Innoventive Industries (IIL) 100% subsidiary - Arihant Steel and Metal Wires (ASMWPL) has decided to close down its current manufacturing operations permanently with effect from August 01, 2011. The company has cited low productivity, declining production, non-lucrative business and weak future outlook as the broad reasons for discontinuing manufacturing operations. Further, ASMWPL may consider selling / disposing off its fixed assets after following required procedure.
ASMWPL had reported net turnover for last 3 financial years - the turnover for FY 2010-11 was Rs 3.36 crore, for FY 2009-10 it was Rs 5.99 crore and for FY 2008-09 the turnover was Rs 8.39 crore. IIL's consolidated net turnover for FY 2010-11 stood at Rs 703.58 crore and ASMWPL contributes less than 0.50% of it.
Innoventive Industries was incorporated for manufacturing of domestic appliances. It is a multiproduct company catering to applications in diverse sectors such as automobile, boiler and heat exchangers, energy, oil and general engineering. It specializes in processing various types of steel, faster development cycles, flexible production systems, effective supply chain management for efficient delivery and capability to make tubular transformations.
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 123.85 |
| Tube Investments | 2885.00 |
| Bosch | 37800.45 |
| UNO Minda | 1131.00 |
| CIE Automotive India | 488.20 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: