Bhuwalka Steel Industries Ltd Company Summary

Bhuwalka Steel Industries Ltd Summary

Incorporated on 18 Aug.81, Bhuwalka Steel Industries went public in 1987. The company belongs to the Bhuwalka group, promoted by S K Bhuwalka. Engaged in steel rolling, it manufactures the BIS and Tiscon brands of rolled steel products, plain and cold twisted de-formed bars (inst. cap. : 70,000 tpa). It is one of the major conversion agents for TISCO, SAIL and the Visakhapatanam Steel plant, which supply steel billets for conversion into cold twisted bars / rods according to company specifications. It came out with a rights issue in Jan.92 to finance a modernisation programme. The company started work on two new rolling mill projects at Wadi near Bombay (cap. : 40,000 tpa) and Kanchipuram near Chennai (15,000 tpa). It has modernised its rolling facilities in Bangalore, raising the capacity to 84,000 tpa.During 1998-99, The company has taken up the modernisation and expansion of its Wada unit, which was completed on December 1999. The company has also set up a wholly owned subsidiary in Srilanka for manufacture of 25,000 TPA of Billets and the rolled steel products at Madampe near Colombo in Srilanka. The project went into stream on July 2000 was doing well.