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Patels Airtemp (India) Ltd. Company History and Annual Growth Details

Patel Airtemp India Ltd. was promoted by shri Narayanbhai
G. Patel & associates who have been in the business of design and
fabrication of process equipment and engineering goods. The company
was incorporated on august 28, 1992 under the companies act, 1956 mainly
with the object of taking over two of the 8 existing units of the group
in order to create a harmony in the group"s product range and to avoid
competition among the group companies. These two existing profit making
companies viz., M/s Patel Airtemp Private Ltd. and M/s Gujarat Patcon
Pvt. Ltd. have been merged into Patels Airtemp (India) Ltd. The company
set up a new fully equipped plant as unit No.3 of the company at Village Santej, Mehsana District (state notified backward area) near Ahmedabad.

The group promoted by Shri N.G.Patel and associates, earlier comprised
of eight concerns which were engaged in the fabrication/manufacruging
of engineering components and products. The existing product range
of the group includes heat exchangers, shell and tube water cooled
condensers, air conditioning and regreration and process cooling equipment industrial fans and blowers, axial flow fans, heavy duty
compressors, fans coil units and air handing units.

During 1996-97, The company embarked upon an expansion cum diversification project by setting up unit no. 4 of the company which is adjacent to the unit 3 located at Rakanpur. The company has acquired technology from M/s Tek-fins, USA and the project is already in the pipeline. Total cost of the project is Rs 1150 lakhs.


-Delistes shares of Company voluntarily from The Stock Exchange, Ahmedabad (ASE) w.e.f. February 28, 2005


-The company secures orders of Rs 319 lakhs from Jindal Polyfilms Ltd.


- Patels Airtemp India Ltd has informed BSE that the Company is in receipt of the order of HVAC and chiller supply works for supply, Installation, Testing and Commissioning at Hospital Building for M/s Sterling Addlife India Ltd, S.H: HVAC Works excluding Supply and Installation of Chillers at Bhavnagar, Gujarat of worth of Rs. 2,86,00,O0O/- and the Order works are in progress since the receipt of the said order.


- Board recommends Dividend of 20%.

-The Board of Directors of the company has recommended dividend Rs. 2 per share on the share of Rs. 10.00 each @ 20% on the Equity Shares.

-The Board of Directors of the company has recommended dividend @ Rs. 2.00 (i.e. 20%) per equity share of the face value of Rs. 10 each.