MFS Intercorp Ltd Company Summary

MFS Intercorp Limited was initially incorporated as Muskan Ferro Silicons Limited on January 14, 1986, The the name of the Company was changed from Muskan Ferro Silicons Limited to MFS Intercorp Limited on February 23, 2012. Company was formed with an object to manufacture Ferro Silicon with a capacity of 5 M. Tons per day, but due to change in the demand pattern, the Company changed its product from Ferro Silicon to Silicon Manganese with an installed capacity of 13 M.T.

per dayIn 1994, the Company came out with a Public Issue of 30,00,000 Equity Shares of Rs. 10 each for cash at par aggregating to Rs. 300 lakhs.

This issue was to part finance the project for setting up a unit for manufacturing ferro alloys. The product selected is sillico-Manganese for project costing Rs. 520 Crore.Due to scarcity of working capital funds, the Company is not able to perform any business activities.

To make the Company operational, the board is making its best effort to implement the cost reduction measures to the extent feasible. Several cost cutting measures have already been undertaken by the Company.