The 5-year analysis of Modi Rubber Ltd's performance infers:
We analysed the performance of Modi Rubber Ltd share prices over the last 10 years. Here is what we found out:
Modi Rubber was incorporated on February 27, 1971. After the Modi group split in 1979, it has become a part of the KK Modi group of companies which spans a diverse range of businesses including agro-chemicals, tobacco, education, entertainment, tea and beverages, direct selling, network marketing, gourmet restaurants, steel, sugar, textiles, chemicals, tires, computers, copiers, cosmetics, telecommunications, entertainment, pharmaceuticals, homecare, and online lottery.
The Geographical Company Operations at the companyâ€™s plants at Modipuram and Modinagar in Uttar Pradesh and Partapur in Rajasthan remain suspended since August 2001. Several centers of the nearly 66 sales and service centers all over India have been closed. The company is trying to restructure activities for revival.
The company was declared as a sick company by the Board for Industrial & Financial Reconstruction (BIFR) on May 17, 2006. A comprehensive rehabilitation scheme for revival was submitted the appointed operating agency to the BIFR, which vide its order dated April 21, 2008, sanctioned it for implementation.
The registered office of the company is located at Modinagar, Ghaziabad - 201204, Uttar Pradesh.
In 2011 Modi Rubber signed agreements with Continental Group and in 2012 Modi Rubber entered into an agreement to establish a Joint Venture with Asahi Organic Chemicals Industry Co. Ltd., Japan for manufacture and sale of Resin coated Sand.
Business area of the company
The company is engaged in the manufacture of the Modi Continental brand of tires.