Premium Plast Ltd (PREMIUM) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Premium Plast Limited was incorporated under the name and style of ‘Premium Plast Private Limited’, a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated November 14, 1995 issued by the Additional Registrar of Companies, Maharashtra. Subsequently, the company was converted into a public limited company pursuant to a resolution passed by its Shareholders in an Extraordinary General Meeting held on June 24, 2019 and consequently the name of the company was changed to ‘Premium Plast Limited’ and a fresh certificate of incorporation dated December 10, 2019 was issued by the Registrar of Companies, Maharashtra at Mumbai. 

The company is a tier-1 (tier-1 companies are companies that directly supply to original equipment manufacturers (OEMs)) automotive component group. It designs, manufactures and supply, exterior plastic components, interior cabin components, under the hood components to commercial vehicle OEMs directly. It is an IATF-16949, ISO 9001:2015, and ISO 14001:2004 specialised plastic injection and blow mould components manufacturer. It manufactures a wide variety of injection and blow moulded plastic articles for a broad group of industries and applications. Its products broadly include automotive parts, plastic industrial components and packaging components, which cater to a diverse range of industries. It manufactures automobile components for commercial vehicles of the ‘Volvo Group’.

Since incorporation, it has been the company’s vision and focus to manufacture and supply superior quality products to its customers, which has enabled it to expand its business operations. It has a quality control and assurance division (Quality Division) in all its manufacturing units which carries out the required tests on the materials received including raw materials which are used in the manufacturing process and also on the final products. It undertakes various strength tests like load and fatigue tests, vibration tests, cyclical endurance tests, chemical / heat resistance and such other tests. These tests ensure that its products meet the industry standards required by its clients for safety, durability and environment. As per the requirement of its customers, it obtains industry standard tests certificates from its suppliers for the raw materials procured by them used by the company and also from NABL accredited third party laboratories for specific products.

Business area of the company

The company is a tier-1 (tier-1 companies are companies that directly supply to OEMs) automotive component group. It designs, manufactures and supply, exterior plastic components, interior cabin components, under the hood components to commercial vehicle OEMs directly.

Products of the company

Automotive components

• Exterior Automotive Component
• Interior Components
• Under the hood components

Other Components

• Ducts
• Tanks

Awards and accreditations

• 2002: The company received an award from Eicher Motors Limited in recognition of its outstanding contribution to supply chain management in Vendor Conference 2002. 
• 2007-08: The company received ‘Vendor Award 2007-08’ from VE Commercial Vehicles in the Vendor Conference 2008 in recognition of its outstanding contribution to supply chain management - rubber & plastic. 
• 2014: The company received an ancillary award from VE Commercial Vehicles in Annual Supplier Conference 2014 in recognition of its outstanding contribution to new product development. 
• 2015: The company received an ancillary award from VE Commercial Vehicles in Annual Supplier Conference 2015 in recognition of its outstanding contribution to supply chain management. 
• 2016: Its Managing Director, Chetan Dave was awarded with the COSIDICI National Award and the title of ‘outstanding entrepreneur’ at COSIDICI National Awards. 
• 2018: The company received an award from VE Commercial Vehicles for special contribution in aftermarket support in Annual Supplier Conference 2018. 
• 2020: The company received an ancillary award from VE Commercial Vehicles in Annual Supplier Conference 2020 for outstanding contribution in supply chain management.
• 2023: The company received a certificate from TUV SUD Management Service GmbH certifying that the quality management system of the company is compliant with the requirements of IATF 16949 in relation to manufacturing of plastic moulded components.
• 2023: The company received a certificate from DBS Certifications Private Limited certifying that the environmental management system of the company is compliant with the requirements of ISO 14001:2015 in relation to manufacturing and supply of plastic automotive & industrial components & assemblies.

History and milestones

• 2004: The company shifted its manufacturing unit to Vasai East, Mumbai for manufacturing of automotive and packaging products. 
• 2013: The company had set up a new manufacturing unit at Pithampur, Madhya Pradesh to manufacture industrial plastic parts. 
• 2019: The company has set up another manufacturing unit at Pithampur, Madhya Pradesh for manufacturing of industrial plastic parts, and increasing the existing manufacturing capacity.