|Rapicut Carbides Ltd. (RCL) was incorporated as a Public Limited Company on April 5, 1977. It set up a unit at GIDC Ankleshwar, Gujarat with the objective of indigenously manufacturing Tungsten Carbide Products such as Tips, Inserts and other Tungsten Carbide products. RCL was set up
by a group of technocrats working in senior positions in Sandvik Asia Limited, a multinational Swedish giant in the field of Tungsten Carbide. Commercial production commenced in October, 1979. RCL is now producing a wide range of Tungsten Carbide products viz. T.C. Buttons, Rings, Tips,
Inserts, Flats, Bushes, Jute Eyelets, Solid Carbide Cutters, etc. at Ankleshwar.
The Company took over a running unit, viz. Gujarat Drillwell Private Limited (GDPL), engaged in the manufacture of Drill Steel Rods. GDPL was merged with the Company with effect from 31st March, 1993. Consequent to this 60,384 Equity Shares have been alloted to the Shareholders of Gujarat Drillwell Pvt. Ltd. After the merger, the Company has
increased the capacity utilisation at the Chhatral unit of GDPL by more than 100%.
Since inception, the Company has achieved overall growth in turnover and profits. Total Income has increased from Rs.460 lacs in 1989-90 to Rs. 1447 lacs in 1994-95. Book Value of its Equity Shares has increased from Rs. 43 in 1989-90 to Rs. 60 in 1994-95. The Company has paid dividend of 30% in 1989-90, 20% (on expanded capital) in 1990-91, 22% in 1991-92, 25% for 1992-93, 30% (for 15 months) for 1993-94 and 25% for 1994-95.
-Rapicut Carbides members approves delisting of its shares from 3 Stock Exchanges namely Vadodara, Ahmedabad & Pune Stock Exchanges.
- Equity shares of the company have been delisted from Vododara Stock Exchange with effect from August 16, 2004.