Support and Resistance Levels
Past performance
About Shri Gang Industries & Allied Products Ltd Shri Gang Industries and Allied Products Limited, incorporated in 1989, initially focused on manufacturing and selling Vanaspati, refined oils, and bakery shortening under the brands 'Apna' and 'Mr. Baker' from their plant in Sikandrabad, Uttar Pradesh. The company underwent several capacity expansions in the early 1990s but faced financial difficulties, leading to a complete erosion of net worth by 1999-2000, classifying it as a Sick Industrial Company. Manufacturing activities were suspended in 2010 due to the outdated plant requiring significant capital for upgrades.
In a strategic move to revive its operations, Shri Gang Industries diversified into the liquor industry as part of a Rehabilitation Scheme. It established a bottling plant for Indian Made Foreign Liquor (IMFL) in Sandila, Uttar Pradesh, which began production in July 2020. To support this, a distillery unit was also set up and commenced operations in September 2022. Currently, the company exclusively manufactures IMFL for United Spirits Limited, marking a significant pivot from its original business model.