for every warrant to be converted atRs 157 per share.Companys new line for manufacturing two-wheelers rings will be going into production shortly and will start to contribute to the companys sales performance. The company was awarded with prestigious QS 9000 accrediation by TUV India a member of RWTUV Group Germany during 1999-2000 and has secured its frontline position in the O.E by its concentrated effort to strengthen and upgrade its quality manegement.The Company's new project for the manufacture of Transmission Components i.e. Synchrocones Differential Shaft Gears and Pinions was completed in 2004-05; commercial production commenced in March 2005. The Company renewed Four Technical Assistance Agreements with Nippon Piston Ring Co. Ltd. Japan during the year 2007-2008. In 2011-2012 project to manufacture PVD Rings was commericalised.