Adhunik Metaliks Ltd Company Summary

Adhunik Metaliks Ltd Summary

Adhunik Metaliks Ltd is one of the leading player in the manufacture of alloy and special steel in Eastern India. They are the manufacturer of auto-grade alloy steel, stainless steel and engineering steel. They are also in the development of captive mines, leading to backward integration and development of mines to create a pipeline of manganese and iron ore. They are having their plant location at Rourkela in Orissa.The company is the flagship of the Adhunik Group of companies. Adhunik group is an established player in the Iron & Steel and Ferro-Alloys industry with a presence largely in Eastern India. The group has various activities like manufacturing, processing, trading of iron & steel scrap, and secondary as well as primary products and has set up manufacturing facilities in the States of West Bengal, Orissa, Jharkhand and Meghalaya. Adhunik Metaliks Ltd was incorporated in the year 2001 as Neepaz Metaliks Pvt Ltd with an aim of manufacturing value added steel products having application in automotive industry, engineering sector as well as the household sector. The company was converted into a public company on February 2004. On July 22, 2005 the name of the company was changed from Neepaz Metaliks Ltd to Adhunik Metaliks Ltd.The company started their operations in the year 2003 and the plant has been set up in a phased manner. Operations in the Unit I and Unit II commissioned in the year 2003 and 2005 respectively. From May 11, 2006, the DRI (Sponge Iron) plant has started operation. They have further expanded the second phase and commissioned their 17 Mw Power Plant on May 2007.During the year 2006-07, the company acquired Unistar Galvaisers and Faricators Pvt Ltd (UGFPL) which is in the business of making transmission towers for telecom and power sectors. During the year, the company entered into an equal partnership with the United Minerals, engaged in mining limestone and dolomite. Neepaz Tubes Pvt Ltd with manufacturing facilities in Jamshedpur, merged with UGFPL with effect from August 1, 2006. In April 2007, the company acquired Orissa Manganese & Minerals Pvt Ltd as 100% subsidiary company. In the same time, the company acquired an iron ore mine in Ghatkhuni, Jharkhand and a manganese ore mine in Patmuda, Orissa through Orissa Manganese and Minerals Pvt Ltd.In March 2008, the company approved Phase III expansion projects which including DRI Plant, Captive Power Plant (III), and Sinter Plant with a capital outlay of Rs 421.89 crore. Also, the company approved the merger of Vedvyas Ispat Ltd and M P Ispat & Power Pvt Ltd with the company.In March 2009, the company actively enhances and creates environment awareness and contributes towards bio-diversity. It has spent nearly on 1.5 Cr. on CSR- related activities. the company is now becoming a truly integrated special steel plant through forward and backward integration.During the year 2009-2010, India is the worlds fourth-largest iron ore producer.The iron ore rich states of the country are Chhattisgarh, Jharkhand, Karnataka and Orissa. The comonwealth Games 2010 in New Delhi increased the offtake of stainless steel in the construction of new buildings and stadium. The World Bank is planning to finance the international expansion of indian Railways to bring transport infrastructure to Africa Countries and other developing nations.In the year 2011, steel production increased from 3,32,254 tonnes in 2009-10 to 3,35,036 tonnes. the company has received product approved from Honda Motors, Mahindra & Mahindra and Bajaj Auto. The company plans to extended into power- generation (through subsidary APNRL) with a three-phased 1080- MW power project.In the year 2012, the company appointed Badische Stahl- Engineering Gmbh (BSE Germany) of Germany (BSE Know How Agreement) for providing consultancy services, including technical Know How, for improving the productivity of our plant located at Chandrihariharppur, sundaragh in Orissa. the company is extending into power generation through subsidary (APNRL). this two- phased 540 MW power project is expected to be fully commissioned by January 2013.