The Company was originally incorporated as a Public Limited Company under the Companies Act, 1956 pursuant to a Certificate of Incorporation issued by the Registrar of Companies, Andhra Pradesh, Hyderabad dated July 27, 2012 with the name Precision Metaliks Limited'. Subsequently, the Company got converted into Private Limited Company and the name was changed to Precision Metaliks Private Limited' vide fresh Certificate of Incorporation issued by the Registrar of Companies, Telangana, Hyderabad on March 18, 2016. Subsequently, Company got converted again into a Public Limited Company and name of the Company was changed to Precision Metaliks Limited' and a fresh Certificate of Incorporation consequent upon conversion to Public Limited Company was issued by the Registrar of Companies, Telangana, Hyderabad, on March 19, 2021. The Company's Promoters are Abhishek Business Private Limited and Smt. Jayanthi Roja Ramani. The Unit is situated at Visakhapatnam SEZ, Duvvada in Andhra Pradesh. Under this Unit, the Company converts semi-finished raw wheels to finished wheels by rendering value added services such as cleaning, washing, buffing, polishing, testing and packing for major client, Synergies Castings Limited, Visakhapatnam. The Company developed a custom solution, which is a combination of robotic grinding and buffing, combined with automatic media' polishing, which allows 3D polishing of alloy wheel castings. The process has been automated to make it consistent / efficient and proven. It provides high-end design Engineering services, Analysis, Product Development, Prototyping, Tooling Design and various other services such as flow forming, skin cut services etc. The Buffing on wheels is done by using linen, cotton, broad cloth and canvas etc. Buffing process is carried out to remove scratches, oxides, coatings from the wheels. As a result of this process, the wheel will give a better smoothness for polishing. The Company also use the Precision Technology for polishing the wheels. Aluminium Ingots, Paints and Consumables, Fuel etc. are the major raw material used in providing value added services to alloy wheel manufacturers by processing semi-finished alloy wheels into finished wheels. The Company source Aluminium Ingots locally as well as import from Russia and Europe. Paints and Consumable as well as Fuel is sourced from various suppliers in domestic markets. The Company has secured orders for supply of finished alloy wheels along with accessories from USA aftermarket distributor and importer. In 2018, the Company established SEZ Unit in Visakhapatnam, Andhra Pradesh. In 2019, the Company commenced manufacturing activities and executed Order from its client, namely Synergies Castings Group for 1st Export. The Company intends to be a significant global player in the high-end precision Aluminium Alloy Wheels supply in aftermarket, and Alloy Castings Segment. To achieve this, the Company has developed competencies to supply the volumes, quality and on time delivery demanded by the global players in aftermarket. In addition to the existing operations, the Company intends to further expand into downstream value-added engineering and manufacturing processes such as flow forming of semi-finished alloy wheel castings, Low Pressure Die Casting of Alloy wheels and other aluminum products for the auto industry.