Steelcast Ltd. is India’s
leading steel castings manufacturing company in the earthmoving
equipment sector. Strong demand from user industries in India and
globally has put the company on a high growth trajectory. Steelcast Ltd.
is expected to post revenues of over Rs 2.20bn in FY12, with nearly 45%
coming from exports to several countries globally, including USA and
Germany. Steelcast’s manufacturing capacity is in excess of 24,000 tons
per annum and further expansion is planned in the coming few years.
Some of the company’s major clients are Caterpillar, Komatsu,
ThyssenKrupp, JCB, Tatas, L&T, Essar, BEML and BHEL. It will soon be
adding two major clients, the Indian Railways as well as the US
Railways for freight-related castings supplies. Being an ISO: 9001-2008,
ISO: 14001-2004 and OHSAS 18001-2007 certified company; it has norms
and systems for quality assurance covering all stages. Kurimoto Ltd. of
Japan continues to hold a 2.5% stake in the company.
JV in US with Michigan Steel to tap this huge market
HIghlights:
- Gujarat-based Steelcast Ltd. and Michigan Steel of USA have formed a 50:50 JV, Steelcast LLC, to tap the huge US castings market
- Inspection team from the US Railway to come within a month to
give final approval for supplies from Steelcast’s manufacturing
facilities at Bhavnagar
- Steelcast JV in the USA has potential to generate Rs 200 crore revenues over next five years from US Railways demand only
The company can now tap huge castings demand from US Railways Steelcast
has received quality assurance certification from the Association of
American Railroads. This certification will help the company to tap the
huge US Railways demand for steel castings. Steelcast has thus achieved
the distinction of becoming only the second castings company in India to
have got this accreditation
STEELCAST EXPECTED TO POST 13 EPS FOR FY13
BUY ON EVERY DECLINE FOR A TARGET OF 75RS IN NEXT SIX MONTHS
