Vikash Metal & Power Ltd Company Summary

Vikash Metal & Power Ltd Summary

Vikash Metal & Power Ltd is an India-based company. The company is engaged in the business of manufacturing Sponge Iron, Pig Iron, MS Billets, TMT Bars and Ferro Alloys. They are also engaged in the generation of Power. They offer the range of services to industries, which includes bridges, buildings, highways, turnkey projects, governments and institutions, industries, iron and steel exports, and ferro alloy exports.Vikash Metal & Power Ltd was incorporated on July 4, 1996 as a private limited company with the name Vikash Metal Pvt Ltd. The company was established with the object of carrying on the business of trading in dolomite and iron & steel products. In December 13, 2002, the company was converted into public limited company and the name was changed Vikash Metal Ltd. In January 21, 2003, the company further changed their name from Vikash Metal Ltd to Vikash Metal & Power Ltd. In August 2003, the company ventured into manufacture of sponge iron and their first Kiln with a capacity to produce 100 TPD was commissioned. In June 2004, they commenced production in their second Kiln. In the year 2003, the company received ISO 9001:2000 certification.During the year 2005-06, the company started production of M S Ingot with the installed capacity of 57000 MT. During the year 2006-07, the company expanded the production capacity of Sponge Iron by 65000 MT to 130000 MT. Also, they expanded the production capacity of M S Ingots by 28500 MT to 85500 MT.During the year 2007-08, the company started production of TMT Bars with installed capacity of 150000 MT. During the year 2008-09, the company expanded the production capacity of Ingots/ Billets from 85500 MT to 114000 MT. In June 25, 2008, they commenced commercial production of captive power plant with the installed capacity of 10 MW. In October 18, 2008, they started commercial production of Ferro Silico Manganese & Ferro Manganese.During the year 2009-10, the company in association with reputed companies formed a joint venture company namely Moira Madhujore Coal Ltd and received an allotment for Moira Madhujore North & South non coking coal block in the state of West Bengal from Ministry of Coal, Government of India.In April 2011, the company completed the issue of Global Depository Receipt (GDRs) for USD 12 million. Subsequently, GDRs of the company were listed on Luxembourg stock exchange.