Hardayal setting up casting unit

Hardayal Engineering Works Private Limited, a manufacturer of machinery and equipment for the paper industry, is setting up an SS (stainless steel) and MS (mild steel) casting facility at an investment of over Rs 15 crore in Ghaziabad.

"Currently, we meet our SS and MS casting requirements from external sources and then use it for making components such as housings, frames and roll shafts. This, however, involves time constraints, and hence we setting up our own unit to indigenously support our casting requirements," Parvinder Singh, director of the Ghaziabad-based company, said.

He was speaking to Business Standard on the sidelines of the Indian Pulp and Paper Technical Association (IPPTA)'s two-day zonal seminar recently.

The over 2,000-square yard facility with a 25-tonne per day capacity would go on stream within five months from now, and would feed the requirements of the company's facilities besides exports, he added. The company has four facilities located at Ghaziabad.

Stating that exports contributed 50 per cent to the company's top line last year, Singh said the company expected it to grow 15-20 per cent this financial year, given the enquiries that had been pouring in from countries like Singapore, Malaysia and South Africa.

"With over 18 domestic projects that are in various stages of commissioning and half-a-dozen export orders from countries, including Thailand, Nepal, Iran, Myanmar and Ethiopia, on hand, we expect our revenues to cross the Rs 100-crore mark this fiscal, as against Rs 80 crore last year," he said.

The 30-year-old firm specialises in pulp, paper and board projects ranging from five to 300 tonne capacity on turnkey basis. It has so far supplied and installed machinery in over 100 plants.