Electrosteel Steels Ltd has set up 2.51 Million Ton Per Annum (MTPA) Greenfield Integrated Steel Plant near Siyaljori village, in the Bokaro district of Jharkhand. It primarily consist of a Sinter Plant, Coke Oven, Blast Furnace, Basic Oxygen Furnace, Billet Caster, Wire Rod Mill, Bar Mill and Power Plant. ESL has established excellence at every stage of production by bringing international expertise and solutions from reputed manufacturers. Along with the latest technology, the plant operates in synchronization with the highest ecological standards.
The Company's product range includes Pig Iron, Billets, TMT Bars, Wire Rods and Ductile Iron Pipes.
FINANCIAL SUMMARY/HIGHLIGHTS AND BUSINESS PERFORMANCE
|
Amount ( ₹ in Lakhs)
(Except otherwise stated) |
| Particular |
Year Ended |
Year Ended |
|
31 Mar, 2019 |
31 Mar, 2020 |
| Revenue from operation |
495,154.94 |
4,37,750.81 |
| Other Income |
5,542.73 |
10,364.45 |
| Finance Cost |
32,246.02 |
38,413.55 |
| Exceptional Item |
93,093.53 |
- |
| Profit /(Loss) before exceptional items and tax |
25,586.76 |
(2,180.92) |
| Profit/(Loss) after tax |
1,18,680.29 |
(2,180.92) |
| EPS (Basic and diluted) |
5.37 |
(0.11) |
*
Figures for the year ended 31st March, 2019 have been re-stated pursuant to Scheme of Amalgamation of Vedanta Star Limited (VSL) with Electrosteel Steels Limited (ESL)
The Fiscal year 2019 has been transformational year for the Company, where significant progress has been made in various fronts such as enhanced capacity utilisation, restarting of Blast furnace #3, improvement in cost through commercial and operational excellence, enhanced production of value added product (VAP) etc. These accomplishments set up strong momentum to aspire for robust growth for Fiscal Year 2020.
In June 2018, Vedanta Limited acquired a 90% stake in Company, a primary producer of steel and downstream value added products. The Company was acquired under the Insolvency and Bankruptcy Code (IBC) 2016 in line with Resolution Plan approved by Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench. Subsequent to the acquisition, Vedanta Limited, through its wholly owned subsidiary, Vedanta Star Limited, took over control and management of
Electrosteel Steels Limited and acquired 90% shares of the Company.
FY2019 recorded annual steel production at 1.2 million tonnes up 17% on year to year basis. The Company achieved hot metal production run rate of c.1.5mtpa in FY2019. The production ramped up substantially and other operational efficiencies has resulted in record EBITDA margin. Under Vedanta’s management, the business has seen significant operational improvements leading to healthy financial position.
These achievements, underpinned by a strong emphasis on safety practices, position the Company well to become a serious player in the Indian steel sector.
