Shah Alloys Ltd Company Summary

Shah Alloys Ltd Summary

Incorporated in November, 1990, Shah Alloys Limited went public in 1992. It was promoted by Rajendrabhai V Shah and Rajiniben R Shah. The Company is engaged in the manufacture of Stainless Steel, Alloy & Special Steel, Carbon/ Mild Steel and Armour Steel in Flat and Long products of which it makes Hot Rolled Coils, Sheets & Plates , Cold Rolled Coils & Sheets , Hot Rolled Round Bars , Bright Round Bars , Hot Rolled Flat Bars , Angles, Beams etc.The company came out with a public issue in Dec.92 to part-finance an expansion scheme, and to meet long-term working capital requirements. The company has embarked on a Rs 6.53-cr project to manufacture stainless steel and other alloy products, financed by GIIC. It has put up a hot plate rolling mill at a cost of Rs 36.75 cr. The company received the Dhatu Nayak Award for best performance in the stainless steel industry.During 1998-99, the Company implemented the project of captive power plant having capacity of 20 MW. The project was financed through term loans and internal cash accruals.Also in 2000-01, the company commissioned Indias first 1800mm width Stainless Steel Slab Caster. The project of H R /S S Sheet /Coil was commissioned as per schedule. The companys ongoing diversification project of manufacturing of HR/SS Sheet/Coil was implemented during 2001-02.During 2001-02 Shah Steel & Industrial Gases Limited was amalgamated with the company and accordingly 20 equity shares of Shah alloys were issued and allotted to Shah Steel & Industrial Gases Ltd pursuant to the scheme which provided for the company to issue shares in the ratio of one Equity Shares of the company for every 35 equity shares of Shah Steel & Industrial Gases Ltd.The Company commenced the production of value added CRC Coils, with the commencement of two Cold Rolling Mills (CRMs) in FY. 2005-06.During the year 2010-11, the Company was declared Sick Industrial Company under the provisions of Section 3(1)(0) of Sick Industrial Companies (Special Provisions) Act 1985.