Excel Castronics has received its board's approval for expansion of business of the company in food industry. The expansion will focus on two commodities, Cashew Nuts and Cardamom (also forming part of agro commodities). The estimated cost of the proposed expansion will be Rs 18 to 20 crore, which will be meet by borrowed funds or infusion of equity /preference shares or combination of both. The aforesaid expansion will be executed subject to compliance & approvals required under various laws. The board has given approval at its meeting held on 29th December, 2015 for same.
Excel Castronics (Formerly known as Ahmedabad Gases) was incorporated as a private limited company with the Registrar of Companies, Gujarat, at Ahmedabad. The company was later converted into a public limited company vide a Special Resolution passed by the company and fresh certificate was obtained. After incorporation, the company started trading activities in industrial gases from August, 1992.The company commenced the production of gases from September 1993 on installation of machinery.
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