Shri Hare-Krishna Sponge Iron Ltd Company Summary

Shri Hare-Krishna Sponge Iron Ltd Summary

Shri Hare-Krishna Sponge Iron Limited was originally incorporated under the name of Shri Hare-Krishna Sponge Iron Private Limited on May 02, 2003 with the Registrar of Companies, West Bengal. Thereafter, Company was converted to Public Limited and the name of the Company was changed to Shri Hare-Krishna Sponge Iron Limited vide Incorporation Certificate dated June 20, 2007, issued by the Registrar of Companies, West Bengal.The Company launched induction furnace in their factory to increase production in year 2005. In 2007, it established a semi-automated structure Rolling mill to enhanced the production technology and capabilities. Further, the production of steel shots product started in 2012. The Company is primarily engaged in the business of manufacturing and selling of Sponge Iron. Sponge Iron is mainly used as a raw material for steel production in electric arc furnaces and induction furnaces. It presently carry all the manufacturing operations at Siltara - Raipur, Chhattisgarh with an annual production capacity of 30,000 metric tonnes. During production of sponge iron, a solid waste is produced as a by-product called dolochar, which is used in manufacturing of steel billets, ingots and re-rolled products. Apart from this, the key raw materials to produce sponge iron are iron ore/iron ore pellets, coal and dolomite. Due to increasing power costs, manufacturing operations for mild steel ingots, steel shots, grits, and other steel products have been temporarily shut down since 2020. The Companys strategy focuses on establishing a 5MW captive power plant at existing manufacturing facility in Siltara, Raipur, Chhattisgarh, to reduce energy costs and ensure a reliable power supply, which is crucial for resuming operations of steel ingots, steel shots, grits, and other steel products.The Company launched the IPO of 50,70,000 equity shares through fresh issue having the face value of Rs 10 each by raising funds aggregating to Rs 29.91 Crore in June, 2025.