Mangalam Alloys Ltd Company Summary

Mangalam Alloys Ltd Summary

Mangalam Alloys Limited was incorporated by the promoters Mr. Uttamchand Chandanmal Mehta & Mr. Maheshchand Jain with an aim of running stainless steel melting unit as part of business growth. The Company registered with the Registrar of Companies, Gujarat, Dadra and Nagar Havelli on August 1, 1988 as Mangalam Alloys Private Limited, which subsequently was converted into a Public Limited Company as Mangalam Alloys Limited vide Fresh Certificate of Incorporation on April 20, 1995, issued by the Registrar of Companies, Gujarat.The Company is engaged in the business of manufacturing of Stainless Steel, Special Steel, Alloys Steel Melting and further processing unit i.e. up to Bright Bar Fasteners engineering products. The Company is a stainless steel unit manufacturing SS Ingots, Round Bar, RCS, Bright bar, different sections/ profiles like square, hex, angle, patti, etc, Forging and making fasteners. The Company is having integrated stainless steel manufacturing unit covering 40,000 sq. meters land with an installed capacity of 25,000 TPA. It manufactures stainless steel ingots through three furnaces by melting of Stainless Steel scrap, rolling of ingots to stainless steel Rounds &Flats followed by heat treatment annealing furnace and Bright Bar Unit.The Company established Furance II, total Quality Management and 3rd Furance in year 2004 and 2012 respectively. It further established 16 Rolling Mill in 2003. It invested in Joint Venture at Vietnam with melting unit and bright bar unit in 2007. It established Annealing Department & Bright Bar Unit, and was recognized as ISO 9001. It made investments in Wind Mill of 1.25MW for Green Power in the year 2008.The Company developed Fastener Division in 2009. Later on, in 2016, it launched new products i.e. SS Bright Square, Hexagonal Bar, Angles, Flat Bar in 2014. It further established 20 inch, 17 inch and 12 inch Rolling Mill in 2017 and in 2019, set up automated imported peeling and reeling machine for brightbar.The Company raised money from public through IPO by issue and allotment of 68,64,000 Equity Shares aggregating to Rs 54.91 Crore, comprising a Fresh Issue of 61,26,400 Equity Shares aggregating to Rs 49.01 Cr. and an Offer for Sale of 7,37,600 Equity Shares aggregating Rs 5.90 Cr.