Surana Industries Ltd Share Price

Summary

Incorporated in Mar.91, Surana Metals & Steels (India) (SMSI) was promoted by the Surana group under the guidance of G Surana. SMSI was initially engaged in trading of steel. The company is engaged in the manufacture of tor steel of 40, 50 and 60 grades and CTD bars and mild steel rounds with sizes ranging from 8 mm to 32 mm in addition to structurals like flats, squares and angles of various sizes. It went public in May 94 for setting up a steel rolling mill to manufacture tor-steel / CTD bars / MS rounds and structurals with an installed capacity of 30,000 tpa at Gummidipoondi, Tamilnadu. The mill is essentially divided into three segments -- roughing mill, intermediate mill and finishing mill -- all interconnected and with direct feeding. The advantage of this system is that a wide range of products and sizes can be rolled by running all the three segments simultaneously. The company commenced production in 1994-95. The company has set up a new 9 Re-rolling Mill to produce 6 mm and 8 mm steel bars taking the total installed capacity to 72600 TPA. The company was in the process of manufacturing Thermo Mechanically Treated Bars (TMT) at a cost of Rs.37 crores and the commercial production was commenced in early 2002. The project was financed by Term loan to the extent of Rs.17 crores from IDBI. The company name was changed to Surana Industries Ltd.
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