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Gala Precision Engineering Limited was incorporated as ‘Gala Precision Engineering Private Limited’ under the Companies Act, 1956, as a private limited company pursuant to the certificate of incorporation issued by the RoC on February 23, 2009.The Company entered into a Business Transfer Agreement dated May 26, 2009 to transfer the business operations from Gala Precision Technology Private Limited. The name of the company was subsequently changed to ‘Gala Precision Engineering Limited’, upon conversion into a public company, pursuant to a board resolution dated September 5, 2023 and a shareholder’s resolution dated October 3, 2023, and a fresh certificate of change of name was issued on October 25, 2023 by the RoC.
The company is a precision component manufacturer of technical springs like disc & strip springs (DSS) including wedge lock washers; coil & spiral springs (CSS) and special fastening solution (SFS) supplying to original equipment manufacturers (OEMs), Tier 1 and channel partners; used in sectors like renewable energy including wind turbine and hydro power plants, various industrial sectors such as electrical, off highway equipments, infrastructure and general engineering, mobility segments such as automotive and railways. The company’s listed competitors include Harsha Engineers International Limited, SKF India Limited, Sundram Fasteners Limited, Rolex Rings Limited, Sterling Tools Limited and Ratnaveer Precision Engineering Limited. Its technical springs and high tensile fasteners have been supplied to customers in countries such as Germany, Denmark, China, Italy, Brazil, USA, Sweden, Switzerland etc. Accordingly, the company is a key link in the global supply chain for OEMs.
The company’s business primarily comprises of (i) springs technology division, under which it manufactures DSS including wedge lock washers (WLW), CSS and (ii) SFS in which it manufactures anchor bolts, studs and nuts. The company’s DSS products find applications in renewable energy, railways, automobiles, off highway vehicles, heavy machinery, electrical and power equipments. The company’s disc springs confirm to German DIN 2093 standards, bearing series, and customized specifications featuring variety of raw materials and surface coating options. It manufactures strip springs customised for high fatigue applications. It is mainly competing with Muhr und Bender KG, Schnorr GmbH, Christian Bauer GmbH + Co. KG in the global disc springs market and with International Industrial Springs in disc springs in India. The company’s CSS products are used in commercial vehicles, passenger vehicles, railways and industrial infrastructure. It has positioned itself as a key import substitution for European springs suppliers and multinationals looking at PLI Schemes and other incentives offered by the Government.
Business area of the company
The company is a precision component manufacturer of technical springs like DSS including wedge lock washers; CSS and SFS supplying to OEMs, Tier 1 and channel partners; used in sectors like renewable energy including wind turbine and hydro power plants, various industrial sectors such as electrical, off highway equipment, infrastructure and general engineering, mobility segments such as automotive and railways.
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