Panchmahal Steel Ltd (513511)

Panchmahal Steel PSL was incorporated as a private limited company to manufacture 18000 tonnes per annum of mild steel ingots. However, due to the company becoming a 'sick unit', a winding up petition was filed. In February 1976, the Gujarat High Court sanctioned the takeover of PSL by R L Malhotra and Ashok Malhotra from the previous management, and after the takeover it underwent a successful turnaround. Since 1982, PSL has had rolling facilities, while secondary refining facilities were commissioned in 1986. As a result, the company switched from producing mild steel to carbon alloy and stainless steel, increasing their production capacity from 18000 to 75000 tonnes per annum (tpa) for steel billets and from 120000 to 120000 tpa for rolled products. Subsequent expansion and technological upgradation allowed production rates to increase from 1800 tpa to 4200 tpa in 1995. To further increase production, PSL is setting up a modern steel melting shop with an impressive capacity of 2,00,000 tpa for stainless steel billets. Export figures for 200001 witnessed an impressive growth, registering a 20% increase from the previous year to Rs. 49.30 crores. PSL is also ISO 9002 certified, and the company successfully issued 6,00,00 equity shares of Rs.10 each for cash at par, were which were allotted to Promoters. This served as part of PSL's rehabilitation plan.

Share Price: ₹240.00 per share as on 16 May, 2024 04:01 PM
Market Capitalisation: ₹456.78Cr as of today
Listing date: 04 Jan, 1995
Chairperson Name: Ashok R Malhotra