Innoventive Industries gains on receiving patent for ‘Cold Pilgering’ technology

Innoventive Industries Ltd. | Auto Ancillary | Automobiles | BSE: 533402 | NSE: INNOIND

11 Jul 2012 Evaluate

Innoventive Industries is currently trading at Rs. 118.45, up by 1.80 points or 1.54% from its previous closing of Rs. 116.65 on the BSE.

The scrip opened at Rs. 117.80 and has touched a high and low of Rs. 118.45 and Rs. 117.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 124.50 on 04-May-2012 and a 52 week low of Rs. 76.05 on 16-Dec-2011.

Last one week high and low of the scrip stood at Rs. 118.45 and Rs. 110.25 respectively. The current market cap of the company is Rs. 706.00 crore.

The promoters holding in the company stood at 45.20% while Institutions and Non-Institutions held 26.44% and 28.37% respectively.

Innoventive Industries (IIL), a multi-product engineering company, has received patent for its ‘A Low Carbon Welded Tube and Process of Manufacture’ (‘Cold Pilgering’ technology). The patent was filed by the company for its Cold Pilgering process, which is employed by the company to manufacture CEW tubes.

Besides, this process has reduced the energy consumption, materials wastage and labour cost significantly compared to the conventional draw bench process, thereby improving the margins. The patent granted for this technology is valid over a period of 20 years effective from April 24, 2009.

Conventionally CEW/DOM tubes are manufactured using draw bench, which involves a number of stages to meet the required specification. However, by employing the company’s patented ‘Cold Pilgering’ technology the number of stages required to meet the desired specification is significantly reduced yet characteristics of the tube is augmented, thereby leading to improved margins and overall profitability for the value added tubes.

Further, products manufactured through this process have unmatched quality when compared to products manufactured through conventional draw bench process and also possess a superior surface finish.

Innoventive Indu Share Price

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