Splendid Metal Products Ltd Company Summary

Splendid Metal Products Ltd Summary

Sujana Metal Products Ltd earlier known as Steels Steels Ltd (SSL) was incorporated on 2 May 88 as a private limited company and was converted into a public limited company on 4 Apr.92. The company was promoted by Y S Chowdary, V Malakonda Reddy and others. Y S Chowdary is the Chairman & Managing Director. Other group companies include Sujana Industries, Sujana Corporation, Sujana Holdings and Sujana Pharma.A public issue was made for Rs.2.92 crores to finance the expansion programme of ingot.The company increased the installed capacity by 16400 TPA and the expansion was completed in 1992. The company manufactures steel and re-rolled steel products. The products of the company are mainly for construction and industrial use and they enjoy a very good demand. The companys new hot re-rolling mill for the production of additional 1,25,000 tpa of steel products at Gummidipundi,Chennai was successfully completed.The companys new Hot Re-rolling Mill for the production of 1,25,000 tonnes per annum has been transferred to M/s Padmini Steel Corporation Ltd, a subsidiary company, production in this unit was started by the last quarter of 1997.The company modernised its Re-rolling Mills by way of increasing its manufacturing capacity to 110000 TPA at an cost of Rs 36 crores. The company has taken up Wind Farm Power project for 2 MW capacity in Ananthpur Dist. A.P. at a cost of Rs.843 lakhs and has met with financial assistance from IREDA and Equity.The project which was flagged off in 1999-2000 has not completed and the company is taking necessary steps to complete the Project as per schedule.