Earthstahl & Alloys Ltd Company Summary

Earthstahl & Alloys Ltd Summary

Earthstahl & Alloys Limited was originally incorporated as a Private Limited Company under the name Earthstahl & Alloys Private Limited on December 9, 2009 with the Registrar of Companies, Chhattisgarh. Subsequently, the status was converted into a Public Limited Company and the name was changed to Earthstahl & Alloys Limited vide a fresh certificate dated September 21, 2022, issued by the Registrar of Companies, Chhattisgarh.The Companys principal business is production of Cast Iron Lumps. In addition, it is also engaged in production of high-end ductile iron, cast iron, steels, alloys, and nonferrous castings. The Company has manufacturing unit located in Duldula Village about 50 KMs from Raipur, Chhattisgarh. The plant is located near to source of raw material i.e. Bhilai Steel Plant of SAIL and other pellet and sponge iron plants located in Raipur and surrounding area. In 2012, the Company started operations of manufacturing cast iron with one Submerged Electric Arc Furnace with capacity of 3.6MVA to manufacture 10,500 tonnes p.a. of Cast Iron Lumps.During FY2014-15 due to sharp correction in price of steel and increase in price of electricity, the unit started incurring losses. Further due to delay in commissioning and stabilisation of foundry for manufacturing ductile iron pipe fittings, the losses increased. Consequently the plant faced shut down from March 2015 till March 2018. However, the plant resumed operation in March, 2018.In 2017, it started commercial production of manufacturing Ductile Iron Pipes fittings for which Lost Foam based Steel Foundry consisting of one induction furnace with two crucibles, one of 500 KG and another 1000 KG to produce Ductile iron pipe fittings of different dimensions, shapes and sizes used in water supply system was commissioned. Company commissioned another Submerged Electric Arc Furnace with capacity of 5.5MVA to manufacture 15,750 MTs of Cast Iron lumps in 2022.The Company expanded the CI Lumps manufacturing capacity from 10,500 MT to 25,750 MT by installing one more Submerged Arc Furnace of 5500 KVA in 2022-23. The Contract Demand of power also increased from 4300 KVA to 8300 KVA.The Company came up with a fresh issue of 32,40,000 Equity Shares of face value of Rs 10/- each by raising funds through IPO to public aggregating to Rs 13 Cr in January, 2023.Briquetting plant of 50,000 TPA in upstream integration has been installed in 2024. The Company also started the production of OPVC compatible pipe fittings.